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Comprehensive, 'all-in' online mentoring for persons serious about forex trading.
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Untiming Forex Trading

Course by DrForex


A practical trading course based on Bird Watching in Lion Country Forex Trading Explained.
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Learn to use forex fundamentals in your trading.
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Bird Watching in Lion Country

Forex Trading Explained


Dirk du Toit's original, top selling, globally loved, forex trading ebook.
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"Forex Thoughts" Articles

by Dirk du Toit


Thought provoking and informative articles about forex trading.

Forex Thoughts articles by Dirk du Toit


The Forex Market

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FX Brokers vs FX Traders

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Forex Analysis

SloGroPro Forex Trading Course

BWILC SLOGROPRO FOREX TRADING COURSE

Bird Watching in Lion Country - Retail Forex Trading Explained became an iconic e-book since its publication in 2004.

BWILC addresses in a "no-holds-barred" manner the problems individual traders face in the forex market.

Forex Brokers need large trading volumes by their clients to succeed. If they don't get large trading volumes they simply don't have a business.

Thus, forex brokers have created a vast army of forex "marketing wizards" to spread the gospel of high volume trading.

This, however, is the poison chalice for the traders, who are lured into believing intra day trading on colourful forex charts, with pinpoint accurate entries and exits of trades is the only way to have success in the forex market.

This is unfortunately untrue. Not only is it untrue, it also is the root cause for why most forex traders never ever make it even beyond a demo account. Of those who make it past a demo to a micro or small real money account, most experience the same problems, now just with their money on the line, which totally transform the mental and psychological aspects of their trading.

Luckily there is an alternative (sensible, do-able, practical and in many cases very profitable) way to trade forex.

The BWILC SloGroPro Forex Trading Course teaches this alternative way to trade forex.

BWILC - Principles underlying successful forex trading

Forex marketers put forward a specific "picture" of what forex trading success is and how to get it.

I call this the popular forex trading paradigm.

They say, even if you have absolutely no clue about trading, forex trading or anything to do with the financial markets:

  • Forex trading is not difficult at all.
  • You certainly don't need a lot of money,
  • but you can make a lot of money very soon based on the wonders of "leverage".
  • You don't need any specialist knowledge, especially not anything that sounds difficult or take time to master to any degree.
  • Instead, all you need is colourful charts with some preset indicators.
  • They tell you that you "can trade in any timeframe of your choice".
  • They tell you you can perfectly time your entries and exits (trades), doesn't matter what the timeframe.
  • Don't fear losses (like the multitude of losers) just "manage your risk" with "stop-loss orders" to "risk no more than 2% of your account on any one trade". (And with that they make you think you have solved the primary issue of finance and investing - the issue of "RISK").

The BWILC principles are directly opposed to this popular approach to forex trading:

BWILC stands on a totally different base:
You cannot time this market like that. Point.
You have to spend time IN the market.
This different base changes EVERYTHING.

To change is a matter of a "complete forex makeover," starting at the deepest foundations.

  • As an example: "marketing wizards" aka "forex brokers": It is absolutely necessary to understand that a forex broker is much less of a risk as your counter party than it is as a "marketing wizard".
  • Another example: "leverage." People have no clue what leverage is and how it impacts every aspect of their trading attempts. Most people confuse leverage and margin and as such struggle to grasp the extent of the risks they take.
  • A last example: "randomness / unpredictability" People just wouldn't accept that they can't use simplistic maths (behind all the technical indicators) on limited historical prices to perfectly predict what the market would do.
  • And I can't omit this one: "trading as business" People thought, just because it is trading, certain common sense business principles magically don't apply. In no other business context would they do the kind of stupid things forex marketing wizards suggest to them!
  • The most important is this: Technical Analysis is only useful in isolation from other analysis methods if it was possible to time the market like that. When you make the change you have to use technical analysis in conjunction with other analysis of the markets (relational analysis).

Crossing the divide between forex trading theory and practice

In theory forex trading is the answer to all your trading wishes!

Forex marketing wizards (aka forex brokers) have all the answers to convince you to trade forex the way they want you to. They have saturated the market with information / advice / training / courses / ebooks / webinars / videos / everything you can think of about how trading works.

  • Want to trade but work full-time? No problem - 24 hour market!
  • Want to trade forex but have no economics knowledge? No problem - only need to learn technical analysis!
  • Want to trade forex but don't want to sit in front of computer the whole day? - No problem, "work" only 15 minutes a day!
  • Want to trade forex for a living but have little money? - No problem, use leverage to make lots of money with little money!
  • Want to trade forex but don't want to risk losing money? - No problem, use stop-losses and never risk more than 2% on any trade!
  • Want to trade forex but don't know how? - No problem, with so-and-so system, you will know exactly what to do and when and you can start making money "next week"!
  • Want to trade forex but don't know which broker to use? No problem, use So-and-So broker, they have great customer service and is "regulated"!

The theory of forex trading, which you get for free, or a-dime-a-dozen (ebooks, courses, classes, videos, webinars) and the harsh reality of making trading decisions in an highly uncertain, always changing environment are two very different kettle of fish.

In my experience you can cross this divide:
  • If you dismiss the idea that "trading is easy".
    • Trading is not easy. It is extremely tough mental labour.
  • If you forget about "instant gratification".
    • You will not know if you will be successful after a month of demo trading.
  • If you are prepared not to take any word a forex marketing wizard utters serious.
    • Forex brokers are not charities! You are on your own and you are responsible!
  • If you can truly adopt a "long term" mindset.
    • You need to think and plan years ahead! Prepare! Set goals! Work! Whatever it takes!


Why Slow-Grow-to-Pro(fessional Trader)?

Let me just give you some background first.

My interest in what's going on beneath the boot of the financial markets started way back in 1991/2 when I was a trainee financial advisor. I was supposed to give people advice on why to invest in a certain company's products. I quickly learned that it is all smoke and mirrors.

What they wanted me to do and what I was prepared to do were different at a fundamental level.

What triggered this "clash" was the difference between the true returns generated by the investments and how returns were communicated (after it has been "manufactured & manicured").

I aligned myself with the potential clients. I saw myself as a teacher first and an advisor (and sales person) second.

In 1998 I began to trade for a living (margin trading in the government bond market). In 2001 I became aware of the "forex trading craze". Because I had a long-standing understanding of what goes on beneath the boot and behind the smoke and mirrors it was totally natural for me to become a teacher / advisor in this market, while aligning myself with the "risk free" income opportunities offered by the forex marketing wizards (aka forex brokers)!"

Seeing behind the smoke and mirrors

In the original BWILC I said the first "professional" people I met in the forex trading industry were professional marketers. The one was a "introducing broker" (a salesperson for a broker), the other one was the marketing manager of a well-known (USA based) forex broker.

Their business model was simple. They needed a lot of people to do a lot of trading in double quick time. Because it is "online" trading, the main frontier was unexplored (and "clueless") global markets like South Africa and many others.

What they wanted me to do and what I was prepared to do were different at a fundamental level.

They wanted me to spread their message of quick success with high leveraged trading and all you need was an introduction on how a trading station worked and some technical analysis on intra day charts, trying it on a demo account that expires in 30 days and you were supposed to be ready to make a lot of money with little money and make all your dreams come true.

Yet again I aligned myself with the potential clients. I saw myself as a teacher first and an advisor (and sales person) second.

The SloGroPro approach is the exact opposite from what forex marketing wizards want you to believe. Forex brokers are not interested in a mindset (yours) that opposes 'high volume trading', 'very short term goals', 'instant evaluation of "good / bad" system' (in order to move on to another one and repeat ...), "holy grail" thinking (there is a magic method to be found), "charts / technical analysis" is not optimal (on its own) etc etc etc

Forex brokers want you to believe it is quick and easy; leverage is the magic potion; you can trade every day, hour, or 5 minutes, or minute if it pleases you.
They want you to believe with their charts and their technical analysis tools you can perfectly time the market - irrespective of the timeframe of your choice!
They want you to believe they cater for all your "special" needs!

"Surely they won't survive if all their clients lose all the time"?

It is a real good question, but they actually can. Quite easy.

Clients must just have a very very short term mindset
about every aspect of their trading efforts.

The marketing about what the clients should do to be profitable "compresses" everything with a combination of "high leverage" and "very very short term intra day time frames" so much that traders continually think "success" and profitability is just around the corner. By the time the trader figured out there is a problem, several others have stepped in and started to "feed the system" with their money. Forex brokers know most clients' first deposits won't last long.

They are completely neutral about that and about individual traders (unless you have a noticeable large account, but that is another story). But as long as the current clients do high turnover trading for long enough to allow others to enter and then support (the broker's business plan) (like the current ones) this "apparently doomed business model" will work for them.

My approach to trading is "SloGroPro" because it is the exact opposite of what the forex broker wants. What they want work for them and not for individual clients, with identities and aspirations and goals and things they want to achieve with forex trading.

SloGroPro means you step out of this process described above.

  • You are not trading to feed the broker.
    • Don't allow them to make their problem your problem.
  • SloGroPro is all about thinking about a process over time,
    • SloGroPro is about sustainability, laying a foundation, building on it, taste the benefits over time.
    • SloGroPro is about first preparing the ground,
      • then seeding the ground, watering and nurturing the harvest and
      • eventually, in time, harvest in abundance.
  • SloGroPro is also about turning "pro". As in most other fields turning pro takes time and effort and is not guaranteed.
But you can't turn pro if you can't get past the first few weeks or months or years...

The BWILC 2016 SloGroPro Course Structure

The BWILC 2016 Forex Trading Course is based on BWILC 2013 and develops and explains some of the concepts, most relevant to trading an own account according to the BWILC principles, further in a course of more than 20 trading lessons.

Lessons consist of explanations and clarifications of content referenced in BWILC (2010).

The lessons follow a process of laying a proper foundation to understand why the "popular trading paradigm" is problematic and how it is addressed in the SloGroPro forex trading paradigm.

Then we look in detail at the parts that from the whole of the BWILC SloGroPro approach.

Simultaneously we introduce the concepts "real-time" and "relational" analysis.

"Real-time" and "Relational Analysis" is everything the popular trading paradigm's marketing wizards tell you "is in the price", that you can according to them simply ignore (because it is in the last price)!

Most lessons involve the participant to respond to certain questions and do certain tasks.

Model responses or "group wisdom" (a compendium of previous responses) are provided for most of the tasks.

You are lead by the course structure and order of presentation and content to form a comprehensive approach to trading the forex market with a non-timing, non-technical analysis dominated approach.

Once the course is completed you should be in a position to trade on a demo or real account according to the broad principles and framework described in BWILC.

More about relational analysis in the 2016 SloGroPro Course

Relational analysis

Marketing wizards like to say you don't have to concern yourself with fundamental drivers behind prices. They say all the information is in the last price, therefore you don't need the information just the path of prices up to the current time.

The above sounds wonderful, especially if your USP (Unique Selling Proposition) is real-time forex charts.

There is just one problem. It is rubbish.

                      • Goncalo Moreira CMT- Feb. 2013

BWILC introduces the concept of relational analysis as the best method to analyse the forex market.

Relational analysis is about the detail in the prices. It is about linking prices, fundamental drivers and market sentiment and only then making trading decisions. It is about relating price - event - time.

In this course there are some lessons introducing the important aspects of relational analysis. BUT just as it is impossible to teach the practical application of technical analysis on a day to day basis in theory, the teaching of and learning of relational analysis can only be done over time and with practical day to day experience as the market continuously develops.

Let me explain the latter. There are excellent "relational analysis type" services available. It usually consists of a combination of technical analysis and a discussion / interpretation of fundamental drivers which happen to be in the financial news at the time. Some of these services are free and available on blogs. Some are really inexpensive and others are in the range of $100 to $300 per month. The problem with all of them is that they only provide information (analysis) and it is mostly not forex specific. The bottom line is the analysis needs to be analysed / judged / internalized in a traders own system. And you can only do that if you can do it!

  • My relational analysis is first of all for a closed audience: persons who share the SloGroPro approach to forex trading.
  • Relational analysis doesn't stand loose from other elements of the SloGroPro approach, the application of the 4x1 strategy, the use of median grids, even our whole mental conditioning.
  • In addition to the fact that my relational analysis service incorporates all of this it has an educational and training component. I absolutely want you to be able to do this yourself. But it takes time.

    I have been doing this since 1998 and still many times I just shake my head in disbelief for how the market could decieve and conceal its intended path!

    In order to introduce this critical aspect of the SloGroPro approach in your BWILC 2016 SloGroPro Forex Trading Course you get in addition to the relational analysis theory in the course, a three month subcription to my Weekly Relational Analysis briefings and share in the "real-time" teaching I provide to my personal mentoring clients and other subscribers.

    The subcription period as part of the 2016 SloGroPro Forex trading Course is three months, but you can also choose a one year option from the start.

    BWILC 2013: Some practical questions answered

    Do I get BWILC 2010 if I buy the course?

    Yes. In fact, you can get it free of charge, without buying the course (see below).

    I have BWILC 2004, do I have to pay the full price for the 2016 SloGroPro Course?

    Yes.

    Can I start at any time and is there a time limit to complete the course?

    Yes, you can start at any time. No, there is no time limit to complete the course work. You work on your own.

    How does the Weekly Briefings work?

    For many years I have provided Daily Briefings to personal mentoring clients. On Mondays the Daily Briefing is more comprehensive since you have to take stock of developments in the previous week and consider the scenarios for the new week. I have developed the Monday Briefing into a subscription service during 2010. It is still going strong and ideal for first months of doing relational analysis and learning how to do it in real-time.

    Do the weekly briefings start at the same time as the course?

    You will receive a subscription link at the appropriate time during the one month course delivery period. The subcription will be valid for three or twelve months according to your initial choice. You can decide when you want to start the subscription. My advice is that you start soon after you got it.

    How does the feedback work?

    A few days are allowed to complete a task, then the model answers or "group wisdom" feedback is emailed to you.

    Can I get personal feedback?

    Yes, but you will have to purchase a "personalization module".

    What does the personalization module practically entail?

    It is very structured around specific goals, your reporting of progress, my evaluation and feedback. There can also be ad hoc discussions / sessions. Communication mainly via email, Skype instant messenger and to a limited extent voice.

    It is very much like a short period of personal mentoring, starting when you have completed the theoretical part of the course.

    What is the cost of the personalization module?

    Personalization involves my personal time. Signup fee for personalization is $300. This consists of an assessment of your status quo and mentoring for one month. Thereafter the fee is $200 per month or $400 per three months.

    Why do you say the personal mentoring "Class of 2016" is preferable?

    It is real-time personalization right from the start and it continues for a much longer time. In the trading environment, where uncertainty dominates, the value of "real-time" communication is priceless.

    Can I later upgrade to the personal mentoring "Class" and what will the cost be?

    Yes. There will be an approriate discount for previous personal mentoring periods completed or special offer discounts. Look out for them in the 2016 SloGroPro Course material.

    For any other questions, or to contact us please email dayforex (@) gmail dot com.


    After payment you will be able to subcribe to the distribution list to receive your 2016 SloGroPro forex trading course material.

  • BWILC 2016 SloGroPro FOREX TRADING COURSE OFFER DETAIL



    BWILC 2016 SloOGroPro FOREX TRADING COURSE & One year Weekly briefings included

    $429

    After payment you will be able to subcribe to the distribution list to receive your SloGroPro course material.

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    Thank you!

    Last Updated 2021/02/08 © 2001-2021. DayForex. All rights reserved.