How Trading With a Pro Trader Can Help You Succeed
Posted: May 17, 2016
For many users who have fallen into the trap of enticing advertising trading binary options and forex turned out to be a disastrous adventure. It is estimated that 95% of people who trade forex online lose and only 5% profit from trading. So the main question is why do so many traders fail?
Unfortunately one of the main reasons why most new traders fail is because they lack the skills and mindset of a professional trader. This should be quite obvious to anyone who sits down and considers the working environment that is based around risk. Someone without proper understanding of risk management and at the very least some technical analysis has no place in trading the markets.
The biggest problem that most of us part-time traders have is that we often don’t have the time to learn all technical analysis and test various trading systems. Learning to trade successfully takes many months, if not years or even decades for some people. Things would be a lot of easier if there was only one trading system to learn and a way to trade alongside a professional trader who could teach it to us.
Fortunately there is a way to do that through a mentoring program online or a trading signal service. Mentoring programs can be individual or group based but they are usually quite expensive and very private which makes it more difficult to track results objectively.
The other way to learn how to trade from a professional trader is to sign up to trading signal service with a live trading room. They are usually about 100 USD per month but what you get for this amount are quality buy/sell trading signals and a successful trading strategy enforced in a live trading room by a professional trader.
Seeing the charts and listening to a professional trader explain his strategy and analyze the market in real-time will show you what it takes to trade at a professional level. It requires a lot of concentration, good money management skills, and most of all confidence in one’s trading strategy.
One of the best parts of a live trading experience is the commentary and the active participation of others that can be followed quietly in a separate chat window. Often questions are asked by others that you would be too hesitant to ask or think of them yourself, so the input of other participants can often be beneficial and valuable.
There are a few live trading rooms available online. Some of them are completely closed yet others remain open to subscribers. Trading live with a professional trader can completely transform your trading experience. The truth is that it can turn you from a losing trader into a winning trader and isn’t that what we all want in the end?
Adam Teen is a forex and binary options trader and enthusiast. He has been writing extensively about binary options and other investments on winatbinaryoptions.com and other websites.