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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

successMost traders have heard or read that 95% of people who try their hand in the markets fail to make money; this is a very common myth that is widely circulated around the internet and elsewhere. However, this myth is not based on any solid evidence or statistics, rather it is a general statement that is factually incorrect and usually based on broad assumptions and flawed logic. Unfortunately, this myth also inhibits many traders from reaching their full potential and instills misplaced fear into their minds from the very start of their trading career.

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So, what are your chances of succeeding as a Forex trader?? This is a very important question that deserves some logic-based discussion, rather than the vague general statements that we so often read on the internet. Let’s tackle this question head-on with some supporting evidence and logical thought, this will hopefully give you some confidence and eliminate some of the “I’m just another doomed trader” thoughts that you no doubt have had or are currently having.

What Percentage of Traders Make Money but are not “Professional”?

This is a very important question with far-reaching implications. Basically, there are always people making money in the markets; in theory, for every loser there is a winner. However, consistently making money is a different story, so over the long-term there are going to be fewer traders who have made money than who have lost money. But, while 95% of traders may not be professional or full-time traders, this DOES NOT mean that 95% of traders don’t make money over the long-term. Let me explain…

As traders, we don’t need to aim to be “professional” right out of the gate, in fact, having such unrealistic expectations is often what causes beginning traders to over-trade and over-leverage their accounts. Your goal as a Forex trader should initially be to turn a profit each month, if you can do this for an extended period of time, you are a profitable trader, not “professional” yet, but profitable. Thus, by just aiming to make a profit each month, your statistical chances of “trading success” will jump incredibly. As you learn and become a more skilled trader, you can shift your goal up from profiting each month to profiting each week, and then eventually to pro-trading; over-time you will see your trading improve and your trading account grow. But, for now it is important to understand the distinction between “professional” or full-time trading and simply being a profitable trader or part-time Forex trading.

Part-Time-150x150Thus, it stands to reason that traders who aim to just make money and become good traders, rather than aiming to become a “professional” trader right away, will have a far greater chance at succeeding in the markets over the long-term. There are reasons why this is so, I alluded to some of these in the previous paragraph, but it’s worth explaining them in more detail…

The primary reason why you are more likely to experience success in the markets if you dial-down your expectations of “professional” trading right out of the gate, is because it puts you at a much more advantageous emotional point than expecting to be a pro the first month you start trading. When your expectations are more in-line with the reality of trading, you will have less desire to over-trade, and you will feel less desire to trade large position sizes as well. Since you are just aiming to make some profit each month, your temptation to over-trade and over-leverage is far less than what it would be if you felt “forced” or compelled to make a living from your trading as soon as possible, which is unfortunately what most beginning traders feel they need to do.

Since you feel no pressure to rely on your trading exclusively for income, you release most, if not all of the emotional attachment to your trades and to the money you have at risk. This is a very important point that has far-reaching implications on your success as a trader. Releasing your emotional attachment from the market as much as you can is the easiest and quickest way to experience success in the markets, and it is done by having realistic expectations, meaning not expecting to be a full-time trader right away, in other words, Forex trading success comes from within. So, given the fact that you can trade profitably as a part-time trader, the statistics of people who trade and actually make some money each month are probably closer to 20 to 30%, maybe even more, this is far higher than the 5-10% we so often hear about.

So what are your Chances of ACTUALLY Making Money as a Forex Trader?

Ok, now let’s get down to some actual facts and figures, so that you can see for yourself what your approximate chances are of making money as a Forex trader with an effective Forex trading strategy vs. a trader without any strategy at all.

I am going to approach this in terms of risk reward, basically the risk reward ratios will be the “control group” and the trading strategy or entry method will be the “variable group”, for all of you science freaks out there.

So, let’s first look at what it takes to be a break-even trader in terms of risk reward.

As you can see in the chart below, with a risk reward of 1:1 you have to win 50% of your trades to breakeven. As your risk reward moves up you can win less of your trades and still breakeven; a risk reward of 1:2 requires only winning about 33% of your trades to get to breakeven, and a risk reward of 1:3 requires you only to win about 25% of your trades to breakeven, take a look at the chart:

If you want to be a trader who simply makes 1 times risk on each trade, you have to win 66% of time with a risk reward of 1:1, 50% of the time with a 1:2 risk reward, and with a 1:3 risk reward your winning percentage can be as low as 33% to make a 1R profit.


I often discuss the power of risk reward in Forex trading, and for good reason, it is a concept every trader must understand and it is the best way to see how letting your winners out-pace your losers makes successful trading easer to achieve.

However, risk reward is not the only thing that makes a trader profitable over the long term. You also need a high-probability trading edge like price action. This will greatly increase your overall odds of making money on a regular basis in the markets, as we will see below.

The chart below on the left displays how many winners are required to breakeven with no particular trading edge, basically, over a long-series of trades, you will breakeven by winning 50% of the time on a 1:1 risk reward ratio, 33% of the time on a 1:2 risk reward ratio, and 25% of the time on a 1:3 risk ratio. With only random entry and risk reward in Forex trading, you are likely to just perform around breakeven over the long-run.

Now compare this random entry risk reward model with the chart on the right;  it shows your approximate chances of winning using a high-probability trading edge like price action trading strategies in conjunction with the power of risk reward…

Note that your chances of winning actually decrease as the risk reward ratio increases, this is because your target is further away and your stop loss stays the same distance, thus the percentage of your stop getting hit increases as your target increases, so we need to stack the odds in our favor as much as possible by using a high-probability entry method like price action.

By analyzing the images above we can clearly see that the an educated trader who has a solid Forex trading plan and who knows exactly what their edge is in the market, has a much higher probability of making money than a non-educated trader who is essentially entering randomly. The reason why the majority of traders lose money is because they number 1; don’t understand risk reward and forex money management, and number 2; they have not truly mastered a highly-effective trading strategy like price action. So, your first priority as a trader should be to master these two things.

Making money in Forex is NOT unattainable…

The odds of you becoming a profitable trader are very good if you do this, notice I did not say “professional trader”. The reason I didn’t say “professional trader” is because as we stated above, your aim at first should be to become a profitable trader each month. This is a much more attainable goal right out of the gate. Doing this will lift your chances of success dramatically because it will give you a REALISTIC GOAL and will allow you to avoid the common mistakes so many traders make due to the fact that they try to rush into being a pro right away. Start out with a plan to trade part-time successfully, you’re attitude should be to trade less and profit more / set and forget.

In closing, I would just like to say that I get feedback from my member’s all the time; emails and testimonials from people who truly are turning the corner in their trading, not because they are professional full-time traders, but because they have stopped the bleeding and are starting to see the power of effective money management and price action trading in combination with one another. Simply having a solid education in an effective trading strategy and truly “mastering” it greatly increases your chances of making money consistently in the markets.

As a Forex trading coach it is my aim to push traders onto the correct path that gives them the best chance at success in the Forex market. So, it gives me great satisfaction to know that I have helped so many traders through the quality content that I offer and the repetition of the concepts I teach, because this gives traders a far better chance at making money consistently than if they have no formal Forex trading education or no effective trading method.

author image

About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 15,000+ students since 2008. Checkout Nial's Professional Forex Course here.
  1. amao suraj August 16, 2017 at 8:35 pm

    Hi Nial,I really believed ur detailed articles on Fx trading…you hardly hear the truth of the risk behind Fx trading from a trader.But it happens when you see a qualified traders…Thanks for the enlightenment.

    Reply
  2. Rahmat May 14, 2017 at 2:09 pm

    Nial said to have this two keys, number 1; Understand risk reward and forex money management, and number 2; truly mastering a highly-effective trading strategy like price action.

    Reply
  3. Hettie February 18, 2017 at 7:51 am

    Hi Nial, I have learned a lot, and can see why your strategy is working.

    Reply
  4. dai January 18, 2017 at 8:43 pm

    thank you so much for the best and the truth lesson
    you are a sincere person
    hardly to be met

    blessing

    Reply
  5. Gaurav Pal July 26, 2015 at 4:37 am

    It was nice to finally hear somebody shed a light on the so hyped up mysterious crazy myth of 95%. Really took a load off my chest. Until now I have been counting heads on how many have been successful in trading forex, now I think I should stop.
    thanx nial

    Reply
  6. abiodun olutayo September 5, 2013 at 1:23 am

    The nail fuller’s LAW said that all trader that want to succeed in forex trading MUST trade like sniper not like machine GUN.

    Reply
  7. vladimir petkovic April 27, 2013 at 10:08 pm

    The beginning of the article is so good and friedly. Thank you ..finally a relief!

    Reply
  8. Jerry February 25, 2013 at 7:30 pm

    Thank you Nial for sharing your valuable knowledge. It has taken me over 4 years to start making consistent profits. My advice to all is
    * Be patient.
    * only use spare cash you can afford to lose.
    * listen carefully to Nial.

    FX is simple but not easy.
    Best of luck

    Reply
  9. Dan October 13, 2012 at 11:44 pm

    another great article. this website is a goldmine and all for free! ive been trading (badly) for 18 months now, and Im finally starting to see the light with your words of wisdom. keep up the great work mate!

    Reply
  10. Joe August 6, 2012 at 11:20 am

    I love this article. It takes everything in consideration. The people comment do not think of newton’s law. It is all relative. So with that said, they all say that there is not one loser to one winner. They are comparing themselves to a government or bank. It is funny that some people buy the same amount as a bank it government would. They are buying millions and you the little guy are buying thousands or hundreds. It is all relative. Make a little like you said is like a bank making thousands which to them is the same as what you made from what they risked. I like how some people think that they are the high rollers. Just my thoughts but I think that your article is great as I have been through these changes and have been trading for 6 years.

    Reply
  11. Babu G. Ranganathan August 4, 2012 at 6:06 am

    This is an honest and fantastic article. I only read one third of the article so far and I am already impressed, especially with the analysis concerning beginner trader expectations and how the emotions from such unrealistic expectations can skewer one’s trading success. Excellent!!!

    Reply
  12. Tomson July 8, 2012 at 8:45 am

    Thanks Nial,

    An “old” article maybe, but still so truth.

    Don’t be frigthend of the statistic saying that only 5% can make it here. I wonder how many accounts that are opened and closed due to margin call, but this is a part of learning process and count’s as failure.

    Cheers
    Tomson (Sweden)

    Reply
  13. Josef March 30, 2012 at 9:36 pm

    This one is absolutely perfects. Articles like this should be read on and on and ona and on. Basic, basic, basic. Thank you very much Nial for you excellent work. When I get regularly profitalble I will let you know. Josef CZE :-)

    Reply
  14. lee July 17, 2011 at 4:58 am

    I totally agree with you that the 95% statistic has no real data or premise behind it but i personally don’t think it is too far from the truth, most traders at some point get greedy or undisciplined and this often results in a wiped account, sometimes even after 2 – 3 years of successfully trading an individual will go through this stage and the fact is a very large portion of these people will quit all together whereas those that accept their mistake, learn from it and move on are those that often go onto being successful in the long term.

    Reply
  15. MARTIN June 28, 2011 at 1:43 pm

    Thank Nial, you are so good at what you teach.

    Reply
  16. Tim May 20, 2011 at 3:32 am

    A very important article for anyone in pursuit of trading success. I have looked deeply into the question of why so many fail to really make it in this game, and this article really does provide most of the answers. The reality is, that most people do not approach trading as a business, they are not professional or organized enough in their approach, and do not set out to really learn the business of trading before they put their money on the line. People also come into trading with entirely the wrong mind set , and most likely because they are seeking a change of lifestyle from one they are not content with. This equates to a low self-esteem, which will then deepen as they begin to lose their money in the forex arena, and very soon , they are gone. This was exactly my situation, coming into trading from a job I hated. I bought a trading system and was very excited about earning money, lots of money, quickly, after all, all I had to do was follow the system to the tee, and I’d be almost guaranteed to make money. I grimace at the naivety of that now, but I was like just about every other new trader out there. Far from giving up however, i set about learning the game for myself, and I have spent virtually every spare moment i have had for the last three years learning how to trade forex successfully. It is now my only form of work, and I run it as I would run any business- i am organized, disciplined, and methodical, I was none of those before. I al;so firmly believe that I will become the best trader in the world, you may laugh or sneer, but I honestly do. the best bit of advice i could offer to anyone is to believe in your ability as I do, and never, ever, risk a penny of your money until you have doubled your demo account several times over, and then only risk it on a micro account. After that, the sky really is the limit.

    Reply
  17. andrew May 18, 2011 at 11:39 am

    thank”s mate. cheers andrew

    Reply
  18. Charles Soon May 17, 2011 at 12:41 am

    As a newbie in forex trading, I aim to make consistent profits from my forex trading but have stumbled and fell many times along the way thus losing money instead of making money. After reading your article, I am aware of my mistakes and would definitely apply the idea of having a trade plan with proper risk reward ratio and also using price action to trade instead of all those lagging indicators. Very interesting article indeed! Thanks.

    Reply
  19. Jason Tay May 16, 2011 at 4:28 pm

    Hi Nial.
    Good encouragement.
    Thank you always.

    Reply
  20. Rocket May 16, 2011 at 8:53 am

    Nial,

    Another timely reminder of the basis for successful trading.

    Many thanks for your continued education and support.

    Reply
  21. hertanto May 15, 2011 at 9:40 pm

    great encouragement Nial, I’m a complete newbies and I have blown my 3 live micro accounts, and I felt failed. I should have taken your course before I open live account, and now I have to save money if I want to get your course and trade live again. LOL.

    Reply
  22. rikus May 14, 2011 at 11:59 pm

    Hi Nial,

    The articles you emailed helped me tremendously. Thank u.

    Rgds
    Rikus

    Reply
  23. Geoff Perry May 13, 2011 at 10:28 pm

    Thanks Nial its articles like this which make all the difference to novice traders like me. Thanks for sharing all your wisdom and guidance

    Reply
  24. Khairul Azan May 13, 2011 at 5:14 pm

    Thanks Nial,

    This is a good article..

    My account start turn to profit as I practice this in my trade.

    Reply
  25. FrancesCO. May 13, 2011 at 11:49 am

    This is the first time I´ve heard such statement and gladly confirms my theory, making money is not that hard. I´ve joined your course today and Im really looking forward to learn from you my friend.

    Reply
  26. Lyndon May 13, 2011 at 10:43 am

    Thanks for confirming that the goal I have set is achievable.

    Reply
  27. Jose May 13, 2011 at 10:43 am

    Very good article, I can finally see risk to reward alot better now since I found you.Letting the market do the work and not biting your fingernails on each trade is a breath of fresh air.To all newbie like myself stay on it . “You can’t fail if you don’t try, if you don’t try you already failed”. listen to Nial. Thankyou

    Reply
  28. Richie May 13, 2011 at 10:12 am

    Nial,

    Great article and your site and course is the best investment I have done. Can’t says thanks enough.

    Reply
  29. lookman ogboye May 13, 2011 at 10:06 am

    Great article from a Great Man, We thank God for your life.

    Reply
  30. Jo May 13, 2011 at 9:40 am

    Nial, Thanks for a great article that gives hope to many who may have been disillusioned into thinking they cannot make it.

    Reply
  31. Dean May 13, 2011 at 9:06 am

    Thanks, Nial. This ties up some loose ends from a handful of other articles and gives a big picture with some real clarity. Well done.

    Reply
  32. Michael May 13, 2011 at 8:06 am

    Hi Nial
    been trading a small account for four months now,three months profitable. Feel like i am starting to turn that corner since i bought your course, thank you again for all your help.

    Reply
  33. James M May 13, 2011 at 7:54 am

    Yes – another good article, as they say “Skill pays the bills” !!.

    Reply
  34. Kotijett May 13, 2011 at 7:14 am

    As I have learnt, when trading price action with a trading plan, my risk reward ratio equals profit. When I consistantly profit, my natural reaction is to increase my risk reward ratio. As a consequence my emotions end up driving the temptation to over trade because of my confidence. When I experience loss I rethink my strategy and remove my emotion and go back to my trading plan. Fortunately my threshold to except loss sends me an “alarm” telling me to stop, restructure and review my methods. As always your words of wisdom is confirmation of my own process. Thanks Nial.

    Reply
  35. Fang May 13, 2011 at 6:24 am

    Thank you Nial,
    I have learnt so much from your lessons. Risk reward is so important in fx trading.
    Thank you for putting so much energy to provide articles, videos, daily Commentry. This learntotadethemarket membership is great value for money.

    Reply
  36. Tauqeer Khan May 13, 2011 at 4:56 am

    Mathematically very strong statement and beliveablem

    Reply
  37. Wayne May 13, 2011 at 4:13 am

    Nial,

    You just keep the good stuff coming.

    Thanks,

    Wayne R.

    Reply
  38. patrick May 13, 2011 at 2:37 am

    You hit it right on the head in your article about 95% of traders don’t make money in forex trading as being a myth. It’s about time the truth came out. It’s not rocket science trading forex. K.I.S.S. Personally, I went back to trading after not trading for a couple of years and reeducated myself on the markets. I doubled my account in (2) weeks with what you taught me and I added some of my own analysis to my trades.

    Reply
  39. Flash May 13, 2011 at 2:07 am

    Well thought out and presented Nial. It sorts out the wheat from the chaff for many people.

    Reply
  40. Kyaw Htay May 13, 2011 at 12:59 am

    Very good.Realistic.

    Reply
  41. Darrell J May 12, 2011 at 11:59 pm

    Nial,
    Your simple approach to trading is the only thing that I have found to be successful over an extended period of time. Thanks for guiding those that are willing to learn.

    Reply
  42. Ricardo May 12, 2011 at 11:39 pm

    Hi Nial,

    It’s amazing the value of your lessons.

    Thanks again.
    Regards,
    Ricardo Pica

    Reply
  43. Galen May 12, 2011 at 11:30 pm

    Hello Mr. Fuller

    Thank you for a directional change in my thinking. It takes the sting out of forex for me. This coming June I will be two years in (fx) and realize that I am still on page one, first paragraph.

    Reply
  44. TRACY May 12, 2011 at 11:25 pm

    ANOTHER PLATINUM HIT, NIAL…

    Reply
  45. fasihfx May 12, 2011 at 11:21 pm

    Thanks Nial,
    A great article,a good real lesson. For some time, I am loosing money again and again with out any control,but I admit myself that my reaction to the market is like a gambler,no princple,no patience,rule or any plan.I will be successful in trading,but I have to change these bad habits and for ever.Either stick to the rules or forget the trading.That is the promise.Thanks Nial for openning my eyes so many times and this will be the last time.I really enjoyed this article,a very valuable lesson.thanks

    Reply
  46. Piotr Janiga May 12, 2011 at 11:16 pm

    Thank you for this article Nial,

    I’ve been following nearly all your articles for good few mounts and found them very very helpful. I’ve started trading real money a week ago but just wiped out my account quickly and now I’m sitting and thinking what went wrong. I can see that I didn’t follow your advices and wanted to make money too quickly. The stuff you come up with this time is just shut in 10!!!

    Thanks for that!!

    BR

    Piotr

    Reply
  47. George May 12, 2011 at 11:15 pm

    Hi Nial

    So true,simply having a solid education in an effective trading strategy and truly mastering it greatly increases your chances of making money.

    Thanks Nial.

    Reply
  48. johann May 12, 2011 at 11:01 pm

    Great stuff Nial – price action seems to be the way to go – been enjoying your videos – but this information on win loss ratio is really and eye-opener – thanks so much.

    Reply
  49. agus May 12, 2011 at 10:41 pm

    Hi Nial,
    Its true that ratio of risk and reward give probilitas more constant and more profit than loos. And entry with price action is needed to make this. Thank’s Nial

    Reply
  50. Olusola May 12, 2011 at 10:27 pm

    Prof. nail,thanks for the article.I quite appreciate your points.The write up is highly informative.I realise u can never be successful as forex trader without good money management call it risk management.Once gain,thank u.
    Olusola
    Nigeria.

    Reply
  51. Mike May 12, 2011 at 10:10 pm

    Hi Traders!
    The reason I chose to learn from Nial is his ability to demonstrate sound logic which is core skill in money management. His capability to clearly distinguish between self and mind is in truth applied spiritual philosophy at its best. It appears to be much easier to succeed at FOREX with Nial guidance. Before I get carried away I want to say, “Another great article, Nial”.

    Reply
  52. Chris May 12, 2011 at 9:17 pm

    Thanks Nial, it all makes a lot of sense.
    Just need to implement it now.

    Reply
  53. Sanjay May 12, 2011 at 8:39 pm

    Nial has enforced in his earlier videos that we must watch for what the instituitions will do at confluent levels. Their game plan revolves around lucking obvious stop loss points and then allow the market to move in the favoured direction. This happens now and then, i have been nicked so many times, which prompts me to set my SL even higher….. Thank you Nial.

    Reply
  54. Kenny R May 12, 2011 at 8:39 pm

    What can I say but wow! This clearly explains why winning percentage means nothing and it’a all about having a high probability edge and a postive expectancy system! Thanks again Nial for another valuable lesson. Excellent article!

    Reply
  55. Behzad May 12, 2011 at 8:28 pm

    thanks Nial,

    Another good and helpful article

    Reply
  56. Zac May 12, 2011 at 8:24 pm

    “nial said,
    May 12, 2011 @ 7:24 pm
    We are talking about what it takes to make 1 R.. we are not just saying ‘any profit’. The table states we are trying to demonstrate.”

    Gotcha :P. Great article; gave me food for thoughts. Btw, still waiting for my login details. Would be nice b4 the weekend where I have more time to study.
    :D

    Reply
  57. Maurice May 12, 2011 at 8:17 pm

    Hi Nial,
    Another great article. It is great to see real comments on real action. There is nothing better then someone bringing you back to reality.
    Great again.

    Reply
  58. ray barros May 12, 2011 at 7:46 pm

    Hi Nial

    Like your newsletter and insightful comments.

    I agree with you 100% that: “Simply having a solid education in an effective trading strategy and truly “mastering” it greatly increases your chances of making money consistently in the markets”

    Sadly too few beginners are willing to put in the effort – at least in my part of the world (S-E Asia).

    Reply
  59. Tim May 12, 2011 at 7:27 pm

    Thanks Nial, You are much wiser than your given age mate, and now I’m a profitable trader for that, Just awesome.

    Reply
  60. Karl May 12, 2011 at 7:25 pm

    Like you say: IN THEORY for every loser there is a winner or for every winner there is a loser. IN PRACTICE this is absolutely wrong. A big part (if not the biggest) of the participants in the forex market are entrepreneurs and governments buying foreign products. They must change their own currency into the foreign currency to pay the bills. They are never loser and buy from the winners!

    Reply
    • nial May 12, 2011 at 7:29 pm

      Karl.. i don’t completely agree with your comments, but some of what you say is correct. In theory.. for every loser there is a winner in forex.. but I agree, this is NOT true. There is a small group of traders/governments and banks that control a very large part of the market, and they are not trading, they are basically just ‘exchanging’. The thing to remember is.. companies and banks can still make a profit/loss when ‘exchanging’, but it’s measured in a different way. Take for example an Australian exporter selling to the USA. He is selling things in USD.. and at the moment he is getting 20% less profit than he would have 2 years ago. Hedging currency is also a risky business for these large players, and many get caught. The larger players in the fx market can still win and lose.. even though they are not always participating as traders

      Reply
  61. andrew treby May 12, 2011 at 7:07 pm

    Great article Nial,Hits the nail on the head with % of new traders that are Likely to succeed & why.I like the way you keep a “back to basics” approach to trading,promoting tried & tested risk & reward laws of trading essential to success Kind Regards-Andrew T.

    Reply
  62. Zac May 12, 2011 at 6:51 pm

    Errr…. only one thing I don’t understand: If you need 50% of wins to BE on a 1:1 risk:reward ratio, 33% on a 1:2 r:r and 25% on a 1:3 r:r shouldn’t you need just over those figures to make profit?? For example, if I need only 33% to BE on a 1:2 r:r then 34% wins on a 1:2 r:r should make me some profit. Why does the table show 50%???
    :P

    Reply
    • nial May 12, 2011 at 7:24 pm

      We are talking about what it takes to make 1 R.. we are not just saying ‘any profit’. The table states we are trying to demonstrate.

      Reply
  63. ahmed May 12, 2011 at 6:39 pm

    well done ace cool article

    Reply
  64. Igor May 12, 2011 at 6:33 pm

    Good article. I like your approach to trading. It makes sense and enables profit. Maybe there should be more said about setting realistic take profit to avoid unneeded losses and to raise % of winners.

    Reply
  65. Gurpal May 12, 2011 at 6:16 pm

    Hi Nial,

    Hope you are well. Another fantastic and most valuable lesson.

    Thank you for all your help

    Thanks and Regards

    Gurpal

    Reply
  66. Kizito May 12, 2011 at 6:11 pm

    Hi Nial, a big thank you for this valuable information.This is an encouragement for us new traders and gives us a new positive thinking which is different from what we were previuosly taught almost every where on the internet.You’re one honest teacher and am looking forward to joining your paid trading forum soon.Thanks you are a blessing to us…

    Reply
  67. soatley May 12, 2011 at 5:56 pm

    Very good article Niall and timely for myself as I have been reviewing my trading over the past couple weeks and it’s very apparent that I’m trading too much with the wrong ratio’s but on the plus side I’m getting to grips with price action as I’m getting the winners just not letting them run. One thing that should be mentioned is keeping a journal of all your trades as its a living document that give a new trader like myself a point of reference to analyse what’s going right or wrong.

    Just joined LTTM and I’m impressed with member site

    Reply
  68. Louis May 12, 2011 at 5:23 pm

    Thank you Nial for this valuable news letters

    Reply
  69. alan May 12, 2011 at 5:23 pm

    Good article. A lot of what you say hits the mark in my situation. I’ve been demo trading for 3 years now. I am planning to start trading for real in 2012. Although I’m not trading live yet, i would say the biggest hurdle i have had to overcome during my learning period is being able to release & detach myself emotionally from the wow! look how much money i could have made there when looking at charts in hindsight.

    Reply
  70. Geoff May 12, 2011 at 4:29 pm

    Hi Nail,

    Great article to share with especially a beginner trader like myself and I failed because I didn’t follow a Trading Money Risk Management Plan.So to become a Profitable Trader as you mentioned in your article will be considered a success for me.

    Thanks and all the best to you always.

    Geoff

    Reply

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