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The SMP (Market Maker course) trading program allows us to use 20-20 hindsight.  That is, the charts don’t change over time as the WealthSmart (Moment in Momentum course) charts did.  I say, “wow!”, because this is big deal;  this really does allow us to use 20-20 hindsight to speed up our learning and earning curves.  Let’s do it guided by the 20-20 words, below:

 

1,2—HOME WORK

Yes, there will be some after trading session work to do.  Spend a few hours a week (weekday evenings or on the weekend) reviewing the charts.  You’ll see setups and entries that you missed during the live trading sessions.

 

3,4—LEARNING CURVE

You are responsible for the pace at which your personal learning curve moves ahead.  I suggest that you not only review charts by yourself, but show and share interesting charts (setups and entries) with your fellow students and instructors.  With the Smart Money Profile program you’re looking at and interpreting market maker content maps (paths to the PIPs).  The more the better to speed up your learning curve.

 

5,6—LOOK LEFT

Oh, by the way, don’t limit yourself to today’s charts and then tomorrow’s ‘today’s charts.’  Look left—scroll your charts to the left to last week’s and last month’s charts.  It’s all good—more market maker content, more setups and entries to identify, more maps to practice reading.

 

7,8—BACK TEST

This process of looking left, using history to advance your learning curve pace is known as back testing.  There’s a wealth of information back there thanks to unchanging charts (20-20 hindsight).

 

9,10—RIGHT EDGE

Now, to best look left and back test I suggest that you make the experience as ‘realtime realistic’ as possible.  You do this by emulating video replay of the price action … 5-minute candle by 5-minute candle and do the same with each 15-minute and 1-hour candle.

 

How?  Put your ‘current candle’ on the right edge (so that you cannot see the future) of your chart  and use the right and left arrows on your keyboard to move into the future or back, again, to replay.  Use your ‘stop action’ to explain what you see developing on the charts.  Talk about speeding up your learning curve, this is it.

 

11,12—QUICKER, FASTER

Next, let’s look at the earning curve part of all this.  It seems to me that we’re looking at simple and straight forward cause and effect happening here.  Speeding up your learning curve means seeing more trade setups and entries sooner rather than later in your student experience.  What follows directly will be distinguishing high quality setups and entries from those that are not so.  You’ll get better, sooner, at reading and interpreting market maker content maps.  Next, more winning trades and less losing trades—this is the cause.  The effect—quicker to the lot ladder and faster up the lot ladder.

 

13,14—LOT LADDER

Yes, the lot ladder—the business spreadsheet that explicitly shows why we only need to capture a modest number (30-40-50 PIPs) of PIPs per week.  Let the lot ladder, by way of reinvesting your profits, do the heavy lifting.  This is the power of account compounding (similar to compounding interest that Albert Einstein called the eighth wonder of the world).  The numbers grow slowly at first, but then take off.

 

15,16—ACCOUNT COMPOUNDING

The direct result is, in not a very long time, dramatic account growth.  Again, straight forward cause and effect.

 

17,18—PIP VALUE

The consequence to this quicker and faster move up the lot ladder by way of your account balance growth is your all important PIP value growth.  This is the ‘biggy’ in your career as a professional Forex  currency trader.  I’ll say it again and I’ll never tire of saying this, it’s not the quantity of PIPs captured, it’s the quality of PIPs captured by way of high probability winning trades as the result of accurate market maker content map reading (identifying high probability setups and entries).

In time (which you can speed up) you’ll arrive at the number one destination found on all of the market maker maps—the $100 and bigger PIP value.

 

19,20—EARNING CURVE

Do as I’ve suggested, above, and I expect all of our earning curves will eventually go straight providing to each of us the earning power to live the good life.

 

Ira Barnes

Fx365i Instructor

ira.barnes@fx365i.com