Forex Trading Mentor – The Power of a Moderator Calling the Signals Live

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A unique way of learning, even better than seminars.

Anyone Can Spot a Signal in Hindsight, but when they are called Live there is No Fudging the Figures. I like live trading seminars for their accurate and rich content, the chance to ask questions directly and see the overall confidence of an experienced trader.  A moderator however, is even more helpful. They can show you how they trade live and how they will face that particular trading day. Every day in the markets is unique, every move is unique, and a very strict, rigid mechanical trading system that fails to look under the hood, eventually fails as market conditions change. 

No matter how well you know your technical analysis based trading system, there’s always more and more factors that can influence market action very suddenly, out of the blue! Some could have been predicted by technical analysis and some couldn’t. The market hides many nasty surprises that can make two identical trends of two different periods, that look identical on the charts but have different fundamentals under the hood, such as different strength in Bonds or Crude oil or Interest rates –these are not visible on the charts, yet they can make the two seemingly identical trends bring about completely different trading conditions. The blind technical analyst follower will definitely fail on one of the two trend periods, the best he can do is be well prepared. Fast changing market conditions that overpower many indicators are not ever addressed in books and even in poor quality seminars, Moderator live trading services do!

A good moderator helping you, while trading live, cannot be matched by any books or even seminars.

Unfortunately, there seems to be so much  junk information on the internet, seminars, webinars, and thousands of books, even books with average to positive feedback that are really worthless and dangerous to a trader. The point is that anyone can write a good book by looking at past data and picking convenient signals while avoiding to refer to conflicting signals and technical analysis when having a lot of uncertainty.

Most of these authors don’t even trade themselves, it’s unbelievable how naive people trust them and fall victims of well presented and well written junk content. I have known some good authors and trading system inventors such as Mark Douglas, Afshin Taghechian and Van Tharp, but they are the exception to the rule. Angel’s day trading tips, Murphy’s classical but ground breaking technical analysis for investors and Taghechian’s proprietary market indicator and divergence E-mini trading are the only rare exceptions.

Live trading is the real test for a good trader to prove their skills!

Live moderator trading is where a fake trader cannot stand, and cannot fool you by any means, they have to prove their technical analysis understanding, they have to prove their understanding of fast market changing conditions (crude, bonds, rates etc influencing markets behind charts) and they have to show if they are real, experienced traders by facing up to a losing trade, getting out fast, and equally holding onto a winning trade by assessing their entry criteria and target level.

Paul Murphy is a passionate and successful trader.  Always in search of the best trading systems, and researching ways to help you be the best trader you can possibly be.  Discover how to improve your trading performance with articles and interviews at his blog: www dot trading powerhouse dot com

This entry was posted on January 7, 2010 at January 7, 2010 and is filed under Trading Education. You can follow any responses to this entry through the RSS 2.0 feed.