I am often asked What type of Forex Trader are you?

I see this question all the time trying to be answered by experts and they often try to differentiate themselves using terms such as Im a fundamental trader or Im a technical trader or Im a Day Trader. I just dont get it. I only want to be a successful forex trader. One that makes money predictably, month after month, year after year. Isnt that the type of trader everyone wants to be? Why do we need to put a tag on it?

Show me a person who can make 250 Pips every month like clockwork and I will show you a successful forex trader. Seriously. Because success is about consistently building wealth. First rule of wealth creation is to ensure you keep your capital. So that is the main game.

For me to become a successful Forex Trader I have to be able to set a goal, achieve it with confidence and consistency and with a minimum of risk and stress. Keep it simple.

What I have done and recommend what everyone does is learn how to read the markets and read charts so that they tell you a story that has depth and meaning. Then develop a system that works and hone that system. I hate how some guys out there are trying to flog a new system

every other month. For me to be a successful trader I want to have monotonous boredom. Yes, I am a Boredom Trader. The new tag.

Do I consider fundamental economics: Yes?

Do I research and understand technical indicators: Yes?

Do I look for consistent and reliable price patterns: Yes?

Do I understand and recognise the mechanics of Price Action: Yes?

Can I recognise particular candlestick patterns on various time frames: Yes?

Etc Etc

I do all of those things and more. But over time I have developed one, boring system. I never get complacent, I never lose my patience or my discipline. I never look for excitement. If I want excitement I can do a 1000 other things to quell that need.

So the material I publish on my website has a lot to with how I have learned to read the markets. I have a friend who has a brilliant mind and is a successful marketing consultant. He says this to me all the time: Drew, the only marketing genius, is the market itself. Now this applies so aptly to the Forex Markets. In other words I realised not to form an opinion based on assumptions. I learned how to understand the global market battle between bulls and bears, fear and greed and therefore was able to understand how to act in accordance with the money flow. Because in any market, money flow determines price.

I implore you to continue your learning journey to create a learning experience of your own. There are more and more low cost, high quality training materials out there. By all means follow along with my trades but learn the dynamics of the markets and develop your own intelligence.

Whenever I come across information or websites that I think provide a great learning tool for traders then I will link it on my resources section. If you come across some information and want to recommend it to others then feel free to send me a link and I will gladly check it out.