BELOW YOU WILL FIND SOME ABSOLUTELY CRITICAL INFORMATION

FOR YOUR LONG TERM TRADING DEVELOPMENT.

THIS INFORMATION IS MORE IMPORTANT THAN ANY INDICATOR, ANY EA

OR ANY STRATEGY THAT YOU CAN BUY. AND LONG TERM, THIS INFORMATION
WILL BE THE DIFFERENCE BETWEEN WINNING AND LOSING.

Joe Lastre
Senior Trading Manager
ScorpionFX.com

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First, I want you to be aware of the following:

Our company has worked with THOUSANDS of retail traders over the years. And I (personally) have been trading for almost
30 years. During this time, I have had the opportunity to work with (and around) hundreds of professional traders and analysts.
Including some EXTREMELY talented institutional traders. And I have personally known several dozen traders who have started
out as retail traders and have eventually become MULTI-MILLIONAIRES.

In addition to this, over the years I have seen (and I have made) every possible trading mistake that you can think of.
So overall, I have personally witnessed (and experienced) both the highs and the lows of trading. And I know EXACTLY
what you go through as a trader.

Therefore, you can rest assured that the information that I share with you here comes from a culmination of HUNDREDS of
sleepless nights. And an enormous amount of blood, sweat and tears that I have invested into the market over the years.
I will not sugar-coat anything for you. And I will not waste your time with any hype or any nonsense.

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THE REALITIES OF TRADING THAT YOU NEED TO BE AWARE OF:

THIS JOURNEY IS VERY, VERY DIFFICULT AND IT TAKES
AN ENORMOUS AMOUNT OF TIME AND EFFORT.

Brokers will always make it seem like trading is an easy way to get rich. But you have to remember that brokers are NOT your
friend. And they just want you to open an account so that they can take all of your money (through spreads and commissions).

And here are a few points that EVERY retail trader should be aware of:

1) No matter what anybody tells you, trading is NOT easy and there are no holy grails.

2) Having access to the right indicators can be extremely valuable. As the best indicators
can help you find (and filter) the best possible trading opportunities. And they can save
you an enormous amount of time and effort, as they can scan the market on your behalf.

But there is no indicator (in the world) that will magically make you rich. And you will always
have to figure out how to use your indicators in your own way and create your own strategies.
3) Without proper position sizing, you are GUARANTEED to go broke (long term).
It does not matter which strategies you apply, which indicators you use or how
skilled you are. And you will find further details regarding position sizing below.

4) Without proper risk to reward ratios, it is extremely difficult to be successful (long term).
And you will find further details regarding risk to reward ratios below.

5) Without emotional control and self-discipline, you are GUARANTEED to go broke (long term).
Again, it does not matter which strategies you apply, which indicators you use or how skilled
you are. And you will find further details regarding emotional discipline below.

Overall I can tell you the following with 100% certainty:

NO ONE comes into this game and makes money (consistently) right away. Therefore, do not let any of these online vendors try
to convince you that trading is easy. Or that you will double your account every couple of weeks/months. These people are lying
to you and they are simply trying to get you to buy their products. Trust me.

No one is going to sell you a ‘magic indicator’, a ‘secret chart pattern’ or a ‘holy grail strategy’.
Those things simply do not exist.

The only people who can (potentially) make money right away are the guys who are sitting on an institutional desk, processing
orders for large clients. But those guys aren't really 'trading'. All they're doing is scalping the market around the orders that they
see in the order book.

And in addition to this, they are FORCED to follow whatever strategies are outlined by their employer. So it's not even a fair
comparison to compare those traders to typical retail traders.

And if you took those guys off their institutional desks, they would struggle EVEN WORSE than the typical retail trader. Simply
because they don't have access to the order books (a big crutch). And they wouldn't have their boss (and their risk department),
FORCING them to follow the strategy and remaining disciplined.

So if you get ANYTHING out of this conversation, it should be this:

Be patient with yourself and always keep in mind that it is ABSOLUTELY NORMAL for this process to take time.
And I STRONGLY RECOMMEND that you watch this quick video (only 10 minutes), to give you a better perspective
of the kind of work and the factors that are necessary.

https://youtu.be/KWC9kFle6PE
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WINNING PERCENTAGE, RISK / REWARD AND PROFITABILITY:

This is one of the primary reasons why the professionals make money every year.
And long term, this is a VERY, VERY important factor.

Always keep the following in mind:

The best traders in the world only win between 55% - 60% of their trades (long-term). And I repeat, these are the best traders in
the ENTIRE WORLD. Therefore, successful trading is NOT a matter of winning every trade. It's simply a matter of keeping your
emotions under control, managing your losses, remaining disciplined and making sure that all your trades have a positive risk to
reward ratio.

So for example:

Let's say you have a simple strategy that wins 50% of the time (a basic coin-flip). At a 1:2 risk/reward, your take-profit could be
100 pips and your stop-loss could be 50 pips. So if you have 50 winners with a take-profit of 100 pips, you will earn 5000 pips.
And if you have 50 losers with a stop-loss of 50 pips, you will lose 2500 pips.

So in the end, you will be up by a whopping 2500 pips. And you were basically just flipping a coin!
See what I mean??

And if you do the math, you will see that this will be profitable even with a strategy that wins only 35% of the time.
So just imagine how much money you'll make if you are winning between 55% and 60% of your trades??

All the additional trade filters and trading rules are simply enhancements that will hopefully boost your winning percentage.
And get you more overall pips. But the fundamental principle of risk to reward is CRITICAL to your long-term success.

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LONG TERM, YOUR EMOTIONS WILL BE RESPONSIBLE FOR

AT LEAST 70% OF YOUR TRADING RESULTS. AND YOUR SYSTEM
WILL ONLY BE RESPONSIBLE FOR 30% (AT MOST):

Retail traders tend to screw up because they become either impatient, fearful or greedy. And they will either jump into trades
that they had no business in. Or they will get out too early and leave money on the table. Or the worst one, they want to hit the
next home-run and trade too big.

Lack of emotional control destroys more accounts than any other factor. And the problem is rarely the platform, the indicators
or even the strategy itself. The problem is almost always in your own psychology.

So my sincere advice to you is the following:

Read EVERYTHING you can on trading psychology. And watch ALL THE VIDEOS you can on YouTube.
Invest the next 1-2 years on this subject and trust me, this will pay-off big time during your trading career.

In fact, through our own training-program, our trading-instructors spend the majority of their time with our clients,
on the aspect of psychology. As we realize that this is THE MOST IMPORTANT issue.
Not the indicators, not the strategy.

Psychology is the key.

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AND FINALLY, THE MOST OVERLOOKED PIECE OF THE PUZZLE:

Regardless of the system.
Regardless of the trader.
Regardless of ANY OTHER FACTOR...........................

Without proper position sizing (money management), you are GUARANTEED to go broke.

Trust me, some of the smartest people in the world have (at one point or another) been hired by the big players on Wall St.
With the sole purpose of finding the 'holy grail'. And everyone, from rocket scientists to nuclear engineers, to triple PhD math
quants (and everyone in-between) has failed.

Keep in mind, we're talking about thousands of highly-qualified people with astronomical IQ's, from the most prestigious schools,
backed by limitless budgets. And yet, no one has been able to create a fool-proof system that wins 100% of the time.

Therefore, what does this tell you??

It means that we will always have losses. No matter what we do. So we need to accept these losses. Keep them as small as
possible and NEVER, ever, ever risk too much on any particular trade. No matter how certain you are of the outcome.

So in addition to psychology, also focus on position sizing (money management). Read EVERYTHING you can and watch
ALL THE VIDEOS you can on YouTube. Trust me, the time you invest in this will make the difference between long term
success and failure.

THIS IS SO IMPORTANT, THAT I WILL REPEAT IT ONCE AGAIN:

Regardless of the system. Regardless of the trader. Regardless of ANY OTHER FACTOR...........................
Without proper position sizing (money management), you are GUARANTEED to go broke.

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REFERENCE SOURCES FOR FURTHER STUDY:

(BOOKS, VIDEOS, COURSES ETC.)

There are a number of qualified individuals out there who can help you in the areas of trading psychology and position sizing.
And the goal is to find the person who you feel most comfortable with. But I am constantly asked for specific recommendations
regarding books to read or courses to take. And below are a few names that can get you headed on the right track.

1) Van K. Tharp
2) Mark Douglas
3) Rande Howell
4) Brett Steenbarger
5) Gary Dayton

PLEASE NOTE:

This list of reference sources is not exhaustive by any means. As there are numerous qualified individuals out there who can
help you in these areas. And the numerical listing here does not imply that any of these guys are any ‘better’ than any other.
All of these individuals can get you headed in the right direction. And the primary goal is simply to find the person who you
feel most comfortable with. As different approaches (and teaching styles) will generally tend to resonate with different traders.

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I sincerely hope you find this information helpful for your long-term trading development.
And I wish you nothing but the best in your trading journey.

Respectfully,

Joe Lastre
Senior Trading Manager
ScorpionFX.com