When I was first getting into Forex I searched youtube relentlessly for things like “Forex For Beginners” and “How To Get Into Forex” like any normal person would. But what I should have been looking for is things like “Best Forex Mentor” or “Best Paid Forex Educational Platforms or Courses”. If I had done that instead of trying to go the free route, in the beginning, I would have had a single path to travel from the beginning instead of looking for a needle in a haystack. Because I found many needles and I kept grabbing one dropping it and picking up another.
If you are going to get involved in forex dive in of course but learn the basics like setting up a demo account, learning how to place a trade, set a stop loss, take profit, etc. Then pick a strategy focus on that one strategy for as long as it takes to reach a goal. That goal can be doubling your account or maybe just getting to winning 8/10 trades. Whatever it is set it and do it and don’t move on until you do. We do have a free basics membership you can sign up for by CLICKING HERE that actually has some videos that show who I think is the Best Mentor in Forex.
So who is the best mentor in Forex? Of course I am going to be a bit bias but I am going with THE STEVE GREGOR. Why? Because he tells it how it is and doesn’t candy coat it in the least. Love him or hate him he will tell you the truth. He also teaches the New Paradigm of trading that includes making the most amount of money per pip while risking less then most traders do with their big fat stop losses. I know that doesn’t make since so signup for our membership and you get access to his Facebook Group that also has over 18,000 members at the time of this writing.
Who is Steve Gregor?
Nobody can answer this better than himself but I will do my best. He is definitely one of the most giving individuals that I have found in the forex game if you find someone else let me know. He goes into a scheduled 30-60 minute training session and doesn’t come out until everyone is satisfied that is sometimes up to 3 hours or more! Yes I am serious.
So I will start out with some accolades that show some of his history but again he does a great job of going through everything he has done and stands for.
Some of this accolades:
- Forex Trader Since 2003
- Forex Coach Since 2004
- PC Magazine Editors Choice Award Winner
- INC500 Fastest Growing Company
- First Technical Analysis Product on IBM PC
- First Over-The-Air, Real-Time Financial Quotes
Some of the things I personally know him for and have experience:
- Creator of Harmonic Wave Convergence
- Creator of Pitchfork Mastery Course
- Creator of Charlie-Delta Trading
He teaches only the New Paradigm of trading. He trades with precision by simply “Doing The Math”.
Here is a look at what he states about Old Paradigm VS New Paradigm:
The Old Paradigm
- Lagging Indicators (big slush)
- Everything Scaled Up
- Bigger Stop Losses
- Tougher on The Mindset (more stress)
- Slower Growth (can lead to burn out)
- Can be very stressful
The New Paradigm
- Real-Time Indicators
- Scaling doesn’t matter
- Tighter Stop Losses
- Higher ROI per pip gained
- Trades Average 3X, 5X, 10X profits of those using bigger stop losses
- Much easier on the Mind (trade like a robot)
- Fastest Growth Possible With the Least Amount of Risk
- Fun and exciting
I will quickly go over what New Paradigm Trading is or at least is in my eyes and what I have learned over the past 1 1/2 years from Steve Gregor himself. After that I will go through and briefly define the items I listed above on Harmonic Wave Convergence, Pitchfork Mastery Course and Charlie-Delta Trading.
What is the New Paradigm of trading? One thing New Paradigm trading shows you is that a PIP is not always a PIP. When a person takes a trade they set a stop loss and usually a take profit. But what is forgotten about by when somebody is a new trader or by those who say well I just made 1,000 pips this week! That’s great but what was your risk percentage and also what was your stop loss in pips?
Let’s say this person risked 2% and also had a 500 pip stop loss (exaggerating yes but to make a point) so that means they would have had a 4% return on that 1,000 pips. They are making 2% every time that trade goes 500 pips…
Which let’s be honest 4% return is not bad when you compare to your bank savings account which if it is at 2% you are considered very lucky these days.
When you use a fat stop loss of around 50+ pips this is considered old paradigm there isn’t really any precision there.
With the new paradigm, you are looking for a precision entry with a 10 pip stop loss on average. So what does this mean? That in that same trade of 1,000 pips if you used 2% risk into that 10 pips you would have made 200% again this is a big exaggeration but you get the point. You have the ability to make 3X, 5X, or even 10X the amount vs old paradigm stop losses.
50 pips stop loss you are getting 2% return every 50 pips or 10 pips stop loss would be 10% return over those same 50 pips which is much more reasonable.
This boils down to your Stop Loss being your PROFIT REGULATOR.
SMALLER STOP LOSS = MORE PROFIT PER PIP…
Most people would consider this scalping but not really what to call it. I guess you could call it scalping on steroids.
What he also teaches is how to get out with 2-5 pip manual stop loss. Which may not make sense at first but with the New Paradigm trading it either is a good trade or it is a no trade. So if the trade is going against you why not get out at 2 pips of loss instead of 10 or 50? Then you can always look for re-entry at the right time if that doesn’t happen then move on to the next good setup.
The easiest way I look at it is in the new paradigm you are setting traps waiting on price to come to you instead of chasing trades and hoping price does what you analyzed. Sometimes you catch a trade and sometimes the trade doesn’t come to the trap. You set alerts to go off when the trap has been set off so you can take the trade.
Last but not least in this little 30,000 foot view summary is that understanding will come with VOT or Volume Of Trades. You need to take live (demo) trades to see the new paradigm in action. You cannot backtest although you can draw pitchforks, TL.s and backtest harmonics but you cannot backtest most strategies they need to be traded live.
Creator of Harmonic Wave Convergence
Multi Timeframe Wave Exhaustion pinpoint accuracy with an indicator to boot that uses real-time data and 25 indicators (Lite Free Version For IML Members) so you can use down to a 3 pip stop loss.
Creator of Pitchfork Mastery Course
Steve Gregor has been trading since 2003 and Pitchforks specifically since 2006. So he has put together an amazing Pitchfork Mastery Course that covers everything you can involving them.
This training takes his years of learning, mistakes, successes and compresses it into a nicely put together trading course which sets you up for success.
You have two options for the course pay full price HERE (no affiliation or affiliate link = I get nothing if you purchase) or you can become a member of IML (iMarkestLive) by click HERE and get it for free. There is a free 7 day trial period (well worth it). Just make sure you are ready to trade before joining so you can make full use of your first 7 days.
Creator of Charlie-Delta Trading
Also Put Harmonic Strategy Called Quickfire On Steroids: