[Jared Passey's Forex Trading Blog] Wasting Time & Money Pursuing The Forex H...

[Jared Passey]

Many relatively new Forex traders spend untold hours searching for the Holy Grail of Forex strategies. They go through countless dollars both through losing trades and seminars looking for that "magic strategy" that's going to be profitable nearly every time it's used. They attend seminars, they spend time on forums, and they buy books and tapes. They do all this in pursuit of the ideal Forex strategy or system.

One would expect a trader who has made a great deal of money for himself and others would have a whole slew of special tricks of the trade. Many Forex coaches are a great source for tried and true strategies and ideas -- maybe a coach can help you in your Quest for the Forex Holy Grail -- they could provide a shortcut to finding it, right?

Wrong. I've been there, I know. I too believed that if I could just find the right magical combination, it would all be easy -- the right indicators, the right trading strategy, the right Money Management techniques. You couldn't have persuaded me otherwise -- that is, until my epiphany. But that's another story.

By focusing on finding the "perfect strategy" we blindly pass over plenty of profitable strategies, because we don't have the patience needed. Many good trading strategies are denied (by us) the opportunity to prove their effectiveness. Our newly-discovered strategy fails a couple of times in a row and we assume it's not "the One" and we continue our search. Listen closely: You must accept that what you are searching for and what you need are two very different things.

One of the top benefits of Forex coaching is that a coach can assist you in seeing that a crucial secret to Forex profits is not necessarily in the strategy or the indicator – it's within you. Your trading world-view must grow beyond it's current boundaries. You must let go of your quest for the Forex Holy Grail. Once your horizons are broadened on this (and one other) issue, you will realize that all those apparently worthless Forex grails you've been tossing in the junk pile… were all made of gold.

Forex coaching CAN help you abandon your quest and start making the real Forex profits that have eluded you thus far. See: http://www.lotsofpips.com/forex-coaching/

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Posted By Jared Passey to Jared Passey's Forex Trading Blog at 4/21/2009 12:28:00 PM