You Will Have To Do This Trading

The Rosy Picture
I know the idea of being a professional trader will seem like a rosy picture, but the fact of the matter is you are going to face some tough times as a trader. You will have to do many things to be a successful and professional trader (or successful/professional anything for that matter), but the most crucial things you do will be the little things in the big moments of time.

Bottom line is – you will have to deal with making mistakes that cost you money, and a lot of it. You will have to deal with some really tough losses, whether they be 4, 5 or 6 figures. Yes, you can make 5, 6 or 7 figures, but that will be totally dependent upon you remaining completely focused, confident and disciplined while you are going through the good times, as well as the really tough ones.

roadmap to success forex trading 2ndskiesforex.com you will have to do this trading

In Trading…
You will have flat periods, draw-downs, losses (perhaps several in a row), but regardless of what you face mentally, emotionally, or physically, you will have to keep proper money management.

You will likely have to take a trade shortly after getting hit by the market only minutes before. You will have to deal with getting stopped out by a pip or two, only to see the market move 100+ pips towards your target. You will have to be patient and sit on your ass, even though you want to get in.

And you will have to do all of this while the market is moving in real time, while there are large profits to be made, while your emotions are working completely against you, while you are experiencing fear, or worry, or impatience, or frustration, or absolute un-clarity.

making tough decisions in real time forex trading 2ndskiesforex.com

You will have to make tough decisions in real time that may not be so evident as they unfold before you in a live trading environment.  It is very easy and completely common to miss the best setups happening in real time, that follow your rules, or your price action system, because in real time all of the toughest things about trading are present.

The Mountain
I know it may seem like you are pushing up against something larger than yourself, like you are moving a large boulder up a mountain, but you are actually pushing up against yourself – not the market. There is a powerful, self-reflective & insightful quote from Sir Edmund Hillary (1st to ever reach the summit of Mt. Everest) which goes;

“It is not the mountain that we are conquering, but ourselves”

 

This is exactly what trading is, as you are not conquering the market – but yourself.

climbing mt everest conquering the market 2ndskiesforex.com you will have to do this trading

Safe Distance & The Monday Morning Quarterback
Hindsight is a free zone, a safe distance to evaluate things as there is no emotion involved, with no live triggers to activate your unconscious or limiting beliefs. When you look at a trade after the fact, there is always clarity, and it looks like the setup was literally put on a golf tee just waiting for you tee off.

golf tee price action setup hindsight 2ndskiesforex.com you will have to do this trading

However, the reality in trading is, the clarity so available in hindsight is often barely present when trading in real time.

You wouldn’t believe how many ‘authorities‘ or ‘masters of all things price action‘ (ironic considering no peer calls them that), talk about all these great setups after the fact.

They boast how it was ‘widely discussed in their members forum’ only to find out it never was & they never traded it themselves.  This is despite the fact it was an ‘obvious’ pin bar setup, or engulfing bar setup, or some other ‘obvious‘ thing they didn’t trade, but lauded after the fact.

Anyone can be a Monday morning quarterback, but can they be a trader in real time is the question. This is why lately I have been almost weekly posting my actual setups herehere, here, here, here, and here of how I traded them in real time.

This is with all the success and mistakes made while managing that live trade, with my actual entry and exit from the brokers chart, based on all the thoughts, emotions and decisions that are involved in them.

Actual Trades
If they’ve only shown you one trade in the last year, or a few in the last few months, without actually even showing you the entry and exit from their broker chart – then run away as they are hiding from the fact they do not trade. They should also be showing you successful trades from their students which you can find here, here, here, here, and a ton more here.

live price action trade gbpjpy chris capre 2ndskiesforex.com

But make no mistake, there are many things you will have to do while trading, particularly managing, and managing two things which require practice and precision to do well.  They are;

1) Managing Risk

2) Managing Your Emotions

Hopefully you already have a set of rule based systems that you follow to get in and out of a trade, so there is little management in that part. It is the two listed above that require most of your mental/emotional/psychological management and capital.

In Summary
To repeat, you will have to endure tough times as a trader, with some tough losses, flat periods, draw-downs, making expensive mistakes.  And you will have to do this while not investing all of yourself and success / failure in the last trade.  You always have to be trading and thinking in probabilities.

Losses are inevitable, but how you deal with them is not. If you can learn to remain focused, confident and disciplined – regardless of what just happened in the last few minutes, hours or days, then you can find yourself back towards a winning trade. But more importantly, you can experience first hand a valuable lesson, which can pick you up after you fall, carry you towards winning trades, and feed your trading career for a lifetime.

Buddhist, Trader and Philanthropist

I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Eklavya

    Keep on sir.

    Nice article.

  • lola

    Thanks chris, this happened to be on the 4 hour with an engulfing bar, as soon as the stop was hit, the market plunged, I felt depressed, then slowly got back to the mindset I needed.. I need to learn to let my profits run the same way my losses do haha.. Easier said than done, maybe you could do an article on that please.

    • Hello Lola,

      First question is why would you feel depressed after losing a trade? You accept the risk at the outset, and this is part of trading. Try to shorten that cycle of being out of it, then getting back into the mindset needed. When you do this, you will rebound faster and nail the next trade, but never invest your success or failure in one trade. Its just one in hundreds of free throws you will make over time.

      In terms of letting your profits run – try this exercise;
      for the next 10 days, you will not adjust anything to the trade once its in play, you will follow all the rules, and let it either hit the stop or limit.

      Then see how the results work out and it will be highly informative for your trading.

      Kind Regards,
      Chris Capre

  • ikechukwu

    thumbs up chris, that was another great article. pls chris i want to know what are the payment options for one who lives in nigeria and want to get your price action course over here. Thanks.

    • Hello Ikechkwu,

      Glad you enjoyed the article.

      For payment options, email me via the Contact Page and I’ll give you some options to pay for the course.

      Kind Regards,
      Chris Capre

  • Tony

    While others just talk the talk Chris, you certainly can walk the walk.
    I mean one just has to look at the EUR USD commentary you posted in your weekly signals.
    Money for jam.
    Always appreciate everything you do for me and your students.

    • Am glad you like the article and is good working with you as a student as well.

      Kind Regards,
      Chris Capre

  • premnath

    Hi Chris
    Thanks for the article.
    This is a must read for all traders.
    Thanks again for being there for us
    regards
    prem

    • Hello Premnath,

      Glad you liked it – and yes, a must read.

      Kind Regards,
      Chris Capre

  • Michael

    Yep, as they say…”Just becaused you mess up doesn’t mean you give up!”

    • Well said Michael…well said.

      Kind Regards,
      Chris Capre

  • James

    I looked at all your posts of where you said they were “live” trades, but all I can see is after the fact boasting of how great such and such a set-up was. Do you ever post anything real time with concrete trade? or just like thr rest “it could do this or that” and then post up later how you made a million bucks?

    • Hello James,

      I think there is some confusion here.

      First off, I am not a trade signal service. I have paid course members who learn the same strategies I use every day, so posting my real time strategies/setups, entry, stop, limit, etc. and giving them for free to those who have not paid would be completely unfair to those who did.

      Secondly, and more importantly – I’m pretty sure my managed clients would not appreciate them paying me to trade for them, yet I’m giving away my trades in real time to those who are not paying me.

      Thirdly, they are live trades as exactly taken from the broker with the broker chart showing my actual entry and exit and how I traded it. If you were really astute, you’d study the charts inside and out to see what was in the price action prior to my taking the trade, and see what would have made it a favorable signal, what was communicating bullish or bearish, why I exited the way I did, what I missed, what I got, etc.

      I love seeing charts of winning trades from other traders, as it gives me an opportunity to see what they see, in relation to what I see, what differences there are, what I could be missing, and how I can learn from it.

      So this is one suggestion which can definitely help with your trading.

      Hope this helps.

      Kind Regards,
      Chris Capre

  • john

    Great article…keep it up Chris.

    • Thanks mate – much appreciated.

      Kind Regards,
      Chris Capre

  • Manoj

    Thanks Chris for the article. As always, I really appreciate it. I suppose you are the only one who’s conveying the right message. As you said, there’s no difference even if there’s an ‘authority or bla bla’ as its all about ‘you’ in trading and how u handle it.
    Honestly, thanks for changing my trading!
    Cheers

  • John Byrd

    In a sea of noisy useless trade punditry, a voice of truly valuable knowledge and clarity!

    • Hello John,

      Glad you are seeing the uniqueness of our trading perspective.

      Kind Regards,
      Chris Capre