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Space Summary
The Twitter Space session focused on guiding individuals through the complexities of trading, emphasizing the significance of understanding currency pairs, analyzing spreads, and implementing effective risk management strategies. The speakers stressed the importance of thorough analysis, patience, and consistency in trading practices to avoid losses and achieve success. Additionally, the community aspect was highlighted, showcasing the support provided by mentors and peers in the trading journey. Continuous learning, setting goals, and surrounding oneself with knowledgeable individuals were identified as key drivers for trading excellence. The session concluded with motivational words and encouragements for ongoing trading progress. Choosing the RIght Forex Broker, Forex Broker Regulation, Leverage, Trading Costs, and Customer Support were discussed in detail throughout the session.
Questions
Q: What is the importance of understanding the spread in currency pairs?
A: Understanding the spread helps in effective trading decisions and risk management.
Q: Why is analyzing the spread of various instruments before trading crucial?
A: Analyzing spreads ensures proper assessment of trading costs and potential profits.
Q: What role does risk management play in successful trading?
A: Risk management helps in minimizing losses and protecting capital in trading.
Q: Why is it better to miss a trade than to lose one in trading?
A: Missing a trade can prevent potential losses resulting from improper analysis or market uncertainty.
Q: How can mentors and guest traders support individuals in their trading journey?
A: Mentors and guests provide guidance, expertise, and insights, helping traders navigate challenges and make informed decisions.
Q: Why is consistency, discipline, and patience emphasized in trading?
A: These traits are crucial for maintaining a strategic approach, managing emotions, and staying focused on long-term success.
Q: What benefits can come from setting trading resolutions and goals?
A: Setting clear goals fosters motivation, direction, and progress tracking in trading activities.
Q: How does staying informed contribute to trading success?
A: Being informed helps traders make informed decisions, understand market dynamics, and adapt to changing conditions effectively.
Q: Why is continuous learning and striving for greatness essential in trading?
A: Continuous learning promotes skill enhancement, adaptation to market trends, and long-term growth in trading proficiency.
Q: How does being part of a trading community enhance trading experience and knowledge?
A: Being part of a trading community provides support, knowledge sharing, and networking opportunities, fostering growth and confidence in trading endeavors.
Highlights
Time: 00:07:42
Social Media Engagement, Encouragement to share the session link on social media platforms.
Time: 00:09:45
Show Introduction, Monero Abrahaman introduces the Traders Hub Show and its goals.
Time: 00:14:26
Guest Introduction, Dr. William Audion is welcomed to the session.
Time: 00:19:45
Key Factors in Choosing a Forex Broker, Discussion on what traders should consider when selecting a broker.
Time: 00:24:38
Role of Leverage, Explanation of how leverage works and its impact on trading.
Time: 00:30:34
Regulation Importance, The significance of regulation in ensuring trader safety and broker credibility.
Time: 00:39:34
Customer Service Attitude, Emphasis on customer service being a key aspect of trading success.
Time: 00:53:45
Advice for New Traders, Final take-home advice for new traders on mentorship and continuous learning.
Time: 00:58:04
Session Wrap-Up, Closing remarks and encouragement to follow for more episodes and updates.
Key Takeaways
- Understanding the spread in currency pairs is crucial for effective trading.
- Analyzing spreads of various instruments before trading is essential.
- Risk management is vital regardless of the currency pair being traded.
- It’s preferable to miss a trade than to lose one due to improper analysis.
- Consistency
- discipline
- and patience are fundamental for successful trading.
- Mentors and guest traders offer valuable guidance and support.
- Continuous learning and aiming for greatness are key for trading success.
- Setting trading resolutions and goals enhances focus and motivation.
- Being part of a supportive trading community boosts confidence and knowledge.
- Staying informed and seeking improvement lead to success in trading.
Behind the Mic
It. I got the spinning inside my bones it goes electric baby when I turn it on all come my city off of my home we’re flying up no ceiling when we in our zone I got that sunshine in my pocket without that good soul in my feet I feel that hot blood in my body and it drops ooh I can’t take my eyes above it moving so phenomenally feel that hot blood in my body when it drops I can’t take my eyes off it’s so phenomenally rocket just to let you. It’s a very clear and great policy that you put it first in the essence of customer service. That’s just how it should be reflected. Well, um, basically, if I, I, I’m in agreement with you. Is there a point also that you made mention about customer service should be among, should be broader, should be broader aspect of everyone just rather than. Yes. Okay. So for the people that know me, they know I have a policy. I always tell people that customer service is not supposed to be just top notch, but it has to be gold standard. And I can tell you that because any broker that doesn’t have it for me, you know, in choosing a broker, everybody has his own. What he actually puts first. For me, what I put first is customer support. And honestly, because I don’t joke with it, because your clients are the ones that are putting out your business out there giving you free publicity. Giving. I can tell you some people have traded, I’ve not traded with a broker because of the negative reviews. And those negative reviews came as a result of dissatisfaction from brokers. So if you don’t have a, if you have a very good customer support, it helps to give you free publicity. People want to be treated as a vip client. Clients wants to be treated as vip, which they are. So for the first things that I like to do any broker I work is to structure, create a structure for people to understand, for my colleagues to understand that customer service should be a lifestyle and attitude. It shouldn’t just be a position reserved for front desks, no, it should be an attitude. It should be a way of life for the staff that work for a forest brokerage. But I can tell you, most people have actually done businesses and we have many partners right now, that brokers have done everything for them to trade with what they say. No, the reason is because of what the relationship they’ve gotten from the customer support. And that’s why customer support is key, is very vital. The mistake we make, of which when I say mistake we make, I’m talking to us that are brokers. Also mistake we make is that we only think that customer support system or customer service should only be reserved by front desk or should only be reserved by online support. No, it should be a way of life, an attitude by all the staff. You know, no matter where you are, you should be able to offer a gold standard customer support. So I always tell people that whenever they want to engage in creating a forex brokerage or starting a forex business, they should have this aspect. In fact, right now I can tell you, let me say this is a free publicity to some other brokers, but I am engaged in three businesses right now for three brokers and our major focus is customer support. Selecting the right people, training the right people, engaging the right people and constantly monitoring the right people to make sure that they are actually giving my client the support they need because I can tell you that if a client trades with a broker and they have a very good relationship with the customer support, believe you me, they will bring more business, they will refer you to more people. So most of what we do is all encompassing and for some of the people I work with, you know it’s a project that they have that they might want me to come and speak or you know create a structure for them to actually understand this type of customer support system but because it’s a key business, it’s a very vital key business model that they have to do. So most times how I work is we engage customers from the back office, we give them the support, we direct clients, we engage clients, we communicate with clients, we make sure that they are happy. Most times what I do basically, I always tell people, I put myself in the position of the client. I put myself in the position of the client to say oh this is what the client, this is the feedback the client is giving, this is what I might need and you know for you also. So if you are staff or you are a worker or you are a manager, you should be able to put yourself in the position of your clients. So the relationship between customer and clients is like the inseparable cord that actually drives and gives you more profit at the end of the day. So basically that’s what I think in regards to customer service in every form. Okay. Um thank you very much, sir. I think that’s it. It’s just one of the key, yes, and that’s all I have to say. Thank you very much. All right, thank you, thank you so much, sir. Thank you. Thank you very much. Nero. I think it’s Nero there. All right. All right. Okay. So I don’t know if anyone, you know, in the audience, you know, have some questions to ask before Nero, you know, helps us to wrap this up. Yeah. Yes, I have a question. Doctor Williams is ambassador, ambassador manual. You did mention about brokers and its policy. So I want to know for the brokers that you assist, for you to choose a broker, what are the top three most important factors you consider? First for me, the key factors I consider in choosing a broker, first for me is regulation. Regulation matters a lot for me. I want to trade with a broker that is regulated. Yes. One of the factors it’s critical. Yes. Yes. No matter what two. Yeah, I do not, uh, the leverages, I know, I know a lot of people like to trade with high leverages, yes, but I think, um, there’s a, there’s a structure I follow. I don’t, I don’t, um, really need all those high leverages they give. Whatever it is. Yes. Yes. And the third factor again? Um, customer support, like I said, yes. Yes. Okay. Customer support. Thank you very much. All right. Okay. Um, if there are no questions, I will hand over to Nero. Thank you very much. And thank you so much. All right. Thank you so much. Thank you. Thank you. Thank you. All right. All right. So I want to assume there are no questions. So Ambassador William, I like to, you know, um, liken this, this, um, customer support, you know, issue of a thing. Like, I just remember very quickly, something that happened to me, like a couple of years ago. Um, it’s just a story. You know, when I was, you know, much younger, I used to work with a people center. Uh, basically. So there was just this particular company. I don’t know, there was always trainings and trainings and trainings. Everybody had this Profile we were supposed to follow how to attend to a customer call and all that, so as soon as you remember this whole thing about the customer experience being key, I think that’s also why so many people stay and that’s the reason why so many people leave Because I can tell you for a fact that I have had experiences where, you know, banks that don’t even know how to treat people. We also have experiences where you see banks, they call you, they ask questions to know how you’re doing. Like, what will it cost for you to just send a simple message, an SMS? Have somebody to just call and say hello. How are you doing today? Do you have any questions? Do you know sometimes these calls come through and I’m amazed, you know, that these banks, for one reason or the other, don’t even know that it’s as simple as just reaching out because it’s free advert. So I think it’s a very wonderful session and basically we just talked about customer support and how it matters a lot. And yes, before we go off, if there are no questions, um, let me give Nero, you know, the time to just, you know, handle the wrap up and then we can take up from there. That’s very important because we’ll be here every Monday, 07:00 p.m. same time, same place. So don’t forget to follow pro Baba effects. Don’t forget to follow Ambassador Emmanuel. Don’t forget to follow octa for more updates and educational content. Don’t forget to keep trading. Don’t be afraid. We have a lot of mentors, we have a lot of um guests who are here to hold your hands through the journey of trading. You know, don’t forget about your I resolution for this year. We are making more money. Making more money. So keep trading, stay informed and always strive for greatness until we meet next time. This is the traders offshore signing off. Do have a wonderful evening ahead.
