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First and foremost, discipline is the most important factor needed to become a master trader. This factor is neglected by the majority of traders, this is why 90% of traders lose in the market. Yes, you need to have a sound entry, exit and risk management strategy, but this comes with being disciplined. To progress and move into an elite level of trading, adhering to discipline in trading is the fundamental traits needed to get you to your destination. In football, you need to have the ability to pass the ball 5 yards before you can attempt to make a 20 yard pass. But by practising on making a 20 yard pass, you will begin to perfect the art with regards to the technique and power needed. This will add to your asset as a footballer and consequently improve your game. As a trader, you want to extend yourself into areas which will enhance your strategy, thus giving you the opportunity to exceed your targets. Possible areas of how a trader can improve: Decrease your Trading hours Dependent on what type of trader you are, the markets generally are more liquid during the first and last hours of trading. This will decrease your time on the trading desk, decrease the potential of getting bored waiting for a move and increase the ability to enter and exit a trade during the most active periods. Go to Seminars, watch Webinars and Read Books Utilise the time when you are not in the market to be productive. Take some time out to go to seminars related to trading while interacting and networking with other professionals. Watch webinars and read books in the comfort of your own home to increase your knowledge about the markets. Test Other Markets Once you have mastered a specific market, look into other markets, initially focusing on familiarizing yourself with the price movement of that market, to see how it acts before commencing on paper trading it, then testing or developing a new strategy. Improve your Workspace A specific area that is important towards being disciplined, is the improvement of your workspace, this includes having a clean and clear trading desk, removing all the clutter, efficient trading monitors, keyboard, hard drive, charting software that is appropriate towards your needs and a brokerage firm with low commission fess. A clear and structured trading room will assist you in becoming disciplined in other areas of your profession. Take action now and start implementing these areas in your trading.                      

One of the profitable setups that I use to take advantage of traders, especially those that enter trades with poor trade location is called the Forex Flush Trade Setup. In the video below, I go into great depth in helping traders understand the mechanics behind how this strategy works.   Leading Indicator AUD/JPY is seen as a leading barometer to understanding state of market. The current flow of the AUD/JPY gauges the risk aversion /risk appetite of investors. If traders are more optimistic about the market, with an increase flow of money into riskier investments, the AUD will strengthen against the JPY. Alternatively, if you see a decline (stronger Yen), then large funds and institutions are decreasing their risk appetite and investing in safe haven products. Flush Out The Orders Ok, so the Flush out strategy is based on the premise of identifying the general roles of the market participants. Retail traders generally trade with charts full of indicators and have a small percentage catered towards price action. By employing this strategy is primarily based on indicators and entering trades delayed times. Additionally, an enormous amount of investors will trade using breakout strategies. If the smart money is not moving in the direction of the breakout trade, you will tend to see a sharp move to new highs, followed by a flush of professionals looking to enter shorts, basically going against the inexperienced traders, consequently hunting for their stops. The pendulum swings will continue to occur until there is an agreed direction, which tends to occur consequently after important fundamental news. Trade Smart Trading in the market should be seen and conducted as an art. Using my creativity, I want to create a plan of my intentions of the painting, before I even consider placing my brush on the canvas. What I mean is plan your trade first, before you even contemplate pulling the trigger. Really thinking about the mechanics that drive the market and how you can utilize this opportunity. Words of Wisdom Remember there is no right or wrong way of trading, as long as you learn to adapt your trading with the ultimate aim of producing a profitable plan. Even at this stage, your education has started. Continue to develop, grow and blossom as a trader. Learn, learn and learn.                                          Click here to listen to the audio!                                                     

Trading in the Forex market involves alot of patience, perseverence and absolute dedication to make it long term. There is no short cut to being successful in any discipline, trading is no different. Being consistent entails fully adhering to the guidelines of your trading plan. You can do this by devising a trade log sheet. What should the Trader Log Include? A traders log should be your DNA defined template, which gives you the opportunity to document your trading results. Your log sheet should not only include the stats which you can gain access to from your broker statement, such a showing the entry/closing time, price of entry and P/L. It should also include the type of strategy you entered (if you have more than 1), the total accumulated pip profit that you made/loss. Once you have entered more than one position, you can set up the pip per trade and total of all your trades. Then the last part which is probably the most important, the evaluation. Evaluation This is one of the essential areas that is paramount to the success of your trading strategy. A large percentage of traders do not document the trades they have taken, regardless of the end result. Your evaluation should detail: Whether the trade followed your plan. If it did not then why? Your emotional feelings during the trade. Did you feel nervous, anxious, uncomfortable. Your feelings and views after the trade has been closed out. Write down the key areas, if any to improve. Then find ways to enhance your system, either by going on courses, reading books or listening to audios. Some traders may view implementing a traders log sheet in you plan as tedious or monotonous. Unfortunately traders that have this view, over a period of time, due to most probably losing money or having your account wiped out, will soon realise the importance. There is no quick overnight, plot luck way to extreme success in the markets, especially the Forex market. There will be extreme tests to show your consistency and willingness to incorporate new ways to improve what you are doing. You then should analyse and spend time at the end of every week, month, quarter and year to review your trades. If you would like the trading template that I have devised and currently use, please feel free to contact me and I would be more than happy to send this to you. To your success. Ken                                        Click here to listen to the audio!                          

With the continual interest in the Forex and financial markets, the growth and increase in the daily traded volume, will continue to expand. As a new trader or someone trying to find your way through the abundance of information, how can you identify and make the right decisions regarding the online trade training courses to take, that will assist your knowledge and effectively aid in developing a trading strategy. What to look for There is a large number of courses, run by companies and individuals, both online and offline. They cater towards all types of learning styles from, audio, pdf chart illustrations to videos. If you are a total beginner, try and focus on courses that cover the basics of the markets and information that will give you a solid platform. For the intermediate to advanced traders, to enable you to take your trading results to the next level, I would recommend to really pinpoint on the flaws of your trading startegy and search for courses that will aim to improve this area. Timespan of the course Everyone learns and masters a new concept at different speeds. In my years of trading, teaching and speaking with other professional traders, I do not know of anyone who has learnt a new skill in the space of one of two days. Personally a weekend course will obviously be benefical, but I do not feel it´s enough to elevate and transform you into a trader.  Mentoring programs for online trade training will guide you form learning the theoritical structure to implementing it practically, personal is imperative. These types of programs could last anywhere between weeks to years. It´s all dependent on your willingness to learn, availablity and yes, the cost. Cost of the Course The online trade training courses can range from free to thousands of dollars. It´s very difficult to really know the true value and whether it´s worth the price, unless you know of someone that has been on the course and benefited from it. Do some due dilligence, look to see whether there are testimonals or references from individuals that have been on the course. Even better, if the course offers a free trial or money back guarantee for a period, then this will aim give you more assurances that you can test the product out for free, before you make the decision. Test Ok, you have now made the decision to go on the course. Now you have to maximise the time and money invested in your education. The first thing is to open a trading account, as a demo first then