Setting Trading Goals for 2021
Cool! So i'm going to take over from here. Thank you guys for coming into the panel and i'll take it over from here we've got 750 people in the room right now and counting and let's start let's start all right thanks guys all right here we go let's begin the webinar all right okay all right you guys can see me just fine okay let me pull up a whiteboard really quick let me pull up a whiteboard real quick we'll start with that we'll work our way in talk trade we'll do all that stuff don't worry uh we do that all the time anyways um but i need to get inside your head right now to talk about the important stuff first otherwise everything is a waste everything would be a waste okay let me get the chat out so i can see your messages uh here we go okay i can see your messages here all right here we go i'm gonna draw a circle can you guys see the circle yep perfect perfect all right all right let's get started let's get started okay couple things when it comes to goals goals are nothing but an answer to this so let's start with it i'm going to ask all of you guys this question those of you guys who don't want to type because i'm like i don't want to use my fingers think about it just think about it verbalize it in your mind okay so why i'm going to ask all of you guys this one question i'm going to start broad and i'm going to take it as sharp as possible okay today we're going to open up your brain and consider yourself laying on a couch in my office why do you want to trade okay why do you want to trade is it because some people have seen some movies of trading you know okay is it because the movie wall street wolf of wall street and they're like wow man lamborghini you don't have to do anything you just wrap money around people and send them to switzerland is that why okay so a lot of it i'm when i'm reading these questions comes to financial freedom and time freedom is what i'm seeing okay and another contender another contender is job okay i don't want to be in a job okay fair enough this obviously means you have a bad boss or you're in a bad environment so that's obviously a a not a good environment to be in if you don't like working for someone that basically means your seniors are horrible people okay so that's that's understandable that's understandable but this is the dream of every single individual on this planet let me ask you a question what makes you any different what makes you any different can you tell me something that you do better than anybody else okay so i see some people saying uh discipline i see some people saying hard work okay good even though many people might have discipline many people might work hard but you can have the self-confidence to say yeah but i will work harder yeah but i will be more disciplined yeah but i never give up fair enough right that's a that's a thing that you can say i might be better than most people and somebody else might say the same thing but that's fine this is good to have let me ask you the next question what if you become a traitor what do you envision happening what do you envision your life once you once you do become a traitor okay people saying traveling working helping others no more nine to five freedom sauna every day okay all right notice not one has said so i can trade better i want you guys to realize this one thing right now not one has said i want to be a trader so i can trade better so i want you to understand one thing that i'm pointing out here you yourself are answering that you're trying to be a trader not to be a trader you're trying to be a trader to do things apart from being a trader so far so good can you tell me what is the difference of the job that you might be in right now versus getting into trading then what is it what is the purpose of us to get a job oh i want to get a job so i can make money i can make so once i make money to do that isn't that the same thing it's exactly the same thing but you're not actually enjoying the job and you might not actually enjoy being a trader okay let me go deeper now let me go deeper now if you know trading is only a means for you to do what you need to do then does it matter if you're taking trades horrible trades and good trades if it's just the means why does it mean that you have to take every single opportunity in the market you don't have to do it right do it well stop taking every single trade on the market because you're not trading for the sake of trading you're trading it for this goal you need to remember that every single day because not one has said i'm trading to be a great fantastic trader on this planet i haven't heard that even once okay so and that's not a it's not a bad thing i'm not saying you must be a traitor because of that no no no you can do it for the means but don't forget you're doing it for the means does that make sense i know i'm starting off with the bubble bursting i need you to understand you're not doing it for the sake of trading and that's absolutely fine but don't forget that never forget that having that said your actions need to be determined on if i do this trade or if i do this trade which one is going to justify the means which one is going to justify the means or am i simply trying to look good trading so i can go post on some forums saying look at this i entered here i exited here i made 400 pips everyone bow down to me does that matter will that matter ever no one cares and you yourself are not respecting yourself because you're not focusing on what are the means we're too busy in trying to look good does that make sense okay let's take it a step back a little bit let's take it a step back so because of all this information i'm sharing with you let me give you a little glimpse a little glimpse of the industry you're in how many guys here are forex traders okay urban forex webinar most most of you guys should be forex traders 99 probably but some of you guys are also forex and equities and uh futures and cryptos okay right all right so here we go how many of you guys can say with the confidence you know your industry versus another industry would you say you know your industry okay some people saying yes some people saying no and some people are like well obviously that's why i'm here it's like i'm in a webinar tell me what am i missing right okay let's let's start let's talk about this a little bit okay let's start with let's understand your industry okay in forex can you give me a currency pair what are you trading for it's a currency pair right so okay a lot of you guys are saying euro usd most popular pair let's do that bam bam bam euro usd here we go in stocks give me a give me a stock okay apple tesla snow okay baba okay so tsla is tesla okay everyone knows about tesla so i'm putting tesla i can put apple if you guys want but you guys get an idea right that's one stock now here's the thing now tesla if it goes up is that good is that good for tesla it's very good if it does this is that good for tesla it's okay yeah and then it does this is that good for tesla good people are happy that fantastic 500 pips 5000 pips doesn't matter it's fantastic because it can happen have you seen the stock of warren buffett you know berkshire hathaway that thing that chart is like this it can go up forever it can go up forever i've seen disney stocks lately it just keeps rising it can go up because that's what stocks do and that's normal that's normal how many guys here have heard the concept of if the price is above v-wap stay in the buy if the price is above your m a stay in the buy if the price comes below your v-wop or your ma exit everyone heard of that okay those of you who have been in the industry for more than a year will probably aware of that but those of you who do not know a lot of people use moving averages right like this and they're just saying as long as prices above the moving average stay long if it comes below the moving average you need to exit basically simple very simple simplistic approach right so far so good now in a stock yes that's absolutely normal because it can fly it can fly let's switch it up a little bit i'm gonna take you over to the forex side here we go baby euro usd markets go up is that good ah i like how some of you guys are saying for euro yes but not for dollar that's bad for dollar okay so if it goes up like this is that good so let me ask you one thing i'm gonna i'm gonna use uh like let's say bob and lisa are normal traders they just started into forex trading and they're like oh it's going up you know what i'm gonna buy it right here here we go let's go baby let's go the u.s dollar is suffering the u.s dollar is suffering by going up can you tell me does the feds are they gonna say
you know what we're gonna fix the economy but hold on bob and lisa have a buy stand by we're gonna let bob and lisa take a profit first and then we fix the economy come on it doesn't make any sense does it they're not going to be like you know we want to fix the economy but as many people are in the buy standby we'll just let them finish their trade make some money and then we fix the economy no they don't care they don't even know who you are they don't care right having that said can you tell me one thing if you see a trade where people are saying and then i made 400 pips is that good all you have to do is stand up and say okay do it again okay do it again okay do it again in a whole 12-month period they've wiped out their account so many times there's no there's no asking but this unfortunately is what grabs people's attention into forex wow imagine if i traded 400 pips with one standard lot i could have paid the means all the means so we get attracted into this industry because of the means and we look at this that is the wrong approach that is the wrong approach i haven't got i haven't even gotten started yet i am just telling you anyone doing that and saying i only trade one currency you got to run you got to run from them you need to learn how the market flows how it flows you need to understand your industry so far so good is everything making sense i'm trying to keep it as simple as possible for it to click in your mind so when you approach this industry you know what you're dealing with and you're not just trying anything and losing money for no reason because that would be horrible right okay cool let's take it a step further let's take it a step further let's take a step further if we know prices should not go in one direction like that doesn't make any sense let me show you something here ready all right now i have time to go to the charts shall we let's go to the charts real quick okay let me know when you guys can see my screen uh where did my chat go sorry uh chat's gone away okay here's my chat okay so you guys can see the screen right you guys got it all right here we go i'm gonna open up the daily chart okay i'm gonna open up the daily chart i'm gonna go to NZDUSD and i want you to tell me wait a minute Navin you said prices cannot go 400 pips in one direction but doesn't this look like one direction isn't that one direction and that's a lot of pips right from 5700 to 7100 that's thousands of pips in one direction let's take you in a little bit just in a little bit let me show you this piece here i want to show you this on the 15 minute oh 15 minutes might be too far away but let's see if i can get you there where is it here we go there we are okay look at how that in this circle look at the way it's gone up is it smooth sailing no it's rockstar messes it looks like someone's heartbeat doesn't it so can you right now in this room promise me that you will not look for i'm going to get in here and i'm going to get out here non-stop we're just going to sit back and be like yeah baby we're going to make so much money that the ferrari dealership will need to think of how to make ferraris in gold because i have nowhere else to spend my money i make so much money no you got to get that out of your mind it's not the industry for that does that make sense so far so good so even though it has gone that distance non-stop it doesn't go in a straight line it doesn't go in a straight line and all of these dips are stop losses for many many people all of these sideways movements drive people nuts like i don't know what to do in that sideways movement it's going it's driving me crazy it's because every single day it inches ever so higher it inches ever so higher so far so good yeah okay cool now let's take all this information let me take you back to the whiteboard okay here we go okay let me get the chat up so i can see perfect okay now circle yes you guys can see the circle yeah perfect okay so now you know a little bit more about your industry you know that it doesn't move in a straight line like stocks now let's bring you back to your goals because your goals are not to be a good trader your goals are i just need to solve this problem i need to be free i need to buy a ferrari and i need to show the middle finger to my boss basically right in a nutshell that's what it is right so having that said let's talk about this now if you know how your industry works now which is in this format you now know if you have a trading system that says buy here but you got to hold on till there and you're going to do this in the next 24 hours you know that system is not going to work for you so far so good right you need to get that in your head that that's not going to work i can't do that not in forex that goal is irresponsible it's gonna take money from me then give me money so you gotta you gotta prepare yourself mentally like no that's not gonna work i'm sorry this guy on youtube keeps buying it and then he shows he makes 300 pips but then he goes quiet for like 30 days and then he makes another 300 pips what happened in between right what happened in between right so now you know now you know okay let's take it a step further let's take it a step further okay i'm gonna write this down over and over again until you get it in your head the goal for many of you guys is not trading is the means right all right here we go now what is the means let's define that a little bit let's start with the financial freedom can again remember these messages are private what numbers are we working with right now at the job what kind of numbers are we dealing with remember no one can see you so you don't need to say i'm making five million dollars i i don't care just be honest what are we working with okay so we're we're looking at anywhere between 2k to around 10k a month right this is what we're looking at on average okay so two thousand dollars to ten thousand dollars a month and our goal for the means is i wish i can do that or more without going into the office so far so good is that does that sound about right yeah that's a that's a goal we would love to get towards saying i would love to do that at least that same amount without going to the office what is it about the office that you don't like let's go deeper what is it about the office that you don't like working being responsible and the age-old thing the nagging no one likes the nagging right but do we think we're gonna replace this in trading let's be real here are we gonna replace this in trading i have a feeling like by the time we're done with this webinar half of you guys are gonna be like i don't know if i should be trading i hope that's not the goal i'm trying to get you to have a clear vision rather than maybe i shouldn't trade okay so here we go we want to get rid of the office so we don't have to commute for two hours okay i can get that we're never gonna replace this that's not gonna happen if we're looking to get handouts and free money that's never gonna happen okay the big boys made sure of it that it will never happen okay the whole economy is built around that's never gonna happen you are never gonna get with making money by doing nothing okay this is why anyone who's becoming rich off of bitcoin today any pullback that goes in deep they're on the streets tomorrow because they don't know what to do all they can do is buy and hold on that's all they can do right they don't know any better there's no planning there's just yeah it's good you know yeah fiat money and we've got to do this we got to do that there's the planning okay do you know what it means to be a trader a trader says i am i don't care about the price where it's at right now the price ladder that you see on the left-hand side of your chart let's say it's one dollar 25 cents 1.90 and 2. a trader is not concerned so much about the price he's concerned about if i can get this price can i sell it at this price and make a profit right you guys understand that because that profit is what satisfies the means it's that profit that satisfies the mean so does it matter what price it is no it doesn't matter so the whole goal is can i get in well can i exit well so my whole mission is to get in well and exit well but safely if i don't do it safely i will never get my means correct i gotta do it safely which means i gotta work right now i need to work right now i need to be responsible and i am going to nag my own self if i'm not doing it right i'm going to irritate myself and say why aren't you working hard enough why aren't you figuring this out stop trying stuff buckle down get it right right you got how many guys agree let's go deeper let's go deeper let's go deeper again means this is why a lot of you guys are doing it you guys are not doing it for trading and that's okay and that's okay don't let anyone tell you otherwise that is perfectly okay so we covered a little bit on the money aspect it's not going to be easy you're going to have to work for it so you can replace your office here's the thing can i ask all of you guys one question how many guys in here not work in retail but actually work a white collar job like you work in a on a desk in the office yeah a lot of you guys right a lot of you guys are working in the office can i ask you one question how did you get that job did you just walk in one day and say hey i want to work and the boss was like oh perfect come right here sit down okay so there was an interview what was in the interview what did they ask you qualifications you need to show you are better than the next guy to get this job that will pay you the money do you know how many people are in this industry trading from home you're interviewing against all of them all of them does that make sense this is no longer an interview that you're saying oh there's 30 people in the lobby i just got to beat the 29 people you are now going against 3 billion people so far so good i don't mean to freak you out don't mean to freak you out this is why i was going to show you my trades after so you know it can be done i just want you to focus right now i want you to get all these pieces in your head and down right okay so you're you know the reality you're dealing with and you're not just getting into this thinking i just have to follow green arrow means buy a red yellow arrow mean cell don't don't do that come on you guys are smarter than that okay you guys are smarter than that okay here we go so you're gonna have to work hard initially to get this right which means this is your university you need to build your qualifications i'm not saying you have to go and get a degree you need to build your brain this is the worst brain i'm drawing but you guys get the idea okay this is a super brain it looks like a grass it's a bush okay well you gotta you gotta build your brain up to say i deserve that now therefore bye bye office hello home office okay how many guys in here think if i learn how to trade all i need is my cell phone and the beach how many guys think that did you know that's wrong that's absolutely wrong absolutely wrong you can't do that you can't do that it's an illusion it's an illusion it's like people saying i i work from the beach let me see your work from the beach you can't even see your screen it's so hot sand goes in your laptop who works from the beach it's such an illusion but it looks good on instagram it looks beautiful on instagram nice colors and everything it's not reality you gotta get down to reality and be like all right if i'm gonna make more money than the average person is making i need to step up my game and be smarter because i'm competing for this interview okay i need to come down to the reality of things so far so good we're talking about the financial means so far now the freedom let's tackle the idea of once i become a trader i'm gonna become free if you're free when do you trade right you have the freedom to trade from where you want i can get that part but if you're actually free and you're not doing anything how's the money coming in can i actually ask you guys that question where will the money come in from you still have the trade you still need to look at the charts you still need to be so good at understanding what you see that you can make sense of it and saying okay now this trade is going to take three days to perform i'm good that's different because you're prepared for that you're prepared for that so the freedom is an illusion there's no such thing you know why because forex is 24 hours how many guys here who've been in the industry more than one year can tell you can tell me here and agree with me that it's 24 hours but we can't trade 24 hours yes or no when can you trade when can you trade can you answer that question there you go active markets opening hours most likely all right so wait wait wait wait wait okay i hear you guys let me let me get this straight so opening hour so that means 8 a.m london and 9 30 a.m new york oh man it's like going back to the office i gotta wake up early illusion gone you're still gonna have to work you're still gonna have to wake up correct all right so we're 40 minutes into this webinar i'm gonna ask it straight right now how many guys feel in this webinar i don't know how many people are in here right now hold on there is 850 of you guys in here so how many guys as of right now be like oh man dude you're such a downer it's like i i don't know if i should be in this industry what the hell man like i came to get inspired and get goals and you just gave me this nonsense is like should i even be doing this all right now i'm going to take you to the other end of the spectrum once you understand that you're doing it for the means you got to do things right okay by doing things right i already opened up one aspect in your brain that you don't want to do it non-stop in one direction that's not going to work you don't want to be looking into trades with the idea of you're gonna be so free and so rich that you're never gonna have to do anything you gotta have to just accept that you're gonna be working okay you're gonna be working but at least it's fun at least it's fun right like you got to give yourself that if you have the passion for it you'll stick around you'll stick around once you start making two or three good trades you're gonna get that feel for that money which is good which is good now the goal is to make sure that feel for that money is not random it's stable yeah the word let's do it again do it again do it again okay you need to get that part in otherwise you won't know will i be able to pay the next bill it'll freak you out correct because at a job we're used to i didn't do my work so well but i still get my paycheck in the mail in in every two weeks yeah you won't be able to do that in trading in trading you either make money or you lose money there's no halfway there's no halfway all right here we go here we go flip side flip side so is there anything good about trading let me hear it from you guys what's the good about trading now that i've given you so much realities of it let me see what you guys say about the good about trading let me see that passion come out what is that passion what makes you stay in it okay good so there's opportunities it's never boring no two days are the same i can scale as big as i want unlimited growth potential okay fantastic all of these are correct all of these are correct i'm gonna give you the benefits now ready okay here we go here we go all of you guys watch this watch this this is you as an individual you work all your life to build up a savings right to build up a little nest of money and you're like alright i finally put together a hundred thousand dollars i worked so hard day and night i'm like 70 years old now and i put together a hundred thousand dollars i now will invest this into a house i will buy a house and i will put it on rent okay just simple simple thing right because this guy do you think he's doing it for the house does he like real estate he's never been in real estate right he's never been in research he's doing it for what why is he doing it what's that favorite word we like to use here he's doing it for the means here's a here's the thing with him if that house does not perform his entire capital is stuck in that house he now needs to sell his house to sell that house what do you need you need a buyer if there's no buyer he's dead if there is no buyer he's dead let me flip it around the situation that person is you in trading you decide instead of the whole nest egg because you can buy at any size you want you will take this piece and buy euro usd and your goal is to make 200 percent from that piece which means a two is to one risk to reward so whatever that piece is let's say it's a hundred dollars your goal is to make it into two hundred dollars okay what if that thing doesn't work you're in a buy and that thing doesn't work can you hit the sell button and instantly get filled yes this is the benefit that you have of trading if you come into the world of putting money in this benefit is so powerful in forex that you cannot compare it to anything else out there if you put in two million dollars in a buy and you're like i don't like it and you hit close it'll close it'll fill you when you can get out you won't need to be like come on mr agent find me a buyer for this two million dollar house sorry man in this market no one is buying i'm sorry you're stuck with it what are you gonna do then you see so there is a plus side to trading there is a plus side to trading so now you need to understand that trading needs to be pockets of investments from that little big piece you had these are little pockets of investments that you're trying to say this needs to grow so i can satisfy the means let me ask you this again how many of you guys have had this feeling in your career i'm not saying you're doing this now in your career where you take that amount you do a trade and you're like come on it's gotta go come on come on it's good come on just keep going and then it does this you're like oh man i was in so much profit but now i'm in a loss because you're trying to trade you're not understanding why you're doing this now the means never gave you a goal of is that enough or is it not enough let's talk about that a little bit let's talk about that a little bit here we go let's say there's a there's a trend right there's a support resistance right here right there support resistance everyone understands support resistance right prices come down and you're like okay i'm gonna get in here with my nest egg that i have for one percent i'm gonna put in a hundred dollars here okay my goal is i don't want to lose a hundred dollars okay so where can i not lose a hundred dollars well i i'm thinking i'm keeping it very simple here okay i'm thinking my support should hold i'm seeking thinking my support should also a stop loss away from this area should keep me safe and i believe this uptrend will continue and we can do this this is a nice pullback which is a discounted rate for me to buy sounds like a logical investment right as you invest that the prices go up you are now at 200 but it's going up really fast do i close it do i hold it do i close half what do i do what do i do this is where people get lost this is where people get lost there's no idea what to do because there's no goals so if there's no goals you know what happens it means the more the better if there's no goals the idea is the more the better you cannot satisfy that goal the more the better it won't work how many guys have felt that right it's horrible isn't it it's a horrible feeling because later on you're like i wasn't prophet what the hell because the mind is not prepared for why am i doing this i'm doing this to make money not all of the money all today i'm not going to make all my 10 millions today it's not gonna happen so why am i holding on forever is there no plans to exit am i not prepared before even getting in how i'm supposed to trade this thing the point is everyone is doing it as a trade and they forget i'm doing it for the means and this is where it all goes out of balance suddenly everyone's trying to become a good trader but no one joined the industry to become a good trader so why are we trying to become a good trader suddenly is it because you're in a group or some forum where you have to prove i'm also somebody i must show you what i can do it's a bad illusion to get stuck in right right so can we be honest do we get trapped into that ideology we are trapped into that thinking of wait i joined to make money i didn't join to show what i can do but along the line of all these things that we tell people oh what do you do for a living oh i'm a trader oh now i have to show them i can trade and make a lot of money screw them do your thing do your thing don't get stuck into i'm a trader so therefore i must show a big profit no who cares yeah exactly who cares what they think right you do you you do you okay now let's open up the charts shall we open up the charts a little bit let me show you a little bit i'm gonna go deeper okay and we're gonna go deeper here we go we might go five minutes over uh the one hour mark is that okay with you guys okay here we go i'm gonna share my screen okay here we go so i'm gonna move my chart out so you guys can see the chat all right so i'm in this trade right now okay i'm in this trade right now i have bought right here and last night right here okay now the trade is currently running for 1 200 okay there's a live account this is with interactive brokers this is not an mt4 nasty broker this is a real legit juggernaut if you ever research interactive brokers it is the largest broker in the world 10k minimum to get in fair enough and it's a pro account so there you go you can imagine what you want to imagine for the account size that's not the concern my concern is can you understand what this is what was done and why because that's what you need to fix as a traitor you need to think Navin if you teach me something i need to measure that with will it help me with my means not oh cool i can trade this but i'm gonna have to sit in front of my charts all day long i can't do that i can't do that you see then it won't work for you it won't work for you so you got to get the means right so one of the one of the things i want you to do one of the things i want you to do i want you to first take a moment today and think about on a piece of paper write down what you want to do as a trader okay we'll come back to this chart in a little bit i'm going to show you how to plan this out okay i do this for a lot of my students in our our courses i'm gonna teach you guys this technique okay you guys can see the circle all right perfect perfect okay so how do you build goals okay first you got to be real and you you are you guys are real with that i don't think any of you guys here are like no i shouldn't say i'm doing this for the money it doesn't look nice who cares who cares be real with yourself you're doing it for the money end of story that's okay that's okay by me you want to be materialistic that's okay by me i'm okay with that you know make money man come come we can we can hang out together make money it's okay but be a good person don't be a bad person okay all right here we go so it's for the means right okay now that it's for the means i want you to create a timeline and saying this is the beginning this is the end okay and this timeline is six months let's say six months one year whatever you want to give yourself and the end is i want to reach at least 5k in revenue okay on average okay when i say 5k per month it could mean maybe one month you made seven thousand one month you made four thousand but it averages out to around five thousand so far so good now you're gonna work backwards you're gonna give yourself small milestones and you wanna work backwards what does that mean in terms of dollar amount does that mean i need to put five thousand dollars in my account and then one trade come on baby come on come on come on oh five thousand dollars i'm good phew no please don't do that please don't do that you know it's gonna require a larger account to trade at that caliber right to trade at that caliber so you need to understand what does that mean does that mean you need a 50k account so you're doing on average 10 a month okay now you're being a little bit more reasonable okay you know why because the lower this is in terms of percentage the less risk you are putting on your account did you know that to do that same amount on a smaller account size you're including so much leverage that the chances of you losing increase higher same trade the chances of you losing becomes higher with the margin the margin calls the spread widening and all that stuff that you have to deal with you got to be very very careful not to mention the heart attack of that's 30 of my account wiped out in one trade that's not a good position to be in don't do that don't do that don't freak yourself out with numbers like that okay all right let's work backwards so i need a 50k account but i don't have a 50k account so i got to work my way up to that so i'm going to put in here that requires a 50k account and i need to be doing 10 a month now 10 a month if you say my one trade how much percent should i risk in one trade let's say one percent okay let's say one percent you want to risk per trade so let me take you to the charts let me take you to the charts here we go here we go uh boom boom okay you're on the chart i'm gonna show you the chart i'm i'm trading okay which was a swiss yen okay we'll look at it at the nc by the end of the webinar where it has reached it's more longer term play but you'll get the idea okay i'm gonna take you to the four hour chart so one percent which means if i've entered here and if i lose here how much money will i lose one percent right if my risk is one percent if this thing goes up till here how much money will i make one percent a little over one percent if it goes a little bit higher how much money will i make okay now i wanna put you guys in this perspective okay on the way up i have this resistance i have this resistance i have this resistance what are the chances of me getting up here the higher i'm aiming for the lower my chances the higher i'm aiming for the lower my chances therefore if i'm in the trade and the trade goes up to here or here and i'm up one percent or two percent you needed 10 as per your goal you've already done one percent really well take it run away do not hold on because you're trying to be a traitor your means are being satisfied start building that up get it clear in your mind why you're doing this don't hold on to look good what did we say in the beginning of the webinar is that normal can you do that in forex no so you see this move up here it pulls back get these prices what happens when it goes higher and higher and higher do you want to chase it up there do you want to buy up there no you can't it's not a stock stop buying it up there that means the trade is over you can't touch it anymore look for something else so far so good so going back to that idea bring you back to the chart uh here we go bring it back to the whiteboard sorry here we go i'm gonna draw a circle bam so you guys got the idea of work backwards build your timeline of how are you gonna do this think very carefully in your mind and every morning if you can before you sit down to trading remind yourself you are in it for the means you are not in it to look good as a trader so let that go let that go anyone who's praising you because you did a good trade i can be honest with you they don't really care they really don't care and their mind is oh can i do it that's it so why are you trying to please them there's no point just do it for your means that you need that you're needing to do it and stay true to yourself on why you're doing it so then you build it backwards now to get to the 50k account how am i gonna do it how many trades do i need to do at what percentage in what amount of time take it a step further back what what is the milestone prior to that what is the milestone prior to that what is the timeline that is reasonable to do it and if one trade is one r risk and your average trade is 1.2 or 1.5 are if your goal is only 10 percent of that you just need 10 good trades in a month 10 good trades in a month now i know people will start saying oh if i can get 10 pips a day i don't know what that means i i don't know what that means right does that make sense are you guys with me is everything making sense is like yeah all right now i know what i need to do not because of trading but because of the means okay so pop quiz really quick for all of you guys okay and i'll put on my uh chart as well and i'm going to give you guys a pick i wanna a trade that i've given my um my traders today to trade i mean is new zealand yen this is going to be a nice buy coming up okay this is going to be a nice buy coming up uh just wanted to give you guys a little pick on that do not go all in on it this is my opinion that it's going to go up whether you want to follow it or not that is up to you swiss yen i'm already in dubai you guys have seen it i'll put up my chart in front of us and we'll see uh i don't know we were at 1100 when we when we were looking at it before now it's at 1 300.
now let's go deeper into your pop quiz ready here we go so a quiz for you you're surfing through youtube and i'm showing you hey man listen sorry hold up hold up i'm trying to do this well i'm trying to act this out really well all right listen dogs you know i drive around my ferrari look at all this cash i got from my broker because apparently my broker pays me in cash i don't know which broker does that by the way but i got all this cash wads of cash in my hand not from drug dealing if you want to learn how to do this look at this chart i have right here 300 pips in one trade do you want to learn how to do this you got to buy my course what do you do you simply ignore it you run away because it will not line up with your means it is wrong it's pulling you in through the illusion but it won't work it won't work okay so far so good okay next thing next thing if i say you got to do 50 on your account in one month or i am doing 50 on my account in one month would you say i'm a conservative trader or an aggressive trader aggressive aggressive trader which means which means if i teach you how to do it what are the chances of one month you do well but the next month what if it's not so well how are you going to pay the bills not for me i'm sorry can't do it too high risk maybe you can do it too high risk for me i can't do it it doesn't go with my goals of my means i can't stay stable with it good all right next thing next thing to become a good trader for the means what do you need what do you need you got to build up your skills you got to build up your skills you need the right education you need to understand the market you're in how many guys when i started the webinar and i just explained the simplicity of what kind of market you're in based on forex versus stocks how many guys right there like i've been in this industry for so long it never came to me that that is a problem to let it run for so long crazy right did you know if you ask this question to the average person they don't know it they actually don't know it and yet they're trading it every single day as if it is their freedom unfortunately they're stuck in the illusion right so you got to build up your knowledge because who are you interviewing against everybody you're interviewing against everybody so do you ever have to go to the office maybe not but will you be working you will you will don't kid yourself you will be working but the money is good so take it just take it as it is it's okay i'm working right now anyways at least i'll work in something i like that pays well just take it is there freedom where you can just do whatever you want because you're you're a trader and you just need a nice iphone 12 or something and you're like good i'm good all i need is a fancy disc all i need is a fancy computer the highest speed internet no no you don't need any of that stuff you just need to be calm and stable about it okay all of this begins with a solid foundation in your education what are you doing why are you doing it and how much money can you make from it and can this now officially replace your current income then you go on to the next goal and you make that timeline for that now i'm not looking for income i'm looking for wealth how can i do this to invest in stocks also that will pay me dividends and i can hold it for a long term while i trade on forex to make day-to-day income ah now we're talking wealth how do we go into the wealth side of things because remember riches can be taken away overnight wealth cannot be taken away did you know that you can become a millionaire and tomorrow you're on the streets but if you're wealthy you're not going down it just doesn't happen okay does that make sense okay so there's a difference between rich and wealthy wealthy is people who own stuff things that give them money things that pay them money trades like every trade that you do it's paying you money and then if you have stocks that that you're holding and it gives you dividends and it's paying you money you're becoming wealthy okay riches means i did one trade made a lot of money look at me i'm rich tomorrow the trade is wrong look at me i'm poor that's the difference between rich and wealthy make sense it's like it's like money 101 by urban forex okay all right so guys for those of you guys who do not have the mastering price section or you would like to learn from me directly if you feel i can get you there just like all the 75 percent of the people in the room that have trusted me to make sure you get to the next level you can pick up the mastering price action 2.0 as your starting base of try to understand where how you need to trade the markets and then we'll go deeper and deeper and deeper but let's start you off on the right foot so here's what i'm going to do for this webinar exclusively it is an eight-week program where i take you step-by-step week after week on what to do how to do it what to look for and i'll also have an announcement for all of you guys so for that eight week program it's a hundred and forty nine dollars but what i'm gonna do is i'm gonna open up the doors today for all of you guys in this webinar to join at the christmas rates for 99 so if you want to pick it up you can head on over to www.urbanforex.com/webinar i'm going to type it in the in the chat for you i'm going to make my announcement in a little bit www.urbanforex.com/webinar there you guys go okay so there you'll be able to pick it up for
uh 99 and you guys will be able to take take it on a discounted rate and i those of you guys were asking about the Mastering Price Action 1.0 i highly recommend it in fact in my mind it's a must it's a must if you really are serious about becoming a decent trader and want to know anything about trading and do it the right way and not just do the gimmicky stuff do it right do it right you know do it right so so here's so here's the thing so that's the one announcement i wanted to make for you guys this is a special offer for all of you guys but for the rest of you guys who are in the course already ready honey guys here had requested that uh i show more trades on instagram because i think last year for three months straight i showed trade every single day right we're gonna bring that back okay we got a lot of requests for that we're gonna bring the we're gonna bring that back i can't obviously you won't see beautiful backgrounds and stuff as i can't travel so much you know due to covet 19 but i will try and bring that back for you guys so you guys can see the trades i do the next thing we are now developing an app for Mastering Price Action 2.0 members to be able to see the trades we select for you to say you want to focus on this pair we're going to start building that up there is going to be a new app coming out just for that now to test that version first we're gonna we're gonna first do a pre-release only for the members only of the Mastering Price Action 2.0 where we're going to try out and test out the beta version of
we're going to put it on your browser for all of you guys whenever you guys can log in into the back-end on urban forex we're going to tell you here are the things you want to watch out for today these are the cheese trades coming up let's see how much money you can make we're going to start to step out and then if everything goes well with it we'll develop it into an app and get it out for you guys so that way you have it on the go on your phone again it is not on the go on your phone because you're free okay you're not freedom that way it's just convenient that's why but it will be available uh as members only as well so you can pick up the app if you don't want to pick up the app it's inside your course anyways so not to worry about that the course does not get taken away from you it is lifetime for you guys as always as i've mentioned uh look out for my announcements for that so there are some people who have been invited to the Mastering Price Action 2.0 private webinar tomorrow i look forward to seeing you guys in there as well not everyone's invited based on where you are in the course tomorrow we go deeper into the stuff uh and we'll talk about uh what you need to learn how you need to level up cool all right guys thanks a lot for coming in until next time guys thanks have a nice day again if you guys want to pick up the MPA 2.0 today for those of you guys who don't have it it's www.urbanforex.com/webinar keep an eye on this CHFJPY and keep an eye on NZDJPY these are decent trades see how they perform over the next 24-48 hours cheers guys have a nice day bye for now