Many aspiring traders spend endless amounts of time being spectators in the market instead of actually trading it. They watch the charts, analyze the market, tweak their indicators, place some lines on their charts, and do so for weeks or months straight, only problem is they never end up placing a trade. They constantly remain spectators in one of the most lucrative markets on the planet. They just like to watch the moves, they never like to actually trade them. Trend after trend, reversal after reversal passes them by, but they do nothing. They can be paralyzed by fear, or by analysis overload. They can be scared to pull the trigger. For some people this process can last weeks, months, or even (gasp) years.
The highly successful traders are NOT spectators. They are actually playing the game and placing live trades when their system tells them they should. They are the ones that make the money – the big money. All the analysts, economists, news pundits, they are all spectators. Spectators don’t make the big money, they don’t even make any money. There are hundreds of thousands of spectators in the forex market. They just like to spend their time being a spectator and do not like to take the next step and actually become a market participant and place live trades. There are only a small number of order flow traders that actually diligently prepare to trade the market, slay their inner demons, and are mentally and physically prepared to win in the forex markets. They are the winning order flow traders.
The spectators are never going to have any chance at financial freedom. They are never going to have a chance to compound their money and create real wealth.
It is the real order flow traders who get out there and place the live trades that achieve the most success. The order flow traders are the ones that have the joy of having the months where they generate a 50% return. They are the ones that control their risk and can catch the big market moves that occur many times during the year. They are the ones that achieve financial freedom. They are the ones that can compound their trading account and achieve real wealth.
There is a quote that says “There are really only three types of people: Those who make things happen, those who watch things happen, and those who say, what happened?” The truth in that quote is truly endless. There are countless market spectators who just watch the moves happen, and never do anything to help them capture the market movements and convert them into massive profits. Then there are others who just get completely blindsided by the market movements, have no clue what happened, and are wondering why they weren’t included in the market move.
The highly successful traders are NOT spectators. They are actually playing the game and placing live trades when their system tells them they should. They are the ones that make the money – the big money.
Finally you have the traders who actually make things happen. Every day they wake up with a system for attracting the best possible order flow trades. They take full personal responsibility for their trading and their lives. They are in full control for their successes or failures. They perform the analysis in a timely fashion and execute the order flow trades. If there is something they do not understand they go out and gather the proper information and research to figure out how it will affect the order flow situation. They never just sit around and hope someone else will save the day, or save their trades. They know that the only thing that can save their trade from hitting their stop loss is the behavior of other traders.
Trading success is a result of an investment (sometimes huge) of time, educated effort, determination, constant improvement, knowledge of order flow, and the slaying of their inner demons. It is NOT accident that they consistently extract profits from the market. Many of the spectators in the world looking to mooch off the successful traders are the ones that believe in luck or accident. They are constantly disappointed by the results of their trading and their lives.