2nd Skies Trading

What You Need to Do to Make Money Trading (Part 1)

Happy New Year of the Snake!

NOTE: For this new year, I’ll be writing a blog post and article every day of the trading week to launch the Chinese/Tibetan New Year off with verve.
Today’s article is about what you need to do to make money trading (consistently). Did you know about 35% of all retail participants make money trading? This is true, but what you need to know is in the details, that ~half of them (17.5%) make money on back to back quarters, and ~half of them (7.5%) make money on multiple back to back quarters.
This should communicate to you consistency is hard to achieve in this market, however it can be done. But you have to do some key things to make money consistently. In reality, there are many things you have to do, but these two things are critical to make money trading consistently.
So what are these two things?
I can sum them up into two words: Getting Comfortable.
Yep, that’s right – getting comfortable.
What this implies is really twofold;
1) Getting Comfortable with Uncertainty
2) Getting Comfortable with Yourself
I’ll briefly talk about the first one today, and tomorrow dive into the second.  But i’ll begin with why the first one haunts beginning traders.
getting comfortable with uncertainty in trading 2ndskiesforex.com
Getting Comfortable with Uncertainty
When you look back on a chart, everything seems so clear. You can see where your price action systems made winning trades. You can see why that key support and resistance levels held, why it was a great time to get in, why the trend was going to continue, or reverse. It’s all so clear…after the fact, and it always will be.
Because right side of the chart represents uncertainty, while the left cannot be altered. Our brains are so hard wired to look for structure/patterns/order, that any chaos, lack of structure/solid ground is unnerving for us. The reality is, we are used to setting up our lives for predictability.
We often look for jobs that have the same schedule, the same pay, the same rules – all predictable for us to plan and live our lives.
Trading forex professionally is just the opposite and requires us to re-wire our neural programming.
It guarantees no return, no fixed salary, no predictability.  It is a constant sea of uncertainty we are swimming in. The only thing that allows you to make profit, is you learning to make consistently good decisions (being disciplined, following your system, managing the trade well).  But to do this, you need training, practice, and to get comfortable with not knowing what is next.
Ever Flowing River
The money is there to be made, and you sense this…you sense the potential. You just have to learn how to make it. But first, you have to get comfortable with uncertainty.
Much of developing a successful trader mindset is getting comfortable standing in the ever flowing river of uncertainty. It is standing at the precipice on the waterfall into the next moment. This river, or waterfall, is often referred to as the ‘right edge of the chart‘.  But in reality, it is the absolute potential of the next moment.
getting comfortable with uncertainty chris capre 2ndskiesforex.com
Most of The Time
For most of the time you will be trading and sitting in front of the charts, there will be less clarity, and more uncertainty.
If you get anxious, feel pressured, upset, or worried not knowing whether you will make money on your current trade, then you will likely make a bad decision. These often lead to losses as you probably have experienced already.
But if you can get comfortable with this uncertainty, and comfortable with losses (which are inevitable), then you will find yourself making good decisions more often than not.
Good decisions lead to better trades. And when you start doing this consistently, the money will come. The destination will always take care of itself, but the process from here to there is what you can influence.
Ask yourself which end of the statistic of profitable traders you want to be on, then ask yourself what you are willing to do to get there.
Kind Regards,
Chris Capre

9 thoughts on “What You Need to Do to Make Money Trading (Part 1)”

  1. Great Article I have traded commodities for years but have always wanted to trade Forex, I am glad I found your Website. You’re the man Chris and I cannot wait till I join your course soon!

    1. Hello Paul,
      thanks for the positive comments on the site and content – looking forward to working with you on the course soon.
      Kind Regards,
      Chris Capre

  2. Hello Chris, Great article i agree with everything you said; when i first started in forex trading, i would have one great day. And the rest where bad. and one day i came across your course Price action i studied it until i knew how to read the price action well. And things started to look up since then i have added your other courses to my trader’s tool box,things are becoming more comfortable and not so uncertain anymore as they where in the past. thanks again Kind Regards Ismael Lozada

    1. Hello Ismael,
      Yes, your development as a trader is definitely coming along, especially in some of the charts/trade setups you post, so keep up the good work. The tools to trade successfully and understand the market are there, just learn them inside and out.
      Kind Regards,
      Chris Capre

  3. Hi Chris, another great article, thanks for sharing.
    Chris, I think you have a very good understanding of price sentiments and why price moves when it does.
    I have a question:
    – when price is moving up, how can one tell if it’s the buyers moving price up or is there an absence of sellers (and the opposite for when price is moving down. Can one tell the difference?
    – I once heard that when price is moving up it is looking for sellers and when moving down it is looking for buyers. Thoughts?
    I am hoping you could comment on both points above. If you have already written on these subject please send the link, thanks a lot!

  4. ikechukwu from nigeria

    great article chris, pls i’m intrested in getting your dvd. I am from nigeria thanks.

    1. Hello Ikechukwu,
      Glad you liked the article. To get the dvd, you will need to order that from fxstreet directly as I do not produce it or sell it.
      Kind Regards,
      Chris Capre

  5. For me its def dealing with uncertainty. Even when I enter trades with a plan and I am confident I am always in the state of mind that anything can happen. (Which is the reality of the situation.)
    Anything can happen!
    So the state of my uncertainty is not based on the entry or strategy that I am using. It’s simply derived from the fact that even when I place the trade the market can do what it wants.
    Even if you have a 70% chance of a proper entry their is still a 30% chance that it can go against you.

    1. Well said Itu. Getting comfortable with uncertainty and losses allows one to really take risk, to be bold, and to make trades day in day out, while being focused on the market.
      Kind Regards,
      Chris Capre

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