Need help becoming profitable? Watch this interview, where Jarratt reveals THE EDGE, which got him #2 ranking: http://www.jarrattdavis.com/forex-course
Every day I post my analysis of the market, suggested trades and for premium members I also notify of trades in real time and I am on call via the chat room and webinars whenever the markets are open, the reason for this video is that allot of people think they can simply follow my trades and make money that way.
This is a bad idea for two reasons, firstly; if you do become dependent on me or anyone else, if say I decide to retire or give up doing what I’m doing for any reason, than you guys are going to be in a situation where you’ve paid out that money and you haven’t got anything back.
Essentially you’re stuck in the same position where you started which is not really knowing what to do and not really knowing how to trade the markets. So it’s very important just from that aspect that you not only follow me but learn from me as well and essentially transfer all the knowledge and experience that’s in my brain to your brain as quickly as you can.
Now as for the second reason which is actually the most important reason, purely because each trader is different it is unwise to blindly follow my trades. For example I’ll get into a position on a currency pair that I’m really confident on and if it goes against me, I’m not going to let myself get stopped out I’m going to hold it.
To the extent where allot of the time if a trade continues to go against me I’ll actually get in on another position so if I’m buying and the price continues to drop I’ll buy again, I’ll average into the market several times so that my losses are at a few hundred pips at that point, allot of people get scared, allot of people aren’t cut out for that, they get nervous, they’re simply not used to trading in that manner because trade fundamentals its very different to trading technical’s, which is all about risk/reward you place a trade you place a stop loss it’s all fixed it’s all mechanical etc.
For someone who is used to trading like that for them to try and trade like me is very difficult to adapt to the change unless you’ve absorbed the knowledge and built the skill and followed my methods for a significant period of time until you get used to it, it’s very hard psychologically as a way to trade.
I’ve had premium members in the past who’ve simply tried to follow my trades they've followed me for so long the trade has gone into deficit and they have lost confidence closed the trade and after a month they’ve ended up with minus pips and I’ve ended up with several hundred pips in profit.
This happens because basically if you’re not cut out or not tuned into the way I trade it’s never going to work out simply following me.
Basically the key reason for me to do this is to empower people to become independently profitable so that they don’t need to follow me anymore, rather than relying on my trades and analysis every day they can make their own analysis from the knowledge I have passed on, incorporate their own strategy and potentially go on to be more profitable than me.