Let me ask this straight. Are you part of the 5% of traders who make money regularly and consistently in the markets? If so, congratulations, you can close this page and go back to trading.
But if you are not, you are not alone. These are the statistics: of the remaining 95%, 10% do breakeven and 85% consistently lose money.
As of today an average of 22% still do not use a stop loss and, as a result, they get margin calls and lose their capital (recent source: OANDA). In Western countries new and intermediate traders lose, in average, between $2,000 and $6,000 USD in 3 to 6 months.
So, let me ask you: what are you doing differently or what you plan to do differently to not be or become statistics?
If you want to be part of the elite 5%, you must start doing things differently!
Start looking at the market in a different way. In Modern Markets, dominated by algorithmic trading (in some cases to up to 80% of the volume), do you think that traditional Technical Analysis can give you an edge?
It does not!
Join my free Webinar next Monday to see how Fibonacci can be used to frame price structure and for “price discovery”, thanks to the existence of Program Trading.
The details are below…
… If you are interested but you cannot attend register anyway to get the recording of the webinar.
FXStreet.com Upcoming Webinar – May 19, 14GMT
The webinar will focus on how I use Fibonacci retraces versus the (ineffective, in my opinion) use made in traditional Technical Analysis. Find below more information about the Webinar:
Title: “Traditional and new uses of Fibonacci in Modern Markets”
Summary: Fibonacci is widely used in trading to model retracing price action where low-risk and high RR trades can be located. We review ways Fibonacci retraces are traditionally used and then compare those to a more effective method that helps framing price action. Program and algos Trading offer the edge to identify Fibonacci levels that enable ‘price discovery’, in addition to effective and complete trading plans.