The Minimalist Guide To Forex Trading & Life
The inspiration for today’s article comes from something I am currently experiencing in my personal life. I recently sold my luxury house in Queensland Australia and am currently renting while my family and I decide where we really want to live. Our plans were to eradicate all assets and debt, as my wife and I are both quite young and with my profession as a trader and coach, I have the ability to be mobile. We decided that we wanted to try living a stripped down and nomadic lifestyle for a while and welcomed the freedom it promised.
However, this doesn’t mean all people will want to be nomadic and travel around the world living in different places. The lesson that I want to put forth today, is that as humans we tend to over-clutter our lives with addictions and materialism (houses, cars, so forth). Halfway through 2012 I said enough is enough and I set out to completely remove all clutter and unnecessary possessions, even small things. Basically, I wanted to be free of all these burdens…because I realized I had a bunch of stuff I didn’t need, and I felt it was holding me back. I had more than one car that I didn’t really need, I owned a house I wasn’t happy with and that was too big, etc. I just felt I had too many things that were cluttering my life and my mind; my goal was to set out to only have a suit case, a laptop, and my favorite book.
The reason I’m sharing this story with you, is because I believe that most of you out there can benefit from applying a similar logic to your life, i.e. de-cluttering, liquefy assets and removing debt. People can interpret it however they want, but the core thing is to keep with you only what you absolutely need in an effort to save time, save money, remove stress, and more.
… So what the hell does this have to do with trading you ask?
What we are setting out to do today is to become ‘minimalists’ as applied to trading, and as we have discussed already, this can apply to other areas of life too…getting rid of unnecessary things…all possessions that you don’t really need…all unnecessary emotional attachments to things, minimalism is almost a religion of sorts. Many of you know that I take a very stripped down and simple approach to trading the markets, and so if you think about the benefits of being a minimalist in everyday life, it really is no big surprise that it’s also the best way to trade the markets.
To find out more about “Minimalism” as defined by one of the blogs that I follow, click here.
Forget the stereotypical facade of a pro trader
The first step to becoming a minimalist trader is to lose the facade of the cliché trader with his lovely office, big wooden desk and several stacks of monitors with the latest trading software – you only need a laptop, FREE trading software (get it here), an effective forex trading strategy and your brain. The reality is that you do not need a big office, multiple monitors and an expensive data feed to be a successful trader.
The stereotypical facade of a “pro trader” is what many of us are addicted too…but it’s not reality…reality is a guy trading from a coffee shop on his PC.
Get rid of all the excess weight you have if you are still learning how to trade or you’re struggling to trade successfully. If you want to add a big trading desk with multiple monitors and all the bells and whistles after you become a successful trader, that’s OK. But don’t think you need to go out and drop 5 grand on your trading office in order to make money in the markets. Some of the best traders in the world just trade off a laptop. You don’t NEED an office with 3 computers or a fancy workstation.
I personally have gone from having a big trading office with multiple monitors back to an Ultra book PC and wireless internet, sometimes I even use my iPhone for my web connection…I realized my ego and greed took over before, and these things negatively impacted my trading.
Minimize what you put on your charts, maximize trading results
Unless this is your first time on this blog, you probably know that I teach what some might call a “minimalist” approach to trading. However, you might not know WHY I trade and teach this approach.
It usually takes every trader a certain amount of trial and error before they figure out that most of their trading mistakes resulted from ‘stupid’ things they did, and not necessarily from the trading method they were using. Most traders lose money because they make emotional trading mistakes; this is something most all of us can agree on.
However, the role that having tons of “crap” on your charts plays as a contributor to your trading problems, is often overlooked. Just as the materialist mentality of needing to buy more things to make us feel happy or fulfilled is a flawed mentality, so is the mentality that adding more technical indicators and analysis tools will somehow make you a better trader. One of the big secrets to success in all areas of life and indeed even to happiness is that less is often better. Just as having less material things in my life has significantly increased my peace of mind, bank account and time spent with my family, it can also help you to become a better person and trader.
I mentioned above that trader error is the main cause of losing money in the markets, not the particular trading method you use. However, most traders naturally assume that it’s their trading system or strategy to blame for their losses in the market. They then set out on a quest to find the ‘best’ trading method, adding indicators, Elliot Waves, super-turbo 5,000 trading robots, and everything else under the sun to their charts. This provides them with a false sense of security and hope for a while, until they realize it’s not doing anything to improve their trading results. The point here is that MORE IS NOT BETTER!
You see, as traders our trading mindset is the most important piece of the puzzle. However, the strategy or system that we use to trade with can and does have a profound effect on our trading mindset. So, when we try trading with 10 different indicators on our charts, we get confused, conflicted, and frustrated and once this happens it’s only a matter of time before these feelings result in impulsive and emotional trading. So, we can see that our mindset is perhaps the key to success in the markets, but because our trading strategy influences our trading mindset heavily, it too is very important.
The next time you want to put an indicator on your chart ask “Do I really need this? Is this really going to help me?”. “DO I REALLY NEED THIS?”….We want to only trade with what we need …..
How to incorporate minimalism into your trading routine (and everyday life)
• Ditch the forex indicators and trading robots and start over with a totally clean price chart. This act alone will do a lot to calm your nerves and your mind while analyzing the markets.
• Learn to trade with simple price action strategies. After you ditch the indicators you will need to learn how to trade off the raw price action of the market. Whilst this might seem different to you at first, I can promise you it’s a lot easier and makes a lot more sense than whatever messy method you were trading with before.
• After you learn to trade with price action, understand that you don’t have to spend a lot of time analyzing the markets each day. You can learn to trade in an end of day manner and fit trading in around your day job.
• Forget about trying to analyze 20 different markets each day. Minimize the markets you trade and this will work to sharpen your focus on the handful that you like the best. I focus on the major forex currency pairs and a few other markets like oil, gold, and the Dow.
• Don’t worry about multiple monitor setups, fancy trading desks, extremely expensive computers, monthly data feed subscriptions, or any of these other ‘luxury’ trading office items. Truth is, you don’t NEED them. They are nice things to have if you can truly afford them, but you really don’t need them to trade successfully. I can afford these things but I don’t have them anymore because I realized they were contributing to feelings of greed and materialism, and most of all I realized I just didn’t need them.
• One of the things I also did was got a P.O. box for my mail. This might seem like a small thing, but it’s all about downsizing and consolidating, and each little thing you downsize or get rid of adds up. Now, I only collect my mail once a week, this saves time and it changes the ‘process’ of your life…I took a minimalist approach to getting my mail, this freed up time and energy each day to devote to other more important things, even if it was a small amount of time each day.
• Make sure your trading room or trading location is clean and simple. Whether it’s in your home or from the local Starbucks, make your surroundings minimal. You don’t need 50 trading books sitting around, instead, pick your favorite 3 and keep them with you (hopefully one of those is my book :)). If you have to, put all the ‘junk’ that you really don’t need in a storage unit, I did that, and it really makes you realize that you don’t need the majority of the things you thought you did.
People like to hoard things; they hoard possessions, money, collectables, you name it. It’s a fact that when most people get a pay raise they simply tend to buy more things (crap) that they really don’t need, thus keeping them stuck in a perpetual cycle of consumerism and materialism. I am telling you that you do not need to live this way. You don’t have to be a slave to debt anymore, and you don’t have to try and keep up with the “Joneses”…who cares about the Joneses, they aren’t that interesting anyway.
You see, there’s a common thread between minimalism as a lifestyle choice, a trading choice, and happiness and success. That thread consists of the fact that material items do not bring you happiness, trading success is not the result of having lots of indicators and fancy office equipment, and success is more easily attainable with a clutter-free and streamlined lifestyle. Have you ever seen that show “Hoarders” on A&E? If you have seen it, you would agree that possessions don’t make you successful or happy. Materialism is a real addiction, buying things satisfies some primitive urge that we need to feel secure. This is very similar to why traders get addicted and dependent on indicators, reading economic reports, trading robots, and you name it. We tend to overlook the most obvious things in life, such as the fact that happiness is readily available for free by just spending time with loved ones, or that the raw and unobstructed price action of a market provides us with all the technical clues we need to develop an effective trading strategy.
From here, you need to take the next step and decide if you are living a cluttered life, and if so, how can you de-clutter it? Similarly, you need to take a look at your trading approach and decide if it’s simple, logical, and effective or full of clutter and confusion. If you want to de-clutter your approach to trading, I suggest you checkout my price action trading course and see just how much taking a minimalist approach to your trading will improve your overall trading results.
Good trading, Nial Fuller
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237 Comments Leave a Comment
All I can say is Roger that!! Simple equals peace.
Fabulous article. Really resonated with me. Cheers.
Thanks! Glad you are enjoying the article.
Thanks and have learn a lot from your articles
In trading you become better in trading and personal life.
Simple and clear
Anytime I read your article I get some thing different in my trading as a bigginer .Before I switch to price action trader, I was confusing myself with a lot of indicators. I nearly gave up my trading ambitious. Thank to you,when I started trading price action my account started growing again. Thank you.
This is just the key to happiness and peace of mind in life. Thanks sir for this interesting and motivational article.
Thanks Nial. You just woke me up from a slumber.
Minimalism in life, minimalism in the trade … I like this idea! Thank you, Nial, for interesting thoughts.
Hello Nial, as you can see, your article here is quite challenging to me, for a man like you to have such understanding for living a simple life of minimalist. I love it. Even, the Bible says our life does not depend on many things! You simplify trading and its process, even for those who don’t have much to live on in this life, happily, people that are only looking for the way to break free from bondage of poverty, who are thinking that perhaps if they learn trading their live will change and that maybe they may be able to have good lifestyle that have meaning, which they have long wished for.
Thank for you producing such an article like this. I think if you give me money to start trading now, it won’t make any change in my life like the article you produced here has done right now. I can see naturally that you really wish to teach people how to fish from the bottom of your mind,but not because you want to sell your product and thus make more fortune, so that we can reach that level you have attained now, as newbies in forex.
Trading is a real business, but not a gambling. And only the minimalist can succeed doing it.
Many thanks to you here again, boss.
thanks Nial,Great Arcticle.
This is the most spiritual and truthful article I have read in a long time. Nial, you are a bless to new and seasoned traders. Have a wonderful time
This is more than human mind. I enjyed this side alot, my life complately changed. The way i think is totally different before this side. Most of time we as people, we live to impress other people, we buy big cars,big house to make other people to see we have money but in those big cars and houses there is no peace.
The same thing when a man marry beautiful girl in the village all eyes are on him but inside the girl there is no beauti, no peace in the house.
Below quotes made me think twise regarding life.
The lesson that I want to put forth today, is that as humans we tend to over-clutter our lives with addictions and materialism (houses, cars, so forth). Halfway through 2012 I said enough is enough and I set out to completely remove all clutter and unnecessary possessions, even small things. Basically, I wanted to be free of all these burdens…because I realized I had a bunch of stuff I didn’t need, and I felt it was holding me back. I had more than one car that I didn’t really need, I owned a house I wasn’t happy with and that was too big, etc. I just felt I had too many things that were cluttering my life and my mind; my goal was to set out to only have a suit case, a laptop, and my favorite book.
I already read this article 5th times. Never get bored. Always learn/realise something from this writing.
great article Nial .
it just guide lines for success in life .i like it so much .
thanks a gain
Dear Mr. Nial,
Honestly speaking, I am over 50 now. The life you described in you article is just what I pursue. Although I am just a novice trader with less than 2 months trading history with PRICE ACTION system, I firmly believe that I can realize the dream in the near future.
It is you, your life and your belief that is encouraging me to go to that goal.
Thanks for your valuable article and priceless ideas in your articles.
Best regards to you and you family!
Very inspired article, must put into action now
Thanks God for you.
Excellent article. This read gave me a lot of things to think about the important aspects in life. Thanks.
Good to know it was a “luxury house” you sold and not an ordinary house lol!
I think we have the same personality. Honestly I am a type of person who went to a journey to find my true purpose in life. I was in the military and I resigned. Life wanted me to pursue freedom and true ‘dharma’. Forex is one that caught my attention and with this minimalistic approach, I can conclude that life isn’t for materialism, but of purpose. After all, material things cant be brought when we are gone.
This article has great impact not only to our trading approach but to life as we live it.
I just have 1 book for forex trading and its yours
Thanks Nial for your soft philosophy, nice heart, and peaceful mindset.
that’s an great article, minimalism is also about control the desire of making too much money, which is not necessary sometimes. all we have to know how much is too much, thanks!
Agree, I once listened to a motivational speech over an hour long and the theme was
“every mess in your life is a lock on the gate that keeps success out”
I still have a bit of cleaning to do but just that one hour improved many things.
This is a practicable write-up. I am glad Mike Fowope referred me to your page. I have no regret one bit.
The above is great!!!!!
I am delighted to learn that I can apply my philosophy for life to trading. I have always hated owning too much STUFF, and try to get rid of what I don’t actually need. One has to be careful not to get rid of some things one needs only from time to time, like once a year, etc. but even those things could probably go without causing too much pain!!!!!!!
Great article Nial.
The more stuff around you, the more there is to take your attention.
Thanks coach. The minimalistic approach is effective, and like most things in life ‘Less is More’. I now need to work on changing my mind-set and trading method/systems.
Keep It Simple Stupid (K.I.S.S) Since I started following your Price Action trading technique I have learnt that following those secondary tools can only cause me base my action on a tertiary “tools” that usually cause failures in trading. In a nutshell, the kind of EAGLE EYES that raw price action helps a trader to develop , which is an essential ingredient to trading success are killed. However I must confess to that I still find it difficult to abandon RSI which helps me to measure the market intensity
Young, established, successful and secured future, one could say and write the dreams of many, would you have written such an interesting article prior to such an admirable achievement? I wonder.
Wish you the best in life, health and wealth
Thanks Nial. This ‘minimalist approach’ to trading in Forex will go along way in promoting the trading. As using ‘robots’ ‘trading signals’ etc are just waste of time, money and energy. Regards.
Could not agree more. I started 5 years ago and will be totally dept free by Christmas. I am presently trading on a dummy account. My goal is to get to 3%-7% per month at some time in the future and go live.
nice write up once again. i have started putting it into practice.
hi nial, trully agree wt u here…I hv started this approach n beginning to like it. thks
Simple is better.
Minimalism and cleaning up the charts
Thanks for this inspiring article. I have recently moved over to having a set of ‘naked’ charts to use for analysis and must say that the minimalist approach and de cluttering certainly has a calming effect. I have found I can focus without cross checking ten different things at once to see if they all line up. Great article.
That’s true happiness does not come from thousands of unnecessary things we don’t even have time to take care of them but it comes from few things we value the most. That was a very wonderful article Nial thanks so much
Coming from someone who’s always been highly stressed, I can tell that most of the stress was caused by trying to keep or add to the mountain of ‘crap’ that nobody really cared about, including myself. And I suppose it is that same mindset that causes people to over-trade (and lose all their profits) because they want more and more, always discontent and never satisfied with the few high probability price action setups that the market presents to them each week. Having a minimalist approach to all aspects of life, including trading the markets, frees you from that emotional burden. I’m very new to trading but I’m glad that I found your site so early on. Thanks Nial, great article as usual.
What a great tuition to learn from
Perhaps your most important article
I keep falling in love with this website day by day…. Nial u rock
Thank you for sharing your thoughs, Nial! Have a magnificient life! You defenitely deserve it!
I’m very interested in the way price action
Please help me to learn it
I’m very interested in the way ……….
Please help me to learn it
This is the best advice I have heard in a very long time! even this article was stripped down, simple, and to the point! Thanks Nial!!
Simplicity is the key to success in the market
Excellent lesson Nial !! I can definitely relate to this one … in 2005 I went through some uncontrollable misfortunes and ended up at a crossroads in my life… unsure of where to turn I knew one thing was for certain I could either sit and feel sorry for myself or I could make a change.. so a month and a half later I ended up in a training course to be a commercial truck driver …. almost ten years later im still a truck driver and pretty much live out of my truck… no worldly possessions no real bills my truck is set up with a fridge, a bed, and closets for my clothes.. I use my phone wifi for internet and I spend my days traveling the US and getting paid to do it.. and there is no stress of worrying about a house id never see, a car id never drive … I wake up everyday in a new place and never the same place two days in a row and my life is simple …
Another awesome post and very inspiring.
I’ll try to apply this style of trading and lifestyle.
Glad to know you.
It is a very important topic you touch about minimalist, you always have unnecessary pressure of buying things that we are really need. The topic for me is an ear opener to avoid such cluttering things which are the waste of time. The idea of suitcase, laptop and the book, for me is a going because I like travelling a lot, the guy introduce me on trading, it was my first question to ask if I will able to travel not to be in one place as security guard.
Thabo Ntshisi RSA
You are totally correct in everything you said.
It make me think, why this crazy competition
to obtain more and more things that after a while
we don’t even use any more.
I wish you the best of the best for you and your wife.
Te deseo la mejor suerte amigo.
Great article Nial. We came to Australia from NZ with a suitcase each. We topped up with some quality roadside kerb throwouts. Now we have a container full of nice stuff still in NZ we don’t need but are happier than ever.
Thank u Nial. Your article was very inspiring. I am happily retired and debt free and now I am planning to make alternate housing arrangement for my 2 siblings. Both my children are well off on their own and now I am planning to dispose off my very big house and want to be free of material possession which is holding me back.. It is a great feeling to be clutter free and live a simple life style.
Thank you very much.
One of the best articles I read. That’s the way of life I want. Basically free of everything.
It is a grate plan for life .
Nice to you .
Great wisdom and very wise approach to the life in general and to the trading particularly.
Great thanks for all your efforts, the more I read the more I understand and to be onset with you since my subscription to your course, my mindset become less stressful and more calm.
It is truly amazing , even though still I;m struggle with trading because I;m still newbie and mostly the issue of discipline, hopefully with more great articles from you I will be better.
Have a wonderful CHRISTMAS and may GOD bless you .
Completely and utterly agree. As a strict and regimented minimalist myself, I am currently incorporating this into my trading. Raw PA tells all. Brilliant article.
He or she that loves the TRUTH will love this article because it is the TRUTH. Thanks so much Nial .
Your explanations realy good,usefull to me.
Nial thank you so much for this wonderful lesson.It is true whatever is inside a person is
reflected in his various actions in life..the way he eats ,sleeps,dealings with others and
of course trading.You are a good teacher because you follow what you preach.Thanks
This is my dream
I enjoy your writings and website so much as it is straight from your heart with honesty and love for your fellow man. You are wise and kind beyond your years. I have learnt a lot from your blog and I feel more confident now. Please also have a look at some Buddhist teachings which I am sure you will find some resonance with your way.
Thank you again
well said Manjula I truly agree with you. All of us must emulate Nial Sir
excellent article.truly,we do not need to cluster our mind with all these add-ups and pillations as there only burden our life.paul
A very informative and enlightening Post if understood correctly.
I would just like to add that the right Balance in everything we do is also very important.
Thank you Nial.
This article is the most motivational article I’ve ever read!
Agree! you’re the best. You’re a leader my friend.
I read this article 6 months back, but did not understand its quality, and today i read it once again and realized Nial sir wants us to be successful not only in trading but in real life too..
I really appreciate ur support sir
hello Nial and other traders,
this is the first time to leave a comment.
im from japan and have been enjoying your articles.
this is one of my favorite ones.
thanks for your brilliant thoughts that
make me and other traders more educated (in simpler ways),
and please keep updating your top-edged free articles, which i think, are more worthy than most of other published books by famous authors.
All good points. You would really like the philosophy of Taoism if you aren’t familiar already… We can’t take any of this ‘stuff’ with us when we die – so what is the point in being so consumed by it? Friends and family are much more important.
less is more..
plain chart are powerful more..
and minimalist equipment and stuff are comfortable more..
oh guys, but I have more wellness, bio food,…in my mind, I aready have my 12 years old dream car – what could also be some kind of holding back.
I have never have soo much money that I can afford all that clutter, but when I will have it, I will have to try and I have to have a little, little pampering ;)
Have a nice trips Nial !
This was just awesome. I have struggled with this and have been moving in this direction and now it will be one of my 2013 New Year’s Resoulutions. I will be spending a lot of time on the Minimalist website and I agree “Less is More”. It’s a face that when you walk into a busy room you automatically become stressed because your eyes and mind pickup all of the stuff in there and tries to categorize it and organize it. Get the point, it’s tiring and stressful. The point, clean it up and out. Enough said. thanks again for this wonderful article.
Another great article !!Honestly, this is a radical departure from my pre-conceived notion that a trader needs state-of -the art facilities and sophisticated trading system to be profitable. l endorse the minimalist approach and de-clustering system as necessary ingredients for successful forex trading.
Excellent …. too many things keep us too busy to declutter
Excellent article Nial – I need to declutter & stop competing with the Joneses. Houses do become bigger, to house all the unnecessary “stuff”, Cheers Grant
Hi Nial, I could not agree more, My own trading improved greatly when I eliminated all the crap from my charts, I only trade in direction of the trend and use candle setups for my entry signal. As far as declutering my life, that too is my goal, Thanks
Nice article. Will have an eye on your next article.
Great for you, Nial! Yes, I discovered the same truth a few years ago when I was unemployed. Since I do not own a home or automobile, the personal clutter of “stuff” is my only challenge today. Thanks for sharing.
Great Article. I totally agree, the trading mindset combined with clean charts is so important in all aspects.
Yeh! that sounds cool.. I go with that.. keep it simple.
Good luck with your new relocation, take your time.. let it cook for a wile…
And thanks again for your fine guidense ‘where would we be with out it’…
Best 1 !
You have grown a lot through trading Nial. Possessing too much things, inevitably create burdens. Freeing from things as well as our own thoughts (inner chatting) can make the mind fresh and strong. This leads to true happiness. Wish you for happiness and peace. And thank you for your teachings
The Best Article i have read after a long long time. Thanks Niel :)
Brillante. no solo para el comercio de divisas o el trading sino para todos los aspectos de la vida y aun mas importante el unico camino hacia la felicidad. Disfrutar del aqui y el ahora del presente sin pensar en antes o despues en lo que tengo o tendre en ilusiones banas. Todabia me viene a la cabeza cuando compre la moto me pasaba el dia mirandola despues de mucho tiempo lo unico que deseo es que me de el viento en la cara y ver lugares sitios y gente libre y no enganchada a las tiendas de los chinos.
Un saludo Niel
wonderful article…..a few years ago my wife and I sat down one evening and looked at the bills. I had just maxed out Mastercard so I could pay Visa. Visa was maxed out because I had to make payroll for the restaurant we owned. We had two cars and one truck, a mortgage of about 95% of the value of our property and hardly any savings for a rainy day since it seemed to be raining every day….Long story short we no longer subscribe to that lifestyle, have next to nothing in debt, savings for many rainy days and now have the freedom to do as we wish with our days. I have taken this approach to trading also with very good results….not great results, but certainly encouraging. Will be hearing from me again…..Thanks for the Great article. Swede
This is without a doubt the most important article youve written Nial. Once we are free of all the things that we truly dont need then we can give a more focussed attention on what we truly important to us.
The attainment of anything in life is not about addition but more about subtraction. living in the NOW.. enjoying this present momment opens up opportunities in all areas of life.
With twin baby girls, the concept of decuttering is brilliant! I have started today n my office and my desk now only has my laptop, my trading record book, calculator and phone. Tomorrow I’ll start clearing out the floor? I really like your idea of being a minimalist! I’am feeling the stress go!! :)
Great article.One thing I like about Nial is that he is truthful and realistic.Unlike others,they are just full of crap and lies.They claimed that they became rich trading forex.I truly believe that all his articles is based on his experiences.God bless you,Nial….
Nial,you don’t know what you have achieved in my life through this article! My anxieties have disapppeared, fears have vanished, worries no longer in my mind as my perception about life is changing. I thank GOD and also appreciate you for your words that have come to me at the right time.
truly this article almost makes me cry, went very deep inside myself.
Nial, one question: the title of your favorite book that you keep.
Thanks a lot and regards.
Hi Nial and fellow LTTM members.
I recently read the Tao Te Ching by Lao TSzu which is a 5000 year old chinese way of living. One of the reasons why i joined LTTM is that Nial speaks from the heart and also i beleive wears it on his sleeve (Very transparent). This article is pure Taoism. living with all the “wants” and “must haves” do nothing for our true selves only to imprison us by keeping up with the Joneses.
Thank you for sharing Nial. I was dreaming of setting a trading office with several computers and large desk. I understood that a simple laptop is enough.
its really great to here such true from a wealthy person like you. Hope you enjoy your live as much as you can.
Our life is not made secure by what we own.
God bless u nial…..
very excellent and agree with all ur view
I am a minimalist. So I fully agree with you.
wow! this is a big eye opener for me, just change my mind on so many things about my trading and life in general…… WONDERFUL article Nail. minimizing everything now.
Awesome. Nial I did the same thing this summer. Now I am completely out of debt and man it is so liberating. Gave away 90% of my possessions (they were only serving to creat work and stress for me) now I can move on a moment’s notice. The P.O. Box – great idea – I can live anywhere and my mailing address remains constant – having eliminated the bills I dont get much mail now anyway.
I trade with pivots on some charts but other than that – naked charts.
This article really resonated with me.
ENJOY YOUR NEW LIFE with your NEW WIFE!!
This is what I have look for a long time！
This was a Great Article Nail! Keep up the good work!
Thanks Nial for your help I used several indicator, Macd, Stochastic, Sar, etc, etc, and lost a lot of money, I follow your instruction, now I do not use any indicator, only price action, my chart is clean, and I got back all the money and much more,
God bless you, Nial
This is something that I have also recently been striving for in my life. Great article Nial. Thanks!
Nial,you don’t know what you have achieved in my life through this article! My anxieties have disapppeared, fears have vanished, worries no longer in my mind as my perception about life is changing. I thank GOD and also appreciate you for your words that have come to me at the right time.
This is a beautiful Post!
I am a minimalist.
it’s great article bro’s… i hope all muslim traders read ur article… tq for the best article from u bro’s…
I believe that one day I will be trading only price action based trading with minimalist approach regarding the indicators and other stuff.This journey has forced me and driven to simply trade daily charts and at the most four hourly charts.I truly appreciate articles from you which provide strength as well as direction towards right approach to trading where there is nothing other than a simple system has chance to succeed. Great article.
Great artical as always Nial. Compleatly agree, I found the most stress free years of my life so far were spent when I was living out my backpack travelling and working around the world for 2 years- liberating!
Keep up these inspiring articals.
I chuckled as I read the article because I kept thinking of those I know who hoard untold amounts of what I consider to be nothing but trinkets of junk! But then ask me if I can toss a piece of timber out from my beloved garage workshop and I’ll probably give you a questionable look that silently asks if you are…slightly insane?
I guess one mans junk is truly another mans treasure. But truth be told, Im not a hoarder. I regularly purge each year because I live by the rule – if you have not used it in a year, get rid of it!…Except of course for that beloved piece of timber.
i m fan of your blog…..
i m regularly follow your post…..
every time you give me very useful information thats help me alot……
i think you are right……..
Well done Nial, I think what your teaching here is life and how it relates to trading. Trading is just like life. The ups and downs. The wins and losses.the black and white. Also the complicated and uncomplicated. Trading has given me more then money. Its changed my life spiritually. Trading teaches me about life and takes me on journeys that I will never forget. Thanks Nail your more then a person who teaches trading.
A very wise article Nial. Recently I too have noticed that the pursuit of more and more tends to make people nuts, whereas, as you say, the minimalist tend to be a lot happier and more importantly, free!
I’ve also noticed that you don’t need as much money either when you are a minimalist which seems to eradicate a lot of the emotion from trading.
I’m glad you have not been to my gaff mate,’cause I am Mr clutter.This article is a great reminder I must streamline my operation,thanx 4 the truth in print Nial !!!!!!
Great Article…. Nial…
Are you gonna follow OSHO’s Teaching… LOl :D
You have cleared my mind, thanks for everything.
Great post as usual. But this one really hit me hard.
Consumerism and materialism is somewhat one of my purpose to trade.
I want to be rich. I want to buy things. It makes me feel good.
Thank you for reminding me that it is not that important anyway.
Everything I have learnt i took it from this website. And the minimalist approach to trading and life is the best way.
Great article Nial. good luck on the road.
Excelente artigo, quanto menos melhor
Nail, you are absolutely right. Your minimalism theory agrees with an ancient book of phillipian 1: 10 that say “that you may make sure of the more important things,+ so that YOU may be flawless+ and not be stumbling ……” simplicity brings out the best in every human who wants to get achieve and be happy. Thanks have a great day
A very inspiring article, Nial. Words of wisdom. All the extra things we have and don’t need actually belong to someone else – the principle of universal destination of goods. As one of the people who posted earl
A very inspiring article, Nial. Words of wisdom. All the extra things we have and don’t need actually belong to someone else – the principle of universal destination of goods. As one of the people who posted earlier said, remember to give out your extras to someone who needs them
Fully agree with Emeka Madusha.
Beautiful Article, Nial
Super article, Nial…
So many great comments have already covered what I could say or add…
Appreciate the effort you give to teaching all who would take notice of these timely lessons…
Enjoy the day…
we’re born by bringing nothing,
we live now want everything, but..
we gonna live this wonderful by bringing only simple stuff we have (?)
From forex trading knowledge to essential wisdom of life. You are the MAN Nial!! Go bless..
A very inspiring article, Nial. Words of wisdom. All the extra things we have and don’t need actually belong to someone else – the principle of universal destination of goods. As one of the people who posted earlier said, remember to give out your extras to someone who needs them. Thank you.
Thanks Nial always a great read !
The msg here is: minimize your life and maximize your profits. Buy gold and silver bullion!
your spiritual evolution is incredible,
Muchas gracias from Colombia (south América)
I used to live in luxury family house in Tokyo for 6 years. Large garden & parking for 6 cars was part of the house. I was constantly doing something at home in a effort to clean, improve, make living in my luxury home more comfortable. Looking back, I was a slave to that house. I am currently renting a condo in Tokyo, reception will handle dry cleaning and condo is managed and maintained so well I don’t do anything except occasionally cleaning my own unit. It is amazing to notice how free I feel now by not having to cater to the needs of my previous residence. I used to drive a car which required lot’s of attention too. I bought brand new hybrid car and am constantly amazed at how much money on gas and maintenance and more importantly my own time was I able to reclaim. Getting out of debt is a subject that makes me angry as I can’t stand people who live in debt…I was never in debt. Last but not least, money does buy happiness. At least to a certain degree… Happiness is not owning a big house or driving an expensive car. Happiness is not having to answer to boss or not having to go to work(Working and creating values is important and having money to quit your job today and do something more fulfilling is equally important)Happiness is having security that if you get sick today, you may fly to best clinic in the world for treatment or security that I can send my kids to best collage. Money os important more more than that your time is important. More time and money you save and invest the richer you become. Keeping with the Joneses is a trap! Joneses are in debt up to their eyeballs.
Nail,this is a new religion.Maximalism is the bane of the most of the political leaders especially in the developing world.They steal millions of dollars from the public fund just for themselves.I wish our leaders take a leaf from this philosophy of minimalism and there will not be a poor man in any country.PERMITTED I will want to publish this article in a Nigerian journal.This is a great philosophy NIAL and tnx.
Great article. I agree with you 100% on this. I also went through what you did. After months of trials and error I just go back to basic and trade with price action, and it just worked. It is great to know there are other traders that believe in this rather than fancy system and indicators. Well, I am one man show and the people I teach this kind of stuff do not believe in me and believe more on the indicators to show them when to buy/sell.
Seriously guys, trading by price action makes a lot more sense than trading by indicator.
The simple the better :)
Thanks Nial. I will share this article with my friends :)
Thanks Nails, just how I work , one note book, live in Phitsanulok Thailand or Perth West Australia, my only other possession is the car, the only thing different is possibly you have more wins, than me. Great write up, enjoyed the read.
you are good master nail
Great article Nial and best of luck with your move. It takes a strong and mature mind to realise that the things around you (possessions) start to own you and not the other way around.
I personally find it is a yo-yo battle with the minimalist mindset and lifestyle. Hopefully one day I will have the determination to stick with it.
As others have also posted, Joe Dominguez’ book is a great start for seeking an approach on minimalism.
It is the real fact that we have a lto of unneeded things in our daily life
so to be organized you have to have a useful things as we like to be a PRO-treader;
Thanks for your weekly great ideas
Hi Nial,always very good advices thanks coach,Pierre.
your plan is fantastic, actually I started trading to achieve freedom to travel for a while myself!
Enjoy your new life and all the benefits to it.
If you are around Milan in Italy, just step by and I’d be glad to meet you.
Thanks Nial. Each day I practice yoga and have now for 17 years which brings both the mind body and the breath here now into the present (today being a gift). Day one of my practice I asked my yoga teacher how much should I do? and her answer was ‘to feel you like you are doing too much but not enough”. This balance has been reflected into my trading to keep my process simple using price action. Todays lesson is confirmation with continuing to maintain a minimal approach through discipline. As I always like to say ” discipline equals freedom”.
Great article,Iam picking interest in forex trading. I will like to learn more and become expert. Thank.
What a sage!In my own version of it, I am not going to forget giving away some of those clutter to people who may need them.
Again, what a sage!
Hi Im the same I hate everything cluttered. cheers
Very much effective lesson it is for sure, now i think, you trading course is developing my personal life also… thanks.
Great article. I fully agree. Thank you.
Very nice Nial, this article just made clear what I really need in my life and trading. All da best.
One positive result of this depression is it has retrained many into doing with less and discovering that instead of feeling deprived, one feels calmer and happier.
Thanks for another great article
Great philosophy! Taking care of all the “things” in our lives takes so much time away from what is truly meaningful.
I agree with everything you said.
All the best with your plans to be nomadic.
It’s very Australian perhaps to do with the Aborigines.
I love your trading / life philospohy and I am aligned.
Dear Nial, this article is excellent and shows how much you are moving forward. Therefore it deserves all the nice comments here.
I wish you really well in your efforts and thank you for your changes. We are all connected and you are helping all of us.
I consider trading as my ultimate path to personal improvement and money is just a pleasant side-effect.
Pavel, Czech Republic.
You mentioned that it was an “almost” religious thing for you, and you couldn’t be more spot-on. Maybe not ‘religious’ in the traditional sense, but certainly very spiritual, very supportive of yourself and your family.
Recently, I closed a relationship and moved across country. In the process, I “released” everything that wasn’t important to me, that did not serve me in a direct, daily experience. In the end, everything I owned, needed and wanted easily fit into a five-by-eight foot do-it-yourself moving trailer (with room to spare!). Now, I’m just a single guy, so that probably sounds extreme to some, but let me tell you, the feeling of NOT having all that “stuff” in my life is wonderful, liberating, de-stressing to the max!
Thanks for the excellent article on connecting the same de-cluttering ideas to one’s trading habits. As someone who tried (and failed) to use a lot of the old-school indicators and charts for trading in the past, I arrived at your trading school ready for some new ideas, and I’ve been very happy with what I’m seeing and learning.
Keep up the great work!
(On the road in Florida, USA)
Good article which clearly differentiates between need and greed.
Keep posting this kind of article.
Less is often better. I think the same. Good reflection to change for a better trade and life. I like what you write. Thanks.
Luxury anxiety as it is called here in Sweden.
Except the part about ditching indicators. Couldn’t do without them.
Great article Nial. I’d add one more thing – listen to minimalist music by the likes of Brian Eno ( check out his albums on Youtube – Music for Airports, Neroli, Thursday Afternoon). I’ve been finding this stuff calms me down and allows me to focus clearly when analyzing my trades.
Nial, you’re spot on mate with this clutter thing. I’m married and kids have grown up, but still on the payroll, so there’s clutter everywhere. I yearn for a clean-out, however, others around me like to hoard. It’s a feeling of being trapped, but I know like you that there’s a feeling of complete freedom of having very little.
I’ll keep striving and having minor successes in this area, but thanks for the motivation and the vision. Cheers !
I wont say thanks Nial for this article, I am thinking about nomadic style of living for few months too and it is one of the main motivations that pushes me forward in this nice bussines.
I am just glad that he (“you” if you read this :D ) has similiar approach about these things :)
However, I should thank him for everything else that he teached me via these great free articles and in his members section.
So Nial, enjoy your travels now :D ,
i hate reading but i belive what you say, waste not want not.
Excellent article, I love the philosophy, Thank you for sharing it with us.
After I lost my business, I sold my home and all my nonessential possessions. I now rent a room from a friend and I’ve never been happier in my life. Nial, you speak wonderful words of wisdom.
A big news! If you decide to travel to Vietnam,especially in Hanoi, I will become your free tour guide. Thanks for your honest article.
Thanks for the encouragement for more introspection. I needed it. Good luck with your minimalist endeavor.
Great article, thanks Niall
Can only simply say thank you Nial for sharing!
book name is ZHUAN FALUN,
the book called <> dont know why its not displayed there.
Hi Nial, good article, yeah when we are born we are naked and when we die we are naked,we have worries and desires then we have headachs….its not caused by the physical stuff its self but by the attachemnt in our heart,stripping down the attachemnts then we found the real freedom…..recommend a book called <> for you to read if you like, i have read more cultivation books than trading books, but definitly that book is a book really about cultivating to a higher level.
Good article Niall and something I did a few years ago. I also got rid of junk, sold up, got myself just a simple laptop for trading, and now I live in Thailand.
It’s something I realised and can be a real goal for anyone trading – once you know how to make money from the markets, you need a PC/laptop/smart phone, internet connection, sort out your banking/finance infrastructure, and then you can live anywhere. My goal was to live a simpler life somewhere warm where I could wear t-shirts and shorts every day, not worry about the desk job, office politics, etc.
I can tell you, it’s something REALLY worth aiming for. Plus, living in SE Asia means you don’t need to make $1,000 per day to pay the bills when you can take the family out to eat for $10, buy a new scooter for $1,300, or sit out on yet another balmy evening drinking a cold one for $1. I don’t miss paying the Aussie rent, mortgage, utility and food bills. Plus it’s only 9.5 hours away. Hell, anywhere is at most only a days flight away!
For those interested, if you make $70 to $100 a day on average living here, you can pay for everything and save some. I wish I’d learned about trading 20 years ago!
I am very impressed by your teaching and you have develop a very deep person at such a young age.I guess this kind of teaching is very rare and I am very happy to have found your website, sadly a bit late. I wished I have found your site much earlier. You have change my trading lifestyle, renew my objective in life. Thank you. Btw, is that your office picture up there and your dog?
Nail, thanks for this amazing article.
You are to be commended for what you did. Happiness in enjoying life to the fullest and spending more time with your family is worth more than a basement full of gold.
I’ve been to Australia several times while I was employed by Motorola and had responsibility for the operation there. I thoroughly loved the country, the people and their common sense approach to properly balancing a full life and success to boot.
Best of luck,
Great article again!=)
Absolutely correct! I have started to de-clutter my life and charts as well, interesting that this article link arrived in my inbox at around the same time.
Simpler(bare bones) charts on higher TF’s holds all the clues to future price action.
Welcome to my world too… been there and doing it for some time
AND LOVING IT!!
Well said, Nial! Thanks for sharing this article. You’ve hit the nail on the head for sure about both life and trading. Wishing you health and happiness in your new lifestyle.
Mr. Nial Fuller, congratulations.
This is a fantastic article.
Good luck to your “new life”!
Everything said in this article is true. I have been practicing this lifes style and many things have changed positively in my life. Great for you and I hope than other people get this proposal.
Tha best for you
Perfect!!! Thank you.
Excellent Nial! I have been considering selling my house so I can focus more on student debt. A house is just a money monster that eats all my money on repairs, taxes,etc. Nice to hear that someone else has similar experience. This ties in well with Forex. Keep sharing experiences and strategies.
I supposed the majority of successful traders go through the vases you mentioned in your article until you really on top of your game, knowing you have “earned” all the T SHIRTS so to speak . A humble and love approach in life is the key for the soul to a better understanding why are we on this earth – and that is not only to make money but to seek the will of GOD in ours and for our loved ones , and in so doing also impact on others lives.
Be blessed and keep on impacting with your love and dedication ,Nial , igniting & provoking the good that ought to bear fruit in all your fellow traders.
Whilst journeying the world , may you trade for the “everlasting” as well.
Continue writing good articles nial, it’s getting better
“Hoarders” is one of the scariest shows on TV. These people don’t know they are crazy, thus, if one starts overcollecting stuff you could become one of these crazy people and not know it. Everyone should watch. Change your mindset for sure. I’ve collected stuff over many years and I have to invest my time, energy and money into caring for it. It leaves minimal time and money for other more important things. I’m starting to get it out of my life as it’s a total encumberance to have it. You are spot on with this.
An amazing lesson and approach to life and trading. My wife and I have recently embarked on the same “minimalism” lifestyle change and it is amazing the difference it makes in one’s life and mental happiness. Had a huge laugh at “the Jones’ are boring”…..exactly!
Thanks for the great trading and life “lesson” Nial.
Hi Nial. So very true, everything you wrote here. You are a wise man and a very talented writer, and you always give such good advice and inspiration. I love to read your articles. Thank you so much for sending them to my mailbox. Enjoy the coming weekend.
Many regards from Ingeborg in Denmark
I couldn’t agree more with your attitude here Nial, for anyone that would like a good read on this subject I would recommend ‘Your Money or Your Life’ by Joe Dominguez and Vicki Robin. It gives 9 steps to transforming your relationship with money and achieving financial independence. It will show you how to get out of debt and develop savings, re-order material priorities and resolve conflicts between values and lifestyle, just as Nial is doing with his life.
As you say a simplistic approach to trading should be a mirror of the same approach to life. I’ve spent many full days doing the emotional “should I, shouldn’t I” approach to trading and it just didn’t work.
In the end I chose one currency and researched/backtested a definitive ‘black and white’ strategy that had worked to present day.
It’s pretty simple – I have 4 of the most recognised indicators available that I’ve tailored to suit the (modest but consistent) results I want, which, in turn, suits an initially modest income strategy. There’s no hesitancy – if all four indicators reach (in unison) their own respective entry points (definite figures) then I’m in – if they don’t I’m not. The positive results so far have borne out all the research and backtesting so the hard work’s already been done! It’s also stopped me ‘wondering’ if I was right to take the trade or not, because I have faith in all the previous results. I record all my trades so I can tell straight away if there are any ‘blips’ that fly in the face of previous results and if it does start to go wrong the strategy will tell me in plenty of time before any serious financial damage is done.
Anyway, thanks again Nial!
I am happy that more and more people is thinking like that nowadays
I find very few trader/coach who is having such a great insight about trading and life. The mantra , as you rightly said, is clarity and conviction in mind which can only come following what you mentioned (De-cluttering) very impressively.
Awesome post Nial! Materialism is no source of happiness.. Good luck traveling your new path, I hope you and your family have some great adventures.
Nial, This post has answered a TON of questions for me which were holding me back and I didn’t even know it, absolutely BRILLIANT.
Awesome article, love it.
I did the similar thing 5 years ago and have not looked back, love my lifestyle living all over the East coast of Australia and now thinking of soon perpetually travelling the world with this lifestyle, “JUST DO IT”
Fantastic, all the best.
PS I did not think there were so many people out there thinking the same, just great to hear
All the best
How can anyone as young as Nial have such profound thoughts. I so look forward to reading his articles each week.
very good, i like!
agree with you nial..
Dear Nial ! You taught me how to live a beautiful life, if we follow this in our all activities, nothing is needed more, even a poor becomes a disciplined person.
I’ve always understood what your about and now I know why. Everything in my life I try to keep to a minimum, keeping that materialistic and idealogical clutter out of your mind is vital to peace of mind. I had a serious car accident on Monday, car was written of from getting T-Boned and feel that it happened for a reason. Get the car out of your life, keep away from the roads that demand so much mental and emotional energy. Thanks so much for an amazing piece of insight …. By the way all occupants walked away without a scratch.
Thank you Nial for sharing your private information. As i believe money don’t always give you happiness it give you choice in life.
This is what i have practiced quite well in life. and i hope now i should transfer the same to trading. Price action is what is happening now, and that is all one needs to learn. anything else is unnecessary past.
Thank you Nail. I have tried this in several aspects of my life and business operations. It works perfectly. I enjoy your strategies and philosophies especially; KEEP IT SIMPLE STUPID.
I just want you to know that one of my greatest goal is my family get to see you face to face. Your life has changed my life. Let me explain just a bit:
I have been trading for 4 years now; with lots of ups and downs(with the downs more than the ups!); but meeting you has now given me the freedom to study Veterinary Medicine in the University of Maiduguri,Nigeria. Now, here is why: I no longer stay glued to my PC all day and no longer spending much in my trading environment(buying expensive laptops,tables, accessories etc), that eventually get me into dept. In essence, I now realise the ample time i have because of your lessons and can now move my life forward.
You are simply awesome.
Another superb article Nial.
I adopt this way of thinking since I started to work.. and I can ensure that financial issues was never a concern for me! Great Article Nial!
IT IS SAID THAT WEALTH GIVES YOU THE FREEDOM NOT TO CLUTTER YOUR LIFE. AND THATS REAL FREEDOM IN MY BOOK
nice and simple
but difficult to applies for most of us
easier on trading I think
nice article anyway
Hi Nial I have done the same as you sold my big house & lots of bits. I have removed all my multply screens. I only use support & ressistance lines nothing else.
Nial I think that you have made a great move.
Good Article for improvement in trading !
Brilliant or as most of us Aussies say “Bloody ripper mate” the problem isn’t the things we have it’s the mental conditioning we have been through that tell’s us we won’t be happy unless we have them , which in my simple view is a load of BS. If we can’t be happy as a person in general , happy to be alive , breathing , happy with a loving family then why do we think that shiny new car , boat , house or whatever is going to make us so – I live in a big house , have 2 cars , a dog , a cat and 3 wonderful children and almost forgot a beautiful new grandson who is healthy and happy. As far as I’m concerned they can take the house , the cars and all the debts I have because of them , just leave me with good Health , my children , my dog , my cat and my grandson and I’d be as happy as a pig in mud. If you want to know what real happiness is just watch children playing with nothing more than their imagination.
Good one Nial keep up the good work and may God bless you for having the brilliant mind that you have.
Thank you Nial. Brilliant article.
As a professional Project Manager and aspiring forex trader with family and clutter this is what I want from life. There is too much unnecessary stuff that diffuses my focus from life and trading.
someone said 2000 years ago….
Not by bread alone does man live
Agreed 100%, when greed takes over you end up loosing more then what you gain.
As everytime you trade you end up thinking about the things you can buy from that trade etc.
dear nial is a bit of time I follow you, and with your teachings and suggestions my way to trade the markets has become easy and fun and profitable. thanks
p.s. I hope to meet you when I come to australia
Hi Nial, Interesting to read your very inspiring article.It shows your maturity well beyond your young age.I have always liked your style of trading but i wonder how you fit in big boys stop hunting practices during London market opening times.Do you keep wide stops or do you not trade atall as it is pretty chotic during LONDON opening for beginners like me? Do you factor in stop hunting avoiding techniqes in your course or do you stay away during first hour?.Your thoughts and inputs please time permitting.Many thanks
Nial, really good article and you’ll never belief this but I have done exactly this with my charts this week…well I haven’t done the house things but clutter has such a negative effort on ones mind….
Thanks for your continued input and learning….
I’ll meet you at the top!
A beautiful article Nial. Its something that I’ve done, to a lesser degree (ie kept the house as have children). I grow vegetables, keep hens and live in a very de-cluttered, but homely home. My books have been minimised, I only keep a few clothes, just replacing as and when. Since i’ve adopted this ‘cleaner’ way of living, the kiddies have followed as well. It’s peaceful and makes trading harmonious. I have just 1 moving average on my chart and nothing else. Its been illuminating. And my trading has come on in ways i never thought possible a mere 6 months ago.
I wish you well.
one of the ” BEST ARTICLE ” you have written.. and truly a SPIRITUAL one .. i too wish i had a profound knowledge as this ,when i was young..BUT it is NEVER TOO LATE..
Good Luck Nial in your ” LIFE ” journey..
Getyourself the book from Vash Young “Fortunes for All”. He describes the game of Being vs Having , here’s a section , “People all over the world set for themselves desirable objectives and live continually in a state of self-torment when they do not obtain them. Their thoughts and efforts are so bent on the objectives that they often forget it may be necessary to make certain fundamental changes within themselves to reach the goal they have set. It is difficult to run uphill with downhill thoughts, emotions and habits. Your thoughts should be appropriate for the direction in which you want to go. Start at being a good person, and good things will be added unto you.” Thats just the tip on some of the great content he teaches, cheers
Great article, as far as I am concerned you have hit the nail on the head! I have a great price action system but I try to get involved too much and so keep on making mistakes.
What you say is so true and a confirmation of and an inspiration for the way I want to trade.
Thanks for sharing what is going on in your life that was just as inspiring as the part about trading.
Good luck with your new adventure.
wOW Nial. This is the best post you have ever written!. I just printed this. Am reading over and over again.