It’s been a while since we hanged out for coffee on these streets. Today you’ll experience what we term as ‘The FSC Experience’ (The Fourthstreet Consultants Experience). An exclusive one-on-one consultation session with you. This is what we do every day; we listen, we advise, we train, and mentor new and experienced traders into profitable and consistent independent traders. I thought to extend today’s consultation session to you, right at your convenience and comfort. I look forward to enlightening you, and there’s no better way of articulating that bargain than by sharing one of the most thrilling & revealing sessions that I held recently with a client, a gentleman who graced our offices. His name is Patrick (Not his real name).

We have held numerous consultation sessions at our offices, and others on phone and via skype with potential clients. But Patrick’s session was different. You know Catholics have a session in their worship services they call the ‘Sacrament of Penance’. The confession with a priest. I am not about to be a priest, nor am I Catholic, but with Patrick, I must admit it felt gratifying to listen and offer my professional counsel to a man really hungry and in need of the truth and growth.

I trust we’re well acquainted by now. That was the talk before Thee Talk. Let’s indulge. This article is an attempt to summarize my journey into the world of trading, while at the same time edifying you on factual guidance on what it takes to trade profitably and consistently for the long term.

It’s 2.30 PM, a gentleman walks in our offices, bold and well-composed. It’s one of those hot afternoons at the office, and interestingly, everyone is busy attending to their own business, stuck on their screens, a deafening silence! I am reading an article by Peter Thiel, the topic “Life is Short. That’s the point.” I propose you look him up, check his works. He’s one of the most brilliant thinkers and writers of our times. It’ll be worth more than a dime for your time!

After the salutations, Patrick is served coffee and we start chatting. From the beginning, he sounded so enthusiastic about venturing into the world of Forex trading. That got me hooked to the conversation. I quickly gather that he’s not new to trading. But he was oblivious of consistent profitable trading, and that’s what led him to knock our doors. 

“How and where did you learn about forex trading?” I posed the question to understand his locus. 

He is open and doesn’t shy from telling the truth about his journey into the world of trading. He explains that he has watched a number of YouTube videos on different forex ‘strategies’, including scalping, fundamental trading, and a few technical setups. He further explains that he had a chance to attend a few trading training seminars organized by Forex brokerage companies, where they were taught on how to place trades on MT4 using the short timeframes of 15mins and 30 mins. Some of the trainers had actually promised to be sending trading signals to guide them initiate trades and Wolla!! 

There was so much light and glamour to the party that he hurriedly signed up for a live account with a forex broker, funded it with $500 of his hard-earned money. Ready to set off on his journey to ‘turn his life around.’ His exact words, not mine.

I couldn’t help but only imagine the mental ruin and the emotional weight of the person in front of me. Not to mention the financial degradation he had been through for the past four months of his journey into trading. I could relate. It took me almost a year to land on a reputable and credible trading platform to learn from. Of course, I paid expensively for my mistakes & assumptions. However, 12 years later, I owe my success to that first move to go for reputable trading education. One thing that new traders fail to acknowledge is that the cost of not subscribing or enrolling for a trading course is way greater than the price you pay for that course/education. Why would you put your time, energy, and resources on the line for a ‘war’ that’s beyond your prowess? 

So guys, today I am going to be blatantly honest with you. There’s No single Forex brokerage company in the world that will ever serve you coffee, and shed light on facts about what it really takes for you to achieve consistent profitability in trading. Sounds harsh, right? The sole goal of Forex brokers is to get as many clients signing up for trading accounts as possible, and for them to fund those accounts with as much as they can, as quickly as it calls for. Brokers don’t care much if you’re losing or winning. Why should they care anyway when they are getting their profits from spreads and margins, regardless of whether your trades end up losing or winning?? The more the trades you make in a day, or an hour for that matter, the merrier for them. They all about volume, quantity over quality. This is the reason why most brokers preach the gospel of trading shorter timeframes of 5 minutes and 15 minutes. Anything to hook you into high-frequency trading. A great deal of business for the broker, but a painful journey resulting in overtrading, emotional instability, and financial losses, especially for newbie traders such as Patrick. It’s therefore upon you, as a new trader, to look out for what’s best for you.

Essentially, any credible and successful trader will outrightly tell you that trading off any timeframe lower than 4 hours or at the very least, 1 hour is guaranteed to ruin not only your capital but also your mental and emotional balance. I have been there, I have done that, and it simply doesn’t work! And even if it worked for a few individuals, why would you spend your life getting adrenaline rush and sweating your but all day, when you could place your trades, set up your limits to control your risk and target your profits, walk away from the screen, attend to other affairs in life such as family and other ventures? More consistent profits, more free time, no mental ruin/adrenaline rush. It’s an absolute win.

This is the gospel that your Forex broker and most Forex academies/trainers won’t tell you. Any Forex trainer or course out there that cares about your growth as a trader must be open with you from the word go. Trading can be relatively easy or hard, depending on where you seek education and mentorship, and your commitment to follow the various rules of the game, even when they are seemingly ‘boring’. In fact, profitable Forex/Indices/stocks trading is boring. Jesse Livermore, one of the greatest traders of all times, said it right, “Money is made by sitting, not trading.” What he meant is that the sole job of a trader is to wait patiently for the best setups, and go big with them, as opposed to trying to chase or force trades on the markets every other minute.

Having said that, I have nothing against Forex brokers, in fact, we all need them. They are our bridge to access the markets. I am only looking out for the masses out there, such as Patrick, who are enthusiastic and looking forward to kick start their careers in forex trading, so that they don’t make the same mistakes I made during my first days into trading.

I am about to cover and expound on my full consultation with Patrick, that is how I got to respond to his trading distresses and inquiries in an elaborate, but precise manner. 

I’ll put forth the questions as I posed them to him, then I’ll answer to them coherently. You’re welcome to seep some more of your coffee☺

Question One: How and where did you learn about forex trading?

Whereas attending trading seminars and workshops is a great way to expand your knowledge about trading, it would be a big joke to assume that that would be all you needed to get started on trading and to be a pro trader. Getting a reputable training education is mandatory for you to learn any new skill. Attaching yourself to a mentor in your line of career shortens your learning curve and grows you as a person. This is how you win, not only in Forex trading but in attaining any significant skill in life.

This is also true for watching YouTube videos or reading some blog articles. Not even our blog page at Fourthstreet Consultants is adequate to set off on your path to trading and making consistent returns. Yes, it’s indeed a great place to gather trading incites and knowledge about the various disciplines of the business. But until you immerse yourself into a fully developed, reputable, and tested trading course, that comes with dedicated mentorship, then you’re quite far from the real pie.

Let’s be real with life. There’s no shortcut to success. Pilots learn for 5 years before they can get their badges. Lawyers spend at least 7 years to learn and practice law. Boxers and athletes practice for at least 5 years before reaching their career peaks. What about traders? They want to learn everything about trading today and start making handsome returns tomorrow. This is the biggest irony with our industry. Shortly after, most newbies either give up or cry foul of how much trading is ‘gambling’. It might not necessarily take you 5 years to learn and practice profitable trading, but failing to invest in trading education is guaranteed to cost you more in the long-term.

Question two: What Type of a Trader Are You?

Any trader must answer this question outright without blinking or collecting words. Are you a technical trader? Or a fundamental trader? If that’s the case, are you a day trader, a swing trader, or a position trader?

Of equal importance is, do you have a trading plan that strictly guides all your actions on the markets? I put together a guide on how to develop a trading plan here.

If you can’t satisfactorily answer these questions, you aren’t yet started as a trader, you only possess ‘ideas’ about trading, and you’re not equipped with the required trading skillsets to engage in live trading activities.

Question Three: What are your expectations as you venture into the business of Forex trading?

The internet is awash with too much noise, and people selling lies and false lifestyle to woe you into their fishing nets. Most beginners go through a couple of YouTube videos, and just like that, they imagine themselves making the millions overnight from trading. Rude shock! There’s no quick money in Forex trading. No legitimate business model makes profits all the time. Even the biggest companies of our time suffer small losses, and other times, big losses. Varied performance with different seasons is a norm for any business. Different company stocks, for instance, appreciate during certain quarters of the year and dip in other months. Forex trading is no different. With this understanding, your job as a trader is not to avoid losses, but to manage losses by keeping them small, while maximizing on your profits. 

Our course not only guides you on how to manage your losses but illustrates in expounded videos how to set up your trades on a live account, one funded with real money. We took it upon ourselves to fund a live account with real money $$, and recorded all our trading activities in real-time, for three continuous months. You will hardly get this value from most trading courses out of them. Is your trading coach/trainer daring enough to trade live and record as they practice what they teach you with their money in real-time?

This is all that is covered in MODULE THREE of our comprehensive online course.

Question Four: Are you always excited and attached to your running/active trades?

Anytime you find yourself excited about your entries, getting the adrenaline rush when your trades are running, then everything you’re doing is wrong. In most cases, you’ll have risked a little too much, or got in late into the trade. Essentially, anything you do on the markets without strictly adhering to a documented Trading plan is wrong. As a normal human being, you’re prone to be fearful and/or greedy, which consequently causes you to break your own rules. 

Consistent and profitable trading is boring. This is because you follow the same set of rules and steps in all your trades. There’s no excitement or anxiety because every action is guided by the trading plan. This is how we train our traders at Fourthstreet Consultants. If you’re to approach Forex trading as a business, you’ve got to learn the rules of the game and detach trading from your emotions. We simply approach every trade with a mindset of Risk Vs. Reward. The discipline to only place trades with low risk and high rewards is not a matter of contention. You can only learn these disciplines through practicing and proper mentorship from experienced traders. So you want to be a profitable trader? Now you know what to do, right? As for Patrick, he is already on his new journey into learning and earning consistently with us, trading off the biggest financial markets in the world where more than 5.3 trillion dollars are exchanged every day.

This is it for our coffee date. Please note, you’re the one paying next time.

OH, before it slips off my mind, just in case you were still wondering whether to learn Forex trading or pick up an online skill that would add up that extra income for you, this article here is specially the Wake-up call for you. Good luck!

NZDCHF

New Zealand dollar versus the Swiss Franc on the weekly time frame shows a down trending market within a descending wedge. The pattern suggests that the main trend is bearish. Bears have been moving the market lower for the last 3 years. Currently price has formed a pin bar followed by a confirmation candlestick. This candlestick pattern is a potential reversal signal.

SUMMARY.

In as much as we have a sign that the market may reverse or change direction keep in mind that the market trend is bearish. The reversal may be short lived, happen imminently or not happen at all. Price action will continue to guide us on which of the above scenarios is most likely to happen.

USDCAD

The US dollar versus the Canadian Dollar on the weekly time frame depicts a clear descending triangle. Price has been within this consolidation for one year and four months. Price is at the resistance level of this particular pattern. Rejection of higher prices at this point would be a good bearish sign. Last week’s candlestick closed below the resistance zone.

SUMMARY.

Another bearish candlestick would act as confirmation that bears are getting into the market. Sellers may then decide to move price lower heading towards our near term level. However bulls may take charge and cause a breakout above the pattern. As usual price action confirmation will guide us accordingly.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

GBPUSD

Analyzing the daily chart of the British Pound versus the US dollar (GBPUSD)a fortnight ago  we got to see a symmetrical triangle.At the time price had been resisted by the upper boundary of the triangle while also being supported by the lower boundary. The chart pattern had not broken out then but has since broken out below during the past week.

SUMMARY.

It is clear that the bears are dominant and consequently led to a breakout below. At the moment our bias is bearish. We have seen the breakout candle and a confirmation. Chances are high that price will continue going lower and lower probably heading towards out near term level in the coming weeks.

USDJPY

On the weekly chart on the US dollar vs the Japanese Yen there’s an ascending channel that has been persistent for 6 months. Last weeks’ candle was a bullish engulfing which is a powerful potential reversal candlestick formation. The engulfing covered the previous candlestick and the gap that occurred 2 weeks ago.

SUMMARY.

Since we’re in an ascending channel ,the main trend is bullish. The bullish engulfing further strengthens the latter. Stay tuned on this market to see whether the bulls will push past the resistance area shown by the trend line or a reversal due to the resistance will occur. 


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

It’s been a while since I put my pen to paper. It’s 2.17 am, I sit at my desk at home, my eyes fixated on my pen. We have this bond, one that is bound by honor and service. And tonight, it’s my turn to pay for the bargain. That sounds like too much of an affair between me and my pen right? Well, only we know. Let’s engage. Let’s indulge today’s topic, Shall we?  

I love thinking differently. I question most, if not all societal norms. In trading they say, ‘the path of the masses often leads to misery.’ Let’s take the unexplored route. The world has already preached too much about success and achieving one’s goals, which is fine, essentially. But today I invite you to take a ‘not so much explored path,’ that of facing and managing losses in life and in trading. So let’s take a short trip to my mind.

Until you’re bold enough to face your fears of failure, and the manifestation of failure in its realest form, you’ll never be ready for meaningful success in life. Even if success comes early, you might not possess the resilience to see it fly high without getting lost in the hardships encountered therein. This is the quality of possessing the right mindset and discipline. It is the same reason why most athletes and lottery players win millions of dollars only to end up broke in a few years.

Beware to cultivate a space that allows for acceptance and moving on from your losses, both in life and in trading, but not conforming and settling with what’s gone. See the difference? Quit complaining about the things you have no control over. In trading especially, you cannot control the price movements, or the trading volumes/volatility. It adds no value to being too attached to your trades, or trying to ‘predict’ the next trend or price rejection. Our job as traders is to master how patterns form (price action), and to trade them off when they do appear on the charts; but never to trade in their anticipation. One thing that is ultimately in your power is your risk exposure. Every day you get to choose how much you risk on every trade. The masterly of proper risk management is the ultimate power of successful traders. This of course makes sense for those who approach, or looking to approach Forex as a business in all its disciplines.

Most often than not, we don’t give failure and loss so much thought when we set out for a project, career, business or the onset of a new relationship. In most cases, we presume for the best outcome, (total optimism) and fend out the thoughts of any chance of failure and losses whenever they creep into our minds. Don’t get me wrong, it’s unhealthy to entertain the idea of failure when pursuing our life missions, whether it’s in business or relationships. This ideal of course presumes that you took time to evaluate your goals and compatibility. But it’s a different sphere of mental strength to be aware of its possibility, and do everything in your ability to improve yourself and to minimize the chances of failure and losses actually occurring. This is how we define intelligence.

Unfortunately for traders, losses are PART OF OUR DAILY BUSINESS. Losses in trading are our ‘cost of doing business.’ Usually, this is the toughest ideal that most people venturing into the world of trading don’t recognize, accept, and work on their management rather than avoidance. Not so different with life and business, right?  Additionally, it is the very reason why most people don’t stick around to make consistent returns in trading, and criticize how much trading is similar to ‘gambling.’ 

The biggest hedge funds of the world today and the greatest trading legends encounter losses in trading, the same way with any business out there. They don’t run on profits every other week. Paul Tudor Jones, founder of Tudor Investments Corporation, who also adds as one of the world’s greatest traders of our times says it right, “At the end of the day, the most important thing is how good are you at risk control.” What sets him and other successful traders apart is their ability to recognize and the accept losses as an integral part of their trading careers. This is how they have endeavored to reach the peak of their game. Most of the mastery of learning and trading the markets successfully has a lot to do with cultivating the right psychology and expectations.


Therefore, as traders we must accept and channel our energy and focus towards ‘MANAGING LOSSES’ as opposed to ‘AVOIDING LOSSES’ to ensure we keep our losses minimal, and our profits optimal. This is our only chance of achieving a sustainable career out of trading. The best part is that there are parameters available for traders to manage and limit their losses. What’s more exciting is that you don’t need to stay on your screens all day monitoring and ‘controlling’ your losses, everything is set up for you to input the level and the little amount of capital that you are willing to risk in every trade, and leave everything to the markets to work, i.e. after doing your due diligence and analysis. As you walk away after setting up your trades, it’s usually clear on your mind exactly how much dollars you stand to lose should your trade go against your analysis/direction, and how much you stand to gain if it’s a win. In any case, the market does what it wants, and no one trader in the world can control its actions. We call it ‘over-the-counter’ business transactions.

Beware of anyone out there who purports that they don’t make any losses, that their language is that of ‘enormous profits’ as a total scam that you should keep off.

At Fourthstreet Consultants, we are driven by a common approach as we continuously train and mentor traders to achieve consistent returns by trading their own capital, as others add to their resume in securing trading and Financial market consultants job positions in the fast-growing money market industry.


Our Forex Course further takes you through live recorded trading sessions whereby you experience first-hand how to take losses trading real money on live markets. At the end of the day, with all trades and all small losses factored in, we make considerable profits, which is the nature and essence of any legitimate business. Everything is well laid out and demonstrated for you throughout the four Modules of the course. From well-articulated notes that have filtered the ‘noise’ from the internet, to trading videos with rich content demonstrating the various trading strategies, and how to apply them on live markets. Those looking to add another stream of income can sign up for our Trading Course Here to learn and earn from trading the Forex markets.

As I wind up, let us all strive to be people of value. We live in a society that is ‘result-oriented’. It cares less about your journey, or your struggles and failures along the way, but only for the end results. Embrace your own journey, pat yourself at the back with a ‘well done’ for those small achievements along the way because in most cases, No one will.

A. C. Bension said it right, “The Worst Sorrows in Life are not in its Losses and Misfortunes, but its Fears.”

AUDJPY

During the second week of January we looked at The Australian Dollar vs the Japanese Yen (AUDJPY) where there was an ascending wedge present. At the time price had just broken out of the wedge and our bias was a high probability bears may take the price lower.

SUMMARY.

Exactly a month after the analysis, price broke out and we can see that truly sellers came in and pushed for lower prices. Our price pattern acted as a continuation pattern leading to a resume of the bear market. Stay tuned watching this market to see for how long will the sellers control this market manifest.

GBPNZD

Three weeks ago on the weekly chart of the British pound versus the New Zealand dollar (GBPNZD), there was formation of inside bars. Price had just topped our major level and moved down a few hundreds of pips to where the inside bars formed. A fortnight later price broke out above the mother candle, signifying a potential move upwards.

SUMMARY.

Ensuing the breakout above the mother candle,price moved higher. Last week’s candlestick just closed at the major level. In the coming weeks we monitor the pair to determine whether bulls have enough momentum to push price past the major level.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

EURJPY

On the daily timeframe of the Euro versus the Japanese Yen(EURJPY), we have a double top formation. Price was on an uptrend from August last year and both tops of the double top are shy the near term level by a few pips. The near term resistance level has resisted price which caused the formation of the double top.

SUMMARY.

The market opened on a gap which caused the most recent candlestick to open past the neckline. However we can’t validate this as a breakout just yet. We need a confirmation by another bearish candlestick. Following a confirmation of the breakout, we may be looking at lower future prices.

GBPUSD

The British Pound versus the US Dollar (GBPUSD) has been on a tearing uptrend for the past 5 months that topped at the major level. Price has been consolidating at the major level forming a series of higher lows and lower highs which resulted in the formation of a symmetrical triangle.

SUMMARY.

This particular chart pattern can cause a reversal or a continuation of the previous uptrend depending on the direction of  the breakout. Therefore, we wait for the breakout and price action confirmation and follow price accordingly.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

EURNZD

On the daily chart of the Euro vs the New Zealand Dollar (EURNZD) a downtrend has been trending since October last year. The last 2 months show a consolidation in the form of an ascending channel. At the moment price is at the support level of the ascending channel.

SUMMARY.

The chart pattern can either be followed by a reversal of the trend following a breakout above the channel or a continuation if the pattern breaks out below. A breakout will guide us accordingly, therefore we stay monitoring the charts until it’s time to pull the trigger.

USDCHF

On the daily chart of the Us dollar vs Swiss Franc (USDCHF) for this week, price broke out below the channel we mentioned during the last week of November last year and it has been on a steep downtrend since then. The market has currently reached the near term level where we have a potential reversal candlestick formation in a pin bar and a bullish confirmation. Furthermore, the pinbar formed as an insider bar and we have a breakout above the mother candle by our confirmation candlestick.

SUMMARY.

A possibility of a reversal from this point is highly likely. However, it is important to wait for clear signs that the downtrend is over before opening any bullish positions.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

GBPNZD

On the British Pound vs the New Zealand Dollar (GBPNZD) weekly chart, we get to see inside bars forming. The last 2 candlesticks have been inside bars to a bearish candle that occurred 2 weeks ago. Price topped at the major level in October last year and has slowly been descending. It is too early now to say that we’re in a downtrend or to suggest that the downtrend has begun.

SUMMARY.

Inside bars are candlesticks potentially indicating continuation of the trend. In this case our mother candle is bearish. However as usual we need confirmation. For example, a weekly  candlestick closing below the mother candle, would be a bearish indication and vice versa.

EURUSD

On the daily chart of the Euro vs the US Dollar (EURUSD) price is trading within an ascending channel after breaking out of a long term descending wedge. This particular market has been on a downtrend inside the wedge for 2 years. It finally broke above the wedge last year during the month of December. Most recently, looking at the ascending channel we can see a morning star which is a doji ensuing a dominant bearish candlestick, followed by a bullish candle potentially indicating a bounce off the channel’s support heading upwards.

SUMMARY.

Since price broke out above  the descending wedge, we have a bullish bias. Furthermore the channel is rising which increases the certainty of our bias. The morning star clearly shows the rejection of lower prices at the support level with the long lower shadow of the last candlestick. Stay vigilant watching the markets as price action will guide on an ideal entry.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.

You are not financially stable until you have at least two to three streams of revenue. Let that sink for a minute. Any successful person will ultimately tell you that employment is a great way to earn our daily bread, but no one truly gets wealthy by relying solely on their monthly salaries or one source of income. There’s also a significant element of diversification of risks attached to this economic sense. 

Fortunately, it has never been easier to start an online business than today, where everyone has access to the internet, not to mention an influx of online information that is affordable and readily available. Let me rephrase that whole part. The Future of Education is already here; it’s called ‘The Internet.’ Whatever you want to learn is right there. From blogs, to podcasts, online courses, you name it! The only barrier is discipline. With a conscious search, you can easily access credible information and online courses that are tailored to suit your need(s).

It is said that a life without reflection is a life half-lived. As we go about life, we always have to stop once in a while, look around, evaluate our actions, and pose questions to ourselves. It is in this light that I invite you to take a trip with me to my mind. Today we talk about one of the most significant topics that most people are afraid to address. I will call it as it is, straight and direct with you. I will challenge you, and leave you re-evaluating your course of life by the end of this article, or at least it’s what I aim for. To replenish your reasoning and purpose in life. Let it keep you awake for the next couple of days, weeks, for you to step up and be a person of more value. Why would anyone settle and stay average anyways, barely ‘existing’, when there’s so many opportunities for growth, that would accord us high standards of life, and that of our posterity.

Quick question; How often do you call yourself to a meeting? To literally take yourself out for coffee, evaluate your progress, tell off your retrogressive habits/addictions, and pat yourself at the back for your successes or strides in life? Anything that’s not serving your goals and growth in life adds up to a groupie I call ‘demons’ that are responsible for keeping status quo in your life, or worse off, lowering your value socially and economically. It could be bad habits, toxic people, slacking in your comfort zone, lacking the self-drive to take action and get things done, not to mention the mother of them all, the ‘demon of procrastination.’

Still wondering why you must learn an online skill and start an online business?

Let’s ponder on the following soliloquies that I gathered to awaken our minds:

There’s a new order happening in life today, a major disruption in how we do business and how we go about our daily lives, ‘the digital disruption.’ It is said that about 40% of the jobs today will be scrapped by the advent of technology in the next five years or less. We have already witnessed companies systemize their operations thereby laying off their staff to cut on costs. As such, do you possess varied skills to cushion yourself should the dreaded disruption happen in your line of career/business? 

How many streams of income do you have currently apart from your job or business?

What more can you do with what you have?

Are you easily replaceable in your current job or career setting? Do you understand the dynamics of your career as to acknowledge the high number of overqualified people looking every day to replace you should you slack or underperform? 

Before you mark me out as a pessimist who’s here to wish misfortunes in your life, please take a minute to think through it all. I took it upon myself to challenge the status quo. This is a sensitive topic that most of your normal ‘friends’ and colleagues are afraid to discuss openly, leave alone to bring up. Whereas we can’t fight a revolution whose time has come, we can ‘be intentional’ about equipping ourselves with some valuable online skills that if well mastered, can turn out to be our greatest assets and sources of livelihood. There is never a downside in learning a new skill. No time or resources is ever wasted in learning a new skill, regardless of whether you apply it right away or later in your life. Attaining such knowledge is in itself a valuable asset that no one can rob you off, no matter the downturns of life.

Learning to trade online Forex and CFD’s, for instance, would be a great place to begin. A lot of varied information and views have been said about this profitable venture. Those who begin by acknowledging that they need proper education and mentorship to be professional traders soon reap from endless profits available in the forex markets every day. I must caution and insist, it is not a get-rich-quick business, as many would assume. One has got to adopt the mentality of approaching Forex as a business right from DAY ONE. That way you learn and keep your mind engrossed on how the business actually works.

Unfortunately, those that uphold this misplaced assumption are soon proven wrong, and they never live long enough to cross on the other side of making consistent profits in the long term from trading the markets. At Fourthstreet Consultants, we offer a comprehensive online course that allows you the freedom to learn from anywhere, and better still, access unlimited mentorship from our consultants both physically at our offices, and on phone or skype. Since the launch of our online course about two years ago, we have trained over one hundred new traders, varying from the working class, to students, to business people across all ages. Forex trading is an art that you learn and practice, and is for the take for anyone out there regardless of the educational background. Some of our trained traders have turned out to be corporate traders in financial institutions, while others choose to trade on their own and simply earn a living at the comfort of their homes.

Whereas all this sounds like a great deal of making a living, and it indeed is one of the most rewarding online skills anyone can invest and learn, it comes with a lot of hard work, focus, and the discipline to adhere strictly to the concepts and rules of the business. The most challenging part is usually mastering how to control one’s fear and greed, and of course learn profitable trading strategies while managing the risk exposure. No one should ever purport that one can learn trading the markets without proper education and mentorship from experienced traders, and ‘mint’ money overnight, or get-rich-quick from trading the markets. As Fourthstreet Consultants, we pride ourselves as the first Online Forex educators to be certified by the National Industrial Training Authority (NITA), which is the official government licensing body for industry-oriented courses and trainers. This certification allows us to offer certificates at the completion of the course that builds on your portfolio.

In a world where there’s too much-clustered information with all the ‘noise’ and unprecedented motives online, our course is professionally packaged and tailored to equip you with exactly what you need to get you right on track. With an experience of over ten years, our team of consultants understands your needs, and how to empower you through the learning curve until you can trade independently and profitably. Those with a keen eye for this exciting venture can begin here.

Other valuable online skills that one can partake apart from Trading the Forex & Indices include graphic design, coding, content writing, data analytics, transcription services, amongst others. Nowadays one can learn literally anything online. Even rocket science! At the end of the day, make sure to learn at least one or two online skills that would give you the most value, and earn a living from them. 

Here’s the best part. If you live long enough to practice and master your online skill, you’ll have gathered enough experience and knowledge to create an online course, to teach and empower others, just like we do right here at Fourthstreet Consultants, thereby creating a timeless additional source of income for you. It’s a win-win for you, Right??

As we wind up, let’s take a moment to review some of the main benefits/reasons why learning a money-making online skill is a MUST for you:

  1. Stability & Control Over your own life
    No one wants to hear this, but it is a fact that you have limited control over your life when your income is tied to a process you don’t control. Businesses suffer losses and eventually close, companies merge, and others get bought out. There’s no better way to be in control of your financial freedom than to learn online skills and start an online business where you’re not affected by any of the aforementioned factors. 
  2. Freedom
    Imagine living a life where you have no meetings, not bound to work from one place. All you need is your laptop and access to the internet and you’re good to go. You set your schedules for work and holidays. You don’t have to spend hours on traffic and beat crazy work deadlines.

    Your family gets the most of your time. What’s better than taking your daughter out for swimming on a Tuesday afternoon, just because you can! You simply own time. You’re your own boss.
  3. High Scalability
    The potential of the income that you can generate from an online business is simply unmatched. For instance, successful forex traders get to compound on your returns, as well as set up an investment fund as long as you can prove your skills and worth to potential investors. And better still, your income will not be a function of your time. You still get to follow your schedule and discipline of trading, but now with a bigger capital margin.

    If need be, and as you grow in your career, you may choose to systemize your trading so that your money works for you as you sleep.

In the words of Nelson Mandela – “There’s no Passion to be Found Playing small, and settling for a life that’s less than the one you’re capable of living.”

GBPCAD

Looking at the monthly time frame of The British Pound vs The Canadian Dollar (GBPCAD) we can see a descending channel that has been present for the past 2 years. Bears and bulls have been playing tug of war as they consecutively take charge of the market in turns. Our attention at this point is December’s candlestick that closed last week, which formed a gravestone doji.

SUMMARY.

A gravestone doji is an indication that buyers pushed the price up but were unable to sustain the rally. The uptrend could be highly likely losing its momentum. Are we going to see a new downtrend? Keep in mind that the main trend is a downtrend as we are in a descending channel. You may look at lower time frames such as the weekly and daily for entry confirmations.

AUDJPY

On the weekly chart of The Australian Dollar vs The Japanese Yen there’s an ascending wedge that has formed within a downtrend. A rising wedge within a downtrend is usually a potential continuation pattern. This week’s candle gapped down and opened below the support level of the rising wedge.

SUMMARY.

There’s a high chance of bears coming in and causing prices to fall. However, before that price could re test the support to see whether it’ll hold as a resistance zone as well. Price confirmation is key and you may open a lower timeframe such as the daily timeframe to scout for bearish opportunities.


Disclaimer: This analysis is for educational and general information only and not advice or a recommendation to trade or invest. Do your own research/analysis and don’t blindly enter trades based on the analysis.