Forex Trader Training - Dont Ask, Dont Tell

By: Harold Hsu

Humans are social creatures. As children, we learned about the ways of the world by observing the people around us. We've been conditioned to take cues from others regarding how we should behave. For example, if a friendly stranger smiles at you, you'll feel the compulsion to smile back. It's only natural, isn't it?

Throughout our formative years, we were always looking for social recognition. As teenagers, we were preoccupied with the 'most popular' kids in school. It was 'hip' to like the same pop songs as everyone else, and it was 'cool' to go to the same parties as everyone else. To be liked, you had to follow the opinions of the people around you.

That's how we grew up.

But that's a deadly trait to have as a Forex trader. When you make trading decisions according to what everyone else thinks, you're finished. You need to be able to make your own decisions based on your observations; not what other people tell you.

Why You Should Stop Asking Questions

And that's why you should stop asking questions about trading. While the school system encourages students to ask questions to get answers, this is just simply not how it works in the Forex market. No trader ever got rich by following others' opinions. The trick is to find out the answers yourself. Just experiment, and observe.

Hard work and persistence is required, and this is what turns most people off. They want a straight and easy answer: "The market is going to go up to by 100 pips". That's what they want to hear.

It's Not That Simple

Sure, anyone can tell you that the price is going to go up by 100 pips. That's not hard to predict at all. The question is WHEN and HOW it's going to happen.

Unfortunately the answers to these questions take experience in the market to understand. And you won't get any experience simply by having your questions answered... that's where the hard work and dedication comes to play.

So stop asking so many questions, and find them out for yourself. Observe the market, and note down your questions or queries. Wait for the market to show you the answer. No one can give you a better answer than the market itself.

Foreign Exchange
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