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EP12: How to Profit with Multiple Markets
In this episode of Truth About FX, Walter talks about trading in multiple markets and how beliefs can affect a trader in making decisions. Also, Walter shares the story of a trader in Nicola and how her experience can inspire other traders.
http://media.blubrry.com/truth_about_fx/content.blubrry.com/truth_about_fx/TAFX_-_EP12_How_to_Profit_with_Multiple_Markets.mp3
Download (Duration: 05:46/ 6.61 MB)
In This Episode:
00:48 – multiple markets
02:19 – simple strategy
03:26 – believe in yourself
03:53 – magic of compounding
04:72 – reputable broker
Tweetables:
It is possible to achieve what you think you can achieve. [Click To Tweet].
The key to trading is believing in your system. [Click To Tweet].
Start with the end in mind and work with your mindset. [Click To Tweet].
Announcer: Sometimes, forex trading is a wild and wooly place to be. That’s why Hugh is here, to post your questions to Walter, the naked forex guy. Hugh’s got questions and Walter’s got the answers. Here at the Truth About FX Podcast.
Hugh: Hey, Walter. I’m sure you hear this question a lot because I do. How do I double my account if I’m only trading one strategy?
Walter: Yeah. It’s a good question. What I would say is, you can. The subtext of this question is: I’m not getting enough trade. Really, that’s what the real question is. I’m trading one system.
What you need to do is expand to multiple markets. Let’s say, for example, I really love trading the big shadow so, you’re trading this big shadow strategy. Well, don’t just limit it to the GBP, the Aussie and the Kiwi, the Swissie and the JPY and the EUR. Open it up and start trading the GBP/NZD, or trading the GBP/CAD, or the CAD/JPY or EUR/CAD.
You can literally multiply the trades that you take even though you’re trading one strategy simply by watching thirty charts and instead of ten or five. That’s what I would suggest.
Beyond that, I would also point out, I can link this up in the shownotes to this podcast. We recently did — maybe you’ll listen to this later so it’s not so recent — we recently had a trader on Nicola and she had a webinar for the trader in my little circle. I posted this webinar on my blogs, a link up, down there. She has one of the best webinars I’ve ever heard from a trader.
She doesn’t really teach traders. She’s just sharing her experience and she talked about how a year ago she made some money in her account and then lost it all, got hurt counting back to the original amount. Then, it took her about three months to triple her account.
Now, she didn’t do anything crazy, she didn’t do anything mad and she wasn’t trading like insane or anything like that. All she was doing is just taking the simple strategy and applying it to her account. What you’ll learn from going through that, those videos with Nicola is, her approach to trading and how she views it and, really, I think it’s a unique approach.
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By Walter Peters (FXJake) and Hugh Kimura (Trading Heroes)In this episode of Truth About FX, Walter talks about trading in multiple markets and how beliefs can affect a trader in making decisions. Also, Walter shares the story of a trader in Nicola and how her experience can inspire other traders.
http://media.blubrry.com/truth_about_fx/content.blubrry.com/truth_about_fx/TAFX_-_EP12_How_to_Profit_with_Multiple_Markets.mp3
Download (Duration: 05:46/ 6.61 MB)
In This Episode:
00:48 – multiple markets
02:19 – simple strategy
03:26 – believe in yourself
03:53 – magic of compounding
04:72 – reputable broker
Tweetables:
It is possible to achieve what you think you can achieve. [Click To Tweet].
The key to trading is believing in your system. [Click To Tweet].
Start with the end in mind and work with your mindset. [Click To Tweet].
Announcer: Sometimes, forex trading is a wild and wooly place to be. That’s why Hugh is here, to post your questions to Walter, the naked forex guy. Hugh’s got questions and Walter’s got the answers. Here at the Truth About FX Podcast.
Hugh: Hey, Walter. I’m sure you hear this question a lot because I do. How do I double my account if I’m only trading one strategy?
Walter: Yeah. It’s a good question. What I would say is, you can. The subtext of this question is: I’m not getting enough trade. Really, that’s what the real question is. I’m trading one system.
What you need to do is expand to multiple markets. Let’s say, for example, I really love trading the big shadow so, you’re trading this big shadow strategy. Well, don’t just limit it to the GBP, the Aussie and the Kiwi, the Swissie and the JPY and the EUR. Open it up and start trading the GBP/NZD, or trading the GBP/CAD, or the CAD/JPY or EUR/CAD.
You can literally multiply the trades that you take even though you’re trading one strategy simply by watching thirty charts and instead of ten or five. That’s what I would suggest.
Beyond that, I would also point out, I can link this up in the shownotes to this podcast. We recently did — maybe you’ll listen to this later so it’s not so recent — we recently had a trader on Nicola and she had a webinar for the trader in my little circle. I posted this webinar on my blogs, a link up, down there. She has one of the best webinars I’ve ever heard from a trader.
She doesn’t really teach traders. She’s just sharing her experience and she talked about how a year ago she made some money in her account and then lost it all, got hurt counting back to the original amount. Then, it took her about three months to triple her account.
Now, she didn’t do anything crazy, she didn’t do anything mad and she wasn’t trading like insane or anything like that. All she was doing is just taking the simple strategy and applying it to her account. What you’ll learn from going through that, those videos with Nicola is, her approach to trading and how she views it and, really, I think it’s a unique approach.