How to become a Professional Trader

You only need to master one price action setup to become a consistently profitable trader.

Screen time will allow you to master one setup.

After you have mastered one setup and “own it ” you can add another setup.

This can be an ongoing process to develop your own trading style.

The best setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability.
We are all different . Our brains and personalities will gravitate to different setups. This is also true of exit techniques.
Most traders I hear from lengthen their road to profitability by trying to apply too many concepts before owning the first one.
They have studied a myriad of techniques but have yet to master any. This allows them to talk about trading but unable to consistently trade profitably.
The first decision to make is; do you desire to be a counter trend trader? or a trend trader? Eventually, you can be both.
At the beginning, or a near the beginning perhaps, you will do best choosing to master a setup and follow the trend.
If you have been at this game for awhile and are not yet consistently profitable you know what I am saying is correct.

This site contains trading techniques and setups with the intent that it will aid you in creating “your” trading style.
My personal trading style is a combination of various styles and setups. I trust this website will be an exercise in my personal understanding of my own style allowing all to benefit.

PICK ONE, MASTER IT, BE CONSISTENTLY PROFITABLE

To learn more about how to become a successful trader click here: Habits of a Successful Forex Trader

Neil Murphy said,

February 23, 2009 @ 3:09 am

I am sure learning one successful setup is enough, except that what makes money is the exit and the management of the trade while its in progress (eg what kind of stop or target) and also money management – how much to trade. So one good setup, plus one good exit plus trade management plus money management.

steve b said,

April 22, 2009 @ 1:06 am

my understanding of a setup is: “what we wait to see before entering a trade”. A setup is harder to spot when it is on the far rhs of the chart. To master the setup means to quickly see it in real time AND then to take the right actions. If you can’t consistently exit with a profit you probably aren’t taking the right actions. One of those actions is to set a target order to exit the trade with a profit. beginners sometimes overlook this vital step.

Thomas Csanyi said,

April 26, 2009 @ 6:54 am

Nial, this is about the most impressive and exciting site that I have seen. You have no idea as to how much money and time I have waisted reading books and looking at videos of traders, that are famous all over the States that amounted to very little. Thanks Nial Tom

HOLIMAX DAVE said,

June 18, 2009 @ 10:16 pm

SIMPLE AND CLEAR. I AM LEARNING TO TRADE PRICE ACTION FROM THIS SITE,SO KINDLY KEEP IT OPEN FOR ME.
THANKS

Alpha said,

June 24, 2009 @ 8:57 am

Nial, you definitely have opened my eyes to price action trading. You’re absolutely correct that no matter what indicators one uses, PRICE is king. Your video and trading methodology is exceptional. I am currently DEMO trading using your method, and thus far, I have made some great trades. I am going to continue Demo trading until I have great consistency before going into a LIVE account. Thank you for your deligence effort and for opening my eyes into somethign that’s simple, yet very effective. Please keep your information coming.

bridgespotter said,

July 7, 2009 @ 12:46 pm

Nial, the course is great and has turned my trading around. The message “Master one strategy” is one that has made a huge difference.

Chris said,

October 11, 2009 @ 6:38 am

Without having seen this article before, I’m very familiar with the message and have been preaching this same thing to a friend. He’s having this issue of trying to learn too much without mastering anything, or even going live! I’m sure that’s very common however.

Kennedy Kimotho said,

January 19, 2010 @ 7:43 am

Wow! Wow! Wow! enough said….by me hahaha…..Amazing stuff. This is life changing in I wonder what the course holds and hope to get a chance with it to change lives down here in Africa.

Larry said,

February 5, 2010 @ 10:18 am

Nial thanks for sharing your trading method with me and others that are willing to listen. I do have a lot of screen time but no consistant results. Scalping for me has taken its toll on me personally. This price action trading on the bigger time frames is the style I want to learn. It takes away a lot of the emotions that I had trying to scalp. Now to master one step at a time. Please keep sharing with us. As you say CHEERS.
Larry

richy said,

May 3, 2010 @ 1:04 am

thanks for teaching my son what i couldn’t. he listens to you. a wonderful work…your course!

with gratitude,
r

rikus said,

September 11, 2010 @ 9:02 pm

My praying to meet somebody who willingly shares his trading methods has been fulfilled. Thanks, Nial. You have changed my life.

Paul said,

April 14, 2011 @ 9:24 pm

Phew, I have been through most of this site and its very exciting. Many people who teach trading out there dont talk much about the traders mindset and how important the mental side of trading really is. The information on this site is everything any ‘wanabie consistent trader’ needs to know. No need to waste valuable time and energy trawling the internet. Obviously anyone who has arrived at that conclusion has in the past done just that, like me and many others here. Happy days