This is why 99.99% of traders incur losses over the long run.
When you look at simple things in your own way, you see what other forex traders cannot see in chart.
Let’s read some important quotes:
“Simplicity is the ultimate sophistication.” – Leonardo da Vinci
“The simpler you can make your trading, the more robust and profitable it will be.” – Mark Douglas
“If you can’t explain it simply, you don’t understand it well enough.” – Albert Einstein
Most successful people in the world began exploring simple things that others never considered.
In my job, I have seen many people make easy money in forex using the simplest techniques imaginable, and their profits are huge!
For example, I watched a wealthy man who kept trading during the Asian session and lost money for a three-day streak. Each time, he doubled down on his deposit, and on day four he made four times his total deposit!
I have never seen any forex trader make money in forex by doing complex things on their own; teams can achieve that because each member performs simple tasks that, together, create a complex strategy from a broad perspective.
Your mind is the most powerful reinforcement AI model that can remember billions of situations on a forex chart in a simple way. If you try to increase the data, you will definitely be unable to enhance that AI, but with less data, you can improve its performance over time.
Business Example:
- Apple (Before vs. Now): Apple became extremely successful when it narrowed its focus to a few high-quality products, like the iPhone, MacBook, and iPad. Before that, in the 1990s, Apple had a bloated product line, and its business suffered. Once Steve Jobs cut down the lineup and focused on niche, high-quality products, profits skyrocketed.
- Ferrari vs. General Motors: Ferrari produces a limited number of high-end sports cars, specializing in luxury and performance. Their profit margins are much higher than General Motors, which produces everything from budget cars to trucks, diluting focus and reducing profitability per vehicle.
- Rolex vs. Fossil: Rolex focuses only on high-end luxury watches and is one of the most profitable watch brands. Fossil, which makes all kinds of watches at different price points, has a much lower profit margin.
Key Takeaway:
- A specialized trader focusing on one niche setup is like a high-end, niche company.
- A trader trying to trade everything is like a company producing various things with lower profitability and efficiency.
Final Thought:
Simplicity is the cornerstone of long-term success in forex traders life. Embrace basic strategies, refine your approach, and let clarity guide your decisions. Focusing on what truly matters can set you apart from the majority.
