LEARN FROM GENERALS OF THE MARKETS - PART 44
“Most
people don’t understand that they need a trading system if they are to make
money in the markets. Most importantly, that system must fit you, your
objectives, your psychology, and your beliefs, for you to be able to trade it
effectively.” – Dr. Van
K. Tharp
Vladimir Ribakov is a renowned expert trader,
mentor, signals provider, blogger, author, trading software developer and funds
manager. He’s his roots in the part of the world that used to be called USSR.
For many years, he’s been handling the uncertainty in the currencies exchange
markets and commodities markets victoriously.
Having achieved success in trading, he decided to
reach out to those who need help – those livid and exasperated souls who long
to make gains from the markets. Most of these people were misled into adopting
various suicide trading principles in the past, and they suffered as a result
of this. Vlad has endeavored to assist some of those people in learning and
applying winning trading principles and the results have been wonderful. Vlad’s
websites are: Vladimirforexsignals.com/, and: Vladimirribakov.com/. On those
websites, you may want to tap into his peerless knowledge and experience. You
can also access his trading signals, strategies, blog posts, eBooks, etc. All
these are constantly updated. He’s
released some free but helpful trading software like Spread Detector and so on.
Spread Detector helps you determine when your broker widens the spread unfairly
or according to their terms and conditions. It also helps you see whether a
broker really has fixed spreads if they promise that.
One best way to learn from Vlad is to download his
free eBooks that reveal important trading secrets. Those eBooks ought to come
at a price, but the author really wants to help as many people as possible. His
free eBooks are: “The Secret Meaning of Japanese Candlesticks Part 1,” “The
Secret Meaning of Japanese Candlesticks Part 2,” “What Type of Traders Do You
Want to Be?” “Psychological Trading and Money Management System,” and
“Converting Knowledge Into Practice.” His premium eBooks are titled: “Sell the
Rally, Buy the Valley” and “Profitable Trading Mind.”
Lessons
The best way to learn from Vlad is to download his
free eBooks and subscribe to his free trading signals. In addition, these are
some of what you can learn from him:
1.
The easiest and the quickest way
to become a successful trader is to follow a winning trader’s buy and sell
recommendations – with physical stops, targets, trade management and risk
control. One pitfall is that most people aren’t disciplined enough to follow
the signal provider’s recommendations as originally intended. Yet, they blame
the signals provider. This also explains why many people would purchase
profitable trading strategies and still receive margin calls with them: the
systems either don’t fit them or they don’t stick to the rules of the
strategies.
2. Vlad himself
declares: “I constantly scan the web for new systems,
strategies and Forex services. I have to admit, there is a lot of crap out
there but still, I have managed to find here and there interesting systems that
actually work nicely. Sometimes I even test how to integrate them with my
strategies and tools, to dramatically improve system performance.” There are
great trading strategies out there. Do you have a winning trading strategy?
Vlad’s winning strategies are Divergence Trading Method, Forex LST System (LST
stands for: Learn, Simulate, Trade), etc. You can learn how to use those
strategies from him.
3.
Real winning traders should publish their genuine
trading results. In the past, I mentioned some expert speculators who publish
their tract records for people to see. There are many people who claim to know
much about online trading, but when you ask them for their track records, they
can’t show it. This is because they got know track records. They know much
about trading, but they can’t make consistent gains. Vladimir is one of those
rare breeds who make their track records public. This means that if you’ve
followed his trading signals to the letter, you would’ve achieved the same
results like him.
4.
However, you should know that good trading methods have
winning and losing phases. The real thing is to have average winners that are
much bigger than average losers over a long period of time. Personally, I’ve
seen that a losing phase may hold out longer than an average trader expects. I
can experience this phase for up to 4 months in a year, but I manage my risk
effectively, avoiding large drawdowns, and still coming out ahead at the end of
the year (no matter how small the positivity may be). There’s no way around
this truth; you got to accept this or go do something else.
5.
Make your chart to be as simple as possible. It’s awful
to see how many traders use complicated trading techniques (and in reality,
complicated trading techniques don’t make more money than simple ones). The
real secret to Holy Grail is in using a positive expectancy strategy and
controlling yourself and your risk. Please clean up your chart, and make your
life easy. Why should you put too many indicators, custom indicators, bots and
semi-automated systems, only on one chart! Ah! You chart doesn’t need to look
like Michelangelo’s paintings before you can become triumphant. Clean up your
chart and keep things simple. KISS.
6.
Some year ago, Vlad published an article titled
“Brokers Horror Stories.” There are good brokers out there, and there are bad
brokers. The kind of broker you choose will also play a big factor in your
success or failure as a trader. Good
brokers make sure that their clients experience excellent services and customer
support; and merely 1 or 2 disgruntled clients don’t really make them skunks
(for no company is perfect). According to Vlad, some of the factors you need to
consider before choosing a broker are: 1) Being authorized and regulated in the
country where they have office, 2) Excellent customer support, 3) Competitive
spreads, 4) Having been used and trusted by someone you know personally, 5)
Meritorious awards, 6) Many accounts, funding and withdrawal options, 7) Being
around for years, 8) Generous promos and so on.
Conclusion:
Unsuccessful traders seek help because they lose consistently after approaching
those who call themselves markets gurus. You can’t be a winning trader without
learning what it takes to be a winning trader. Imagine starting your boxing
career by challenging a world heavyweight champion. You know what the outcome
will be, don’t you? Really, current heavyweight champions started somewhere; as
they envied the heavyweight champions of those days. The trick in trading
success is to practice winning trading methods over and over again, until it becomes
your second nature, although no methods works 100% of the time. Effective
trading principles always work.
This article is ended by a quote from Vlad:
“Like love, trading is an international language.”
Eye-opening trading lessons: Lessons from Expert Traders
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