Strategy [ 15%]

Learning how to trade Forex profitably begins with you learning a few proven and profitable strategies.

Out of the thousands of strategies today, there is no “one” strategy that is better than the other, and there is also no “one-size-fits-all” strategy. The suitablity of each strategy depends on market conditions, and the trader’s own lifestyle.

For example, a scalping strategy (quick buy-sell transactions executed within minutes of each other) is not suitable for part-time traders who have their own full-time jobs.

Here in FX1 Academy, you will learn proven strategies that are specifically designed for busy working professionals who can only spare 30 – 60 minutes each day to trade. Our coaches walk the talk by trading these proprietary strategies on the company’s Live Forex trading account.

 

Money Management [ 30%]

Even with proven money-making strategies, new traders have been known to blow their trading accounts after one or two major losses. This is mostly due to their failure to limit their risk.

Every trader loses money in Forex trading from time to time. This is due to the dynamic nature of the Forex market. A 100% winning strategy simply does not exist. (Be cautioned if you come across Forex “gurus” who claim to have such a strategy). Proven strategies usually have a winning percentage of between 51% - 60%.

Your key to profits in Forex trading, then, is to win more often than losing. Or more accurately, to win more money than what you lose.

Therefore, the application of proper money management principles to protect your capital should be first priority when you execute any strategy.

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State of Mind [ 55%]

Even though there are plenty of information about strategies and money management available in the world, statistics have shown that 85% of people still don’t make money in Forex trading. The chief reason is that these people have not fully dealt with their own State of Mind when trading the Forex markets.

In simple terms, State of Mind is a person’s thoughts and emotions. Whenever a trader makes a trade, four human characteristics of fear, greed, hope and ignorance will always show up. The trader has to deal with these emotions in order to be successful in the long term.

For example, when a trade is facing an impending loss, the natural human characteristic to “avoid losing money” means a new trader will be tempted to widen his stop-loss, even though the strategy requires him to stick to the initial stop-loss. If he does that and the trade continues deeper into the negative without reversing, he will eventually be forced to close his trade, which results in him losing all his money in his trading account.

This pychological tug-of-war is your State of Mind, and presents the biggest obstacle to the trader’s success. Dealing with this critical component plays the most important role in your trading success.

Here in FX1 Academy, you will overcome this pychological obstacle through a highly experiential training program. This program is followed by a period of coaching, where you will be permanently ingrained with a successful trader’s State of Mind.

 

For more information about our training programs, please call our FX1 Academy
Hotline at +65 6100 4391.