The Independent Trader

When it comes to trading the markets, I find there are two types of traders. And the type of trader you are could drastically impact the amount of money you make in trading… it could even forever determine, in part, what the rest of your life looks like, how much longer you work a regular job, where you go on vacation (and how often), where you live, and even your overall health. That may sound like an exaggeration, but if you plan on supplementing or replacing your current income with Trading, then I think you’ll find those statements above are quite accurate. Here’s why…

Two Types of Traders

You’re probably well aware at this stage in your life that anything that requires almost little or no effort produces limited, temporary, or nonexistent results. And that anything that requires you to think for yourself produces lasting, ongoing, and perhaps even permanent results. This is especially true when it comes to trading the Forex and ETF markets. Over the years, I’ve observed that there are two types of “traders”. Now, I realize these are generalizations, but they illustrate two very common mindsets. Which one are you?

·         The Dependent Trader: This type of person is usually looking for the easy way out, looking to make a quick buck, or just wants to strike it rich. They think it’s possible to “follow the crowd”, blindly place trades pumped out by a system that “can’t lose”, and quit their job. The bottom line is that this type of trader is dependent on someone else for their financial success – forever, for life. Yes, The Dependent Trader can be successful with this attitude, but I believe the odds of success are low (probably around 5%).

•         The Independent Trader: This type of person wants to have as much control of their financial destiny as possible. They understand that when they know how the markets work, they’re empowered to place informed trades without having to rely on someone else. The Independent Trader knows they are maximizing their odds of success in the markets, which can make their financial and lifelong dreams come true that much more quickly. The bottom line is that this type of trader holds the keys to the kingdom, and has control of their financial future for their entire life, no matter what happens.

Which Trader Are You?

If you think you might have a little of the Dependent Trader mentality in you, that’s OK. I understand, because you are not alone. It’s only natural. But when you learn to break out of that mindset and move toward becoming an Independent Trader, everything can begin to change. That’s why one of my goals with this webinar is to help make you an Independent Trader. Will this webinar do it alone? No, of course not. However, it should get you on the “fast track” toward discovering the right way to trade the Forex and ETF markets for you.

OK, so you can tell that I believe it is far better to be an Independent Trader than a Dependent Trader. This is primarily because the Independent Trader armed with good trading methods, risk management, and discipline has a much greater likelihood of achieving consistent profitability than does the Dependent Trader who is always at the mercy of someone else’s recommendations. You Can Do It!!!

One of Our Students Shows How He Has Become An Independent Trader!

Just a quick note to wish you a Happy Holiday, a Merry Christmas, and a profitable New Year.  I've had some time to trade in the last week...from Tuesday through Monday.  This is my first go at a live account and I've kept the risk size limited to 0.5% per position for the first month. Even at such a timid risk, my return has exceeded 7%, plus another 3% in exchange rates since my account is denominated in Swiss Francs.  Just wanted you to know what a good teacher you are, and maybe, just maybe, I've become a good student. Say hi to my cyber-friends on the crew!!!
     Roy H.

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