Can Forex Trading Be Taught?
Many aspiring Forex traders believe they do not need any outside help when learning how to trade the Forex market. I call “an aspiring trader” anybody who is still learning to trade and has not yet been profitable at year’s end. Part of the allure of trading is the independent lifestyle and freedom that it can provide for you if you are successful at it, but it takes time and knowledge to achieve this, and that knowledge needs to come from somewhere. One negative aspect of the independent attitude that trading elicits in people is the fact that many new or struggling traders believe they can effectively teach themselves how to profitably trade the Forex market (usually a huge mistake).
While it may be the case that some people have an easy time teaching themselves to trade, it definitely is not the case for most, and even for people who do effectively teach themselves to trade profitably, it is almost always after years of frustration and thousands of dollars of lost money and time in trial and error trying to trade with useless trading systems. There is a very simple way to greatly reduce the probability of having to experience such emotionally and financially painful events; follow a respected trading mentor who can share knowledge and years of experiences with you. There is no better way to learn how to trade than from somebody who is already successful in the trading business, we will get to this in detail later in this article, but for now lets discuss how trading can be taught to an aspiring Forex trader.
Nature vs. Nurture
The debate over whether or not trading can be taught simply boils down to the age old psychology issue of “nature vs. nurture”, that is, is trading a skill that can be taught to people who have no prior experience or is it just a natural talent that you are either born with or not? This issue of trading being taught vs. it being a natural gift was first made popular by the famous experiment by Richard Dennis and Bill Eckhardt who had an ongoing dispute in mid-1983 about whether traders were born or made. Dennis believed he could teach people to become great traders but Eckhardt thought genetics were the determining factor. They posted ads for trading apprentices in the major financial newspapers stating that after a brief training session, the trainees would be supplied with their own trading account.
The group was invited to Chicago in December of 1983, after learning the rules Dennis wanted them to trade with; they began trading small accounts in January and after they proved themselves Dennis funded most of the trainees with 1 million dollars in February. This group became known as the “Turtles”, Dennis named them this after a saying he had heard on a recent trip to Singapore. The Turtles went on to become the most famous experiment in trading history because over the next four years they earned a total sum of over $100 million dollars. Richard Dennis thus proved that a simple set of rules could be used to take people with little or no trading experience and turn them into very profitable traders.
The Importance of learning from a Mentor
One of the most ironic aspects of Forex currency trading is that most people think they do not need assistance from a successful professional forex trader while learning to trade. Most people are fully aware that only about 10% of people that attempt trading end up becoming professionals, the other 90% either quit or spend years of grueling trial and error before they figure it out or give up. The irony here is that most people are fully aware of these statistics, at least in the back of their mind, yet few of them are willing to seek the help of a professional trader or trading mentor.
If trading is so difficult and almost everyone knows it, then why are so few traders willing to accept help from someone who has already figured out what it takes to become successful? The simple answer is ego, arrogance, ignorance, any or all of the above. The bottom line however, is that ego and arrogance mean nothing to the market. In fact, being arrogant will only hurt you as a trader; the very fact that some people are unwilling to accept help from a professional trader is probably the very reason why they will fail; an overflow of arrogance. Now I am not claiming I have the “Holy-Grail” here to show you how to print money, but I can confidently say I have “Genuine Knowledge and Real World Trading Strategies” to teach my students, which will not only save them many years of “searching” for strategies, but if applied correctly will likely produce high-probability trades on a consistent basis.
Almost every single job in the “real world” requires you be trained “on the job” by a professional who is already experienced at the job. I think it’s safe to say that most “regular” jobs are much easier, at least mentally, than figuring out what it takes to make money consistently in the Forex market. As you need to be trained in any other skill by a professional in the field, so you need to be trained by a professional Forex trader if you want to become one. As I mentioned above; there are people who do learn to trade on their own, but I promise you their path is much harder and filled with many more pitfalls than the person who lets down their walls and accepts the help of a professional trader. Now again, I remind you, I am not promising miracles, but I am promising a “short cut” to knowledge and skills that may otherwise take you years to learn and use. As a trading coach, my job is to transfer my knowledge of trading and guide you to the correct path and in developing the correct trading mindset, so that you can then go out and continue to grow and excel as a trader.
I began as a stock trader when I was in high school, I parlayed my interest and passion for trading into a full-time trading career right after I graduated and haven’t looked back since. That’s not to say I haven’t experience my fair share of losses and frustration, because I have, but my passion for trading and natural knack for understanding market dynamics kept my head above water long enough for me to discover the best trading technique in the world; price action analysis. Once I became a fully converted price action trader, by learning from the work of others, my own experiences and screen time, my trading results began getting more consistent and eventually I was managing money for private clients and producing double digit annual percentage returns for them. My extensive work with financial firms here in Australia, as well as learning from other professional traders, has enabled me to see how the ‘big boys’ trade and further enhanced my understanding of how markets move. I have shared my trading style and strategies in my comprehensive price action educational course, which is designed for newbie’s and advanced traders alike. My live seminars have worked to further my teaching style and my students love the flare and style that I have for teaching price action trading.
Price Action is not just a set of rules
While the example of Richard Dennis and the “turtles” was a good example of the fact that trading can indeed be taught, there is a problem with learning a strict set of trading rules. Specifically, strict trading rules will not work in all market conditions; they may work great in a bull market or in a bear market, but fail miserably in sideways markets. What learning price action does for you is gives you a unique perspective on the market that allows you to profit in all market conditions. You are not just learning a strict set of rules that will only work in a bull market; you are learning a way of making sense out of price movement and learning how to spot specific price action setups that can be profitable in all market conditions. In this way, price action is truly the best method to learn how to trade with. If you take my Forex trading course and join my members’ community, not only will I share with you all of my professional trading knowledge and strategies, but in my opinion you are getting taught the most relevant and consistently effective way to trade the markets, which is without doubt, Price action analysis.
157 Comments Leave a Comment
Thank you very much for this eye opening lesson, this is great
Thank you again for this mouth watering information.
Thanks for informative lesson
Thanks for always been there
Thanks for always been there
It is really important to get training from a very experienced and successful person and I hope this good thing happens with you.
Thanks for this inspiring article looking forward to learn more from you
Mr Nail thank you very much i have been taking ur lessons for a week now, i have been giving myself lessons … I guess i moved to being the turtle guy …. i have been learning to trade for 6 month maximum. and on my fourth month i made a live account …. first entry i blew it and then the second time i tried till to now i am still growing it , mostly i use the RSI strategy…. i would look on to the price action setup.. thank you once again …….
all the way from Namibia
Thanks for the feedback. We trade and teach pure price action strategies and we don’t recommend using fancy indicators. Our main focus is to trade the price movements using simple yet effective price action strategies.
I believe that if one can understand crowd psychology a lot can be achieved as it is derived from the charts
Currrently trading only ES. Day only and using pin bar technique on five minutes which works quite well
Thinking of settling up forex account and doing position trades.
Thanks so much
Indeed you are a professional trader And I believe one day, I will become a professional like you
Keep it up… the great man.
Warmest congrats from
IDEM CHIKA JOSEPH
Your aspiring student.
its important to learn from an informed person. its a way of getting things right.
If You can learn from a master, one day you too will become a master.
Hi Nial, everything you said about ‘forex trading can be be taught’ is very correct.on
When i started ‘self learning’ forex trading, It appears i was learning greek and latin.
It was so vague and confusing, not until i started attending trainings, that it became clearer.
As a beginning trader, iam looking forward to learning more from your insights into this industry and i find this information very informative and beneficial to modeling me into this journey of becoming
a pro trader. thank you Sir
So inspirational, thank you
Article on a lot of things opens eyes. Thanks
I read your every mail carefouly ve sometimes twicwor third.Thank you….
you are indeed an inspiration to me,
your lessons are equally making my
trade profitable thanks.
I hope to learn a lot from you.
Your guidelines are aspiring and profitable thanks
Excellent article Mr. Nial! thanks for your help
I really think trading can be learned, i am just a biginner but through reading your trading lessons i have
develloped great interest in all your trading lessons and anything else you will be doing in the markets, i am so inspired and looking forward to be a proffessional trader and be a Billioner.
Nial s a very inspired mentor . Gbu . Tqvm
For my side i dont think would be posible ,all the things that i know abt trading is because of nial fuller,is not easy to get such empowering information abt forex,mo especially black people here in south africa.thanks alot i really appreciate everthing that u taught me so far abt tradin
I sent in my resume for the Richard Dennis training back in 1983, but wasn’t one of the chosen…lol. HIs methods were later disclosed by some of his Turtles…
We’re they successful because of the selection process?
good lesson to learn from your experience sir
Thank you so much Nial for this info. You are simply the best. Learning a lot from you Sir. Thank you.
You have delivered yet another masterpiece boss. I am a firm believer on the importance of training, coaching or teaching as a way of transferring a particular skill set. Can i add here that one of the other reason why someone may appear unwilling to accept help from professionals like you is financial constraint . For instance your mentor ship program is not free, so one has to come up with the money to enroll with you. I am in this category for now but seriously working towards availing myself this opportunity of coming under your tutelage soon.
Hi Nial fuller.im so grateful for your article which is so inspiring.i hope one day i will prosper in this trading system which i have been yearning for.i hope am in the right truck for success.thanks in advance
After months of searching on the net, i found that you’re one of the few that know really what they’re talking about. You’re way of trading is a solid base for any beginner. Thank you
By this PA way of trading, I feel a sense of making dialogues with the market. Thanks, two thumbs and crown for mr. Nial Fuller and his PA way.
Thank Nial, I’m gratefull.
Thanks Niel. God bless.
I believe Nial is the real deal, and he has proved himself as a truly successful trader.
In the past I have paid a lot of money for training only to find the trainer, despite having a lot of knowledge not being able to make money out of trading, and having to make money out of newbies. These clowns makes people skeptical of the real deal.
Nial I’ll be joining you shortly.
Great article Nial, I would love to learn more from you.
Thanks Nial,great posts.
Very interesting document! Thank you.
I like the experiment of Bill and Richard, it gives me some hope.
Wow, Nial you are indeed a blessing to nations.
YES IT CAN
How on earth will someone thinks he doesn’t need to be trained to become a successful trader? Even if someone naturally becomes successful trading forex, it’s as a result of many trainings he’s got either from reading or spying through books or materials of experienced traders. So tell me, how do such person understand pip, spread, lot, different candlesticks patterns etc. Even when you’re taught sometimes, especially from someone who has little knowledge of how forex works, you fail.
I have been a forex trader since 2008 and I cannot boast of any tangible profits, eventhough I was taught. Although my trainer quits years back, I still fights on.
I have been using every single lesson I learnt from you Nial on price action analysis to trade since last week, and I can proudly say you’re the best teacher I’ve ever come across with.
I’m building my account from scratch again and immediately I’m financially able to subscribe to your full training and members community, I’ll be your guest!
Love your simple Price action plan its really very helpful.
Good job Nail. I like your job. Another key thing that is responsible for blowing forex accounts is immediate gratification .
THANK U FOR YOUR LESSONS, I AM NEW HEAR I NEED MORE TIME TO LEARN,I WILL KEEP ON WATCHING YOUR COURSES.
You and your teachings are a God´s Gift to us Humans Learners. I am looking at you not to give me a fish, like you say, but to teach me to fish for a life time God bless us all, but specially you, for your precious teacnigs gift
Very thoughtful the way to go for newbie like me, I will love to get more from you. Thanks.
A Father is a feather that allows you fly further…
You want to see great views??? Stand on the shoulders of mentors…
I can’t stop thanking God for meeting FATHER NIAL so early…
I just wanted to start.. Have gone into research
Finished my courses at babypips.com (I think some of u should go there too)
And bam!! I caught Nial here teaching a priceless strategy… PRICE ACTION… God!! This guy is a God sent to me..
Nial thank you for being a father to many..
You are even a better teacher than Soros!!
I will become a profitable trader…
i was a victim of this. i read nonsense write-ups from sites of people who said “you will be the one to develop your own trading strategy” so i felt i needed not to learn from the pros. but after i have wiped out $30,000 in my demo account, so i decided to learn.
Niel; you are the best mentor i have ever met .
God bless you.
Thanks for the article Nial. You don’t only teach me, but also nurture me. You are the Guru
Good lesson Mr nial . I wound like to get the genuine trading system and some of your materials .
Thanks for the great article. Like most new things in life, you have to learn in order to able to do them well. I believe learning how to trade is no different as it provides one with a solid foundation. Certainly, there are traits in successful traders that are natural but I believe that it also takes training, experience, hard work dedication, patience, belief, discipline, sacrifice…. to achieve success. In my experience, people don’t actually see the amount of work that goes into achieving success. There is a tendency of only taking the high level view of success, and then presuming that it’s easily achievable. I honestly believe that a trader can be taught but he/she has to develop the necessary skills through training, hard work… In addition, a mentor such as yourself can help build a solid foundation as you have been there and done it. I look forward to learning from you.?
thanks Nial we need to taught enough and understand
Thanks a lot, Nial. I fully agree that yes, Forex trading needs to be taught for a trader to achieve success in the trading. Training and retraining makes a perfect trading skills. Your lessons are superb! Please keep it up.
Nial, you are just the person i need to guide me through this journey.Your articles and insights on forex trading is highly commendable keep up mentor.
As usual, a great post indeed.
you are so woonderful, God bless you.
Thank you Nial, great post as always.
Thank you again.
I wonder if that contest was the inspiration to the movie Trading Places in 1983 with Dan Ackroyd and Eddie Murphy where 2 old rich guys argue the same thing. Though, futures not stocks.
Always good to have a mentor give you a cuff in the head. Thanks for that.
Interesting post. Will try it out
very good sir as usual
Am really inspired. Thanks a bunch for sharing your trading experience and strategies. Keep up the good work. Once again, thanks
Thank you so much for sharing your experience about trading and giving me a chance to change my life !
Have a good day ,
True…and you are my mentor and, so far, all is well :-)
Hello Nial, thanks a lot for these trading tips
Very interesting !!! Thanks a lot for these forex trading tips
Just discovered your website and enjoying your articles and videos.
Thanks Nial , I will learn from you. you have so much experience and knowledge of forex trading.
I tried teaching myself Forex trading and what I found was: I just could not get my head around Forex trading even though I could see the potential. So I remained a stock trader and that was ok, but nowadays trying to trade shares is so volatile that I have pretty much decided that stock trading is not for me.
Having the opportunity to learn from you as a professional trader has given me the confidence to try Forex again, especially as an EOD trader, which with the benefit of Daily Price Action, simply makes sense. Why burn yourself out trying to trade during intraday moves, when clearly a Daily Bar of Candle has “24 times” the information embodied in it as a hourly chart.
thanks NIAL SIR for sharing everything about fx. trading. I have to learn everything about the trading stratergy from you . Thank u again SIR for being a mentor. HAV a nice day
This article feel with encouragement thanks sir.
I think it is very important to always seek for education from more experienced traders.
if you are serious about trading, then you should spend the most money on education and only trade very very small.. if you start trading live…
I also think that you cant have authentic feel for the market if you always trade demo, and you dont treat it as your own money.
Being arrogant is just stupid, if you are openminded and share your ideas and questions on forums with other traders you might learn something.
every trader must think what is proper timeframe for them and their trading style.
neal great lesson, find a mentor who will guide you to success saves you time and money …
you think you are
I join my voice of appreciation for this article.
Very well said. thanks Nial.
Great lesson keep on coming.
You are the most realistic pro trader i have come across. I want to be your member soon. God bless you.
Nial, well said, we can be lost for years without knowing that we are lost until we find somebody that can guide us safely to our destination.
This has really opened just another world of understanding the fx mkt for exceptional & exciting profitable trades for a newbie like me. I’m willing to grow to a good Professional Trader in making consistent profits in the market. Thanks and God bless.
As a Newbie just trying my hand at this forex trading i can and am willing to do with all the help i can get to be a professional trader and consistently make profit. Excellent article
Ur post has greatly enriched my understanding of fx mkt whilst am a new trader
Good work Nial.
The genetics argument put to rest Eckhardt.
Hi, I agree. With Mike Gowans above; your trading strategies are a lot less stressful and more fun than what most people know forex trading to be. That is usually a sign of someone that has mastered their craft. Thank you and God bless you immensely!
Nial,i learn from you because i know you are a professional trader and i also want to be.your price action strategy doesnt only improve my trading but also reduces the stress i gone through while trading.thanks so much Nial,to me you are the greatest mentor and the greatest techer of simplicity trading.love all your articles.
We learn from trial and error, the problem with trading is…there’s only so many errors your wallet can handle.
I absolutely agree with you Nial, when you’re starting out trading – you need the skills and knowledge to trade, you need help.
I find the lesson amusing and encouraging no one can excel in something without proper training and experience am convinced If I would like to be a pro forex trader I would have to empower my self with the right tool.
nice one Nial, educational
this is great, I wonder who can refute it, you are just wonderful. God bless you!
Thanx Nial, just read this article and totally agrees with you” more than 100%. there are no schools r institutions that formally teaches or provides the skills needed to trade the fx.
thanx God i came across your strategy last week and believe me, it has changed my thoughts about fx trading. PA is very simple and less stressful for me now. for the first time in 52 weeks, and now starting to make some really pips after learning PA strategy. looking forward to learn further from your fx trading community. keep it up bro.
Great article, I’m glad I found you Nial.
i think it can be taught but you need to have the drive for this and i am not quiting until i have mastered price action trading.
thanks again for this lesson
This is to express my thanks for all the site content that you have put forth for us newbies and giving us a good hint about your course.
I must tell you that this portal has gem of material collated in it with insightful videos and articles. Tons of it and yet to go through all. But surely would say it has helped me to look at my trades and trading differently. Feeling much more confident and relaxed.
Looking forward to be in member section soon.
hi, thanks for all your gudiance i believe you sayings are realistic,one day i will become your member
Thanks so much nial for being my first mentor..
have gone thru some of your write ups, you are the most realistic pro trader i have come across since 2008.there are so much info on your site that i wonder if you have not given out all i need to learn!i mean that you are a “giver”,a cheerful giver.I WILL SURELY BE YOUR MEMBER SOON.thanks and God increase you greatly
Another great article.
Love your simple Price action plan its really very helpful.
I am enjoying the entirety of it. I am new into it. Therefore, I need a considerable period of tutelage. Thanks
I ve always said that u are a teacher who is committed to teaching forex. Although am new to this line of business and with you I know I will make it. I thank you for all you have been doing to give this knowledge. Uncle Fuller, I was able to download the New York time trading demo from the site you gave in my email but my problem is when I want to demo trade and place my stoploss and take profit, that area does not get highlighted. so what do i do to be able to demo trade?
Jude Erameh from nigeria
Another great article Nial!!!!!
YO,NAIL THANKS FOR SHARING YOUR TEACHINGS WITH US,ME PERSONALLY IM LEARNING EVERY DAY,IM A NEWBIE IM SURE WITH GUIDANCE AND A MENTOR LIKE U I WILL BECOME SUCCESFULL SOON THANKS AGAIN.
always update me when market is good for buying and selling
and also teach me the real trading analysis thanks
i love your professional teaching thanks
i love this lesson and i need more of your professional teaching thanks
I have always agreed with you that price action method of trading is the best strategy in the forex market because I have always spent time to examine that. You are indeed the right menthor for new traders, keep your good work.
Thanks Nial for the article.
Am steadily improving on my trading.
Good article, I hope I will manage to learn your setups and convert myself from a looser to a profitable trader (another article of you that I enjoyed).
It can only get better from here.
I am so glad I have bought this course and hoping to be a successful trader in time.
Thank for the help Nial.
this is lovly Nail,Thanks
Thanks Nial for all that you do to promote Forex trading as a profession and not a gamble.
I am working on saving enough for your course so I can start-out right.
Though I was introduced to this lovely business as a day trader, I am increasingly inclined towards higher time frame trading. I wish other mentors understood the value of trading out of daily charts and the simplicity of price action.
You are a genuine trading hero!
I have been using the style of trading you teach and it has made my trading less stressful a lot more fun and really gave me more confidence in the forex trading world. Thanks for your help and I will think of you as I continue to make profits in the market because of your website!!
u speak the truth nial.there is an adage that says “a child – no matter the number of cloths he has, he can never has as much rags as his father”.
thanks nial,i was wonderin about this,after readin ua article its a kind of encouragement u have given to me……..thanks a lot rey…….:)
Dear great teacher,you have given another good lesson of immense value.There is nothing worth doing that does not require training,mentoring,learning and studying. All professions are the same. To be outstanding in a profession is a product of intense learning and studying from the respected masters of that particular profession.
Forex cannot be of lesser value.It should be learned inside and out before one should go into it. If most of us knew this before now,we would not have lost as much money,time and effort as we have done.
However God brought you,Nial to be our savior. Not that others cannot be like you but most professional traders are more interested on the material-robot,software,ebook etc- they will sell to you than your knowledge of the market.
Learning from you has been a life line for me. Since a month ago that I got in contact with you my trading knowledge has gotten better than it was in the past two years.
Thank you again Nial,
Hi Nial, I know your Price action only a month, I red most of your free lessons twice and finally decided to buy your course. It was my best decision during my 1 year trading life.All you write is valuable practical knowledge. Thanks and Im waiting for your another excellent article.
Hi Nial, thanks for the great and inspirational articles and hopefully will become a member soon.
I have read everything this is to read regarding the Turtles experiment by Dennis & Ekhardt. Very fascinating and inspirational for those of us who desire to learn to trade. It can be done! Great article Nial!
You churn & I burn (the midnight oil).
Elsewhere you suggest that one masters your 3 price action alerts-the Fakey, the Pin Bar and the Inside Bar. Is the order of doing this important? If so, what is the suggested order. A definition of mastery?
Not looking for short cuts so much as making best use of limited time. This week old member is now past 72 years and again thanks! Larry
The Pin bar would be the first strategy to master
Thanks for you priceless forex lessons.My confidence was gone because of string of bad trades but reading through materials have actually boosted my confidence.I now place wining trade.
Thanks so very much.
Hi. Nail Your website is like a ”HEALLING BALM” to me from the day I found it. thanks.
nice article Nial.. Wish that i can be a succesful traders like you someday.. =)
Nial – spot on mate!
Trading Price Action is actually very “liberating”.
Imagine a chart without all the bells n whistles? Who’d a thunk it?! Everything we see and read HYPE’s up the “Next best system” – all rubbish! And of course I’ve been victim of the same high powered marketing. I mean in reality, MANY people are “visual” beings…so it’s only natural that we want to SEE things on a charts to help guide us. Unfortunately, that is exactly where indicators cloud
our vision from seeing the technical truth!
Not only are ALL indicators some derivative or algorithm
of price itself, they’re detrimental to seeing markets clearly. ALL indicators lag, create a crutch, generate conflict and noise but mainly…they cloud our vision
from what’s most important…price!
As always, a clean, clear and educational read.
Great thought Nial and well-written. Keep sharing. Like it when you mentioned about the importance of having the right mentor. Hoping to get ‘front seat’ to learn from you more.
Hello Mr. Fuller
I understand the importance of mentors in life, how important they are; or life becomes your mentor and how difficult that can be. I am applying your educational material to self and after being a student of yours for some time now have come to realize the significance of such a article.
Thanks Nial..thts all i can say for now.. . ..frm ur free articles & videos u seem to know a lot about PA.. Think i will be a member one day..
Good article – well explained.
The problem is that much money is spent on trying to find a good, honest Professional Trader. Unfortunately, with the internet, virtually anyone is able to start a website claiming to be just that!!
The difference with you Nial, is that you show SO MUCH for FREE!! Articles and Videos, which I am working through. These give a taster of what is on offer and better still, tell us about you.
I wish I’d found out about Price Action and Nial Fuller years ago. It would have saved me a lot of time and money.
Very good article. Thanks for ur support Nial.
Thanks for your article. I am new to Forex and am currently wading through the plethora of information (including your videos and blog) there is trying to find a good broker and mentor.
My goal is to be in the 10% that succeed so I wanting to learn as much relevant information as I can.
Hey Nail, as always good lesson. I think it can be taught too.
Whith the teachings of a good mentor as your self, and actually wanting to learn. Thanks Tim.
Thanks for the article Mr. Fuller, I believe it is a convincing argument on price action strategy. I will enroll and take the price action trading program.
I started with Forex 3 months ago and I consider myself quite fortunate to learn about something called Price Action.
As usual, great article Nial.
Over the past two years I have lost faith in my own abilities (was a successful buy and hold investor in mostly mining stocks . . . copped a big hit in ’08). I now keep looking for a mentor-style program to rebuild my confidence. Your article hits home, along with ego, arrogance and pride another aspect could be shyness (unwilling to follow through for fear of ridicule/failure). I find your simple straight-forward attitude and realistic approach a plus when looking for education and, more importantly, a mentor.
Hey Nial, thank u so much for all your dedication in teaching us your methods. I will be looking into taking your course when i make some money. Great article as usual.
I enjoyed this article and agree that it is a summary of the truth when it comes to FX trading. Get some training/mentoring, pay attention, and focus on price action. I also personally believe that a person needs to lose some of his/her personal money in trading in order to feel the pain, make it real and thus learn. We need to form a turtle group for FX trading! The snapshot of the girl is also an essential element of this and hopefully other articles. Nice touch Nial.
I bought your course a while ago, then became distracted and lost in a sea of indicators! I’ve just read your revamped course (excellent stuff) and have gotten back on track.
As a fellow Aussie could I ask the time of day that you trade? Is it the London session?
All the best
Wendy (Qld Australia)
Hi Nial, I have been following your style of trading, your videos and articles for a couple of months now. I really have found your method profitable in some regard, but as soon as I went to 4hr charts my results became not so good. I am wondering though, Is teaching a way of giving back or is it a income generator for you?
Very well said Nial. If you want to make it as a trader you have to learn. And learning from others is a lot more effective and less painful than having to learn from your own mistakes.
All experts that i’ve read and researched, state PRICE ACTION IS THE WAY TO GO !
Very good article yuo wrote, around my place daily we have a evening coffe talk, regarding the price action but most of them still blurr about it and unpession to enter the market and end up lost. In Malaysia and around my place a lot newbies entering market but end up lost. Anyhow thanks again for your adviced and artical. Now myself have more confidden entering the market.
Thanks Nial..a very good write up..just one question, when you use price action analysis, do you look up at news? ..as some important news might distract/disturb your position if you open your position before its announcement, like the Non-Farm Payroll?
I rarely look at news. In case of NFP, i will note it and be aware of it, but it won’t come into the equation very often.
What I would say is that you and I should count ourselves lucky to have found a genuine guy who teaches pure truths and a B.I.G thumbs up to you Nial, thanx for the education that you keep spilling to willing followers of you.
Nice 1 Nial. This article precisely portrays my trading experience. Many traders start off bold and prideful but the market quickly humbles us. I was one of these traders and lost 10k trading news/fundamentals along with technical indicators. Applying your methods of price action with the trend at horizontal levels has helped me recover much of my losses. Most importantly your techniques of clear stop losses and risk/reward levels have given me the confidence to trade even after consecutive losses. A traders willingness to be open to mentorship from day 1 will limit much of the frustration and confusion that we encounter when starting out in the market. Thanks again Nial. – Josh
You have written a good article. However, I would say that it’s not just “pride and arrogance” that prevents newbies from paying to get a mentor. As you say, most newbies spend quite a bit on “education” or at least what they think is education and then realize that they were mislead or it was a simply a scam. Many people sell forex mentor systems (even if it really is a system or a signal service). The main challenge is to determine if the “mentor” is a genuine one or if he is just another scammer. With the internet being so impersonal and so fake (affiliates), only a recomendation from a personal freind who has worked with you would create instant trust. But of course, this is does not happen frequently. I have followed your newsletters for a while and I sincerely feel that you are genuine…
Thanks for the articles, always nice to read.
my son has decided to try his hand at trading and he has mentioned your name as his teacher/coach. i couldn’t be more pleased with his decision. my wife and i also hold you in the highest regard and anyone is fortunate indeed to know you and of course be taught by you, nial.
all the best to you!
I agree with you that the knowledge of price action is the best way of trading profitably, it’s really working effectively for me. THANKS NAIL FOR YOUR TEACHINGS!
I agree ”learning price action” is the way forward for me.
At the end of the dat, it is the movement ib”prices’ that we are all trading!
As a newbie, my set-back so far has been not recognising o/bought and o/sold areas!
Ideally, like all serious traders, i would like my take profit target to be triggered before stop loss target!
still learning…your guidance is priceless
Great article Nial and olso i like the :) “hot-chik”
Interesting post, I believe that trading can be taught, but only if the aspirant really wants to learn how. Trouble now is that so many marketers sell automated trading systems and robots, that it takes the aspirant some heavy losses to realize that not only has he/she paid loads of money for a pile of rubbish but they also wasted thousands more trading it. It is harder to convince would be traders to spend a couple of hundreds $ on education that sell them the holy grail robot for $500. Such is human nature and the desire for instant karma, and it aint about to change soon. Thousands will come, lose their pants and look for the next get rich quick scheme, funny how people grow old but not up.