Systematic approach towards learning on your own

That is a common problem I find in traders (which is to be expected). It was actually one that I had myself. My mentor at the time said to me something that I’ll never forget "You have learned so much that you probably know even more than me by now. Your problem is a lack of STRUCTURE. And putting that together is an art.

1 Like

i see, and once you establish the goal, in this case trend following, you start searching and reading all material about trend following?
is the study plan that simple to structure it out? :confused:

Not exactly. Learning everything is impossible and requires infinite effort and time. Learning enough to be profitable is practicable and is all that is necessary.

2 Likes

@Lee_Gi

Actually the point you just made is spot on.

The biggest issue for beginners is they just don’t know what they need to learn and what they do not.

You can go down avenues that really just aren’t worth it because you were unlucky to be introduced to that concept before other more important things.

I always suggest a few months general reading about markets and trading before going granular.

I once knew someone who started off with a course costing 1000 quid or more learning about Elliot Wave.

If he had some one more experienced to guide him at the time maybe he would have not pursued that option.

In relation to the @eclipz3 course I think it is unfair to be labelled as BS without proper investigation.

There is one point I am intrigued about though. His following the smart money approach is a good one but is this done with proprietary software or is it data readily available?

It’s alot easier to follow smart money in the stock market than in the forex market - so I believe.

Is what he looks at market depth or level 2? Great approaches but again not available in forex unless your trading on the interbank market.

The best I can get for smart money is the COT.

It would be great for a brief outline of what his course is looking at - without giving the whole game away of course!

1 Like

It’s done with naked charts using pure data price time and volume most importantly. All you need is infront of you. We did build an indicator for Tradingview designed to help train new students as many have never worked with volume before, especially forex traders. SMA was born in Forex.

Wyckoff and Williams VSA were meant to be traded for stocks and other instruments that had actual volume. They had to be heavily modified which was the creation of SMA, just to work and be effective in Forex. But after specializing in “volume” reading for so long, you get to know where the signals are even without looking at the actual volume/tick data. When you take SMA into markets of more accurate volume, it just becomes that much extra accurate. And again SMA like VSA is not an indicator or method it is a way of seeing.

You should be able to preview the table of contents curriculum in the platform where the Online Courses are listed. Or just book a free consultation which is the easiest. I can’t make it any more risk-free than that.

COT reports are just as good as using fundamentals. Lack of precision. Just because you predicted the direction of the market right, isn’t good enough. Most get “shaken-out” with SL as SM knows where all the stops are. This is their matrix afterall.

1 Like

but isn’t volume “ignored” in forex since its not the overall volume of the currency, but the broker’s/data provider?

1 Like

Yes it is ignored and SM wants it that way to keep you in the matrix. If you only knew what it was capable of :slight_smile:

It’s when you hold responsibility for your own actions. :slight_smile:

1 Like

What kind of reading do you recommend? Any books in particular?

@Thebeezneez

I don’t want to over pump my blog for risk of offending the moderators - but there is a post

Should you buy a forex trading course - towards the end I list a number of books I think are essential for a good all round education in trading and more importantly why.

It really is vital that you come to see trading more than just some shoot em game where you buy above a certain line and sell below it

There are real reasons why markets move, it’s like a bit like a 3d game of chess - which is why I always suggest making the technical side as simple as possible

It’s a hard business by nature so learning how it works rather than just a few choice candlestick patterns is important

Thanks for sharing! I’ll give it a read!

Look for a mentor. This will benefit you as you will be guided throughout. Whenever you get stuck somewhere, you can take their help.

I think getting a mentor will work best for you.

Pipsology course of babypips!