Monday August 17, 2015 - 11:19:42 GMT
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The Right Advice Can Make a Real Difference
One of my interests outside of forex trading is playing tennis (which I did actively for many years) and now I avidly follow the professional tennis tour. Obviously any player on the ATP tour is highly talented and able to the play the game at a very high level.
Notwithstanding this fact, it is quite rare these days for the elite tennis players not to have their own tennis coach (and some even have their own “team” of helpers around them). The player is nearly always better than his coach but a coach is able to assist the player nonetheless by adding value in many different ways. For example, from a psychological view point, a coach can help his charge to “keep his head” in the right space, to deal more effectively with recurring game pressure situations and to provide objective playing guidance.
Coaches avidly scout out the competition, analysing their strengths and weaknesses, devising tactics and strategies for their players that will help them combat opponents. Practice sessions with the coach are important for developing battle hardness and post-match reviews from a focused and knowledgeable eye provide important insights that enable the player to make improvements the next time he plays. These are just some of the services and skills a coach offers the player.
Likewise with forex trading: While it is the trader who must “pull the trigger” and is ultimately responsible for his own trades, assistance from a professional trading advisor can greatly assist the trader’s performance over time. Obviously, traders are wise to obtain access to the best trading resources which they can afford in their quest to “conquer the markets” and one such resource is expert advice from a seasoned trading professional.
Just as a top tennis player listens carefully to the advice of his coach (yet it is the player who ultimately plays the shots), traders are able to utilise whatever parts of the expert advisor’s advice they believe to be most appropriate and relevant to any given trading situation, in order to maximise their trading outcomes.
Of course, there are many forex advisors who promise plenty and talk themselves up “big time”. As a rule of thumb, whenever you hear such self-promotion, it is prudent to be a little sceptical. Those forex professionals who have been in the game for some decades and have experienced the “slings and arrows of outrageous fortune” more times than they care to remember, are deeply respectful of the market and grateful for whatever success they have achieved; they are not so quick to “pat themselves on the back”, having learned the value of humility.
This year marks my 30th anniversary as a full-time forex professional. Whilst in advising my subscribers (who range from some of the world’s largest banks to novice individual traders the world-over) I may often be able to provide substantive assistance in maximising a trader’s overall performance, ultimately it is the trader who must secure his own profits.
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Disclaimer: Max McKegg & Technical Research Ltd accept no liability whatsoever for any loss or damage that may result, directly or indirectly, from any forecast, comment or opinion, information or omission, whether negligent or otherwise, within this report.
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Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
