BenB forex

This is an opportunity to invest in yourself. Every successful trader started out as a complete beginner. Discover the core principles of trading and gain experience under the guidance of an experienced tutor.
Success doesn't come by itself. You build it.

Start learning how to trade forex with me
Location : Awka
2months- (N110,000)
Beginners - advance
WhatsApp or call 07069490829

Profitable trading is about:

1. Discipline
2. Risk management
3. Mastering your emotions

Do these and you're unstoppable.

Trading one strategy with discipline is like having a loyal partner.

Having 10 strategies without discipline is like dating multiple partners and ending up alone.

[Don’t tell anyone that you’re a trader yet]

You’re wondering:

“Why can’t I tell others that I’m a trader?”

Well, if you’re a consistently profitable trader, then go ahead.

There’s no issue with it.

If you’re not, then it’s best to keep quiet about it.

That’s because when you tell your friend that you’re a trader, the first question you’ll get is…

“Have you made money from trading?”

Your answer is probably no.

And you won’t feel good about it as you’re reminded of your losses and how incompetent you are.

The next time you meet up with your friend again, guess what’s the first question he’ll ask you?

“Have you made money from trading?”

Again, your answer is no and you’ll feel horrible about it.

Now when you meet your friend the next time, guess what’s one question he’ll ask you?

You get my point.

So to avoid this “trauma”, don’t tell anyone about your trading endeavor—not even your family.

In today's age of social media and distraction, focus is a superpower.

Focus on becoming a profitable trader.

Focus on writing the book you've always wanted.

Focus on losing your extra weight.

You don't need the holy grail, secret sauce, or luck. You just need to FOCUS.

How to reduce your fear of trading:

Don’t go all in.

Manage your risks.

Reduce your position size.

Trade with a strategy that offers an edge.

Not more than 50% of your wealth in the markets.

My 4 types of breakouts...

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1: Breakout without re-test

This type of breakout immediately moves in your direction with no drawdown. When you experience this type of breakout, the market could really move in your direction and you have no idea how far it’ll go. What you can do is, widen your targets or have a trailing stop loss to ride the move.

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2: Breakout with a re-test

This type of breakout will come back and re-test the breakout point (where previous resistance could become support). After the re-test, the price continues higher.

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3: Breakout with a hard re-test

This type of breakout will come back and re-test the breakout point. However, the re-test is deeper as it trades below support and you will likely get stopped out. What you can do is, re-enter when the price reverses above support or when it breaks above the swing high.

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4: Breakout that fails

This is a false breakout. Take the loss and move on.

And there you have it! The 4 types of breakouts

[A stop loss order will save your trading account, here’s why…]

A stop loss order is a type of order that gets you out of a trade automatically.

It means that you don’t need to stare at your charts the whole day and try to scare your pants off as the price approaches your stop loss order.

Now…

I’m not going to lie to you…

It hurts taking a loss…

Even if it’s just a losing trade.

But how would you feel when your stop loss order got hit, and the price went against you even more?

Except…

You’re not there to take the hit.

You feel relieved, right?

Not only do you free up space on your portfolio early to look for better trading opportunities.

But you also prevented a huge potential loss.

Can you see why this is important?

That’s why you can think of a stop loss order as a “risk police” that prevents you from losing more money or having unexpected losses.