hi I'm Scott Shubert with tradingmastermind and today I'm going to show you how whenever you're trading Forex orcrypto currencies or commodities or gold how you can note every single time theexact entry price for whenever you're going to enter a trade and exit a trade so imagine that you're in an elitetrading group and in this group you're learning how to trade and you alreadyknow that some of the other members have reported that they're getting results ofsomething like 20% increase per month or 50% or even a hundred percent increaseper month and by the way these hypothetical scenarios are not typicalresults because typical results are to fail and lose all your capital but justimagine that you're in this group and what would that be like because a lot ofpeople have created in their mind a kind of a glamorous fantasy about what theythink that it's like so you go into this group and then someone's calling outtrades by the euro dollar 1.
1 449 by now and everybody's getting in getting outthen they're getting into getting out and they're getting profit andeverybody's going this is exciting well that's not exactly what it's likein reality forex trading is kind of exciting but it doesn't quite conform tothat glamorous fantasy so one thing that can definitely help you to get morealigned with reality so that you can use that in your trading is and I'msurprised that more people don't do this is to look at a chart and when you're inthe business of forex trading this is a very useful thing to do so you look at achart and then you just notice how many times as a market form some kind of aturning point where it's going in one direction and then it turns then it goesin the other direction and on any timeframe even short timeframes when does it actually do that how many times does it actually formsomething that could result in profit and also just be aware from a basiccommon sense point of view what has to happen for a person to enter a trade andthen get profit from that trade well in order for someone to enter a trade andget profit from that trade the market would need to be going along in onedirection and then turn go in a different directionand then that would have to be identifiable then it would have tofollow through with that move like if it turned and then it didn't follow throughcould you get profit from that no you couldn't get profit from that or if itif it's just always going in one direction and you just jumped in well weall probably know that if you apply that as a strategy from a common-sense pointof view you would probably know by now that if something's just moving you justgot in then it will probably reverse right after you get in so logic wouldtell you that there is something that would have to happen in order to causeyou to be able to get profit from a trade so this is a basic common senserealization that has to be clear in your mind before you move forward and it issurprising how a lot of people never quite get this basic common senserealization clear in their mind about what needs to happen in order for you toget profit from entering a trade so when this happens what specifically is itthat happens is there some kind of a visual phenomenon that is identifiableand recognizable that has to happen in order to enter a trade and then noticewhen you look at a chart how often does that happen and how many times did thathappen in the previous week might want to knowis what time of day it happened and start to become aware of that so let'ssay you're working with someone who is a trainer or a mentor then this phenomenonhappens and then they call out the entry price 1.
1 for $4.
99 how would that information be useful toyou would you go and get in at that price would it be possible for you toenter in that price is there any way that you could use that information thatwould help you in your training oh so no there's not so that information iscompletely irrelevant there's no way that you can get in at that price sowhen is the best time to enter a trade and at what price the time to enter atrade is when you visually recognize that an entry has formed and the priceto enter is whatever price it is at that time this really needs to be clearbecause a lot of people don't have enough common sense to realize thatthat's true and then they what's happening is they're thinking aboutsomething that's not related to whether they're going to have profit in thetrade or not and that is the digits of the price so here is what's mostimportant and completely obvious that all traders need to know from day one isthat the price to enter a trade is the price whatever price it's at when yousee an entry and what specific digits there areis completely irrelevant just random series of digits even thinking aboutthat random series of digits is not justunproductive it's actually a mental strategy that the subconscious mind mayput up as a block to take your attention and put it on something that's just notrelated to whether you should enter a trade and in the trading world you cansee that people are doing this all the time they're taking their attention andthey're putting it on things that aren't even related well here's this thing andthey're looking at things or here comes up to this 200 moving average you're notall these things that they're looking at and it may have nothing to do withwhether there is an entry or not but they're constantly putting theirattention on it and thinking that there is some kind of a connection and italmost becomes like a superstition it's not even related what what is the randomseries of digits that happens to be the price have to do with anything itdoesn't have anything to do with it so why would you even think about it so onereason that so many people sign up to get trading signals or they look forproprietary indicators or software is because they don't really considertrading to be a business and there you don't they don't really start off withthe mindset that it's a skill that is worth putting in the time and effort tomaster so people who start off with a mindset that this is a business and Iplan to own a business and the steps that I have to go through is first Ihave to gain this skill which is a very unusual rare skill that very few peopleget after I develop that skill then I will have a business most peopleconsider trading some kind of a hope to get lucky kind of a gambling thing andthat's why it doesn't work because first you have to develop a skill afteryou have developed that skill then you will be able to start having a businessnow when you get involved in actually learning to read the market andmastering the business of trading the process is completely different firstyou're going to learn certain principles that are true about the market andyou're going to discover that they're true and this is part of how you readthe market the market really does form turning points that you can read you canidentify and when the market is coming to a point where it's going to form aturning point you see that coming for a long time in advance no matterwhat timeframe it's on you see it coming before it actually happens then it getsto the point where it's actually starting to form and then you make adecision that's what trading is about is about making decisions and taking actioneven though you might misjudge something you check all of the confirmationfactors you could still misjudge something or you could be completelywrong and you're okay with that because if you have developed a skill the skillis to be able to identify high probability turning points a highpercentage of the time not to be able to do it 100% of the time but if you can doit a high percentage of the time then you have mastered this business and youwill have continual profit if you do that so after some time of study andpractice you could get to the point where you may have mastered this skilland be able to enter trays with high probability that turn into profitabletrays a high percentage of the time so now that we're clear about what is theexact entry price that you should enter a trade in forex or commodities or anyother market you're going to be one step closer to mastering this skill withouthaving any ridiculous nonsensical kind of beliefs and now you understand thatwhat you really want is to be able to totallythat skill to be able to identify those turning points to recognize entries andwhenever you see one you will make a decision you enter a trade and the exactentry price will be whatever random series of digits that happens to be atwhen you choose to click on your mouse and step closer to actually masteringthis lifetime skill that will enable you to own a forex trading business or atrading business of any market because it's about having that skill and it isso common for people all people including myself to have all kinds oflimiting beliefs and one of them is that well I don't actually believe that I canown a business but maybe I could get a job with a managed fund and that's oneof the next things we could work on that if you can change those limiting beliefsyou will realize that no matter how much capital you have available to start withif you have that skill and you will be able to achieve any kind of financialgoal eventually it's just a matter of how much time then if you don't havethat skill you will never be able to have any kind of job or or businessrelated to trading you are welcome to enroll in our training program and seewhat it's really like and prove it to yourself ok so that's all for now andI'll see you in the next video.
