WELCOME TO THE START OF YOUR NEW CAREER AS A FOREX TRADER.

FX Learning The Binary Destroyer Plan Management Stategy

Our promise to you:

  1. We will not ask for any personal details until you commit to join our family of traders.
  2. We won’t pass on any details given to any third party.
  3. We respect your right to make your own decisions and will not ‘Spam’ you to join our, or any other financial organisation.
  4. We and our members will provide the support necessary for you to learn how to become a Forex Trader.

(PMS) PLAN | MANAGEMENT | STRATEGY

When investing/trading with real money a trader should always be mindful of our 3 steps to success. Following these steps will save you money and ensure that you consistently make profits.

We provide a test at the end of our course for you to gauge whether you have acquired the appropriate mind-set, knowledge and understanding and above all, the confidence before you go ‘live’ and invest for real.

Thanks to the Binary Destroyer and our training, currently 12% of our members are now full time traders. When the time comes, you will make the decision whether you trade to supplement your income or change your future and become a full time Forex Trader.

At Fx Learning we have broken trading down to three simple steps.

So let’s begin…

FX Learning The Binary Destroyer Computer Desktop

STEP ONE (understanding and planning)

Trading Forex or Binary, purchasing stocks or crypto currencies, investing in property or a business all share the same thing in common, they are an investment. We are risking our money to potentially achieve a higher return. Some of these investment mechanisms will be riskier than others, depending on their individual markets and the state of the country’s and world economy at any given time. Understanding the ‘wider picture’ is key to achieving a profit. As a Forex Trader, you are an investor and have the potential to make loss as well as a gain.

The number one reason why people don’t make a success of trading is down to one thing: EMOTION!!! Being a trader is about managing and accepting the risks.

Successful trading is all about making a calculated decision, then risking your money to make more. Most people fail because they simply can’t remain unemotional; they fall into the trap of trying to chase a profit or become greedy and push a successful trade too far. Staying analytical and conservative ensures that more profits are made than losses and that losses are kept to a minimum. It is true that trading with emotion is the quickest way to blowing a trading account and a trade driven by calculated decisions is the quickest way to making money.

It is well known that Forex Trading can be the path to financial freedom for those that can remain focussed.

PLAN

In general, the better the plan, the better the outcome and this is certainly true when Forex Trading. The setting of a goal and the plan to achieve it sets apart those that are realistic and successful from those that fail. The amount of risk accepted is proportional to the degree of impact on your financial resources. Small, low risk consistent profits over a planned time frame will impact less on your resources, both emotionally and financially than a single high risk ‘winner takes all’ trade (that is a gamble).

A plan to supplement your income is vastly different to that of the goal of becoming an independent Forex Trader, the amount of profit (and risk) needed is so much greater in the latter, so the planning process is that much more crucial. Becoming reliant on trading for your sole income requires analysis skills, experience, calmness and a certain amount of intuition. The golden rule is: don’t make a trade that you cannot comfortably afford to lose or recover from.

A good plan is one that is achievable and motivates you to carry on pushing forward if times get difficult and provides a constant reminder of how far you have come. People that make plans are more likely to achieve them.

WHY DO YOU WANT TO LEARN TO TRADE?

Grab yourself a pen and paper and write down your reason for wanting to learn how to trade. Make it clear to yourself what your goal is.

It maybe:

  • To learn another skill that I might find useful.
  • To make a little money to help pay the bills.
  • To make enough money to substantially improve my present life-style.
  • To completely change my life-style by becoming a full time trader.
  • To make £10 000.
  • Or, ………………?

Now you have your goal.

As an example, we will consider the most popular reason, which is to become a full time trader. We and our fellow members can help you with any other goal that you may have chosen.

Your first task is to arrive at an amount of money that you will need to achieve with your trading to enable you to protect your current life-style if you left your present employment.

This number will be based on monthly bills, mortgage and other essential stuff.

e.g.

Mortgage = £540

Tax = £120

Gas / Electricity = £50

Water = £30

Food = £200

Total bills = £940

Remember this number should include the essential bills and not any luxury items such as Netflix etc. If we want to make a career as a Forex Trader than we have to reset and cover the basics until our trading can support the extras (we must learn to walk before we run).

Now you have your number, it is your goal ,the next step is work out how to achieve it. That is where we come in. Here at Fx Learning we aim to teach and support our members to become successful traders.

Set your targets.

By breaking down your goal into a series of easy progressive targets you will learn quicker and remain motivated and focussed to achieve. We recommend monthly targets but we are all individual and sometimes it may take more than a month to hit your target, or it may take less. It is important that you don’t chase the next target until you are confident with the previous one and are able to remain calm and focussed, no matter what distractions. Remember we are here to help.

So your goal is to trade full time with profits of £940 plus a month, on a live account.

The targets you set yourself can be anything you choose, but we recommend you break them down into 10 steps. Be realistic and make sure you believe you can achieve them.

Example

Target 1 (Demo account)

Learn how to place a Forex / Binary Trade and how to navigate around your chosen trading platform.

Target 2 (Demo account)

Learn how to place and exit a trade and understand how to set a stop loss and take profit. Also, learn about money management and risk reward ratios.

Target 3 (Demo account)

Once you are comfortable placing a trade and understand money management. Start to learn the basics of trading: systems, procedures and terminology (language).

Target 4 (Demo account)

Learn a basic strategy based on Price Action. Follow the strategy and only move onto stage 5 when you have completed 3 winning trades in a row.

Target 5 (Demo account)

Create a trading plan (rules and guidelines) and set your time to trade. Set yourself daily targets to hit with your trading. Start getting into the routine of trading.

Target 6 (Demo account)

Learn consistency. Can I finish a session/day/ week/month in profit on demo?

Target 7 (Demo account)

Learn the power of compounding

Target 8 (Demo account)

Setup a demo account with the amount of money you plan to go live with and practise and refine.

Target 9 (Demo account)

Can you consistently make profits over a set period with that demo account? We suggest over 2/3 months.

Target 10 (Live account)

Deposit a small amount of money into a trading account and repeat the process. Only increase the trades when you are confident that you are emotionally neutral during each trade, whether the result is profit or loss. It is hitting the weekly/monthly targets that determine whether you are ready for a change of life-style.

The above targets are only suggestions to give you a general idea for what you should be doing. Your targets must be realistic and make sense to you.  By breaking down your plan into targets, the process and journey will be much easier to handle. You are able to see how far you have come and how far you need to go.

You cannot learn everything at once, it takes time and you cannot ‘wing it’. Prepare yourself well, gain confidence in what you are doing and you will be one of those that succeed. “I came, I saw, I conquered”, (Julius Caesar).

For example:

On our stage 4 example you are required to find/choose a strategy in trading and then learn the basics of how that strategy works. Focussing your time and energy on learning that strategy thoroughly and nothing else. Not moving onto the next stage until you have mastered it.  This will give you a clear vision of what can be achieved without the distraction of alternative strategies. They will come later. You should be confident in what you are doing, enjoy your trading and know you are working towards your goal.

Whenever you are unsure of what or why you are doing something, ask the family.

Now you have an understanding of trading and a plan with achievable targets and a goal let’s move onto step two.

STEP TWO (management)

Management

This means both money and time management. How much money are you prepared to invest to reach your goal and the time frame you have set yourself to achieve it.

Time Management

Time management is key when it comes to achieving your plan and it’s also the most important.

Breaking free from the box that society builds around us is a scary thing to do. To stand up and push back those walls will take you out of your comfort zone, but it can be worth it. It was Steve Jobs who said, “I’m going to change the world and create something inventive.”

To be a success at anything we all have to start at the beginning, to step out of that box requires you to set aside time to concentrate on preparing yourself to leave. Those that can manage their time well, balancing the pull of everyday distractions with the need to learn and trade will succeed.

So the question is how much time are you willing to invest to achieve this plan of yours?

The Power Hour

I’m sure you may have heard this term used elsewhere, but it’s a very important strategy in efficient time management. When learning to trade you should set yourself 1-3 hours worth of training and trading a night. Two hours of chart time and one Power Hour of learning something new.

Many who are reading this will probably have a day job and work between 8-10 hours a day. Not to Worry! The Forex market is open 24 hours a day 5 days a week, so you have no excuse not to get some practice in.

Try to keep a strict timetable when you are learning/trading and when you are busy with life’s other tasks. You’re not going to reach your goal if you aren’t prepared to put the time in and the time must be quality time, free from other distractions.

The time can if necessary, be split up into two halves, perhaps an hour in the morning/afternoon and two hours in the evening. Of course, in the early stages when the learning curve is quite steep it may be advantageous to put in extra time as long as the focus is wholly on the target that has been set. Don’t waste time with experimentation, learn the basics first and gain confidence in knowing what you are trying to achieve.

It’s important you give yourself that Power Hour to learn something new.

Money Management

Few people find managing their own finances enjoyable. They may happily give up their spare time for one good cause or another, but there seems to be a reluctance to spend money on their own education. Possibly because the benefit is not immediate, it is sometime in the future and most likely involves making a considerable effort.

Sadly, it is true that in this world you don’t accumulate unless you speculate. Those that are not willing to back themselves are unlikely to climb out of that box that society builds around us, unless they can persuade some else to do it for them.

Trading the markets requires a sound financial strategy, with the overriding principle that you never place a trade that you cannot afford to lose. Those traders that are a member of the BD family have been trained not to break this simple rule and as a consequence have benefitted greatly.

Trading

Trading in the Forex Market is free if you use a demo account. By watching YouTube videos and researching the internet you can teach yourself how to trade. There is no excuse for every trader not to be profitable, so why does the latest statistics indicate that between 84% and 95% of traders make a loss?

If they can consistently make a profit in demo mode what happens when they move over to a live account? Could it be that being in total control of their own training has not prepared them well enough to cope with the pressure of reality and without the reassuring support of a large family of like-minded BD traders?

STEP THREE (strategy)

Strategy

A good strategy followed closely will bring you consistent profits, it is well worthwhile taking your time and researching the many available and finding the right one for you. Whichever you eventually choose it will have a step by step process that is important to follow, taking notice of the advice from other expert traders using the same strategy.

Though there is always free training available on the internet, though in our opinion it’s always best to purchase a training course from someone who has already mastered it. It will be an investment that will save you time in the long run and should produce the results if you follow the rules carefully.

“Find the people who have the results you want, listen and take their advice and there should be no reason why you can’t have the same results” – Jamie Palmer

Whatever strategy is used it is important to keep the bigger picture in mind, what is it you want to achieve? The plan should be to combine a good win ratio from a closely followed strategy, with efficient time and money management to ensure that you reach whatever goal you have set.

“I could show you how to be profitable with only a 35% win ratio” – Jamie Palmer

Yes, we can. Our money management plan, exclusive to BD members, once understood, will ensure that you trade the markets efficiently and profitably, receiving the best available support and information.

As we are drawing to a close our PMS (planning, management, strategy) training, it is appropriate that we provide you with a simple strategy to use and practice while you decide if Forex trading is the right direction for you.

This simple scalping strategy should be used on a 5 minute time frame;  it is simple and easy to understand and demonstrates that trading Forex does not have to be complicated.

If you have been impressed with the support and training that we offer,  your next step will be to purchase the Binary Destroyer. We will guide you through our training regime and provide you with as much support and advice as you require in mastering its strategy.

From the whole of the Fx Learning support team, we look forward to you joining our family and wish you the very best in your future trading career.