Today, I want to talk to you about something that I really believe could impact your trading career and your life...
(don't worry, the goal here is not to sell you anything, but to explain our thought process and get feedback from real-world, aspiring traders on our approach to helping you be successful).
Recently, Winner's Edge Trading has been investing a lot of our time and resources into our "Signal" or "Trade Alert" service called DX9.
Why have we dedicated all of this extra work and resources?
It's because we realized that trade alerts, at the end of the day, might actually be the most helpful way to help the average, struggling trader become a profitable trader in the currency market.
In this article, I am going to explain our thought process on that and give you some bullet points as to why we believe this makes a whole lot of sense...
At the end, I will talk more specifically about the DX9 approach and give you a link if you'd like to test them out with a 2 Week trial.
Why the "Trade Alert" Approach Might Actually be the BEST Way for Struggling Traders to Become Profitable in the Market
1. A much lower workload
We find that most aspiring traders are interested in the markets and definitely have a desire to be successful, but when it comes to grinding out every day in terms of doing their due diligence, most struggling traders come up short.
This is not to say that, with alerts, a trader is not still required to do some work (see point #4), but it does take a massive portion of the workload away from a trader.
Most traders don't have the time to do thorough analysis, most traders don't have the skill to do thorough analysis, most traders don't have the patience to do thorough analysis, and most traders definitely don't have the discipline to do the analysis and walk away if no good setups reveal themselves... that takes me to point #2
2. Now, you don't have to have THAT much Discipline
The average desperate, losing trader we deal with is fighting a myriad of issues...
Arguably, the #1 hindrance is the lack of discipline. How does this lack of discipline rear its ugly head?
More often than not, a trader is sitting at their computer, going through the charts, doing technical analysis and getting bored because they aren't seeing a trade that meets all of their criteria. Depending on the trader, it won't be long before they force a bad trade and, BOOM, there goes their discipline.
Frankly, an aspiring trader with a bad track record of results sitting in front of their trading platform eager to pull the trigger on any trade they can justify is a recipe for disaster.
Using a signal or an alert system can eliminate that issue by only having you check the charts when you know there is a legitimate opportunity in the market right now--rather than stalking one.
**Important Note: No matter what kind of trading you are doing, you still need discipline. While I think an alert system can be a huge help in this category, a certain level of self control will be required to have any chance of long term success.
If discipline is the biggest hindrance for traders, lack of a good strategy may be the second biggest issue...
3. Solves the Strategy Problem (once and for all)
This is an interesting one...
99% of losing traders think they are not making money because they haven't found the right strategy. Likely, only about 75% of them are right...
While finding a consistent, tested, long term, profitable strategy is important; it doesn't really matter for most traders. Most amateur traders will take a perfectly good strategy and blow their account with it...
Whether it's lack of discipline, horrible risk management, zero consistency or anything else the strategy is probably not the main reason you are losing money even if it is a reason.
A good signal system solves this problem because you know you are following a good strategy. You don't have to worry about whether it's just the strategy that is causing you to lose money or if it's actually you...
Now you know that if you have 6 months of unprofitable results, it isn't the strategies fault. It's yours.
That's not to say that just because it is a profitable strategy that it doesn't lose trades and even suffer drawdown. But what it does do is very, very, very... very important:
It gives you the ability to focus on the other key components of trading (like discipline, consistency, risk management) because you know that you are following a winner.
In other words, every time you have a down week you won't need to think about throwing out your strategy because you don't know if it's any good. That question has already been solved. You need to focus on the other things and stick with it.
In truth, this actually should take a massive burden off you. You know that, arguably, the most important piece of the puzzle is already solved. You are already way ahead. You just need to work out the other components, stay focused and think long term.
That's some good news, right?
Thank you for reading!
Please leave a comment below if you have any questions about Using Trade Alerts!
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