by Ntombi Malatsi | Dec 21, 2014 | UNCATEGORIZED
One of the most dangerous position any person can put themselves in , is to depend on one Income for a living. Being caught up in a “rat race” where everyone is fighting/pushing for the top position is something that i could not stand anymore, because i hated being told what to do -Kim Kiyosaki.
I was introduced to Forex trading by a friend who did not only tell me good things about it, but also how challenging it is, I remember saying to myself “bring it on” I love being challenged. So i started, I must warn you though, it was not that easy. Good thing about it was that i could do it on demo account (no real cash). I started practicing for over six months on that demo account and was making it, just like many people, I also thought it would be as easy as on demo and i was actually ready to go live.
When i finally did, I realized that the profits i was making from demo account changed drastically. It was my state of mind because i was then trading with my hard earned cash and it was totally different, there were emotions involved, fear kicked in and i was totally in a different space than i was while i was doing demo, I would go back to demo on daily basis and i would “kill it”, but come live account, i would just get so nervous and mess up.
I Would make huge profits, which was a different story than what was really happening in my live account. From that experience i learned that with trading you cannot really call yourself a trader unless you have done it with real money, that is where the true test is, real money is the deciding factor. While demo account is useful as well. Now i can proudly say i am a Forex trader and i keep on empowering myself, learning as much as i can and getting as much information available to me.
IT IS EASY TO GO TARGET SHOOTING WHEN THE TARGETS AREN’T SHOOTING BACK.
by Ntombi Malatsi | Dec 9, 2014 | UNCATEGORIZED
WHICH ONE ARE YOU?
THE RESEARCHER:
There are two types of people that fascinate me lately. While I was looking around the people that I know and associate with I figured they are divided into two categories. There are those who are intellectuals, highly educated and hold numerous degrees, I tell you this type, very smart, they are intelligent and they don’t just do things without doing proper research. They research and research, collect statistics and research even more, collect more statistics and research again I mean they do research a lot. I respect this people, I like them very much; I gain so much just by being surrounded by them. These are the people I refer to as researchers. They might not be in Forex trading field, but they sure can provide you with all there is to know, they have figures and all to show, they are not just talk talk, they give evidence. They can tell you what happened to stock market dating back as far as 20 years ago, for example they can tell you all about certain religion and how it began and how bad or good it is, even when they don’t belong to that particular religion. That’s how good this people are they research about lot of things.
One thing I personally think they are missing though is action. A lot of times they are so busy looking at statistics, and at the end they don’t do anything (not generalizing, I am a strong believer in individualism). Even when they know exactly that they would like to trade financial markets or start any business, they allow their over analyzing nature to get in a way of getting started, they suffer from“analysis paralysis”, forgetting they have to start at some point. The more they research the more they fear. Research is essential because remember research provides facts, the good and the bad and usually the researchers have their eyes fixed on the negative part of a research. And that lead to unfulfilled life for this type. When statistics suggest minimal success rate, they automatically count themselves as failures instead without even being aware, read more below about researchers vs doers and their characteristics.
THE DOER:
Then there is my other group of people. They are also very smart, they read a lot, they are dreamers, they are not illiterate at all. They are educated up to some level, they have tertiary education of some sort, but there is one thing i have noticed and love about this group, this is how they operate:
They are forever hungry for opportunities, they are mostly driven by what they love other than the qualifications they possess, they are fearless, they also research a lot and while they do their own research, they also rely on the group above (researchers), this is what makes me to love this second group of people. They know that they want to trade Forex or start that business , they know what they like and they go after what they want, irrespective of the statistics and research outcomes. They are bold.
When they come across a statistic which suggest only 5% succeed in financial markets or that particular business they want to venture into, they don’t fear at all, they go for it anyway, they never count themselves among the failures, they research, they learn more instead of dwelling on the scary statistics, they are driven, they do not even once count themselves among the 95%, but they see themselves as part of the 5% success stories, their goal is to succeed in it and be counted among the winners, whether by increasing the statistics to 6% success rate or just fit in to that 5% success stories, and this group often succeed up to a point that the other group with lots of compiled research end up working for them.
Those are the DOERS, they research, they collect statistics, they get relevant education, they speak to relevant people who has been doing it already, they DO, they go back to research, they find mentor, they don’t worry about stats anymore because they have their eyes fixed on being among the winners, they read and read and they DO, and DO and DO until they master the skill. This type often live fulfilled lives as they do what they love. So if you love trading like i do. Do your research, forget the statistics,find that mentor, forget the robots, get proper education, count yourself among the winners, irrespective of your gender or statistics, just do. Thank you for stopping by and reading.
For more information on how to get started email me:Admin@learnfxtrading.net
by Ntombi Malatsi | Dec 7, 2014 | FOREX FOR BEGINNERS
LEARNING FROM THE PAST:
It is often said that life is the best teacher and we learn better from our own mistakes. But I also wish we can sometimes allow ourselves to learn from other people’s mistakes. We read blogs and books, we are warned about some things in so many ways but we seem to prefer to make our own mistakes, maybe that is just how life is. I have made my own forex trading mistakes too, truly speaking it was not because I was never warned, I guess I was just being “normal’’, I would not stop the awareness though, even when I am fully aware that my readers would still go ahead and do exactly what I am trying to warn against.
TRADING THERAPY:
Like it or not, you might have to become your own personal therapist, yesss you read correctly, personal therapist. Trading can be emotionally draining and very lonely business, not to mention daunting exercise, since most people are either misinformed or just petrified to try something out of the ordinary. Try doing it all by yourself without a mentor and you will know exactly what I mean when I say it is a lonely business, for anyone who doesn’t trade but only offer training ( believe me there are many of those) it might be a different story. I fail to understand it though, I would think someone who tells me I can make money on financial markets by trading currencies and CFD’s would also be trading right, am I the only one confused here or? . Anyway please do get that mentor, preferably the one who trades as well, they normally understand what you are going through as they went through same emotions, and they are well equipped on how to deal with them. I am also one of them, I am here supporting you by writing this post, keep that in mind.
FEW CHANGES THAT YOU CAN IMPLEMENT IN YOUR OWN TRADING:
1. “Ditch” that sloppy money management system and adopt the low risk trading.
2. Keep a diary or notebook where you can record all your trades.
3. Identify those currency pairs/ CFD’S that you do well on and try to stick to them while learning as much as you can about their movements and patterns and how they correlate with other currencies, the economic news that affect them, you don’t really have to trade everything that you see on your platform.
4. Make yourself available for your trading , no “rush” job please.
5. Monitor your progress while you focus on being more consistent than making huge profits, baby steps it’s OK, you don’t have to make it big on the go. I have heard traders literally laughing at someone who is more focused on being consistent than profits, and i have seen same traders falling flat, while the consistent ones master the skill and make it big. Rather be safe than sorry.
IS IT EASY?
No it is not , i know very well it is never easy to play by the rules and be disciplined. Maintaining few sources of mentorship makes it easier. I doubt you will feel pressured to do what will eventually hurt your portfolio if you can try to follow this few steps. Remember all the tips above works for me but maybe it can work for you as well. It won’t hurt to try some new strategies. If you are trading already keep it low risk and happy trading. Thank you for stopping by and reading my post.
by Ntombi Malatsi | Nov 25, 2014 | UNCATEGORIZED
WHO DO YOU FOLLOW AS A FOREX BEGINNER:
Tough question hey, I know. Let’s talk about this, who exactly do you follow as an aspiring trader?. Does having several demo accounts with every Forex broker that comes to your way help?, does it give you “heads up” on how things are done?, does it make you wiser?, Can I tell you what I think? I think it brings more confusion than clarity, I think it”eats”‘ up you time and produces no results at all. Please allow me to elaborate more and speak my mind, remember this is my own experience and I am in no way expecting you as my reader to agree with me, I am also fully aware that your experience might be nothing like mine, some of you might say following a lot of ”experts” works better but I am here telling my own story, I am not suggesting my way is the best, but at least I know it is the best for me. If my story speaks to you, then great!!! Keep reading, if it doesn’t; well you are still welcome to read.
THE JOURNEY BEGINS:
I knew I wanted to trade, I had no idea what I wanted to trade though, I had seen it online, almost every second a Forex trading advert popped up on my homepage whenever I went to the net, to my emails, I would see this advert, and most of the adverts go like’‘CLAIM YOUR BONUS NOW” you know what I’m talking about right. And I remember thinking wow!! I could be a millionaire working just for about 30 minutes a day; I really wanted to do it, so I have ”claimed” my bonus a couple of times, if you know what I mean.
WRONG TURN:
I signed up with every Forex Broker that I came across, believe me, I am not exaggerating, I really did, I had about 8 demo accounts from different Forex brokers. I was ”educating”myself, knowledge is power right! IIs easy, Google is there to answer all my questions, it is easy, so I thought. Of cause all the forums I was following and the sites I was visiting made it all glamorous and easy, though it was sites for “Forex for beginners”, I learned nothing as a beginner, mostly all I got was it is so easy like all you need to do is to plug in a robot and get rich, no one really spoke about challenges. The only thing I knew was HOW TO OPEN NEW ORDER, nothing more. It was hectic for me, I was reading a lot, downloading lots of manuals and books, watching Youtube videos, visiting sites, none of those things really made sense, they just wouldn’t speak to me as a beginner, even the basic manuals that are all over internet did not really make a difference, I was so confused yet i thought I knew something just because I knew some terms and some jargon, but nothing more. Now I understand why I was so lost, I was trying to ‘’grab’’ all that was being said on those sites where everyone just played around with Forex terms, showing off their ‘’smartness’’. I was just following. And everyone is an “expert’’ on those forums and threads. I sometimes get people suggesting that I should post, I should add videos and pictures, I can add videos anytime but for now, I am just thinking of myself at that time and how I needed to have someone clearing things out for me. Now I am doing just that for my readers, clearing things out and taking you out of the fog.
RIGHT MOVE:
I spent months and months trying to get this until I realized I had to”disconnect”from all the ”experts” that I was following and find myself just 2 mentors to follow and see if can be able to understand and learn a thing or two from them. One was more on technical and the other on fundamentals, I was able to focus and know the difference and I could also identify my own strengths and weaknesses and also my own preferences. I made a decision to unsubscribe myself from all the newsletters and daily emails that I was getting from my 8 Forex Broker companies, I also deleted the accounts. My head was clear, I felt so free from all the”clutter”, I also removed myself from all social media Forex groups especially Facebook groups ( I have absolutely nothing against Facebook groups) please don’t get me wrong. I did because I wanted to be away from outside influences or ideas from people who were in fact just like me, following everyone and anything that has Forex word , but mostly I saved myself from all those full of empty promises robot sellers from groups and I was able to recognize the fact that there are CFD’S as well that I can trade.
So please do yourself a huge favor, do not just follow on forums thinking you will learn by reading comments and conversations there. Those people are not your mother, they are there minding their own business, some are there just to sell their”‘money making robots), they are not there to put milk in your mouth, they are not there to educate you, they are traders already and what you read there is even more confusing if you never had proper training. Chances are, you will end up so confused just like I was, it is a very good idea to be involved in forums where you meet the community of other traders, I do it as well now because I am smart enough NOT to “swallow” everything that is discussed there. Relying on that too much is just dangerous. Rather find someone who will be there for you to answer your questions, I mean NOT in an AUTORESPONDER WAY or DO-NOT REPLY emails. Many thanks for stopping by and reading my post, please do come around again.
by Ntombi Malatsi | Sep 17, 2014 | UNCATEGORIZED
Life’s battles do not always go to the prepared, stronger and faster man or woman. In one way or the other we find ourselves being in situations where our heads are “deep in water” and we feel like we can’t breathe anymore. What do we do, do we run, do we hide, do we ignore? there are so many battles that we as people face in our daily lives, but the one that mostly stands out at least for me is the financial battle,”sinking” in debts. People might argue that money is not that important, I cannot disagree, but I am definitely sure the reason people say that is because maybe they have not been without it, if you have been without money and you know the difficulty that comes as a result of that, I am sure you’ll agree with me when I say financial battle stands out from all other life battles. Money might not buy everything, I fully agree, but it does make life bearable even when we are challenged in other arrears of our lives.
LIFE IS NOT ALL ABOUT MONEY BUT WE CAN’T DO MUCH WITHOUT IT.
If you are one of the people who are tired of living from hand to mouth and being in and out of banks taking loan after loan, then it is time to change the situation.I know we always say “I’ll do something as soon as I get the money” but the truth is, it can take a lifetime unless you get up and do something, there is no time to wait, time is now, but I don’t have money now, does it not take money to make money? I know these are the kind of questions that are running through your mind right now as you read this. Yes I am saying time is now. Money or no money, time is now, to make that change. Lets start by doing the following :
1.Find out what is your “chief” aim in your life, once you find that, make sure you develop sufficient self-confidence to attain it.
2.Create clear mental picture of where you want to see yourself.
3.Rid yourself of toxic thoughts like envy, jealousy, selfishness, greediness, hatred and just develop love for all humanity, after all it is a good principle.
4.Stop jumping from one opportunity to another without understanding what you are doing, remember you are in debt, and that alone makes you vulnerable to many unrealistic opportunities out there.
5.Lastly, fully understand that no wealth or possessions can long endure unless built upon truth and justice. To do that, you need to ‘shy’ away from this deadly practice called greediness and do not fear criticism, I get criticized a lot for believing in Forex, but that is not going to stop me because it works for me and even so, I do not expect it to work for everybody and always remember, if you keep doing it, ratio will appear, persistence is key.
All the above can be done while you do not have a start up cash. As soon as you are fully prepared, money will find you. It is in the planning, education and a friendly alliance with one or two persons who will encourage you to follow your plans. I can be that person to you because I have found my plan in Forex trading, it could be the plan for you as well. Find out more about my plan, and how I am striving to be financially free by connecting with me via social media of your choice listed at the bottom of this page. Thank you for stopping by.
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