I’ve said it time and time again, that if you have a winning strategy (including this site’s recommendations), you can take pocket change and turn it into a substantial amount of money. While this is very much possible, it does require time. And in life, if you’re not spending money, you’re spending time. More than not, you’re doing both.

Spending time is something we do whether we like it or not. We can stop spending money whenever, but time will keep on going with or without us. As a result, people want to leverage their time as much as possible.

A common thing I hear from traders is that they do not feel they have the time to trade. When you feel rushed in trading, this can lead to disaster. Instead of letting trades come to them, they force the trade. They enter the market and take chances. Essentially, they have become a gambler.

Trading takes time, especially if you are serious about building sizeable wealth. It’s foolish to think you can turn wealth overnight. So while we cannot control the passing of time, we can control how we spend it.

Perhaps you are a family man with a full time job. It is difficult to juggle the time constraints of work, as well as the obligations you have as the head of the household. You know you want to pull yourself ahead of the financial game, but you fear you do not have any time at all.

Focus on a longer time frame. It’s a common error for people to think that if they have little time on their hands that they must scalp. While scalping can take you in and out of the market in a small amount of time, it does take a lot of chart watching to find set-ups. This is time you might not have.

If you have time throughout the day, watch the 4HR charts. You’ll only need to check the charts at most 8 times a day. Perhaps you do not have the means of checking charts while at work. That’s fine. There’s still a solution for you. Move up a timeframe and focus on the daily charts. If you’re trading off the daily charts, it’s quite feasible to spend 15 minutes a day and become a profitable trader.

When trading off of larger time frames, it’s quite possible that you could go an entire week without entering a trade. You know what? That’s entirely fine. It is not your job to be in the market. It’s your job to monitor the market. And when you see an edge in the market, that’s when you enter.

The trade off is that while you get fewer trades, the trades you enter will allow you larger pip gains. As long as you adhere to proper bankroll management, pay no mind to having larger stop losses.

So go out. Enjoy your family. Focus on your career. Just allow yourself 15 minutes a day to sit down and study the charts. Be joyful in the knowledge that you can obtain a secure financial future for your family in your spare time.

Too often traders will jump from one system to the next. They do so in search of the Holy Grail. Despite being told by everyone, that the Holy Grail does not exist, they still want to believe it does. What will commonly happen is that once a new system is learned, the new trader will adopt the method and run with it until they begin to experience some losses. They clearly are expecting profits week after week, and once something turns sour they run off and look for another system. This inconsistency is a leak in a trader’s bankroll. It’s a darn good thing the FX Trading Network helps curb the need to bail. They have provided their recommendations of systems that can stand the test of time. 

Now some of those systems, that did not get a recommendation, flat out are losers in the long run. However, if one looks viable it is important to develop a level of patience and test the system first. Too often traders will start trading a new system live. And when it goes sour on them, not only are they in pursuit of the next system, but also they lost money in the process. So instead of diving in, demo trade the system first. And demo not only through profitable times, but unprofitable times as well. No system is right every time. Period. And if you’re being told that, you’re most likely being sold a pile of trash.

Demo trader the system for at least three months. This will cover an entire quarter of a year and hopefully during that time you will have had an opportunity to test the system through the various faces the market can present.  I know what you’re thinking. Three months is a long time. Well… this is wealth we’re trying to build here. And it most certainly will not be built overnight. You need to develop a strong foundation. And you cannot develop a strong foundation if you do not have a trading method that is profitable.

Be sure to document each trade you make in the system. This will give you an opportunity to better understand the system you are attempting to trade. Education of the market is important. As you gain experience, there will be times when you would care to ignore what the system says as you have a sufficient feel for the market. However… that is far down the road of experience. For now stick to the system’s rules, one of those rules should include, once again… Patience.

Another important reason to record trades is if you desire to test multiple systems at once. When documenting each system you will be able to view each system clearly. By cramming too much into your brain without an outlet, you can easily become overwhelmed especially if the two systems are giving conflicting signals.

After you have selected a system, and have demo traded it for three months, should you make a determination if it’s a good strategy or not. Do not just look at one day’s results or even one week’s results. Perhaps the market wasn’t agreeing with the system at the moment and it needed to work out whatever it needed to work out for the system to retain profitability. Give it time. The system will reveal itself soon enough.

And once you determine if the system is profitability, only then should you put your money to work for you and begin your journey to build serious wealth. Have a look at what the FX Trading Network has recommended and see which system is best for you.

Forex is easy and fast money.

Perhaps you are foolish enough to believe that. While Forex can reap wealth, it is not done fast nor is it done easy. The task itself of creating wealth does get easier, however it is only through experience and knowledge does that occur. Many traders are lured into Forex Trading with dreams of fast wealth. They expect to deposit $100 into an account and be a fulltime trader within a year’s time. Wealth takes time. And to endure the test of time, one needs patience. Patience, unfortunately, is something that is ignored by a lot of new traders.

With the advent of high speed Internet and high-powered computers, one can get into the market and out of the market in lightening fast speeds. Gone are the days when you only traded off a daily chart, mind you a chart that you literally drew with a paper and pen. There was no mouse button to click. Rather one had to actually pick up the telephone and call their broker.

As a result of high speed trading, scalping the market has become a popular trend. It can reap money fast, sometimes in a matter of seconds. New traders fall into the idea that they can adopt a scalping mentality. After all, they are excited to enter the market. And the need to be in the market results in overtrading. Scalping very much is a viable form of trading. However it should be reserved solely to those that understand the market and truly know how to tame the wild beast.

Patience is generally the last thing a trader learns, and sometimes they do not even bother to learn at all. However it is the one attribute that truly defines how profitable you can be in the market.

Allow me to illustrate patience.

Picture a battlefield. On this battlefield you have two soldiers. One soldier is young, fresh, and new. He’s eager for the fight. When he took a stroll through the armory he picked up every weapon he could. Armed to the teeth he was ready for battle. Charging hard into the field he pulled every trigger possible shooting at anything that moves in hopes to return home unscathed and with the spoils of war.

This young soldier is very much like a new trader. Excited to make a trade with dozens upon dozens of indicators at his disposal. Eager to trade the market, the new trader will jump in and out of the market constantly. Sometimes the new trader will stay in a trade too long, and sometimes pull out at the wrong time. It’s a lack of patience that a lot of times will result in the new trader blowing their first account.

Now lets examine the other soldier.

He’s crouched low under hidden in the bushes. This soldier knows this is in a safe place as he allowed himself time to survey the battlefield before entering it. He was able to see where he could sit and wait for his moment to strike. And in more times than not, with his experience, he knows that he is likely to be successful. In his hands he holds only one weapon. It’s a trusted rifle that he’s used time and time again. Sure he left behind a grenade, a rocket launcher, and dozens of machine guns along with the rest of the weapons in the armory. But he only needs one. It’s a trusted weapon. One that he has used for years and he will feel as if it is just another part of his own body.

This experienced soldier holds similar attributes as a seasoned trader. There is no need to have a chart full of indicators. He really only needs one, maybe two to be able to determine market movement. Also, instead of wildly entering into a trade, the seasoned trader will step back first and look at the big picture. He’ll know exactly when to enter the trade and when to exit even before entering the market.

So while the young soldier is running wildly onto the battlefield making a mess of things, the experienced trader holds his rifle up and prepares to shoot. He is patient. He is willing to wait as long as it takes until he knows he is able to take a single shot and wipe his target out.

The young soldier is leaving himself exposed on the battlefield. Tons of expensive ammunition is being wasted and he has no idea as to when he is going to exit the battlefield. He only knows that he is now on the field and there’s no sense on leaving the field until he has some sort of victory.

Eventually the young soldier falls into the sights of the experienced trader. He’s far enough away and hidden well enough that all the stray bullets are staying clear from him. Hours upon hours go by as the experience trader waits. He doesn’t want to miss. The young soldier has now grown tired of running around on the battlefield. And worst of all, nearly all of his ammo is spent. Eventually he turns around and starts to head off the battlefield in defeat, however he never makes it. The experienced trader pulled his trigger.

Patience.

Learn it.

Live it.

And watch your account grow.