FOREX SIMPLE STRATEGY PART 2

In this post we want to show you how to learn this Forex simple strategy. Not only will you learn it you will also be internalizing the strategy and making it a part of your trading skill set.

So you can watch the following video as well as read the rest of this blog post to get the concept of how to learn this Forex simple strategy and any other strategy you are wanting to learn.

To get the setup for this simple strategy go to forexstrategysecrets.com sign up for the free webinar and you will be sent the setup instruction for the Jump Start simple trading strategy.

We use three time frames to work the strategy the four hour, the one hour, and the 30 minute time frames.

What you’re looking for is when the MAO, that is the bottom oscillator, crosses the zero line, either going above or below the zero line.

First find the direction you’re going to be trading using the four hour time frame. You take the anchor and put it on the right-hand side of the chart and then you go back in time where you don’t know which way the charts are going to move. Then you practice hitting the F12 key, which moves the chart 1 bar at a time.

You’re looking for the area where the MAO crosses above or below zero line so you can determine which direction you’re going to be trading. Once this comes easy for you to wait until the line crosses the zero line then you can start using the other time frames to find trades to enter.

So you first look on the four hour chart find the place where the MAO crosses above or below the zero line. When you get a fresh cross and you mark a vertical line at that point.

Now you go to the one hour chart and see if it confirms with the one hour MAO being on the right side of the zero line. If the one hour is on the same side of the zero line as the four hour chart then you go to the 30 minute time frame to find an entry where the 30 minute has a fresh cross on the MAO in the same direction the four hour chart was going.

This will give you a high probability entry set up you draw a horizontal line marking the place where you would enter the trade then you go to the one hour chart to manage the trade.

What we mean by managing the trade is your waiting for the moving averages, or the hotlines, to cross going the other direction this will be your exit signal. At this point you put another horizontal line where you would be exiting the trade you calculate whether it is a winning trade or losing trade and record on a piece of paper the number of pips won or lost.

Once you get used to using this method of finding high probability trades in the simulated trading exercise you will be able to find many trades in 15 to 30 minutes a day.

When you feel you’re proficient at doing the simulated trading you may then move on to demo trading. Take as many demo trades as you can on as many different currency pairs when you find the proper setup.

What you have completed 20 trades calculate your win loss ratio to see how you’re doing. Do this 20 trade exercise 3 to 4 times that would be 60 to 80 trades. By the time you complete this exercise you should have a good understanding of how to find high probability trades. You are the point now where you can decide if you feel comfortable moving on to live trading.

You can use the same method of simulated trading to learn any strategy. The advantage of doing simulated trading is you get a lot of experience in a short period of time with little stress and emotion, you become a mechanical trader.

Be sure and watch the video as many times as necessary make sure you understand how to do simulated trading. We find that are most successful students do simulated trading on a regular basis. Posted music struggle bypass this step it takes a lot longer to grasp any trading concept there trying to learn.

The key here is to discipline yourself to gain trading skills so you can put them into action in a short period time.

META-TRADER 4 PLATFORM, HOW TO OPEN A DEMO ACCOUNT, ON THE META-TRADER 4 PLATFORM BUILD 600

META-TRADER 4 PLATFORM, HOW TO OPEN A DEMO ACCOUNT, ON THE META-TRADER 4 PLATFORM BUILD 600

In this blog post we will walk you through opening a new demo account, changing the password, and initiating one click trading. The one thing that is different in Meta trader 4 platform build 600 is the one click trading.

To see how to do the step-by-step procedure for each of these tasks you can watch the video and also read the blog post.

First thing you do is go to file in the top menu then scroll down and click on open an account. This will give you a demo account only. You have to open up your live account through the broker.

The first box of pops up will ask you to choose a demo account you need to make sure in the column marked ping that you have a number if you have zeros and you need to click scan, if you have numbers then you click next. Then hit next on the second box.

The next box that pops up is an information box and asked for a name you want to name the account your opening. I like to name it with the strategy that I’m going to be trading and then put the date. Just fill out all the other information and then choose either a standard or a mini account, choose the leverage, and be sure and put a check in the box next to ”I agree to subscribe to your newsletters”.

In the box where it says deposit it will have a default amount you may choose any amount you would like, we suggest choosing an amount close to the size of the live account the you will be opening and then click next.

At this point you should get a box that says registration you will see your login and password then you click finish. We will going over how to change your password in just a little bit.

Once the account is open in the terminal section at the bottom of the platform it will take you to the mailbox and you’ll see where it lists registration in the top line. You can now click on the word registration. The username and password information will come up where you can copy that information. We suggest you copy and past into a word document. This makes it easy to go back in and copy and paste the password when you want to change it

Go to the top menu again and click on tools from the drop-down box click on options in the pop-up box. From the drop down box make sure your clicked on the server tab. This is usually the first tab on the left. You’ll see where it says login; you will see your account number and password. Off to the left you’ll click on the change button.

From this pop-up box you enter the current password this is where you go to the word document and copy and paste the current password make sure it’s checked change master password and you enter your new password you need to have at least two of the three character types present which would be lowercase, uppercase, or a digit. You will also need to confirm the new password.

You click okay it’ll take you back to the previous pop-up box if you want to change the investor password you need to click on change again enter the master password again click on the button next to change investor password enter a new password and confirm then click okay

The investor password is used if you want someone to view your account and not be able to make any changes. If you don’t care whether they are able to make changes then you don’t need to worry about the investor password.

Close the change password box which will take you back to the options box from here you click on trade in the top menu. You’ll see a column of circles leave them the way they are marked. Make sure you put a check in the box titled one click trading then click okay.

This feature allows you to enter a trade with one click you can click on the line designating your trade location and drag to a stop loss position or a take profit position this is really a fantastic feature it allowed you to click on the screen and change your stop loss and take profit as well.

Hope this is was of help to you and thanks for visiting our blog

PLACING ORDERS ON THE MT 4 PLATFORM Build 600

PLACING ORDERS ON THE MT 4 PLATFORM Build 600

There is a very simple process and sequence to follow in order to setting up your MT four platform so it will allow one click trading. One click trading is a new feature on the MT four build 600 platform.

You can watch the video to see how each process can be used.

First click on tools from the top menu then click on options from the drop-down box. When you get the options pop-up box click on trade in the menu bar. The last button in the colum you see one click trading … put a check in the box then click ok.

Now you’re ready to proceed with the different ways to place or opening orders using the new one click trading tool.

You can go to the icon menus just above the chart area and click on the new order icon. When the new order box pops up make sure you select the currency pair you want to trade and the lot size you’re looking for. Then you click on the red button or the blue button and with one click you will have placed an order.

Now you can go to the market watch area right click on the currency pair you want to trade and from that pop-up box you can click on new order once your order box pops up you can place your order.

You can also click on the F9 key which will open the order window and you can place your order from that pop-up box as well.

You can double-click on the currency pair in the market watch to place your order from that pop-up box. This method saves you the time of selecting the proper currency pair you wanting to trade.

In the upper left-hand corner of the chart area you will see a little triangle pointing down if you hover over the triangle it says “click trade panel”. After you click this triangle it pops up a box where you can see a buy and sell feature and the price of the currency. In between those two buttons you will see the place where you can select the lot size and tjen click on either buy or sell and your order will be placed. You can leave this box up all the time and place a trade on the currency pair you are viewing in the chart.

One method you can use is to click the button two or three times and place two or three orders, the technique here is: if you like to scale out of your trades then you can just close one order at a time at the desired exit point.

Another feature of the one click trading is to click on the order line in the chart and you can drag up or down and place your stop loss and take profit. This feature really saves a lot of time. As long as the trade is open you can click on your stop loss and take profit lines and move them any time to anyplace. This is a convenient tool to manage your trades with.

To closure orders double-click on the currency pair in the terminal section. Click to the left of the currency pair or to the right of the stop loss or take profit boxes. By doing this the pop-up box appears you just click on close order and you have efficiently and quickly closed your open trade. If you click on the stop loss take profit box area of the order, in the terminal section, the pop-up box then this gives you a box you can modify the trade. From this modify box you will not be able to close the trade.

We hope this instruction on opening and closing orders was of help to you in learning how to use the MT 4 platform build 600 or larger.

TIPS & TRICKS FOR META TRADER 4 PLATFORM BUILD 600

One of the first tools you need to learn how to use is the meta-trader 4 trading platform. Then you can concentrate on trading rather than wondering which button to click and how to use it.

Watch the video and/or read the rest of this blog post to find out how to use some of the time-saving methods of using the MT 4 trading platform.

One big time saver is to be able to navigate through the charts, you can quickly do this by clicking on any given chart you look at in the market watch and then drag over to the chart area and let go. This should populate the chart area with the selected chart you want to look at. Just repeat the process as often as you want to change charts.

When you are in any given chart you can then scroll between the time frames to get a picture of how that chart is performing.

Across the top menu button there is an icon to click to use the cross hairs. When you click on the icon to get the cross hairs you make a lot of extra moves and has taken your eyes of the chart. The quick way to use the cross hairs is to click on the roller wheel on your mouse and uses it as a button. You do not scroll it you just click down on it. When you want to get rid of the cross hairs you just click the left mouse button and the cross hairs will disappear.

When the cross hairs are present you hover over an area of interest press the left mouse button and hold it down and move the mouse you will see a line form with three numbers out to the side. The first number is the number of time frames you moved right or left. The second number is the number of pips that the cursor is moved either up or down the third number is the price at which the mouse is resting at that point.

This is a very helpful tool to see how long a trend has lasted, how many bars it has gone and the number of pips the move may be.

Another tip is to use the plus and minus keys on your keyboard to zoom in and out. This would replace the need to have to go up to the icons and choose the magnifying glass with the plus or minus sign in the middle.

There is an auto scroll and a chart shift icon. When the auto scroll is turned off there is a little triangle the forms in the lower left-hand corner of your chart area. We call this triangle and anchor. This is where it is located if you have not used it before. You can click on it and drag it across the bottom of the chart. The location at which the triangle is located is where the chart will go to when you change time frames. You’ll notice that a vertical line forms when you are actually moving the anchor and when you let up on the mouse button vertical line goes way. One way to identify the location on a chart in different time frames is to draw a vertical line directly above the top of the anchor then you have a reference point each time you change from one time frame to another.

These are tips and tricks we use every day in the Meta Trader 4 platform. They save time, increase speed and accuracy of trading, and give you more time to think about trading rather than how to use the trading platform. It doesn’t take very long before you will be very proficient at using these tools.

Forex Trading Secrets, Learn the 15 secrets to Forex Trading

Over the years we have determined 15 things that we feel need to be learned and internalized to become a successful trader. We call them secrets because most people don’t seem to find them even though they’re right in the open.

You can watch the video and or read the blog post for the information:

I’m going to review the 15 secrets:

1. Learning how to recognize a trend seems to be one of the big challenges for many traders. By the time they recognize that there is a trend the trend is already half over.
2. Learning how to recognize when the trend is coming to an end is very critical. If you don’t understand that all trends will end then you will give back many of the pips you earned by waiting to close your trades.
3. Another key factor is identifying high probability trades. Many traders can find trades but, their trades are not giving them a high rate of consistent success.
4. Money in trading is made when you exit the trade. This is where we see most traders struggle they either staying in too long and the trade comes back against them. When they get out too early they leave pips on the table. Either way knowing when to exit a trade is where all the money is made.
5. A trader needs to know which time frame to trade and when a trade them. Sometimes you need to trade the larger time frames and other times you will be more effective using smaller time frames. Knowing the difference is the key here
6. One thing that can help you compound your profits is being able to trade more than two currency pairs. Once you understand how to trade indicators rather than currency pairs you can trade four or five or even more currencies at one time and magnify your profits.
7. There are certain times throughout any given 24-hour period that the market has higher probabilities of making good moves. Knowing when to trade can be just as important as knowing what to trade.
8. Many traders have the potential to be successful traders but their challenged by being able to learn to trade and then trading while working a full-time job. One key I will share with you right here is trade larger time frames. We show you how to do this throughout our course material.
9. There are many chart patterns that repeat themselves every week on many different time frames they’re not all exactly the same. But once you learn to recognize the basic structure of the patterns then you can really understand what the market is doing and how to trade the market at that time.
10. Many traders get hung up because they become too emotionally involved in each trade. One quick way of learning to control your emotions is to take multiple trades at one time. When you have five trades on you are not married to anyone trade, you will then be managing your account not just one trade. Quite often more of the trade will be positive and those losing trades are not as detrimental to your emotional standing.
11. A key factor is to focus on the methods of trading that fits your personality. Then be consistent and use those methods every time on every trade. Don’t be swayed by watching some other trader successfully trade a different way. If you are trading with someone and you both trade the same that will work. But if you trade differently you still can trade together but just stick to your method.
12. When you know how to exit a trade then you will not be allowing your losing trades to run too far.
13. Also when you know how to exit trades you’ll understand when to let your winning trade to run and when to close them. You will just take what the market is offering on that trade at that time and move on to the next trade.
14. You need to keep a proper Journal and records. They do not have to be elaborate but you do need a keep records to know where you’ve been so you can plot the direction you want to go.
15. The 15th secret is to learn how to do simulated trading. You can take any strategy and gain a lot of experience and work out some of the difficulties in a short period of time by simulated trading. Once you feel comfortable with your success in the simulation mode, you can then start demo trading. When you feel comfortable with your success in demo trading, moved to your live trading account this will be a more successful and less emotional method of learning how to trade.

We hope this video and written article will help you be able to internalize some of these important steps to becoming a successful trader.

MASTERING FOREX TRADING

You may want to watch the video as well as read the article to get a good understanding of what we think are some of the best foundational skills to have in becoming a successful trader.

       1.Have Clear Goals in mind and choose a trading style that is compatible with those goals.

When you start trading we recommend that you might shoot for a potential goal of 30 pips today. Once you reach that on a consistent basis than you may think about extending their goal to 40 or 50 pips a day. They keep in mind that you may have a trading style that is longer-term in you may not reach your goal every day but when you close a large trade it could well exceed the average of 30 pips a day. So set your goals in relation to your trading style… is long-term or short-term keep your expectations realistic and adjusted as necessary and this will help you to stay in tune with the market and not become discouraged or overly optimistic.

2. Good trading involves expecting small losses.

One of the first things a trader needs to learn how to do is accept a few small losses. You don’t want get in the habit of having large losses that means you not managing the trade properly. If you have the market come back against you occasionally because of either a news announcement or you read the market wrong that’s okay but keep the losses small. You can also expect to have a few small wins the average out, and you’re probably a little bit positive but where you really make the money is on your larger wins by taking an managing many trades.

3. Do not waste time on a losing trade, hoping it will turn around.

This is a continuation of the previous thought in this better to take a small loss rather than hoping the trade will come back and you end up taking a large loss because it doesn’t come back. Remember the first loss is usually the smallest loss.

4. Study your charts at the end of the week looking for patterns that can affect forex trading.

We need to set aside some time each week to review what we have done and plan as to what we want to do for the upcoming week. In the weekly review you can calculate your stats and reflect on your trades and how you would’ve managed them differently. Then in your weekly planning you can look for patterns and trends in potential setups for the coming week. In the beginning of the week you might look at the weekly chart looking for an early bird set up. This will give you the direction that you might consider trading for the rest of the week.

5. Focus on learning how to use indicators. It is difficult to master the world of currency trading if you only focus on one or two pairs.

We suggest that you learn how to use indicators than you can trade any pair or groups of pairs that might be moving that week. If you only focus on one or two pairs and they don’t move then you are more likely to enter poor trades because you want to be in the market. Once you know how to use the indicators you will get signals as to which currency pairs are moving at that time and you’ll have a higher likelihood of having many more good trades because you’re only taking the best the market has to offer.

6. Plan trades in advance and never trade only because of the sudden price movement.

The market can be very volatile in if your waiting for those volatile moments to happen you will find it harder to make consistent pips. So in you’re planning session, plan on the direction of the trade and if the volatility takes you in that direction and that will be a bonus for you. If the market goes in the opposite direction than what you were anticipating look for a entry still going in the original direction and many times you’ll find that you will get a better entry by being patient.

7. Stay calm and avoid getting over excited when trading, which can lead to overtrading or trading with poor reward-to-risk ratios.

It’s always best to keep a good attitude about the market. Trying to get in tune with what the markets is doing, not trying to get the market to do what you want. If you get overly excited and take a trade because you wanted the market to go in a certain direction then you’re going to have many more losses and end up with a poor win loss ratio.

8. Don’t cut the profits short by closing the winning trades too early-stick by your rules.

We always suggest you have a hard stop and a hard take profit when the market start moving in your direction make sure that your take profit is out far enough that you can manage the trade from the backside and take as much of the market as it is willing to give you. Its okay to extend your take profit out as the market continues to move but always move your stop closer, never move your stop further away this will result in more large losses.

These are some of the most important points in developing a solid trading skill set. Master these and you’ll be well on your way to becoming a consistent profitable trader.

Author: Rehimov Zeynal

WHO'S TRICKING YOU????

We say that the market is tricky, but who is really tricking us??????  Many times the market will set a trap for us, but we will refuse to free ourselves because we began the dialog in our heads that really trick us.  We tell ourselves that we are 'not going to fall for that one again', 'it will come back', it will follow a bigger trend', etc.  Then we begin to look for evidence in the charts or in our indicators to support our belief.  While these things soothe our minds and provide us comfort, we only trick ourselves into staying in the trap that is costing us money as price moves again us.  

Harness the market power and make it work for You, if You are stopped out the market is helping to preserve Your capital.  Look at a stop-out as a lesson that cost You  $X.OO of dollars to learn.  When You take a hit, use that money wisely, it was a lesson that You paid for.  Go back and study ways to try to avoid paying for that lesson again.  As You have probably seen on my videos, I get my share of stop-outs, but I dust off and go at it again, because there will be another opportunity to make profit in the market.  

The market isn't hard, it is just tricky at times, but if You see that preserving capital is the most important job that You have, You will come out ahead as You continue to trade a good plan.  If You trade, You are going to have to pay for a lesson every now and then, it's no big deal, it is just the cost of doing business, shake it off and look for another opportunity.   

Yes, the market can sometimes be very confusing and often tricky, but just because You got tricked, doesn't mean You have to stay tricked. Don't let over analysis about what the market might do keep You from entering a good trade set-up, because the market is cocky and will do whatever it wants to do.  Just except that the best trade set-ups can fail, because the market can be bipolar and irrational, sometimes it has mood swings and throws tantrums.  Then there are times that the market will purr like a kitten for You.  

There are times that the market makes me so very angry, but there is nothing I can do about it except accept the fact that the market can be like that and bend with it in order to make paper$$$$.  Don't ever let the market take Your mind off of Your mission to make money.  There are times when You might need a break if You are getting to angry.  Take the break, then come back and try again.  Be sure to listen more to Your chart than to Your mind's chatter, remember that as brilliant as Your mind is, it can only give You info on past chart data and experiences, while the market is always fresh right now.  

Always listen to the market and allow it to lead You to financial freedom.............You are Worthy of the Wealth that the forex market provides.

YOU CAN DO THIS (^_^)!

WHEN THE MARKET IS CRAPPY PRESERVE YOUR CAPITAL !

 

There are times that no matter how good Your strategy or how hard You try, the market just will not cooperate with Your plans to get paper.  What You do in those times is more important to Your success than what You do in a good flowing market!

Why????????????????

Because what You do on those day can mean the difference between thriving in forex or having to fold Your hand and walk away from the table.  On days when the market is stubborn and uncooperative no matter how patient You are or how much discipline You exercise, YOU MUST PRESERVE YOUR CAPITAL.

Believe me, I know how hard and frustrating a market like that can be.  To stay through an entire session or sometimes a day and the market is just indecisive feels like a waste, and it can be easy to become discouraged.  These are the times Your discipline is the most important even though Your emotions may be a bit frayed.  Stay the course of discipline, these are the times we are also most likely to abandon a really good strategy.  DON'T DO IT!

THERE ARE TIMES WHEN THE MARKET IS JUST CRAPPY! 

Be careful during these times not to beat Yourself up or doubt Your ability, There is nothing wrong with You or Your strategy, it is the market, and the truth is no matter how crazy the market gets, it has control over Your paper, so IT IS RIGHT!  so PROTECT YOUR WEALTH.  Even if You come out of the day slightly down beat up, battered and bruised, it's ok, as long as You preserved as much of Your wealth as You could. On days like this, it is most important not to let the market take You out of the game!

Sometimes the market is a kitten, but there are times she is a lion; sometimes you just gotta get out alive.  If you survive, the day will come again for you to thrive.  It is just part of the market cycle and it happens.  Don't take it too hard, because the time will come again when the market is lovely and will want to caress and cuddle You, then she will yield plenty of paper for You.  It is the days that the market is sweet and cooperative that we as traders Preserve Capital for.

#1.  First job of every trader: PRESERVE WEALTH!

#2,  Second job of every trader: BUILD WEALTH!

MONEY IN YOUR POCKET IS BETTER

Money in your pocket is better than money in Your mind.  Many times we will not protect our capital because of the big money dreams in our minds, while losing real money out of our pockets to a trade that is moving further against us.  The market can be frustrating and tricky and most market set-ups are fake-outs, therefore it is vital to protect the capital You have for the  few times the market will give You legitimate profitable set-ups.  The challenge with the set-ups is that so many of them look legitimate, that is why they are fake outs.  If You spend 24 hours trading from a shorter term time frame, most of your entries will be bust, so it is imperative that You choose Your trade set-ups and times carefully.

There are times that are more likely to give You a trading advantage, like economic reports, the times in the market that your currency pair is most active; times of breakouts after consolidations, breakouts after consolidation in harmony with Your trend, reversal candles at resistance/support, etc.  Even with the best preparation, it is possible to enter a bad trade set-up; that is why You must be prepared to cut a bad trade when Your rules are violated and wait for another set-up.

  There are times that the market will act up so badly that most people will abandon a perfectly profitable system.  Since trading isn't hard, it must be tricky in order for You to lose money.  More people lose money in the market because of emotions gone awry than they do bad trading systems.  It is hard to sit and wait for a trade and get stopped out or be stopped out at breakeven, or to wait for a market that is choppy.  The market is going to move and find a direction, but what You don't know is when???????

Trading is not for the faint-hearted nor for the perfectionist.  If You are going to succeed as a trader, You must be tenacious and You must know that there is no perfect system.  There are just too many external factors involving too many human beings to make a perfect system.  The system is perfectly random, and looking for perfection or stability will tire You out fast.   Wearing Your emotions thin is the best strategy the forex market has and it works.  Remember the market can be crazy longer than You can stay solvent, so be sure to protect the money in Your pocket first even when You get tired and frustrated.  I hate the market games, but they are there and they are there to break You, but You have to decide how it is that You want to live and be willing to have the discipline it takes to enjoy that lifestyle. 

If You play, only play to win.  ALL OF YOUR MONEY IS VALUABLE, THEREFORE YOU CANNOT AFFORD TO LOSE IT.  THE ONLY WAY TO THRIVE IN THE GOOD TIMES IS TO PROTECT YOUR WEALTH DURING THE SCARCE TIMES. PROTECT YOUR WEALTH FIRST, WHEN THE MARKET IS CRAZY ZIP YOUR POCKET AND SIT IT OUT.  SOMETIMES THERE IS NO TRADE!

#1 PROTECT YOUR WEALTH (You can only build on what You have preserved)

#2 BUILD WEALTH (The market will eventually find direction and when it does, be there to ride the train all the way into the station)

YOU CAN DO THIS (^_^) !

YOU ARE WINNING AND THEY ARE STILL MESSING WITH YOUR HEAD!

 

Believe Your Eyes

Trading is a psychological warfare that even when you are winning, they are still messing with your head (manipulating your mind).  There are times like doji days when the market is so frustrating that you feel like your head is going to explode. When you crawl away, your emotions are so frayed and you are so battle scarred that you don't know what to do with all of that bottled up frustration and anger.

No matter how much you try to find the edge, it keeps alluding you.  You keep digging a deeper and deeper hole, losing more money,  and the pressure builds until your mind is tied in a knot so tightly that you lash out whether verbally or physically. After this kind of a day of brain-bashing, confidence-shaking, emotional upheaval cause by a choppy market; you are in a kind of market shell shock or psychological trauma.

I don't know all of the answers, but I have a few suggestions when you feel out-of-control.  First push your chair away from your screen and distract yourself with something more relaxing, stress relieving and fun.  Sometimes, you will have to take a day or two off just regaining your focus and rebuilding your confidence.

After you have created the distraction by dancing, working-out, meditating, visiting a friend, going to the movies, etc., come back to good solid forex education like this and reinforce what you know to be true.  Go study those tricky charts, watch videos, talk to other traders,-------DO WHATEVER IT TAKES TO HELP YOU REGAIN YOUR EDGE!

After they have given you a good spin in the blender, the market will usually trend againHARD, but so many traders are still in such a state of shock, panic and anger from the day/week of spinning that they miss the really good trend. 

The most important thing you can do during and after these times is to trade a good plan with consistent discipline even on losing days.  Bad trading days tempt you to abandon good, solid trading habits, but DON'T DO IT !  If you abandon a good plan,  when the market comes back - you won't trade it out of fear that the market is going to turn on you again.

The psychological effects of trading can be much more devastating than any amount of money that you lose, it is a sort of mental scarring that can take place after a really hard trading bout, therefore you must trade a good plan consistently.  Cut bad trades quickly and ALLOW YOUR WINNERS TO RUN!!! It maybe hard, but doing these things will give you the edge and KEEP YOU IN CONTROL during the hard times.

NEVER HOLD ON TO A BAD TRADE NO MATTER WHAT........CHOPPY MARKETS ARE SET-UP MARKETS!

YOU CAN DO THIS (^_^)!

A LOSS EXPLAINED

When you enter a bad trade, the longer you stay trapped (hold on to the bad trade), the more of the bank's money you buy or sell at ridiculous prices. 

Example...If they trick you into a sell position in a bullish market, the longer you hold that bad sell the more of their money you buy at more expensive prices, losing more of your money in the process.... 

Or if you are tricked into a buy in a bearish market, the longer you hold that bad buy the more of your money you sell at cheaper prices, and your money becomes less in the process.

You never stop that buying or selling until you close out, stop out or are margin called  In a bad trade you are getting deflated or inflated money, either way it is a BAD EXCHANGE and YOU LOSE!!!!!
   
DON'T EVER HOLD BAD TRADES, THEY ARE A RIP OFF !

TRADE A GOOD PLAN WITH STOPS!

YOU CAN DO THIS (^_^)!

BANK FRIEND OR FOE?

We are always talking about banks and their calculated careful manipulation of the market, but is the bank really da looming boogie man??????

Yes, it is very true that the banks manipulate the markets making billions off of traders in the process, but it is equally true that the opportunity to make huge windfalls in the market would not exist without the liquidity that the banks provide. 

The banks have turned the forex market into a fairytale of  unlimited wealth and opportunity.  You can live a lifestyle trading that most people only dare to dream about, but don't for a second be under the illusion that they are going to allow you to just waltz in and load up on as much cash as your heart desires.  While there is 4 trillion dollars a day in the forex market give or take, the banks like any other business entity is looking to capitalize on as much of that money as possible.  It just so happens they have more power than most of us to make things happen that put the odds heavily on their side. 

Yes, it is their intention everyday to take your money, but it is up to you if they get it or how much of it they end up with.  In other words the banks are either feeding you or feeding off of you. 

You can never beat them in the market, it is their game and they have the power to make the rules.  The good news is that you can trail them and earn a very very nice living nipping at their heels.

The bank is your friend if you trade with the strength of that power, but it is a breaking force when you trade against that power.  Trade with the force that has the power to move the market, or trade against that power and be crushed, it is your choice.  Remember NO ONE EVER FORCES YOU TO HOLD A BAD TRADE, BUT THE BANKS LOVE IT WHEN YOU DO!! 
  

Whether the bank is Friend or foe is totally left to your interpretation.  Do they feed you or feed off of you?????

YOU CAN DO THIS (^_^)

THE CATCH AND RELEASE TRADING PROFESSIONAL

 

In forex traders get into trouble because they have the wrong mentality.  They trade the "cling and hold method" and it gets them killed in the market.  Trading is a "Catch and Release" game.  Only hold a trade as long as it benefits you, if you catch the wrong trade, kill it like a rattle snake and start over.  

Most traders hold to bad trades for dear life in spite of the danger 

 This is the wrong way to trade, if it can kill your account, let it go and look for a better trade.  (Write this somewhere that you can see it while you are trading (KILL IT BEFORE IT KILLS YOU). Only take the trades that you truly want.  That means only investing your hard-earned capital in a trade that is going to reward your patience and hard work. If it is a trick trade, simple cut it and follow market strength.  The sooner you cut it, the quicker you can recover and be on your way to profit.  

This is what most traders don't understand about the market, you only keep what you want and discard what you don't.  Trading is a catch release game............................. It is like going fishing for a Big Mouth Bass and finding a Water Moccasin on the other end of your fishing line; the smart fisherman would release that killer immediately.  Trading is the same way, if you catch a Big Mouth Bass, Salmon, Tuna, or Catfish, keep it.  It will feed you, but if you catch a shark, snake or sting ray, throw it back; it can kill you, and the longer you keep it, the more deadly it becomes.

Anyone can get in on the right side of the trade, but only pros understand the great advantage in cutting the line (a bad trade quickly) if there is poison on the other end.  Most traders let the snake bit into them and hold on hoping that the poison will not kill them.  That is just dumb, I know because I have done it a million and one times and that thinking killed me over and over again in the market.

Cutting a bad trade quickly keeps you in control and puts the power and responsibility for your trading into your own hands, instead of leaving you hopelessly at the hands of a merciless market.The market will either feed you or feed off of you.

Letting go of bad trades gives you the power to follow market strength into profit and build wealth.  Don't worry about taking small hits in the market, it is ok, there have been days that I have taken several hits and started the day off pretty deep in the red, but by the days end I was far ahead.  There are days that I have ended slightly behind, but I felt good about those days because I was trading(catching and releasing), releasing the poison.  Every trade will not be profitable and not every trade will be a home run, but there are the big reward times that the market will open her store house of the sweetest treasures; that is what you are saving, building and preserving your capitol for - those sweet days.

The biggest accomplishment in my trading is letting go of bad trades quickly.  It took me forever to fully comprehend the wealth building power at my disposal just from that one little secret alone.  Cling to the good, but discard the bad quickly.  Slow movement on your part could be deadly to your account.

Don't be afraid to let go, the wealth is therewhen you have the power to follow it, and it will reward your consistent discipline with a better lifestyle......



 

YOU CAN DO THIS (^_^)

 Real trading is about how well you handle the Rattle Snake, everything else is gambling.........