Who is Nial Fuller?
Nial Fuller is an Australian price action trader and trading mentor who specializes in teaching aspiring traders to trade the Forex market with price action based strategies. Nial started trading financial markets at just 16 years of age while still in high school. He was hooked very quickly on the opportunity and excitement of being a professional trader. After studying many different trading systems and strategies over the first two years of his career, Nial eventually was led to the simplicity and effectiveness of price action based trading. His trading subsequently started to progress quickly and he soon was consistently profiting in various financial markets.
What does Nial Fuller stand for?
Nial Fuller is a bit of a “maverick” trader in that he isn’t afraid to do what the masses of traders won’t; like wait for a week or more for the “perfect” trade setup. He stands for trading with simplicity and for helping other trader’s trade in a similar manner. Nial’s aim is to spread genuine insight and honesty in the Forex trading world, which is generally plagued by disingenuous scammers and people selling trading systems who are not successful traders themselves. Nial stands for dispelling the myths and lies spread around the web about Forex trading and what’s all about by trying to speak the truth about the reality of trading and what you can expect.
How is Nial Fuller different from other Forex educators?
Nial is clearly different from other Forex educators in that he has a natural knack for both teaching and trading, and this is evident upon watching one of this Forex trading videos. Also, he teaches simple price action based strategies while most of the rest of the Forex world is promoting indicator and software-based trading systems. Nial believes in teaching traders “clean” trading strategies that allow them to make sense of the natural price dynamic of a market so that they can successfully trade for themselves no matter what condition the market is in. He is not trying to sell people some two thousand dollar trading product like many other educators, he is only trying to share his wealth of price action trading knowledge as cheaply as possible.
What can you learn from Nial Fuller?
You can learn effective price action trading strategies from Nial Fuller that are simple to understand and simple to implement. You will not find any “smoke and mirrors” in Nial’s trading strategies, just straight forward and time-tested price action – based strategies that provide you with a framework to make sense of the ever-changing Forex market. Nial teaches traders the exact same price action strategies that he has used successfully in the markets for years. You will learn not only a trading strategy, but a way to think about and make sense of the market’s movements each day. This will work to instill a deep understanding of how markets ebb and flow and how to take advantage of the natural price dynamics that occur in them, this way you can trade for yourself for a lifetime.
Nial Fuller - Trader, Investor, Entrepreneur & Life Coach
Nial Fuller - Trader, Investor, Entrepreneur & Life Coach
Saturday, November 19, 2011
Friday, November 18, 2011
Become a Better Forex Trader by Doing These Five Things
Become a Better Forex Trader by Doing These Five Things
In this brief Forex trading lesson I want to give you five
quick-tips to become a better trader now. I am not saying that you will
instantly make money if you do everything discussed here, but I am saying that
from my own personal trading experience, the five things listed below will make
your journey to successful Forex trading a lot easier and quicker:
1) Only risk money that you can TRULY afford to lose
Perhaps the number one thing you need to understand about
Forex trading is that you really should never trade with money that you are
totally comfortable with losing. In my experience, beginning traders often fund
their trading accounts with money they should not be trading with. I have even
had some of my students tell me via email that they’ve funding their trading
accounts with credit cards because they had no cash. This is just not the right
way to get started trading the markets.
You need to approach the markets from a totally objective
and calm mindset, and if you are using money that you shouldn’t trade with, you
are naturally going to get emotionally over-attached to every trade. So, my
first tip to become a better trader is to make certain that you’re only using
money that you are 100% OK with losing in the markets, and be sure that you are
100% OK with losing the amount you have risked on any one trade, because any
trade could end up a loser.
2) Stop trying to control the markets; instead control
yourself
Next, you need to stop trying to force your will upon the
markets and instead learn to control yourself. Traders who over-trade and
over-leverage, or who meddle with their stops and targets after entering a
trade, are indirectly just trying to control the market. What many traders
don’t understand is that you cannot control the market, it’s impossible; the
only variable you can control in trading Forex is yourself; your own thoughts
and your own behavior are the only things you can control in the market. Until
you fully accept this fact and actually begin to control yourself instead of
the markets, you will not make consistent money. The markets do not know you
are alive and they do not care, that’s not meant to be harsh, it’s simply true.
3) Learn to trade the daily charts first
The daily time frame is my number one time frame to trade
and I consider it my “anchor chart” because I base the majority of my trading
decisions off of it. I feel that time frames under the 1 hour chart are simply
too noisy and full of “random” price movement to be effective. Many traders get
caught up in a game of trying to “figure out” what is going to happen by
looking at 15 minute, 5 minute, and even 1 minute charts. What they are really
trying to do is control the market again by believing they are going to somehow
figure out what’s going to happen via looking at more data or more price bars,
while forgetting that lower time frames are inherently less accurate than
higher ones. In my opinion the daily charts give the best combination of trade
setup quantity and accuracy, and I’ve been successfully trading off the daily
charts for years.
4) Learn to trade with the trend first
I am always somewhat surprised at how many traders try to
fight the dominant daily trend of the market by trying to pick tops and
bottoms. It has been proven time and time again that trading with the trend is
the most profitable and highest-probability way to trade, yet amateur traders
all over the world try in vain to fight the trend. If you want to become a
better trader right now, perhaps the thing that will help you the quickest is
to simply learn to trade with the trend and stop trying to pick major market
tops and bottoms, because it really is a fool’s game.
5) Learn and master an effective Forex trading strategy
All traders need to have a high-probability trading edge to
enter the market with; otherwise they might as well just enter randomly. The
problem with trading strategies is that many of them are too complicated or are
too inflexible to be worthwhile. I have always used and been a proponent of
trading with simple price action setups because I feel they provide the most
accurate and simple trading strategy to navigate the markets with. Whether you
trade with price action or another strategy, you need to make sure your trading
strategy makes logical sense and is not too complicated and also that it really
provides you with a high-probability edge in the market.
Thursday, November 17, 2011
Should You Learn To Trade Forex From a Trading Mentor
Should You Learn To Trade Forex From a Trading Mentor?
Learning to trade is something that many traders go about
doing with no formal assistance or education. This is a very curious fact when
you consider that in almost every other profession or skill in life people
learn best from mentors and from others who have already mastered the skills
they are trying to learn. So, the idea that many traders think they are better
off learning to trade with no outside help; is curious at best and financially
devastating at worst.
You may have heard of the “Turtle Traders”, they were a
group of people selected from a newspaper ad in the 1980s off a bet between
Richard Dennis and Bill Eckhardt because they had a debate over whether or not
anyone could learn to trade given a set of trading rules to follow. The results
showed that a simple set of trading rules could indeed be used to turn people
with little or no trading experience into very profitable traders.
Now, a key point from the Turtle Traders’ experiment is that
they had an effective trading strategy to follow designed by Dennis and
Eckhardt, and they had everything laid out for them in a very easy to follow
set of trading rules. The markets were trending well at the time and the Turtle
strategy revolved around trend-trading. The point is that you need to actually
learn a strategy that is truly effective from a mentor who is currently using
the same strategy effectively. You can’t just go out and buy the first forex trading course or training program you see, you need to dig a little deeper to make
sure it’s legit.
The trick to learning to trade successfully from a mentor
lies in finding a mentor who is actually genuine and who is truly a successful
trader teaching an effective trading strategy. Some of the characteristics of
an effective trading mentor include the following:
·
Their trading training is not over-priced; you
can find some good Forex trading training courses for under $500 on the web.
Most of the ones over this amount are probably over-priced. Anyone who truly is
a successful forex trader and who is offering a genuine product won’t need to charge
thousands of dollars for their services.
·
They will put their name and reputation on the
line. A genuine Forex mentor will make themselves known and provide contact
details. If you can’t put a face and a name with the trading training material
you are considering buying, it’s likely not written by anyone genuine. Genuine
and successful trading-mentors do not feel the need to hide from the public.
Forex trading is not a science and it’s not something that
can be totally mechanized. Therefore, there is some discretionary element to
it, and if you look at any of the most famous traders and investors like George
Soros or Warrant Buffet, you will find they are not totally mechanical in their
approaches. Thus, it is erroneous to believe you can trade successfully over
the long-term from a mechanical approach or without learning how a successful
trader navigates the markets. To learn more about learning to trade the Forex
markets, check out my price action trading website.
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