Looking at the charts, do you often wonder how other traders analyse the same price action?
I will also explain why I encourage traders to join trading webinars regularly as it offers the quickest path to improvement.
The Danger of Copying Trade Signals and Setups
Many traders are looking to copy signals and setups. Some of them want to reach instant success with little training, while others use our analysis and webinars as a tool to grow. This article will explain why learning is the best approach.
Let me first explain that there is a potential short-term benefit for signal and setup hunters, but here there are some (hidden) risks to such an approach. Why?
Reason 1: trade management is a must, anyway. Guidance is often unavailable for the entire trading day, meaning some independent decisions are always needed.
Reason 2: your own trading psychology could interpret and implement a trading plan different from the original. Signal traders might advocate that only results really matter. They will explain that they only need one perfect entry, system, or indicator. In my view, such shortcuts never work.
Reason 3: there is no Holy Grail. If anything, it is luring traders away from learning how to analyse the charts properly with technical analysis. Stay on track!
The Benefits of Webinars
I can sum up the value of our webinars and analysis in one keyword — experience.
Live webinars offer a direct transfer of knowledge and experience from the mentor to the trainees. It’s a live application and translation of theory into practice.
There are two types of learning — theory and practical implementation. Chris and I offer both types of live webinars at Elite CurrenSea with an emphasis on live trading charts (4 webinars per week).
Webinar attendees benefit from our live sessions in many ways. We explain:
- How we analyse the charts;
- CAMMACD System Q & A
- SWAT System Q & A
- Which pairs we choose and why;
- How we tackle the markets;
- How we confirm entries;
- When our analysis or entry is invalidated;
- How we take entries;
- Our trading plan;
- Our trade management plan;
- Our own solutions to deal with trading psychology.
Basically, our live webinars show how we translate analysis into action and decisions when analysing charts. It is also important to remember that all of that is done in a live market environment. What we have heard from other traders, our analysis and webinars help traders build up their analytical skills, which, in turn, makes them feel less fearful and more confident.
I believe that most traders can learn and benefit from these aspects if they are willing to focus on the process rather than finding a shortcut to success.
Why Building Up Experience is Critical
Hunting for signals and setups is, in a certain way, lack of confidence in one’s own analysis. This is most likely based on either inexperienced and/or lack of trading knowledge, a problem that can be solved in different ways:
- Lack of trading knowledge can be solved by checking out educational articles and content.
Lack of experience can be partially solved by:
- Working with a mentor and willingness to focus on the improvement of your trading process rather than results.
- Building up experience yourself like performing analysis, sharing charts with peers, learning from trades.
- Using CAMMACD and SWAT systems as they have a good track record.
- Signing Up for ecs.LIVE service.
What helps grow your trading skills in general?
In my view, it is ultimately based on the following triangle:
- Making consistent improvements;
- Gaining more experience;
- Learning with focus and routine.
This might sound boring… but yes, focus, education, time investment, dedication, and patience are needed to cultivate any new skill, including technical analysis and trading.
Traders can close the lack-of-experience gap quicker when getting the help of a mentor via live trading room webinars. Traders that join our live webinars indicate how much they value this type of support.
You can see examples on the famous Forex Peace Army (FPA )website.
When starting this path of learning, keep in mind that there are typically about four development stages of a trader. It is good to know about these stages when learning and moving forward, so that you know where you are on the road map and do not get discouraged.
Last but not least, remember that live webinars and analysis are a source of education. Focus on the process rather than on signals and setups. It will provide much more value in the long run.
The webinars and analysis are courtesy of Elite CurrenSea, who also offer:
Cheers and safe trading,