EXPERTS SAY "Retail Traders Will Lose It All" THIS IS WHY... (and how to avoid it!)

"The biggest takeaway from this video is going to be don't switch strategies"

"Being consistent as a trader is beyond important and this is why if you consistently switch strategies you're never going to be able to capture the winning periods in the market"

"You can't consistently switch strategies and expect to see good results it'll look like the equity curve I just shared with you where the person was switching strategies and slowly bleeding their account to the downside"

"you need to decide are you going to be a trend continuation or counter trend trader neither is wrong both ways can equal profitable outcomes at the end of the year but you have to be consistent with one of them throughout the entirety of the year in order to actually see good results"

"pick between drink evaluation or counter-trend and then create strategy your strategy can be of course extremely simple or as extremely complicated as you would like you to be"

"if you're trading breakouts what you need to do is let's say you trade breakouts right here's a little break out on the pounce with you need to create conditions and entry reasons for breakouts and you need to stick to those before you stick to those though you have to bat test and see if historically these breakout patterns using the entry reason and the conditions that you create have provided you with an edge of the market"

"if they have backtest create a full trading plan around them by creating the times you can trade by creating a risk management plan and by sticking to all that by being disciplined and then take that information plug it into a spreadsheet decide whether it's something you want to actually trade optimize your portfolio with the best currency pairs for trading breakouts"

"Forex is has its own risks and I would never tell someone to open a live account that's completely up to you but if you feel comfortable that's the only time you need to be opening a live account and trading with live money"

"we have so many trading educators and gurus online that are teaching you the next best way to create a thousand percent gain this year that's not practical for one possible barely and very very very unlikely"

"you have more of a chance of winning the lottery then of creating a system or making a thousand percent a year"

"what you really need to do is understand how to avoid losing money you have to have money in the game in order to make money so you can't lose your entire account"

"you can't get into an 80 percent drawdown like I did at the beginning of my trading career and expect to eventually become a super wealthy trader you have to avoid these things first in order to become consistent and profitable"