Episode 6: The Forex Coach Factor

[music] Hey everybody and welcome to episode 6 with the Forex Trading Coach podcast. I'm Dick Noble, filling in for Darko Ali this week. And in today's podcast, I'm going to talk about Darko's role as a lead coach for the coach's corner since he's not here. And what he's doing on a daily basis, because if you're going to take on a coach which is an excellent idea by the way and the best way to fast track your success in any endeavor, then you want to make sure that you're working with someone who's credible and who knows what the hell they're talking about, right? And not someone who just telling you what you want to hear. Darko started his journey as our lead Forex coach in November of 2017 and his main goal was to teach and show our clients how he went from a struggling trader to where he is today, which is a very consistently profitable trader so that it would help our members get there as well. Most importantly, he wanted to show what he did on a daily basis to turn his own trading around and just make sure to step by step and hopefully turn things around for our members as well, which is what's happened. Having some of the trade has a lot of components to it and you need to be willing to commit to learning the process of it all and unfortunately that's where a lot of people fall short because they've been sold on Get Rich Quick. The good thing was that Darko had everything fresh in his mind when he became our lead coach lesson two years ago because he was a struggling trader and he knew exactly what he did to become a consistently profitable trader. One of the biggest challenges in trading is to get proper education because there's so many resources out there and it's kind of hard to find something that works in real trading and not only in theory. Darko went through all sorts of courses and services and pretty much everything that he saw was garbage and crap and of course he paid good money for it and found out that it was no good. Anyway, there's no shortcut here. It's almost impossible to find something that works out for you right away. There's nothing wrong with looking at different trading styles and systems when you're starting out because you know how do you know that something's not working until you give it a try, right? But since turning his trading completely around about three years ago, a little more than that now, Darko now has written down rules for his own trading and he started to introduce our members to the basics about price action trading and how to read price because that's where it all has to start. Many traders or almost every trader maybe tend to focus so much about everything else besides price. Maybe they're hung up on, I don't know, some technical indicators moving averages to cash, to parapallics or whatever. But the very best indicator of all is price. Once you know how to read price, then you need to learn how to draw support resistance levels properly and then you'll know in advance where price is likely to react. Once you know how to read market conditions and then draw support resistance properly, then there's just one more thing left and that is a valid and frequently, excuse me, frequently recurring pattern or patterns. Most traders start at the wrong end. They start by finding a pattern and when the pattern doesn't work the way they imagined it would, what do they do? They dump that pattern and start chasing a new pattern until they face their very first losing streak and then it's kind of this never ending cycle. They think that just because a pattern doesn't work, then it must be useless. Well here's the thing. All patterns are useless if you don't know how and when to use them. So what happens, a lot of retail traders and newbies become pattern chasers. Now after was it been a year and seven months of Darko Lane the foundation, we're done with the foundation of trading. Of course, we have all of those, lots of training videos at our CC members site. So we all know how to read market conditions and we know how to draw support resistance and we focus only on three patterns actually. And the reason we do because they're the most frequently occurring patterns. We see them over and over again. Most importantly, the thing with patterns is you want to trade patterns that you see without any effort. Trading should be effortless. And after almost 13 years of traders, a primary of trading, Darko has come up with patterns that he never has to search for. He doesn't have to look hard for him. They stand out and they stick out like a sore thumb. And if it stands out to him, he trades it. The best part of this, and by the way, there's other patterns to it, doesn't mean it because we focus on three of them. You can't trade other ones. You don't want to overwhelm yourself with a bunch of patterns. Pick a few that are frequently occurring and that are really high odds and you're off to the races. So that's what he does. Best part of this is that he drills the exact same steps. Each and every day in his pre-market analysis video, what we call the PMA video for our members, without any deviations. Like the worst thing you can do is change your approach every day, every week, every month, whatever it is, and jump from one thing to another. Basically, what we're doing is we're trading patterns around key levels of support resistance and reading market conditions in a specific and certain way. That's it. And that's covered in these PMA videos. In the beginning, it might be, it might seem a bit overwhelming to understand everything that he teaches. But after a while, you'll get a feeling of how Darko does things. So what he does on a daily basis is that he produces that PMA video that I just alluded to. The pre-market analysis where he goes over all of our pairs in our portfolio and he picks the best ones to trade each and every single day. The ones that are setting up for a really nice trading opportunity. Once he's done with the preparation of all of these different currency pairs, which, by the way, it's a very time-consuming endeavor, he records that video for our members and he posts it before the London Open. Okay, so that's the service that we provide for our members. All the coaching that Darko does is live coaching. When that means that there's no hindsight whatsoever, everything is recorded in advance for your convenience. You can watch it whenever you want, whatever suits your time schedule, your time availability. And whenever a trade sets up according to the PMA video, we journal that trade onto a spreadsheet and it's there for all to see. Like we can't go back and say, oh, well, you know, we decided not to take that trade because blah, blah, blah. No, we can't do that. It's recorded. We can't fake it. Okay, most importantly, we manage those trades in a very specific way with a written down rules-based approach. Like if you're looking for the Holy Grail, look no further than trade management. It's huge. Proper trade management is the difference between successor failure. Something else we actually do, too, just as a bit of a sidebar. We actually have this, what we call a premium service for traders who want it, just for people who want to be a little more engaged, right, engaged where they have access to what we have a Skype chat lounge where we live chat and talk about trades every trading day. And this part alone has been a real game changer for many of our clients because, you know, just imagine having access to your trading mentor, your coach, live while the market's moving. We all wish we had that when we first started trading. So, you know, we'll have, you know, hundreds of traders watching the PMAs and then we can discuss and talk about trading opportunities that might be setting up. And if we get filled, then we can, you know, manage those trades together live in the Skype chat room. And this is really the best way of teaching you how a professional trader trades on a daily basis. Okay, because you're literally, you're watching him trade live and how to manage the trades live. Now it's also, uh, Darko's responsibility that everything that he teaches has been properly backtested and has shown great results, right? So he's already done the hard work for you. You only need, you know, you have to do is follow the PMA video instructions. Now I have to tell you that, and this is kind of a really important thing to understand. One of the biggest mistakes that so many traders make is that they're not giving themselves enough time to learn this properly. And I know that might sound like some kind of a cheesy upsell to keep someone in our service longer. That's just ridiculous. Believe me, it's not, it's not that. It's the truth about learning anything. It takes time. So like somebody might join for a month and if they don't see any results, they quit. First of all, they haven't had enough time to learn things properly. Okay. And tell by the quality of, maybe the quality of their questions or emails, it's common that they're after a quick fix and they have that get rich, quick mentality. It's not going to work. And I can tell you that, you know, Darko's brutally honest about everything. always in the best interest of our traders. It's not done in a mean way or anything like that or not in a condescending way or anything. He's actually dark. He's got a great sense of humor, but his comments are always meant to help people. And he does his level best every single day to take out what you might call the excitement in trading. This shouldn't be raw, raw, get in here and trade, trade, trade, buy, sell and all. We don't do that. Good trading is actually boring. Darko is very clear that if you want to make it in this business, you should have a quite a robotic approach where you do the same boring thing each and every day without deviation. You have a set trading plan, you know what you're doing every day. If you see him having a losing streak, he won't change a thing. A losing streak by the way, that's, I know, he might lose one in a row, but whatever it is, nothing's going to change. It's easy and common to start doubting darko system or anyone's system for that matter when a trade goes against you, right? And if we have a week or two of losing trades, then people start questioning the trading system and you know what happens next, right? They start searching for that holy grail. You know, actually, you should tell you, but a, I don't know, a month ago or a couple months ago, we had a, we didn't have any trades for a couple of weeks, very, very few. Anyway, the only one that we had was a full loss. Actually, it's gotten quite again here even now in the last week or so, but it changes. It cycles like that. Amateur traders start to panic and they get restless. But during that slow two weeks, how much do you think Darko was changing his approach? What do you, what do you think he did differently? Nothing. Okay, he did zero. He did nothing differently. He just kept putting up the very same information, the same approach, everything. Okay, this is the value of a good service. You can be there and you can see the true nature of trading. This is what trading is really like and you can follow the upsides and the downsides, the highs and the lows and you can get a true feeling for what trading is all about. This is priceless, right? Not some hyped up thing about, you know, you're making, you know, a thousand pips by the end of the week. Darko also produces bonus videos, micro, these little micro PMAs, like if a member asks a question, instead of answering by email or writing back in our Skype chat lounge, he'll make a short video and answer that question that way. Okay. It is incredibly rewarding when we see clients go from being a struggling trader all over the place and after a while becoming more and more serious about their trading, settling down and just noticing the difference between how they were six months ago and how they are now. Really rewarding as a coach to see clients progress and level up each month. And, you know, here's one more thing just to enclosing here. It is very important to understand. This is a performance job and Darko really understands that, you know, the entire financial market is about performing. As long as you perform, everybody's happy and you show great results, everybody's happy. Everybody wants to hang around with you and learn from you and think you're the greatest things in sliced bread. So this forces Darko to be constantly on his A game. Okay. There's no such thing as, you know, I'm having a bad day. I need to put, you like, you've got to put your ego aside, your biases aside, and you focus on the mission. You focus on what you're seeing and and that's what he does every single day. Nobody cares about personal issues or anything else. They pay for this service and it's his job to deliver and he takes it very, very seriously. I'll tell you something though, you know, and he's told our members us, I'll just tell you this as you're listening to this podcast, he'll tell you he has the best job in the world. He loves it. It's a rewarding job when he has the opportunity to give back to the training community and he's very, very confident that many of our clients are going to are going to go on to have the same opportunity to move to consistent profitability in the future while we see it all the time now. So it's just awesome to see. So I'm going to wrap it up at that. Thank you so much for listening. Oh, and I have one more request. Click the follow button and get notified of our podcasts whenever they come up. We really appreciate that. Okay, Darker will be back next week with another podcast. Until then, you guys have a great training week ahead. If you have any feedback or questions, we'd love to hear from you. Thanks so much. Cheers. [Music]