Feel Proud Trading Ultraconservative
Updated by Jonbert Davidsen ∴ Tuesday, April 4, 2017
Profitable Trading Mind
In one of his two Kindle eBooks on Amazon, Profitable Trading Mind, Vladimir Ribakov says: “First, prove you are a stable trader, and you know how to make profits consistently. By that, I don't mean profits 3-6 months in a row, but profits 3-6 years in a row!” I go along with Vladimir Ribakov on the time horizon and plan my trading activities in years. Vladimir’s quote expresses a realistic approach to how much work and time it takes to become a profitable trader. It’s one reason I listen to him. The realistic approach requires a mindset change. As Vlad also says in the same book: “Feel PROUD of doing ultraconservative trading.” Trading small positions is OK. They protect the trading account while the trader learns the ABC’s. If a retail forex trader appreciates conservative trading, he’s safe from greed, impatience and the desire to trade wild. Besides, forex traders who feel proud trading conservative shape up the quality of being humble. Vladimir R. approach to trading is a great example for the novice trader.
I'm not an affiliate with Vladimir Ribakov or with any broker
The Retail Trader’s two Goals
The two cardinal goals of Vlad’s teaching are: 1) protect the capital, 2) then grow it. Vladimir stated above, trading is about the next three to six years. The quote is Vladimir R. answer to aspiring retail forex traders who dream of quitting their job. Often, they dream of taking a salary from trading in three to six months. But, it’s wrong. The goal is protecting the capital and second to grow it. The most successful Forex traders secure a basic salary outside their trading. Also Vladimir Ribakov. He went into online business.
The online Community
In 2011 Vladimir Ribakov created an online community. The community enabled him to do what he loves and get paid. Vladimir offers: 1) Vladimir Forex Signals 2) Forex Gemini Code, Forex Libra Code, and other trading products 3) Trading Mentorship programsIt’s relevant to bear in mind, he has been around since 2011. When a trader evaluates the quality of an online trading community, he can ask: 1. Is it possible to run an online trading community six years without proper trading knowledge? 2. How does the community owner react to critique? Traders like Vladimir R. with massive online presence will always meet critics. The majority of traders lose. Sometimes the losing traders blame the people who develop the trading products they’ve used.Here’s how I look for an answer to the second question (how does the community owner react to critique.) If the critics exist, I find them with techniques from Improve Your Search in Google or by going to the comments on YouTube or Amazon. In Vladimir’s example, I found some critical comments to his Kindle eBook Boost Your Forex Profits With Unique Convergence Strategy. I take it as a good sign if I see the person defend his product. At the same time, I like to see him respect and respond to the critique. I appreciate the way Vladimir Ribakov handle his critiques. He’s polite. His answers are smooth but to the point. AND he always answers the critics.
The Forex Dream
I’ll shed light on another aspect Vladimir R. writes about in Profitable Trading Mind. It’s a passage about the Forex dream: Vlad writes: “People come to trading many times with a big dream of making money from it. That's very good and very important to have this dream, without that there is nothing to aim for. But it's very important to stay realistic too. During my life as a mentor I saw many people just starting to trade, and after a short, successful period of a few good months, they decided that they can leave their job and concentrate ONLY on trading. Well, that in my point of view is a VERY big mistake. You can't simply leave your only sure and guaranteed income and concentrate on something that "should" bring you money in the future. You can do that ONLY if you have another source of income that allows you to do that." Again, a reminder to be realistic. Retail forex traders can use an online business to secure a salary outside trading or keep a 9-5 job while trading. As Vladimir says, it’s vital to dream, and to dream big. It is possible to be a dreamer and realist in the Forex world. Today, Vladimir Ribakov is an established name in the retail Forex industry.
Forex Chart Patterns
17. December 2013 Vladimir Ribakov released Best Forex Charts Patterns on YouTube. It’s among Vladimir’s R. most popular YouTube webinars. Since chart patterns consist of candles, combined or alone, I believe Steve Nison’s: Japanese Candlestick Charting Techniques goes well with Vladimir’s webinar. I mention Steve Nison’s book because he brought Japanese candlestick technique to America. The book is the best I’ve read on the topic. Both Vladimir Ribakov and Steve Nison use humor as a mean to clarify their points. And it works.
The Big Subjects in Forex Trading
The three subjects retail traders give most attention are strategy, psychology and money management. But, the psychology and money management get lesser attention than the strategy discussion, at least online. Vladimir R. suggests we adjust focus and give psychology and money management more attention. They’re what divide good traders from the less successful. Vladimir Ribakovs book at the beginning of this blog post outlines the basic trading psychology. However, I suggest you read it after you’ve understood the YouTube material I refer above, and in the next section.
Money Management in Forex Trading
Vladimir’s argument is well-founded. Without understanding trading psychology and proper money management, it’s difficult earning money. Vladimir’s webinar about Forex Money Management uploaded on YouTube 13. December 2013 is a first-class webinar dealing with three popular money management methods. Vladimir has a unique way explaining them. This webinar enables traders to identify pros and cons of three widespread money managements methods in retail Forex trading.
Podcasts with Vladimir Ribakov
In addition to the webinars and books already mentioned, I’ve enjoyed listening to two podcasts with Vladimir Ribakov. You’ll find them on 52traders run by Cam Hawkins. Cam Hawkins is from New Zealand. He does a great job. The first interview with Vladimir Ribakov Forex Trading Debunked was recorded 18. Maj 2015 and the second is a follow-up BONUS interview recorded 19. October 2016.
What’s Special about Vladimir Ribakov?
If you ask how Vladimir Ribakov differs from other mentors/traders? I say: Vladimir Ribakov exemplifies what a person with English as a second or third language can achieve online. I respect and admire him for this reason. He has built an online business in the Forex industry, and he has been around long.
The Trading Robots
Vladimir uses semi-automatic trading robots. I have limited knowledge about trading robots because I trade without them. But I find the Vladimir Ribakovs arguments for using them legitimately. He says it’s often better getting the signal from a robot than keep an eye on the screen waiting for a signal. And, after taking the trade, a robot can manage it. Once, I saw a Danish documentary about ‘roofers’ from Ukraine and Russia. Roofers are people who climb high buildings without permission or security. Roofers are crazy. But they have a special view on fear. When the journalist asked the roofers, how they felt about fear when they climbed without any security, one climber said: “The most important aspect is keeping control when climbing. I get scared too. But when I find out how my fear works, I can control it. With the understanding, I can manage the fear. This goes for anything in life, not only fear of heights.” In my opinion, roofers are out of their minds, but I accept the climber’s explanation of fear and how to handle it. I’ve been scared of trading robots since I got into trading. After I’ve learned how trading robots work, I’m less scared. I’m also less afraid being scammed or blowing my account the more I learn about trading. The two books, the two webinars and the two podcast mentioned helped me becoming a better trader. I’m glad, I’ve written the blog post about Vladimir Ribakov. Vladimir Ribakov deserves mention on my blog since it’s a blog about the most inspiring retail trading material I know. To write the blog post was like saying thank you to a friend.Please remember to share this post with your friends on social media sites!See: My Business Model: Blogging & Forex Trading See: Philosophy and Forex Trading See: Tools for Lifestyle Freedom