**Title: Interactive Lesson with Shikar**

**Introduction**
Good evening, everyone. Welcome to this interactive lesson. My name is Shikar, and I'm excited to guide you through a comprehensive learning experience.

**Overview**
We have a lot to cover, so please stay engaged and follow along closely. There is a great deal to learn, and I am here to help you through every step of the way.

**Personal Journey**
Let me share a short story about my journey in trading. I started trading in 2019 after recognizing the significant opportunity and skill it represents. Forex trading is indeed a major skill, and even though I am offering this session for free, it does not diminish its value.

When I started, I invested over 300,000 to learn. I know some of you have spent even more, yet your so-called mentors may have taught you very little. This is often because even mentors need mentorship. Many of them either copy others' signals or rely on luck.

**The Nature of Trading**
Trading is both an art and a science. It is an art because it requires creative and intuitive thinking, much like an artist. It is a science because it involves following scientific principles and methods.

**Recent Example**
Last week, I funded an account with $10, and it is currently at $83. Many of you are familiar with similar challenges, which demonstrates the potential of forex trading.

**Addressing Skepticism**
The idea that forex trading is a scam should be dispelled. There are many millionaires in forex trading, and you can be one of them. When I talk about being a millionaire, I’m referring to real, practical experiences, not just theoretical notions.

**Commitment Required**
Achieving success in trading requires hard work and learning. It’s not something that comes easily or for free. Every great achievement involves effort and persistence. I struggled for years before figuring out what was wrong, and my mission here is to help you find success more quickly.

**Class Structure**
This course will run for a month and one week:
- **First Two Weeks:** Elementary aspects of forex trading.
- **Third Week:** How to analyze the market.
- **Fourth Week:** Practical application of trading strategies.
- **Fifth Week:** Psychology training for traders.

**Understanding Forex**
Forex, or the foreign exchange market, is the global financial market for trading currencies. In Nigeria, for example, people trade currencies on the street. They buy currencies from banks and sell them at different rates, making money from the difference.

This is similar to what we do in forex trading, but with more advanced tools and strategies. We don’t need to find banks to buy from or people to sell to directly.

**Forex as a System**
Forex is not a scam; it is a way of living and a core component of every business. As long as you are exchanging one value for another, you are part of the forex system. For instance, even a seller of pure water is indirectly part of the forex system as long as their money reaches the central bank.

We can access a daily flow of about 6.6 trillion dollars in the forex market from our phones or laptops. The sheer volume of this market illustrates its potential. Understanding this can help you see forex as a crucial opportunity.

**Inclusion**
The foreign exchange market, commonly known as forex or FX, is the largest financial market in the world. It is a global, decentralized market where currencies are traded, and exchange rates change constantly.

Most currency transactions in the forex market are speculative. Currency traders buy and sell currencies hoping to profit from future price changes, much like how some Nigerians bought dollars hoping the naira would depreciate further.

**Comparing Market Volumes**
To put the forex market’s size into perspective:
- The New York Stock Exchange (NYSE) has a daily volume of $200 billion.
- In contrast, the forex market has a daily volume of $6.6 trillion.

This enormous volume means the market is vast enough to absorb significant trades without major fluctuations. Even if you lose a small amount, the market remains unaffected.

**Conclusion**
Your role as a trader is to learn how to claim your share of the $6.6 trillion daily flow in the forex market. The market is too large to be concerned with individual losses, so focus on developing your skills to succeed in this dynamic environment.

We will end here for today. Thank you for participating, and I look forward to our next session.
!

Online Forex Mentorship:
Trading Psychology:

An essential component of successful trading is psychology. By the term psychology we refer to the state of mind a trader should have while trading. More specifically, trader psychology deals with

1. Control of trader’s fear
2. Control of trader’s greed
3. Trader’s discipline.

Why We Trade:

Trading is a highly exciting activity. The trouble is that it is hardly possible to feel excited and make money at the same time! Think of a casino where amateurs celebrate over free drinks, while professional card counters coldly play game after game, folding most of the time and pressing their advantage when the card count gives them a slight edge over the house.

To be a successful trader, you have to develop iron discipline.

Psychological Trading Issues and Their Causes:
1. Fear of being stopped out or fear of taking a loss: the usual reason for this is that the trader fears failure and feels that he can’t take another loss. The trader’s ego is at stake;
2. Getting out of trades too early: relieving anxiety by closing a position. Fear of position reversal and as a result, feeling let down. Need for instant gratification;
3. Adding on to a losing position (averaging down): unwilling to admit your trade is wrong and hoping that it will come back. Again, the ego is at stake;
4. Wishing and hoping: not wanting to take control or responsibility for the trade. Inability to accept the current market situation;
5. Compulsive trading: drawn to the excitement of the markets. Presence of addiction and gambling issues. Needing to feel you are in the game;
6. Excessive joy after a winning trade: relating your self-worth to the markets. Feeling unrealistically “in control” of the markets;
7. Limiting profits: feeling that you don’t deserve to be successful, to have money, or to make profits. Usually, psychological issues such as poor self-esteem;
8. Not following your proven trading system: you don’t really believe it works. You did not test it well. It doesn’t match your personality. You want more excitement in trading. You don’t trust your ability to choose a successful system;
9. Over-thinking your trade, second-guessing your trading signals: fear of loss or being wrong. Wanting a sure thing where sure things don’t exist. Not understanding the fact that loss is part of trading and the outcome of each trade is unknown. Not accepting the fact that trading imposes risks. Not accepting the unknown;
10. Not trading the correct position size: dreaming that the trade will only be profitable. Not fully recognizing the risk and not understanding the importance of money management. Refusing to take responsibility for managing your risk;
11. Trading in excess: need to conquer the market. Greed. Trying to get even with the market for a previous loss. The excitement of trading (similar to compulsive trading);
12. Being afraid to trade: no trading system in place. Not comfortable with risk and the unknown. Fear of total loss. Fear of ridicule. Need for control;
13. Irritable after the trading day: emotional roller coaster caused by anger, fear, and greed. Giving too much attention to trading results and not enough attention to the process itself and to learning the skills of trading. Focusing too much on money. Unrealistic trading expectations;
14. When trading with money you can’t afford to lose, or trading with borrowed money: last hope for success. Trying to be successful at something. Fear of losing your chance for the opportunity. No discipline. Greed. Desperation.

These are by no means all the psychological issues – but they are the most common. They usually center on the fact that, for one reason or another, the trader is not following his chosen trading approach or system but wings it, or trades his own emotions, which is a no go. As you see, psychology in trading is vital.