We’ve made the School of Pipsology as simple and enjoyable as possible to help you learn and comprehend the fundamental tools and best practices used by forex traders around the world, but remember that a tool and technique are only as good as the person who uses it.
The brush alone does not transform a painting into a magnificent masterpiece.
A work of art is created by a painter’s vision and deft touch.
A football does not get to the end zone by itself.
It is the quarterback’s ability to read a defense, position his players correctly, and deliver the ball to the correct location at the correct time.
It is not the “ridiculously awesome” indicator, the Cowabunga technique, or the “super duper” forex trading plan that puts you in the black at the end of the year.
It is your ability to understand the market, execute the appropriate strategy for the situation, and continually use good risk management strategies that will ideally result in more lucrative wins than losses in the long run.
Forex trading, like art, sports, or any other performance effort, is a multifaceted skill. You will not be successful if you only use the tools.
The only way to achieve success is to devote yourself to education, apply what you learn, and constantly evaluate your performance.
The process of learning and careful practice should be your primary emphasis at first, not money.
Continuing with the basketball analogy, if you wanted to play in the NBA, would you be able to achieve the level of performance you want by merely playing games?
Or would you improve faster by focusing on physical training and practicing other skills (jump shot, dribbling, footwork, passing, etc.) in addition to playing games?
Isn’t it more likely the latter?
Do you believe you’d be able to score a lot of points or win games if you went directly to the NBA without any training?
Nope. We didn’t believe so.
Learn about the market. Learn about forex trading strategies and high-probability setups/systems.
Learn how to manage risk with proper position sizing and stop losses to limit risk and maximize reward.
Learn how to put it all together in DEMO.
Over time, this process will lead you to a forex trading method or system that works for YOU and that’s when your winning trades begin to outweigh your losing trades.