The chance of being successful in trading is extremely small and limited.
It is a sad truth that losers outnumber winners, significantly, whether the trader is a professional nor a newbie. The market does not differentiate this and will take anyone out easily in a blink. So, most traders fail.
Success is elusive, in any field, whether you are learning to become a dancer, a heart surgeon or an art painter, it takes an awful amount of skill and practice to master it.
Yet, in a 2014 Princeton University study, deliberate practice accumulated over time (where practice makes perfect), does not seem to even play a huge role in accounting for individual differences in skill or performance. So mastery is more than a matter of practice. New studies are being conducted to understand “what else matters”.
Until then, the statistics doesn't favor traders well. As 90% of traders fail, we can assume 90% of chart analysis we read, or 90% of webinars we attend for market tips, and 90% of EA (expert advisors) we install, can all fail, and we need to have this figure in our mind right away if are considering to take in and apply them.
Remember, it takes a tremendous amount of rock to yield just few specks of gold.
How can you from the barrage of trading data and information able to sieve through to find the best trading nuggets? Or, how can you able to net it down to good advice quickly?
The answer can be simple. Look at the numbers.
In the United States and Canada, used car buyers can request for a full vehicle history report to see if the specific car they are getting has previous accidents, vehicle recall or problem history. We can do this in trading too.
The odds are against you, for you to win in trading. To improve your chance of becoming successful in trading, why not insist the product, service or course offered for trading, also comes with a good verified trade history?
Myfxbook, FXStat and FXBlue are services that publishes trading statement track record and analysis of traders, trading strategies and portfolio. Technology is out there to calculate performance metrics and show in simple and easy to read charts and tables readily.
Without having a track record is like buying a product without a warranty or money back guarantee.
Walk away from anyone or any business if they are not forthcoming to produce a report for their offer. Testimonials are not as reliable anymore and it cannot replace a track record.
Be wary of hyped up declaration like "How I made $100,000 with $100 in 2 months". Just, show us your verified record!
By signing up for a quality verified product or service, you can have a higher success rate of using it to your advantage.
They say past performance is not indicative of future result, but I say, having no past record is even dangerous.
Choosing a quality product or service based on verified track record, you, as a trader a has much better chance of being a better trader, simply by using a more reliable or certified tools or products in your trading venture. And eventually your trading becomes more fluid and profitable thus making it easier for you to join the elite group of winning traders many aspires to be.
Make this decision today.
Genesis Asset Monitor
Copy trade system at Signalstart
The key advantage of copy service is not having to spend countless hours each day to find trades and manage them.
This forex strategy has already recorded over 200% returns in 2017. It is again projected to repeat this performance in 2018!
Also, you have a top trader and fund manager, Ramesh, who has a vested interest in your success too, since he has his funds invested in his Genesis system. There is no need to purchase any expensive trading software or attend a seminar to learn about new strategies which usually would not come with any track record of its success.
Track record is paramount. Genesis Asset Monitor has a solid record. When we purchase a new car, we do ask about its quality of build and performance. Then, why in trading, you have to trust or believe a software or system without any verified proof? Genesis copy system is changing that.
About the author
Ramesh is the author of 3 trading and strategy building books “Trade Smart with 10/20/30 Rule™” , Making Big on CAD/CHF Forecast in 2018, and “Trade Forex with Confidence” which are available on Amazon. He created 10/20/30 Rule™ for traders to build and test their next money making trading strategy fast.