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Posted on August 31st, 2010
by Rapid Forex
Understanding how to trade forex online successfully is an important component to becoming wealthy through forex trading. But there are also certain things you need to know in addition to just trading profitably. Today I’m going to share you a lesson from the ultimate success bible from Napoleon Hill called “Think & Grow Rich.”
Classic Success Literature
Think & Grow Rich is probably the most popular book on becoming wealthy ever written. It was originally an idea that Andrew Carnegie had for a young writer named Napoleon Hill to interview the wealthiest people of their time and discover the secrets of their success.
But what does Think & Grow Rich have to do with Forex trading?
Alot!
The Importance of Specialized Knowledge
One of the key traits of wealthy people was that they all contained specialized knowledge. Only by knowing something that “not everybody else knows” can wealth be achieved. In the forex trading world approximately 98% of traders lose money. To be in the top 2% of profitable traders, you need to have “specialized forex knowledge.”
But specialized knowledge of forex isn’t enough, you also need the power of the mastermind…
The Mastermind Principle of Wealth Creation
Another key component of the “Think & Grow Rich” wealth creation formula is the mastermind. A mastermind is when 2 or more minds come together to produce a greater benefit than if they had worked separately.
You’ve probably heard that 2 people working together can do the work of 3 men or more working alone. This is the mastermind principle in action.
For forex trading a mastermind involves learning from a real trader. The only way to learn how to trade is to learn from a trader. This makes perfect sense. Doesn’t it?
A Burning Desire for Forex Success
I actually went out of order. This was the very first principle in “Think & Grow Rich.” Without a burning desire for success in anything, whether it be online forex trading, losing weight, or finding a romantic partner, you will only stand a meager chance of success.
By having a burning desire & committing to success in trading, you’ll ultimately guarantee your success. This won’t happen until you decide to devote yourself to achieving your goal. If you want to be a successful forex trader, I can certainly teach you how…but you’ll need to look at the charts & find the trades yourself. Nobody will do it for you…
I highly recommend that you read “Think & Grow Rich” in it’s entirety. You can buy a copy at any bookstore, it’s a classic.
If you want to learn how to trade forex successfully, watch for my announcement on the new “Forex Freedom LIVE” online forex trading course to learn from a real life professional currency trader (me), coming soon to rapidforex.com.
Posted in
Forex Trading Mindset
Posted on July 9th, 2010
by Rapid Forex
When people get excited about forex trading, they instantly get dazzled about making thousands of dollars a day trading the forex. While this is exciting, there’s another factor involved that few forex trading courses will even mention…
One word that’s critically important to your success as a forex trader…
Patience!
If you want to be at the right place at the right time, you will need a level of patience for forex trading.
Sometimes the forex moves quickly, like when I got stopped out for a 28 pip loss in less than an hour on the usd/chf a few days ago… Or yesterday when I watched a currency pair for over 24 hours with the live bootcamp members and it was like watching grass grow…
Hunting for Pips
Forex trading is a lot like hunting. You go out and look for places where the animal might go (look for a wave pattern), then you sit in the tree (watch your computer) and wait for the animal to walk into your kill zone (retrace to the 68.2% level).
You’re not guaranteed to catch or kill anything, sometimes you can sit there all day and nothing happens. Sometimes the prey falls almost within your sites, but you just can’t get a clear shot…
Drawing Lines and Waiting
A skilled forex trader will look at the charts as they are & imagine what would have to happen on a price chart for a trade to be possible.
The he/she will draw the appropriate trendlines & channel lines and wait…
The market will often not do what the trader is looking for, this is ok because the skilled forex trader will wait for the right situation to emerge before entering the trade.
The Imagination of a Trader
Here’s a tip for you to become an expert forex trader as quickly as you would like to.
When looking at charts, imagine what would have to happen for the currency pair to present a trading opportunity. You have a powerful fibonacci wave theory in the forex sailing course.
If there is a consolidation, imagine a new wave breaking out of the channel (or triangle) either up or down. If this breakout occurs, would it be compatible with the direction of the charts in other timeframes? Would one of these waves be tradeable?
If you have a trend, do the same thing. You can imagine a trend continuation, or a reversal. Which one is the opportunity that you’d be willing to trade.
Draw some lines on your charts and look for where you would enter, or where you’d stop watching and look somewhere else.
After you go through this process in your mind, watch what happens. If your ideal trading situation happens, enter the trade. If it doesn’t, look for a new trading possibility…
As a professional forex trader, I’m always watching some currency pair closely. I’ll be continuing to share this watching & waiting analysis with the live forex trading bootcamp members, as well as when I actually enter a trade.
Posted in
90 Day Forex Trading Bootcamp, Forex Trading Mindset
Posted on March 31st, 2010
by Rapid Forex
The Forex Market is one of the most lucrative ways to make money imaginable. If you can learn how to become profitable at online forex trading, you will be able to make as much money as you desire!
What Separates the Winners From the Losers?
The Painful Truth: Most people lose money at online forex trading. These are the people who don’t know what they are doing. Just because some people don’t know how to profit from forex trading doesn’t mean it can’t be done!
You Need to Be a Forex Trading Expert!
You are essentially competing with other forex traders when you’re trading the forex. The people who know what they are doing will take all of the money from those that don’t. You may have heard the statement that “the top 2% of all Americans possess 98% of the wealth in the US.” I believe the same ratio is true with forex trading.
The top 2% of Forex Traders Make 98% of the Profits!
This is no reason to get upset, it’s a tremendous opportunity for you if you can be in the top 2% of forex traders. The good news is that there are MILLIONS of IDIOTS trading forex online. Forex trading has never been more popular & now is a great time to get into it!
How do you Become a Top 2% Forex Trading Expert in 30 minutes a Day?
Here’s the Secret to mastering online forex trading from Two Super-Geniuses and a Hungarian College Physics Professor:
Albert Einstein is one of the most intellectual geniuses EVER! He stated that if someone would study anything for 10 minutes a day, they’d be an expert in a year.
Michaelangelo is one of the most creative geniuses EVER! He has famously said that if you saw how many hours he experimented & put into his art, you wouldn’t think he was a genius at all.
My Hungarian Physics Professor in college was amazingly brilliant! He came to the United States from Hungary without knowing English. He decided to study only 10 words PER WEEK. Since most people only use a few hundred words for normal conversation, he became completely fluent in 3 months!
By emulating these geniuses, we can follow a three step formula for attaining mastery at online forex trading. Remember, you don’t just want to be “average” or “good”, you want to be in the top 2% so you can make 98% of the money and become filthy rich from forex trading!
Become a Forex Trading Expert in Three Easy Steps
- Apply Einstein’s Formula to Forex Trading – to be an expert in one year you need to study something 10 minutes EVERY day. To be in the top 2%, you need to do a little extra. I recommend 30 minutes a day. The key is consistency, so don’t commit to more than you can stick to.
- Follow in Michaelangelo’s Footsteps – you’re not going to attain mastery in 5 minutes. Be prepared to spend some time to truly understand online forex trading. The rewards are tremendous, but there aren’t any free rides. You’ll need to earn it.
- Learn from my Hungarian Physics Professor – this guy was a brilliant physicist with plenty of published articles. When he came to the US he was already a phd in Physics in Hungary. He didn’t try to memorize 100+ words per week. He wanted to truly & deeply learn the 10 words. Once you get the basics of forex trading down (there aren’t that many), you’ll be able to do a lot with them.
The three step forex trading expert formula given above is really only one step:
Study Forex Trading consistently for 30 minutes a day and you’ll be a top level forex trading expert in a few months. This won’t happen at one moment in time, but you’ll transform into an expert top 2% forex trader over time (it’ll come quickly if you stay on course).
Here’s how to Put the Forex Trading Expert Formula to work to get bankable results:
Step 1: Look at live forex charts for 20 minutes a day, every day. This is a minimum. You don’t have to do much more (although you can look for longer), but you need to do this EVERY DAY (even when the forex is closed). To do this simply have your forex charts open and try to see opportunities based on what you know about forex trading.
Step 2: Learn Forex Trading Techniques for 10 minutes a day, every day. More is ok, but don’t go overboard. You can do this with your favorite online forex trading blog (hopefully it’s the rapid forex blog 
). You can also read a few pages from books or courses on forex trading. The idea is to learn new things, but to deeply integrate the knowledge, this works with step 1 above as you should be looking in the forex charts for examples of what you’re learning each day.
My Forex Trading Promise to You
I PROMISE that if you follow this ONE SIMPLE SECRET, you’ll become profitable at forex trading online.
To prove this, ask your self this question:
“How many people are willing to put this level of effort into something to be successful?”
If you really think about it, you know that few people are willing to do this.
That’s also why few people are successful
But you don’t have to be one of them…
If you make a commitment to start RIGHT NOW and do your first 30 minutes, the next 30 minutes will end up being ultimately responsible for your entire transformation into an expert Forex Trader forever (as long as you stick to it CONSISTENTLY)!
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Forex Trading Mindset
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