Why Learning To Trade Forex Will Leave You Broke!

– And for a long time I thought that the way I was taught to trade, which was by trial and error, was the wrong way to go. (soft piano music) What’s up traders, welcome
back to Phuket, in Thailand. Today I wanna share with you why I believe that learning to trade and
learning the typical way most people learn to trade,
is gonna leave you broke, and won’t give you any result. I wanna share with you a
different way you can learn, a different way you can
start to practice things, to get better results faster. And that’s gonna be against
what most people want to do and what the kind of
commonly learned thing is. But it’s gonna be helpful, so I wanna share this with you right now. There’s this common saying,
as you’ve probably heard, that knowledge is power, and I think that doesn’t really apply. I think that’s something
that people used to say back when information was really scarce, and you couldn’t really
go online and find info about something you want to learn, like you had to maybe read books, talk to people, to get knowledge. And that’s why they
say knowledge is power. But these days, knowledge is everywhere. you can learn from any
source you want, online, videos, book, podcast,
whatever you prefer. And that makes knowledge
not that different. So everyone can learn the same things at the same time, or even
at a pretty fast rate, which is pretty crazy. That means that knowledge
as itself, is no longer that valuable, which means
you’ve gotta get big results, which might be financial
freedom, freedom in general, spending time with your family, whatever, getting a big career in
trading, then that means that you have to go into a different path. And that path is called practice. So the more you practice,
the more you apply what you’ve learned, as
opposed to just learning, the faster you get ahead,
and the more results you get in life and trading and
everything else, and business. And that’s pretty important to understand. Now the reason is quite simple, when you practice
something, when you do it, when you actually put in the work, you get what we call
feedback, and feedback these days, I think is invaluable. An employee that does something but never gets feedback,
is just an employee who’s gonna do the same thing
again and again and again. But an employee that gets
feedback, someone that gets a return on what he does,
whether good or bad, is gonna know how to improve,
what to do to become better. And that’s the crucial part,
so the more you get feedback, the more you improve,
and the closer you become to becoming a master at
what you wanna master. And that’s the crucial part. See you cannot get feedback from a book, you cannot get feedback from a video, you cannot get feedback from a podcast. You can only get feedback when you actually put
in the work yourself, you try something out, you test something, which might fail, but at
least you get feedback, and that feedback is what
allows you to move forward. So that’s much more important than trying to learn and
reading books in my opinion. Then that feedback that you got from trying things out,
let’s say it didn’t work, like you try, you lost a
little bit of money, perhaps, or you just lost time on a demo account, because you didn’t trade
a lot of money yet, which is awesome. Now that gives you what
you have to learn next. So let’s say you are
really bad at something, and you get feedback,
well you know exactly what to focus on now, you
gotta know what to learn. And that’s also something
you cannot get from a book. ‘Cause a book might tell you, well, you’ve gotta learn this and this and this to become good at trading,
but then you do it, and you’re missing some parts, but you don’t know what to learn after. And you stay stuck, thinking that you didn’t do things right at first, but you just don’t
understand like a small part that you can easily get,
if you were to practice, get results, and then going to learn that next part, which you’re lacking. But if you do it, then
you can start to see what you’re missing, and
start to focus your attention on this, or bring in your coach, someone that can tell you what to work on. And we have an awesome academy for this, as a small reminder, quick plug. But that is how you do it. And maybe you can even relate to this, you’ve been to a point
where you go online, you read different blog posts, you watch different
videos, but then you start to get like, contradicting
advice of people. They all say something about the subject, but it’s all different. And then you’re stuck there about, asking yourself what you have to work on, what you have to do exactly,
what is the right answer. And that’s because it’s a fact, when trying to learn something, you will come across different strategies, different opinions, different techniques, different tactics, different
way of doing things. And only you, by applying them, and seeing which one will work for
you, can get you results. Otherwise you can’t know
who’s right and who’s wrong, and they might all be right, they just had a different
experience themselves. They tried different things
and different combinations of things that worked,
and they teach that. But if you don’t apply it
yourself and test it out, and just get feedback
first, no matter the cost, you are more likely to get results and to find out which
advice is right for you. And yeah, I really want you to be careful, because one thing I found
for myself with information, and trying to learn something,
so learning trading. A lot of people would
tell me they’d spent years trying to learn, and they are
just in the phase of learning, which is completely
bullshit in my opinion. They just want to find an excuse not to put in the work and practice. Well the biggest thing is that information and learning, and finding information, is very very addictive, you could do this for a long time and you
always wanna find more. It’s like a drug, and
most people just do that for a long time, and then they give up ’cause they find that, oh, it’s confusing, there’s too much stuff, I
cannot master everything. But if you were to just
like, take a step back, and start to apply from day one, you will be much more ahead than people that are just trying
to learn all the time, and stay in the learning phase before they even think
of applying something. Like don’t stay in the learning phase for too long, that’s a
place where you can be for a week maybe, a month, at most. But then stop it, and go do something, go apply something, go test
it out, go get results, and then come back to correct after. That’s what I’ve been doing for myself, and for a long time I thought that the way I was taught to trade, which was by trial and error,
was the wrong way to go. But now I realize the
power of not just learning, but applying things and becoming better over time, and correcting over time. So yeah, hope that makes sense, and I really want you to not be stuck, and only learning and not taking action. As a small reminder, we
have an awesome offer for the Academy that’s
starting this Saturday. If you wanna get my help, and the help of a lot of other traders which
should join before that time, we’ll be there to coach you, and you also get a bunch of bonuses that we don’t offer usually with that. So, let me link that down below as always, comment below with your thoughts, here are a few comments in the past. Really appreciate you guys, always, for leaving your comments down
below in the comment section. And I’ll catch you back
here tomorrow, ciao. (relaxing electronic music)

13 thoughts on “Why Learning To Trade Forex Will Leave You Broke!”

  1. Thanks , Great video Etienne. Totally agree with you that we need to look outside of the box if we want to succeed at FX trading

  2. Shit most of the time I was only learning but I did a few times practice a little with live account but the problem was I didn't always had time for both so most times I was just learning more then putting each Technic to work I only practice some Technic that I learned but not all wow I'm gonna start taking action as soon as possible thanks for this advice it was the most powerful so far

  3. I'm stuck that way in Elliot waves right now, getting so much different conflicting advice, thanks for the advice.

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