All sorts of people spend years of their lives never building any solid foundation for future trading success. You hear about the trading horror stories of how some people have tried to succeed in trading for the past five or ten years but failed. Such stories litter the trading forums.
My guess is that of the people that attempted to achieve trading success, spent years on it, and failed, probably had a trading system that was not in harmony with the foundations of every market, which are order flow and liquidity. Chances are they did not solve their emotional and psychological problems as well. But what I have noticed over the years in my order flow development, is that once you have a great system, and know why the price has moved and will move in the future, then a lot of emotional and psychological problems start to melt away.
You start to solve them because deep down inside you believe that you have a killer edge in the markets and that in order to fully take advantage of that edge you need to solve any emotional and psychological problems. You start to realize that your killer trading system deserves great money management and trading psychology.
Once the trading system part is largely figured out, it lifts a big weight of your shoulders and you can focus on the other areas that you may be weak on. Why? Because you are no longer chasing the holy grail because you have already found it. There isn’t that hunger anymore to chase any forex robots, to tweak technical indicators, or add another fib retracement to your chart.
That chase for the holy grail ends as you have already fully convinced yourself that you have a killer edge, and that it will persist indefinitely into the future – so long as you put in the work necessary.
There are other traders, even order flow traders who believe that they may have an edge today, but that the inefficiencies will not exist in the future because somehow they will be arbitraged out. The answer to that question depends on what type of inefficiencies they are taking advantage of. There are different types of inefficiencies out there. I call the ones that do not last “non enduring” inefficiencies because there stands a good chance they will not be around in six months or a year.
Then there are the “enduring” inefficiencies. These are the ones you may want to spend your time on. For they will exist indefinitely into the future, no matter how many traders attempt to exploit them.
The traders that are exploiting the non enduring inefficiencies, if they want to convert their edge to an enduring edge, need to lay even stronger trading foundations and order flow foundations.
I like to choose to specialize in the enduring inefficiencies. That way I can sleep soundly knowing that my edge will exist indefinitely into the future. I can do that because I laid the proper trading and order flow foundations for how the markets move and behave.
I could never have done it if I was chasing the holy grail indicator. I could never have done it tweaking my technical indicators. I could never have done it chasing the forex robots. I could never have done it adding another fibonacci on my charts. For such things do not move the markets, and thus will not help you develop a solid trading and order flow foundation.
You should always want the strongest possible order flow foundations. The people that have the strongest trading foundations will tend to be able to be on a higher point on the trading profit ladder. They will also have a trading template from which there is unlimited growth and potential.
It is important to have a trading methodology and foundation that allows for unlimited growth and tweaking potential. You can tweak order flow to your hearts content. Or you can stop at a certain level and just exploit the advantage you have built up.
Tweaking moving averages and technical indicators cannot provide that sort of edge. For they do not move the markets.
With order flow I can tweak the entry criteria if I want to capture a smaller move, or if I only want to go for a bigger move. I know a lot of the triggers that go into the market movements.
But there are all sorts of people who do not want to lay the solid trading foundations. I know of traders that have spent months or years chasing the holy grail with thousands and tens of thousands of dollars of losses to show for it. They engage in trading system hopping. They spent hundreds or thousands of hours on something that they eventually quit on. They quit because they didn’t build a solid trading foundation from which to extract profits from the market.
I know because I was in that exact same situation. I spent two years in the beginner and price action trader cycles. I don’t regret it. I just wish I knew what I know now about order flow and how the markets move. That way I would of been catching the great trades months or years earlier. I would of been able to shift my time from chasing the holy grail and system hopping to performing the true order flow habits that make you money.
It is important to make money. Just make sure that you are laying the foundations for sustainable trading success by exploiting endurable inefficiencies.
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