The Fastest Way to Successful Forex Trading

I recently got an email from a new student who sent me a month of their trading prior to joining my course. Their story is just like many others – they traded well on demo, went live trading, and lost a fair amount of their account. Now they are trying to get back their losses in the quickest way possible.

Sound familiar?

I can appreciate wanting to make gains as quickly as possible. Who wouldn’t?  He asked me what is the fastest way to successful forex trading’?

fastest way to successful forex trading 2ndskiesforex.com

Without a doubt, he had a sincere desire to trade consistently (most do). But two crucial things were missing from their plan.

These two things when done well, will lead to success in trading (and perhaps any skill) faster than hunting for that ‘magic system’ which will  make back all your losses. Without this necessary pair, what you want to accomplish (making money / trading successfully), will not happen. The results will not come.

So what are these two crucial things you need to focus on?  Process and Progress.

Although the goals (making money, trading from home, consistent profits) are what we strive for in trading, when results become the sole focus, your ability to make money trading becomes hindered.

Why?

In order to reach the level of trading profitably and consistently, you have to build the abilities and skill sets necessary to get there. It sounds obvious, almost easy when you hear it, but it is nothing of the sort. It is one of the most elusive aspects of the trading mindset which new traders fail to understand.

How do you get there?

Process First -Then Progress
This starts with focusing on the process by a) doing the steps necessary to build the skill set, which b) allows you to perform.

Do you think an architect started off by creating buildings? Or do you think they had to learn the math, geometry, and basic skills needed to build a structure?

architect focusing on process 2ndskiesforex.com

If you focus on results only, you will skip steps because your focus is not on the task at hand. It sounds counter-intuitive, but your goal in the beginning should not be to make profits. It should be to acquire the abilities (through training and practice), which allow you to perform and trade well.

Remember this next statement well, but a trader will not gain the results wanted BEFORE obtaining and building the necessary skills to reach that result. This comes after you have built those skills.

This is why so many traders fail. They focus on result, not process.

If you think focusing on the process is not important, ask yourself;

‘When getting a complex heart surgery, do you want the doctor focusing on the money he makes from the surgery, or the very complex precise cut he is about to make around your heart?’

focusing on process heart surgery 2ndskiesforex.com

Focusing on Progress
Moving on, once your focus is dedicated to the process, it’s time to track your progress (e.g. end of the trading week analysis).

In the very beginning, I have little concern for a traders profits or losses when they first come to me. My main concern is identifying what parts of the process they are missing or skipping. Then I have them refocus on that so they build the base skills needed.

For example, if a trader (you for example) has trouble keeping risk consistent, and fail to use the risk of ruin formula, you will not make money. So my first goal is to have you focus on keeping risk consistent (process). If you show improvement in this, I’ll have you track the ‘progress‘ you are making.

This latter focus gives you confidence. It communicates to your self-image and mindset you can improve, get better and grow. It self-reinforces you focusing on the process, which helps to see the progress you are making.

If you keep this focus, and don’t skip any steps – it is only a matter of time before you are making money trading.

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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  • ed

    grreat info

  • dev

    thanks for great article

    • Hello Dev,

      Glad you enjoyed the article and found it useful.

      Kind Regards,
      Chris Capre

  • Hello Ed,

    Glad you liked the article

    Kind Regards,
    Chris Capre

  • Andrew Daley

    Truer words have never been spoken. Well done Chris. Master the process and the results will come.

    • Hello Andrew,

      Thanks mate – hopefully traders take note of this.

      Kind Regards,
      Chris Capre

  • Chris P

    Chris as a psychologist and a trader, i do agree with the article fully. Due to the emotional nature of forex trading with risking what they cannot to loose, many traders will oftenly place their focus on money, but we all know where that ends up, especially for small accounts…

  • Dean Wincher

    Wow…. Another great article to the collection.

    • Glad you liked it Dean.

      Kind Regards,
      Chris Capre

  • Grien

    Can’t believe that I read this after a month, but this is one good article chris.

    • Better late than never Grien.

      Kind Regards,
      Chris Capre

  • Liz

    Thanks Chris for such a sensible and steady approach to teaching forex to your students. Laying down strong foundations first makes so much sense for taking profits later. Will be pressing into mastering the basics as I go through the course!

    • Hello Liz,

      I take pride and passion in my work with students so hopefully it comes through.

      But glad to hear you will start with the basics first.

      Kind Regards,
      Chris

  • Rangel

    Great article! I have been experiencing the same issue. I went live and I was have now only loss after a loss :( Now i want to take a step back and take my focus back to the process before going back on the live account

    Regards,
    Rangel (rori4)

    • Hello Rangel,

      Am glad you are shifting your focus towards the process. Just like the archer who wants to hit the target consistently, they have to focus on executing the technique correctly, so that they can hit the target consistently.

      So keep the focus on the process, and glad you got here.

      Kind Regards,
      Chris Capre