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The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. I teach traders how to trade with simple yet high-probability Forex price action setups on this website. There are no guarantees and no promises of trading from the beach next month while making a million dollars a year. Be realistic and honest with yourself The first thing you need to do if you want to make a full-time living trading the markets is to simply be realistic and honest with yourself about what is possible at the current moment given the size of your trading account.
You have to learn as soon as possible that you can’t ever risk more than you are comfortable with losing per trade, and if your trading account is relatively small you have to expect to trade smaller position sizes to accomplish this. You can’t worry about getting rich quick or fret over making less money than you want. Focus on being a good trader whilst your account is small and I promise you the money will follow later. Traders who put too much emphasis on the money in the beginning of their career are the ones who end up losing and quitting. Make sure you know the basics of Forex This step is sort of a no-brainer, but I’m always surprised at how many traders email me saying they’ve lost a bunch of money and based on the comments in their email it’s apparent they don’t even have a basic education on Forex or Forex trading. The best price action setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability.