We lost 25 pips.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note.
Do not Sell EUR/USD.
We have Level EUR/USD for reversal correlation with USD/CAD.Now EUR/USD Short would be very dangerous.
Do not Sell EUR/USD.
Hold all EUR/USD Buy. But for now do not be in hurry just hold Long.Safe EUR/USD Sell Entry level just in algforex.com.
CONTROLLING RISK
One of the most important things You can do as a trader is to control your risk. In other words pre-set a point that You have determined that You could possibly be wrong.
Remember, trading isn't hard, it is just tricky because everyday the market does the same thing, it moves up and down and sideways and gets choppy. It not only does this every day, but every week, every month and every year. Your job is to determine the primary direction of the market's movement and try to profit from that knowledge.
Sounds easy, but there are hidden traps in the market to snag You, and keep things interesting. Market Makers are always trying to to trick You before taking price strongly against You. They are attempting to trap You in a losing position. This happens everyday in the market, and it WILL eventually happen to You too.
You advantage is in keeping your losses small. Have a predetermined amount of pips the You are willing to lose. Once You have determined that amount, 'say 20 pips or so on a short term trade, MAKE NO EXCEPTIONS!!!!!!!
A FREE RUNNING LOSS can be a major game changer!
It should not take a -200 pips in short term trading before You realize that You have loss Your advantage. If You are telling yourself "Ah it will come back", chances are very good that You are already in trouble!
Being a pro traders does mean that you never take losses, being a Pro Trader means that You never let losses take You out of the game!!!
NEVER LET THEM TRAP YOU!!!!!!!
If You are telling yourself "Ah it will come back", chances are very good that You are already in trouble!
CUT BAD TRADES QUICKLY AND GO IN THE DIRECTION OF PROFIT!!!!!
YOU CAN DO THIS (^_^)!
Next Update just in algforex.com.
Since Friday we everybody are in Trade.EUR/USD 100 pips of Profit.USD/CHF 80 pips of Profit.Let's take something.Do not close these Entries 100%.
At night we did Buy EUR/USD 1.3300.We'll take 40 pips of Profit and we'll move Stops near Entry.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near
Next Update just in algforex.com.
EUR/USD support 1.3573 still hold Long, but it will break much lower in this channel until lower blue line.
Same Intraday Update like on Friday.
In algforex.com we'll Buy little lower.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I
Next Update just in algfrex.com.
EUR/USD Short since 1.3820 we looking more like 200 pips of Profit.Watch one more time 11/11 Intraday Update Video.Same time in algforex.com we'll Buy near bottom "blue line".
We did Sell EUR/USD 1.4001. This week FOREX Trading will come back to regular pace.
Now take 1/4 about 40 pips of Profit and move Stops to Entry.
We have opposite correlation.
DOW goes Short. EUR/USD Long and will go much more.It became just today in long time.So let it go. I do not Trade for now.
SEASONS
This was an amazing gift from a Friend this morning and I had to share it:
There was a man who had four sons. He wanted his sons to learn not to judge things too quickly. So he sent them each on a quest, in turn, to go and look at a pear tree that was a great distance away.
The first son went in the winter, the second in the spring, the third in summer, and the youngest son in the fall.
When they had all gone and come back, he called them together to describe what they had seen.
The first son said that the tree was ugly, bent, and twisted. The second son said no it was covered with green buds and full of promise.
The third son disagreed; he said it was laden with blossoms that smelled so sweet and looked so beautiful, it was the most graceful thing he had ever seen.
The last son disagreed with all of them; he said it was ripe and drooping with fruit, full of life and fulfillment.
The man then explained to his sons that they were all right, because they had each seen but only one season in the tree's life.
He told them that you cannot judge a tree, or a person, by only one season, and that the essence of who they are and the pleasure, joy, and love that come from that life can only be measured at the end, when all the seasons are up.
If you give up when it's winter, you will miss the promise of your spring, the beauty of your summer, fulfillment of your fall.
Moral :
Don't let the pain of one season destroy the joy of all the rest. Don't judge life by one difficult season. Persevere through the difficult patches and better times are sure to come some time or later.
Thanks Jonathan, it was a much needed lesson for life (^_^)
YOU CAN DO THIS (^_^)
Now take little Profit for 50 pips.
Make sure your Stops are near Entry.This way we do not loosing nothing.Hold this Entry as much as you can.
I'll Buy EUR/USD 1.3871
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
FOREX Trader must to know when to Trade and when,- do not Trade.
Last month was huge success for all of us.Now trade very lightly.When will be very good time for safe Entries I'll let you know.
Next Update just in algforex.com
We got our Intraday EUR/USD 1.3774 Buy.If you'll take some Profit do not close this Entry 100%, just move Stops near Entry.Hold this Entry as much as you can may it will reach channel top line.This way we do not loosing nothing.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
It's time to Trade and it's time,- Do Not Trade. Later I'll do Intraday Update and on this Blog.
Today I do not Trade.All our algforex.com subscribers will get 1 week extra time.
A LOSS IS LIKE A RATTLE SNAKE
A loss is like a rattle snake, DROP IT BEFORE IT KILLS YOU!!!!!!!
As of late, I have been getting emails from traders who have blown up their accounts. Believe me, I know first hand the pain, desperation and frustration that comes with that experience as I have had it many times. The first time I blew up an account I had to get two jobs 7 days a week to almost cover my bills and I was still struggling.
No matter how many accounts I have blown up, I have always managed to do it the same way every time 'holding on to a loss' that grew up to kill me because I refused to let it go, hoping and praying that the market would come back in my favor.
When I would read other traders info that said cut losses, I thought they were being negative and trying to make me lose my money. Had I listened to that wisdom, it would have saved me many heart-aches.
Let's deal with some hard facts about trading:
#1 YOU ARE GOING TO LOSE MONEY HERE!
This is a big girl's game, if You are afraid to lose money, You should be doing something else with your life, it will be much more profitable.
#2 THE MARKET IS VERY VERY GENEROUS AND WILL ALWAYS GIVE YOU OPPORTUNITIES TO MAKE MONEY!!!!!!
-CUT BAD TRADES QUICKLY AND GO IN THE DIRECTION OF PROFIT!!!!!!
Most of us got into forex with the idea that this is easy money, ignoring everything that told us that 95% of all 1st time traders go broke in the market. We ignored it because we decided that we would be part of the 5% who beat the odds. If You are like I was, You read every book You could get your hand on, every website and attended every webinar to make sure You were part of the 5% who were successful here.
FOREX IS NOT HARD. FOREX IS TRICKY AND WITH THE RIGHT EDUCATION AND DISCIPLINE ANYONE CAN DO IT (^_^)
What we fail to realize is that forex is like any other profession, it take most of us a while to be successful here.
NO ONE WHO IS TRULY GREAT DID IT OVERNIGHT, it took continuous education, practice, discipline and sometimes a little blood, sweat, and tears.
I don't care how brilliant a surgeon is, You don't want him to cut on you without PROPER TRAINING & PRACTICE. Notice how many high powered professions are always practicing, 'Practicing Physician', Practicing Attorney'. Other professionals are practicing to get better and so should You.
You can be successful at forex, but not if You are not willing to do what it takes to succeed.
SUCCESS LIST FOR FOREX:
WAIT for a proper trade set-up before entering the market!
LET GO of bad trades quickly!
ALWAYS TAKE MORE than You give!
YOU CAN DO THIS (^_^)
Our channel line is broken, so after some small Long we'll see bigger reversion Shot.
Level just in algforex.com
We got Stops. No Trade. New Update coming in algforex.com.
EUR/USD Main Trend Long, but we'll see bigger reversion.
It was our Yesterday's Update.
EUR/USD Buy near 1.3787GBP/USD Buy near 1.5803AUD/USD Buy near 0.9693NZD/USD Buy near 0.7485USD/CHF Sell near 0.9677
Today we did try to Sell EUR/USD 1.3800 against Main Trend on other Trading Station, Stops did move near Entry after small Profit. Now,- No Trade.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after
I still looking for safe levels. Entry and Signal just in algforex.com.
For now we just watch market movement.EUR/USD 1.3464 was nice Entry Long from our channel line.But later it will reach maybe just 1.3747 and will break little our channel line lower.
Finally we got our 1000 pips and little more for EUR/USD Long.
Today do not Sell EUR/USD it's very dangerous.Our Main Trend is still Long.If you do not have algforex.com Signals, today you can Buy EUR/USD and now, whenever you want on dips and you'll be in Profit. If I'll see bigger reversion I'll let you know.Thank you very much for taking thees Entries.It helps to move market.Now and new people have nice Profit, so next week we'll add much more AUD/USD,
Do not Sell EUR/USD it's very dangerous.
Today our Call was to Buy EUR/USD and near 1.3567.Our accuracy is 7 pips.It came 1.3582. It did not reach 5 pips.So, I did adding just very very small amount EUR/USD Long.May we'll add later.Next Target 1.3737.
Update coming much later. Hold all our old EUR/USD Entries Long since 1.2700. We're getting close to 1000 pips of Profit.
My level of support was 1.3551.It did not reach 7 pips. (It's range of our accuracy).So, I did not make Call and we did not make adding Long.
Do not Sell EUR/USD it's very dangerous.
Today we did not do adding Long.We try to make money against Main Trend on other Trading Station.We did Sell EUR/USD 1.3643. If it breaks higher we'll close this Entry or we'll "break even".I looking for Entry Long, it would be lower and same time it would Target #1 for our 1.3643 Short.We making money on EUR/USD Long, but like today is good and extra money on reversion until it will reach safe
Take some little Profit and wait for much bigger money.
We do hold 20 days all EUR/USD Entries Long since 1.2700.We do some adding every day.We made lot money on EUR/USD. Now it's good time to add AUD/USD, NZD/USD, GBP/USD, USD/CAD and USD/CHF for much bigger Profit.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees
It was our yesterday Update. Now EUR/USD, GBP/USD, AUD/USD and NZD/USD Stops near Entry.
EUR/USD Buy near 1.3411AUD/USD Buy near 0.9551NZD/USD Buy near 0.7301GBP/USD Buy near 1.5791USD/CAD Sell near 1.0281USD/CHF Sell near 0.9887USD/CAD we lost 25 pips.
SAVE YOURSELF!!!!!
Last week we got a huge surprise in the market when the bank of Japan intervened to devalue the yen against other major pairs. Most traders were caught on the wrong side of the trade. Many took huge losses and some of them let their account be blown up.Guys when bank volume starts to move price, You may not get a pullback to take a smaller hit. If You don't have volume on your platform, You can recognize bank action by price that moves one way almost continually without much retracement. Price will get to a resting plateau and rest before exploding again in the direction of the previous price action.
Many of us will sit at our screens, cursing, praying, begging, but the best thing to do is to save yourself, by cutting bad trades quickly. DON'T DEPEND ON THE MERCY OF THE BANKS TO DO IT!!!!!! THEY ARE OUT TO EAT YOUR LUNCH ALWAYS ! THEY ARE YOUR ENEMY, AND THEY ARE RUTHLESS WITHOUT MERCY!!!!!
What happened last week was nothing more than a market shake out, it happens to traders about 3-4 times a year. The last big one in May 2010 saw a drop of up to 1000 pips in 24 hours.
What can You do to save yourself from this kind of adverse action.?????????????
#1. DON'T LEAVE OPEN POSITIONS! Trade what You can see. When You are not in the market take your money out with You. That way You can save on all of those foul words to Your broker when he tries to explain the price slippage that caused price to go beyond Your stop loss.
#2. If You must leave trades opened, put in a physical stop losses..
#GRANDDADDY OF THEM ALL!!!!!!!!!
NEVER LET LOSSES RUN !!!!!!
NEVER LET LOSSES RUN !!!!!!
NEVER LET LOSSES RUN !!!!!!
CUT THE LEGS FROM UNDER THAT BEAST AS SOON AS POSSIBLE!!!!!!!!!!
Two things are essential if You are going to enjoy a very successful and lucrative trading career.
#1 Wait for a proper trade set-up
#2 Learn to save yourself. CUT BAD TRADES QUICKLY!!!!!! So what if it comes back in your favor, many times it will, but it only takes one good shakeout to leave your lifestyle in jeopardy.
Cut bad trades to leave the most capital possible for a more profitable trade set-up. THE MARKET IS VERY VERY GENEROUS, IT WILL ALWAYS GIVE YOU ANOTHER OPPORTUNITY TO MAKE SOME PAPER, BUT YOU HAVE TO CUT YOUR LOSSES QUICKLY SO THAT YOU HAVE THE MAXIMUM CAPITAL TO TAKE ADVANTAGE OF THE RIGHT OPPORTUNITY WHEN IT PRESENTS ITSELF!!!
The market is swim, float or sink. Don't let them sink You. SAVE YOURSELF!
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
Do not Sell EUR/USD it's very dangerous.
On Sunday our Update was to Buy EUR/USD near 1.3411.It came 1.3424.New Update just in algforex.com.
New Intraday Update and safe level for Entry is in algforex.com.
Strongly do not recommend to Sell EUR/USD.
Very simple. Do not Sell EUR/USD.
Take now 1/4 Profit about 100 pips since last Entry EUR/USD Long 1.3333.Also and we'll take some profit about 700 pips since 1.2700.Hold EUR/USD Long as much as you can.Still very dangerous to Sell EUR/USD.Next Update just in algforex.com
We did Buy EUR/USD 1.3333. Lower, blue line has support for adding more.
It means if blue line would be broken just little,- No Trade for new people.Older Traders we are Long since 1.2700, so for now I do not put Stops at all on new adding Entries.When we'll see bigger reversion or change of Main Trend I'll let you know and on this Blog.Today we'll trade more careful (smaller amounts).
Do not Sell EUR/USD it's very dangerous. Every day we try just Buy.
In algforex.com and on this Blog 10 days we do adding EUR/USD just Long.On Monday and Tuesday in algforex.com we did have just Buy EUR/USD levels.Now after some reversion Short in algforex.com we'll do one more adding Long.
In algforex.com we have trend EUR/USD Long and safe level for Entry.
Yesterday we did predict EUR/USD Long, but we did not reach safe level Buy EUR/USD 1.3035.
Our Main Trend is EUR/USD Long. Do not Sell EUR/USD it's very dangerous.
It's Friday.Today no more new Entries.On Sunday in algforex.com we'll do new Update.Below you can see Strategy what we did Trade last week.We did start Long from 1.2700 and 37 pips lower.Also we did some Entries Short on other Trading Station for extra money.Next week it will be very different.
Our Target Short and new adding Long was EUR/USD Blue Line. Stops to Entry for new Long.
Very dangerous to Sell EUR/USD. Very strong Trend Long.
Hold all EUR/USD Entries Long. Do not Sell EUR/USD it's very dangerous.
In algforex.com we have Target (support) for our EUR/USD Short 1.3107.Also we'll do adding Long from this level.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit
In week since EUR/USD 1.2700 we have 400 pips or more. Hold EUR/USD Long as much as you can.
EUR/USD 1.3107 has very temporary resistance.Sell just on other Trading Station and Stops as soon as possible.Short Entries just for Today.Same scenario:After some reversion Short in algforex.com we'll Buy near safe level of support.
EUR/USD Long.
In algforex.com we're looking for reversion Short and we'll Buy EUR/USD near safe Level.Still very dangerous to Sell EUR/USD.Let's go just Long and keep Longs as much as you can.
EUR/USD 1.300 is good level to take some Profit 300 pips or more.
Do not Sell EUR/USD. It's very dangerous.
Do not Sell EUR/USD. It's very dangerous.
Yesterday in algforex.com we did not reach safe 1.2771 level for EUR/USD Buy.We still hold all old EUR/USD Long Entries since 1.2700 and since 37 pips lower.New Update coming in algforex.com.
Today in algforex.com we'll add EUR/USD Long third time.
Update is done.Hold all EUR/USD Entries Long.Do not do nothing. Let it time to make money for you.
EUR/USD just Long. Do not Sell EUR/USD it's very dangerous.
Next Update just in algforex.comMuch later we'll show and on this Blog.
Thank you very much for buying EUR/USD near 1.2700.
It works very well.Hold EUR/USD Long as much as you can.
I'll add EUR/USD Long near 1.2700 and I'll move Stops near Entry
It's Friday.Getting late.I'll take some risk.
New Update coming. Do not Sell EUR/USD it's very dangerous.
Yesterday in algforex.com I did not send Sound Signal.So we still did not make new Entry.
Very simple. Just Hold all our USD/CAD Entries Short since 1.0667.
Remember 200 pips and little more.Next week we'll start from "zero".
Still hold USD/CAD Short since 1.0667.
Now we have 150 pips of Profit.Looking for 200 and much more pips.
DANCING WITH THE MARKET
Dancing with the market can often be a frustrating experience because it is constantly attempting to trip You up on the dance floor.
To make Your dance experience a little more pleasant, You must develop the discipline of a Master Trader.
You must be willing to severe trades that are working against You.
You must be willing to wait for proper trade set-ups.
You must continue to educate yourself.
The market is fickle and temperamental, some might even call it bipolar. Sometimes it is up, sometimes it is down. As a trader You must tread lightly and follow the varies moods of the market until You can see an advantage.
As a trader You only have two jobs when You engage the market in dance.
#1 Keep from being tricked........
#2 Try to put a little money in your pocket...............
That is it!!!!!!! It is as simple as that (^_^)
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6
MarketClub BONUS, 2 FREE MONTHS! Click Here
Now we everybody can take some Profit small 30 pips and later may 100 pips or more.
Also your Sell near 1.0607 was big help.Thank you very much.Market will go follow our direction, but it's Friday,- protect your Profit.
We are USD/CAD buyers, but we do think differently.
Everybody are looking to Buy USD/CAD.Market knows that.So I think later market will blow all buyers and will break 1.0500 lower.We're looking for support much lower.
Still do not Buy.
What I'm waiting for?I'm looking to Buy in safer range of price.USD/CAD 1.0503 - 1.0531.
USD/CAD getting close to our Target ... #1, also take some Profit NZD/USD Short about 115 pips.
Do not close Trade 100%.New Update coming.
New Update coming. Now no new Entries. Hold NZD/USD Short since 0.7080.
We lost USD/CHF Long very small amount 25 pips.Still hold NZD/USD Short. Stops 0.7080.
It's Friday. Getting little risky.EUR/USD Buy 1.2677.EUR/USD Sell 1.2771.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade
Now we'll get our Profit about 111 pips from 1.2901 Short and we'll Buy one more time.
This level just in algforex.com.
We got our EUR/USD Target (120 pips) and resistance 1.2901 with 1 pip accuracy.
Do not close this Entry 100%.Next Update coming.
Now we have Level for new EUR/USD Buy.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I
EUR/USD 1.2870 is good to take some Profit for 140 pips.
Do not close this Entry 100%.Also we looking some Intraday reversion Short and we'll Buy one more.This level just in algforex.com.
Next Update just in algforex.com.
We got our EUR/USD Long 1.2737, but I have some information that this level much later could be broken lower.If you invest huge amount take some Profit step buy step.Stops near Entry after some Profit.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are
EVERY BROKE TRADER DOES IT THE SAME WAY
Every trader who ever goes broke does it the same way.
I have heard it said that Traders go broke because they are under capitalized, that isn't true. If You can lose $100.00, you can lose $1,000,000.00. The problem is the same in both traders, the refusal to let go of losses. The difference between the pro and the amateur isn't necessarily his/her trading ability. Trading is easy!
The difference is in how he/she takes a loss. A disciplined pro will say, " I will stop the bleeding here if I am wrong." The amateur says, " I am right and eventually the market will come back in my favor." If You are thinking that, You have lost Your advantage.
While a pro will let 10 profitable trade kill 1 loss, an amateur will let one loss eat the profits of ten profitable trades. Both traders had the same number of trades but one will end the month in profit and the other will end the month in stress and pain.
Cutting a loss quickly soon ends your attachment to that trade and allows You to pursue a more profitable trade set-up. Part of the reason it is so hard to cut a trade is because You waited forever for that trade set-up and now You not only have to admit that You did not have the advantage that You thought that You did, but now You have to start the process all over again and with a loss.
DON'T MARRY ANY POSITION; THE MARKET CAN CHANGE IN AN INSTANT!!!!!!!!
IT IS ESSENTIAL THAT YOU HAVE AN EXIT STRATEGY (ONE THAT WILL CAUSE YOU THE LEAST AMOUNT OF PAIN)IF THINGS DON'T GO AS YOU PLAN!
ANY TRADE CAN TURN INTO A LOSS!
If You play this game long enough, You will eventually meet with disappointment. It happens, cut and move on. The market will give You another chance to make profit.
Never allow yourself to become wounded beyond repair in the market, either financially or emotionally. Cutting a loss means that You love Yourself enough to save yourself.
If You are going to win at this game, You have to have the capital to play and cutting trades that have lost the edge is one way to thrive here.
Gotta learn to save yourself! If You are getting stopped out frequently, You have gotta to rethink your strategy because something is wrong.
Free Your mind to find good trade set-ups by cutting trades that are not working in your favor. Holding on to diseased trades only punishes You and eventually it can break You
The biggest discipline that a great trader learns is how to cut a loss
YOU CAN DO THIS (^_^)
We got very nice our last Entry and Adding EUR/USD Long, so ...
If you are new Trade fallow our Strategy...If you trade fallow my Strategy since July 1Th, you do not need Stops at all for this last Entry,- you are in huge Profit.Next Update just in algforex.com
HOW I TELL I AM LOSING MY ADVANTAGE
When trading the 1 min time frame it is essential for You to be able to recognize when You have lost Your trading advantage. These are ways that I can tell that I no longer have the advantage that I believed that I did:
If price moves above/below the previous candle even though it may not close there, I don't have the advantage.
A good trade should run in your favor almost immediately !
If you are not in a decent profit in 7-10 mins , then You may want to consider getting out with a tiny profit or at break even, because chances are high that price is going reverse on You.
Wacky MA's- Pay attention to the order of Your MA's, it is very important, they will tell You if You are in a good trade or trade hell. If your moving averages are 1, 2, 3, 4, 5, then they should be in order 5, 4, 3, 2, 1, or 1, 2, 3, 4, 5, not 4, 2, 3, 1, 5.
Lastly a flat 50 period strongly suggest that You may not have the advantage that You thought.
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
We'll trade follow last scenario:
Main Trend is still Long, but on other Trading Station we'll Sell for extra money.When we'll get Target from temporary Short on other Trading Station, we'll make Entry Long for our Main Trading and Main Trend.It's not Scalping.It takes sometimes 2-3 days. It's different pace of time frame.Questions to alg@algforex.com.
This week Magic level was 1.2957.
We took Profit at this level from temporary Short and it was good to Buy from this level for Main Trend Long.Now I looking for next Level.
Take Profit ...
We got our Target 1.2957 with one pip accuracy.I'll do new Update and we'll make much more money.Also do not forget our Main Trend is Long.If your trade Long Term Entries, concentrate more on Buying EUR/USD.
KEEPING RISK SMALL
Keeping risk small and rewards big is what a good trader is always attempting to do.
How can we do that???
How can we gain that kind of advantage??????
One way I have discovered is by trading off of the 1 minute time frame.
Why is that an advantage??????
It keeps your risk small when you find yourself on the right side of the trade and within a matter of minutes, you will see that you can secure a very nice profit.
The advantage that it has over larger time frames is that you are able to get in on a move quicker, giving you access to more profit with a smaller risk. Many times when you are trading off of the larger time frames by the time you get your confirmation, the move is almost over, the reward is smaller and the risk bigger, especially if you day trade.
One of the problems that comes as a result is that you find yourself in a nice profit briefly before price reverses strongly on you again, then you find yourself hoping and waiting for price to come back in your favor, kicking yourself all of the time, thinking 'I should have got out when I had a profit.'
Now I do need to mention that while you get many more trading opportunities off of the 1 min time frame, You also get many more false trading signals.............
Let's put the odds in your favor a little more. I don't use a trend line on the 1 min chart, just on my longer time frames, so there is always a trend line available, but it comes off a larger time frame. On your 1 min chart, you may want to consider a moving average, right now I am experimenting with the 8, 10, 14/15, 20 and the 50 period SMA.
Though your SMA is a lagging indicator, it can still give you some clear trading advantages by showing you the times that the odds are the most in your favor.......
The real sweet spot.......
TIME, time is the magic ingredient to pulling off a successful and profitable trade. There are market sweet spots, times when your pair is the most active. Those are the times that give you the biggest opportunity for profit. You want to capitalize on these times. Two good trades at these sweet spots will make your trading day.
Here is a chart that will give you an idea when your pairs are the most active:
http://www.mataf.net/en/tools/02-01-volatility.
The most important thing to remember about the 1 min chart is to get in, get your profit and get out. You can not ride a 1 min trade all day.................On the 1 min chart it iS imperative that you cut your profits when things are no longer going in your favor, because price can soon engulf your profits if you don't.
So in closing the things you want to keep your risk small are:
The sweet spot in time:
A proper trade set-up
Speed of execution.
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
EUR/USD 1.3000 is very Intraday resistance.Also it's good to take some Profit from last week Friday's 1.28... Long.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit
Stops to Entry and ...
Now after this "European bank stress tests" do not be in hurry:Buy EUR/USD 1.2733Sell EUR/USD 1.3027If will be some changers I'll let you know on Sunday night.
Everybody did Sell EUR/USD 1.2911, so now trade fallow Strategy.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 17 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
EUR/USD 1.2870 has support, but if it breaks 17 pips lower it will go 77 pips Short..
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 15 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
All viewers of this Blog we did Sell EUR/USD 1.3001, so we did hold for weekend.
Now if EUR/USD will break 1.2853 I looking next Target (220 pips Short since 1.3001) and 1.2777 for our new Buy. All new adding Stops to Entry as soon as possible.
1.3001 I see some very Intraday resistance for Sell. Later we'll do adding Long.
Since 07/05 we have EUR/USD Long and we do Buy almost every day.Price moved about 500 pips.
We'll Buy EUR/USD and we'll Buy one more time. Safe Level in algforex.com.
Do not Sell EUR/USD. Now it is very dangerous.
WHY DO WE HOLD ON TO LOSSES ???
Why do we as traders hold on to our losses???????Hope,
Fear,
Anger,
Apathy,
Confusion,
When we see ourselves on the wrong side of a trade, we hold on with the thought that the market will soon come back in our favor, because most of the time it does. Hope, one of the greatest gift's GOD has given us, can get you killed in the market.
The fear that when we let go of that loss, price is going to come back in our favor and we would have taken that hit for nothing.
The thought that we can't take this loss, because we don't want to give back some of our profits. Then the loss becomes so large that we really can't afford to take it, so we leave it in the hands on the market hoping for mercy. In that situation, believe me the market is going to run over You every chance it gets, and will wipe You out as many times as possible. As generous as it is on the right side of the trade, it is a ravenous beast with no mercy on the other.
You have done all of Your analysis right, You have waited for a proper trade set-up and everything says that You have the advantage, You get in the market and the trade goes against you, and You are madder than hell because You were right, so You refuse to cut the loss. Let me say that the market loves that, because Your anger is only giving them more of your hard earned money. Your analysis can be 100% perfect and the market can still go against You, because the market will do as it pleases. It leads and You follow, but make no mistake, the same market that lines your pockets so fully can also turn on you like a mad dog.
Another thing that happens when a loss becomes too large is that thought that "I should have cut it at $100.00, now it is $1,000.00". Then the apathy sets in and You just don't care what happens any more. 'If it comes around fine', or 'if I get wiped out so what', 'whatever', then You turn off your screen and You do something else, but You can't stop worrying about that loss that is looming over You larger than life. It is so much better for you to cut a loss than to have the market cut it for You.
The other thing is the confusion about when to cut a loss, it can get to be hard, but having a predefined stop before your entry or soon after or a physical SL, will make taking a hit much easier. I never like to try to define people's SL's because it is a matter of risk tolerance. You know how much You can afford to loss, and Zero is not an option, while none of us want to lose anything, it is just not realistic in this game. There are people who were prosperous for years in the market and got wiped out in single day or week because they could not stand to take a loss. As long as You have money, you have money to make more money, but when your money is gone, you have to get up from the table.
These things are easy to say in theory but hard to do practically, it is I think the hardest discipline that a trader learns, but we must learn to cut losses quickly. The heartache and money I could have saved by cutting my losses quickly and going in the direction that price was moving would be enough for that new Camaro that I love.
That is the great thing about the market, if You survive to play another day, You eventually get it.
CUT YOUR LOSSES QUICKLY (^_^)!!!!!!!!!!!
A failed long usually makes a good short, and a failed short usually means a good long (^_^). There is always good money to be made in the market, just don't be the one because of your false hope, or stubbornness, that the market is making money off of. Don't allow the market to feed on your families hard earned money cut losses quickly!!!!!!!!!!
YOU CAN DO THIS (^_^)
Marketclub 2-Week Free Trial
EUR/USD Long.
Still trade very carefully.It means very small amount.In algforex.com we have level to Buy EUR/USD.Yesterday we did not Buy. Price still did not reach our level.If you are new, in this kind of market better do not trade.
EUR/USD Long.
This week we trade very carefully.Yesterday in algforex.com EUR/USD 1.2617 was our Daily support for Sell.Accuracy came just 3 pips.Today we have level for Buy EUR/USD.
Now EUR/USD 1.2651 has not strong support. I'll add Long very little. Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 15 - 25 pips of Profit move Stops near Entry. Also we do trade
EUR/USD 1.2701 has very Intraday resistance.After some reversion Short we'll Buy more.Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 15 - 25 pips of Profit move Stops near Entry. Also
Do not Sell EUR/USD.
Now in algforex.com we have safe Level and Entry for Euro session.Later we'll show and in this Blog.
EUR/USD Long.
Now in algforex.com we have safe Level and Entry for Euro session.Later we'll show and in this Blog.
We'll take about 200 pips of Profit from EUR/USD Long. But please do not close this Trade 100%.
We everybody did Buy EUR/USD 1.2481 with 1 pip accuracy and in this Blog, so I'll still do manage this Entry.
Take some Profit about 110 pips. Do not close this Trade 100%.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 15 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
EUR/USD on Sunday.
1.2557 I'll Sell small amount, but if it breaks 1.2521 higher it will go much more Long.
If you are new better do not Trade today.
Do not loose on these Entries no more like 7 pips.When will be safe and big Entry to Sell EUR/USD I'll let you know.
EUR/USD resistance 1.2397, but Stops to Entry as soon as possible.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 15 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
1.2301 is EUR/USD resistance.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 15 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
If EUR/USD 1.2150 channel line will be broken it will go much more Short.
Now small reversion Long. In algforex.com we have level for Sell after small reversion.
At night we did adding EUR/USD Short1.2247 break lower.
EUR/USD very strong Trend Short.Price now can not reach regular technical levels of resistance.So Today we'll Sell at market.Also we have USD Consumer Confidence (JUN). "Sell at Market" it means you are using your own Indicators and Sell when you'll feel comfortable.But DO NOT BUY EUR/USD it would be very dangerous.
Since 1.2387 next EUR/USD Target 1.2167.
At night I'll Sell EUR/USD near 1.2321.Or just Sell at market EUR/USD without big worry.
Now FOREX is best money making machine.
In algforex.com new EUR/USD Update and level of adding is done.
We did adding near 1.2350. Next out Target 1.2217.
We did Sell 1.2387.In algforex.com we'll do one more adding.
Everybody did Sell EUR/USD 1.2387. Hold this Entry as much as you can.
I would take small amount of Profit. And move Stops near Entry.Target ...#1 ... 1.2321.
Next level of resistance 1.2387.
Our trades based on Intraday - Daily reversion. Reversion level is Pivot level. Same time they are strong resistance or strong support. Resistance we do Sell, support we do Buy. Thees Entries are 2-7 pips accuracy. And Stops are 25 pips. Later after price moves 15 - 25 pips of Profit move Stops near Entry. Also we do trade follow broken Pivot. In this case I do make special note. It works just
Next week I'll start Free teaching for algforex.com subscribers.
I'll give you some basics how to make safe Entries and when do not trade.Also how to keep trade in Main Trend and how to make extra money on reversions.This way you'll be more successful trader and on your own.If this channel will be broken higher, we'll see 1.2403.
We did Sell 1.2350 one more time with one pip accuracy.
Take 1/4 ... 100 pips of Profit and move Stops to Entry.Later I'll do adding EUR/USD Short near 1.2327 - 1.2355.Entry getting lower, because of Channel Trend Short.
Very simple: 2 weeks we did Trade EUR/USD Long for reversion, now this week we are Short.
We trade with 2 pip accuracy and on this Blog.If you did Sell EUR/USD near 1.2353 Take 1/2 ... 90 pips of Profit and Stops to Entry.
We'll Sell EUR/USD near 1.2353, but Stops to Entry as soon as possible.
Still very strong Trend to break higher.
We getting close to our today's Selling EUR/USD.
Level of Entry just in algforex.com.Also I'll add EUR/USD short when 1.2200 will be broken lower, but for this Trade Stops as soon as possible to Entry.
Since June 5, first time I see opportunity back to EUR/USD Short.
Weekly channel is broken Short.So, after some Daily reversion Long I'll Sell.Safe Entry just in algforex.com.On other Trading Station is good to Buy EUR/USD 1.2250 against a trend until our level for regular Sell.Stops to Entry as soon as possible.
FINDING THE PERFECT ENTRY
While finding the perfect entry is the fantasy of every trader. There is no such thing. It is pure myth. If you get an exact top/bottom it is more luck than science. We have many indicators to help us to do this, but finding a good entry point can still be a challenge.While there are no perfect entries; there have to be entries that put the odds of success in our favor
I think the secret to getting a good entry is the waiting. I get more profitable trades than losses because I am willing to allow the trade to come to me. As a trader I do more waiting than trading. Many people don't get that, but the secret to getting your best market entry is in the waiting.
Here are some things that might help. Mark Yesterdays support and resistance , if you are near yesterdays support when you enter the market and price is moving in a bullish fashion, there is a high percentage that you can take your trade long for a good ride. If you exceed yesterdays high and you get a reversal, then you are probably in for a sweet ride to the down side.
If you are at a midpoint, you might want to wait for a pullback or bounce for a better entry. If you have enough distance from your support or resistance, then most of the time you are safe to follow that short term trend. This works best on a non trending or slightly trending market. In a trending bull market, sometimes you will dip down to just below the high of the previous day all the way down to the low of the previous day before price continues on in it's bullish pursuits. In a trending bear market, price might rally above the previous day's close and in rarer occasions all the way to the high of the previous day before reversing.
Never buy near yesterday's top or sell near the bottom unless you are in steps. If You sell near the previous days top or buy near yesterdays bottom, you are much more likely to get a break even trade if the market doesn't do what you expect.
Here is a great link that will show you roughly what your pair is going to do hourly and daily. It also shows you the times that your pair is most active:
This is only a guide, compare it to your charts to see how accurate it is overall.
Guys, you can do this and play with the big dogs, but you must educate yourself and employ the kind of discipline that puts you in the winners circle.
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6
MarketClub BONUS, 2 FREE MONTHS! Click Here
No Trade. First day this month I do not see opportunity for Trading.
EUR/USD resistance 1.2453.When EUR/USD did break 1,2345 ... 7 pips we still in bigger EUR/USD Long.
BEFORE YOU TAKE THAT TRADE
STOP!!!!!!!!!!!! before you enter that trade:Did You see how far it was from yesterdays support or resistance?
Is it ascending or descending steps?
Did You draw Yourself a trend line?
Did You wait for a proper trade set-up?
Are You going in harmony with Your current trend?
If You are going against the trend, did You ask Yourself,
"How far am I from the trend line?"
"Is this signal strong enough to make it worth the risk?"
"How far along is this trend?"
"What is an appropriate stop if I am wrong?"
These are a few questions You may want to ask Yourself prior to entering a trade (^_^)
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
At night we did not buy EUR/USD. Today our priority since yesterday is to trade EUR/USD Short.
In algforex.com we'll Sell EUR/USD much more.
We everybody did Sell EUR/USD 1.2341. New people Stops near Entry.
Later at night we'll see some reversion Long from level "X", this level is our Target #1 for Short. It's just for algforex.com subscribers.
1.2341 came with 1 pip accuracy, but it doesn't mean nothing. Manage your Stops. Do not risk more like 2% of your account.
It's still some possibility that it will break higher.
Still wait reversion Long EUR/USD until 1.2341.
Next Signal just in algforex.com.Also I'll take about 300 pips from reversion EUR/USD Long since 1.2051.
DEMO ACCOUNT
I am always telling new traders to practice on their demo account until they become consistently profitable.
WHY?????
Because I have found that it is a way to program a success pattern in your mind. Your mind doesn't distinguish between a live and a demo account, however we do. Sometimes we allow emotions to interfere with the successful program that our mind is running once we get a live account.
We want trading to be so ingrained in us that it is almost instinct. Your demo gives you the opportunity to train your mind toward automatic success.
Your brain begins to recognize patterns of success as you practice on your live or demo account, it doesn't matter which one?.
As a trader, every time you enter the market, you take a risk.
YOU CAN NOT BE BE AFRAID OF RISK!
But you must make SMART, CALCULATED RISK in the market. Risk no more than 2% of your capital in a trade. 2% on the right side of the trade is more than enough to provide your with a very comfortable life style. 2% on the wrong side of the trade can also take you out. That is why smart calculated risk give you the biggest advantage in the market. When you don't over trade your account it gives you more control over your exit as opposed to being forced out of the trade by the market.
ENTER THE MARKET WHEN YOU CAN SEE A CLEAR ADVANTAGE!
Use your demo up, blow it up several times if that is what is necessary for you to gain an understanding of what is going on in the market.
Take your demo seriously. Practice your successes and it will help your mind begin to eliminate those habits that are counter productive to good trading. Practicing success in your demo translates into success in your live account.
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6
It's good to take some 200 pips of Profit from last Update 1.2051 Long for reversion. Never Close Trade 100%.
Still do not Sell EUR/USD.Much later we'll see reversion Long from lower level, but this Signal just in algforex.com.
Do not Sell EUR/USD.
Today in algforex.com we did have EUR/USD reversion Long since 1.2051. After 20 - 30 pips of Profit Stops near Entry.
New Update coming in algforex.com
New people doing O.K.. They did Sell 1.2077. Moved Stops near Entry after some Profit 30-40 pips.
RUNNING PRICE
Many times when price is running like a mad train on steroids, it is very unsettling because all of your emotions are screaming for you to jump aboard. The problem with that is many time that same train that seduced you aboard will often abandon you at the station leaving you wondering what happened??????
One of the most difficult temptation to resist in trading is the urge and beckoning to follow running price. Running price will often leave you stuck at the top or abandoned at the bottom. When your eyes see price running, all of your emotions are screaming for you to jump aboard. DON'T DO IT! Many times it is a trap that will leave you licking your wounds. When you get off of the ground all scraped up, you still aren't sure what happened because you were in harmony with your trend. Many times price will speed up just before the critical end of that run.
Now if you are aboard a trend and price starts on super steroids x 20 then you might want to begin looking for the nearest exit point. It doesn't always happen like that, but I have seen it often enough that I never jump into running price, even though my emotions are still screaming for me to.
While I am looking at price accelerate, I am thinking "look at all of that money you missed, and you knew it was going to keep going" or thoughts like "crap you should have gotten in, you missed your chance." My Friend the market will give you another chance!
I would rather miss out on an iffy trade for a sure one any day. When things settle and I can see a clear advantage then I can enter the market with logic instead of emotions....
Study Your charts and learn the price rhythm of your currency pair or pairs
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
http://www.ino.com/info/447/CD4033/&dp=0&l=0&campaignid=6
Now if EUR/USD will break 1.2077 ...27 pips higher we'll see bigger reversion.
Yesterday in algforex.com our prediction was that we'll see reversion from 1.1967 until 1.2077.I'll Sell 1.2077 smaller amount. For new people Stops 25 pips. If you are new, later take some 30-40 pips of Profit and move Stops near Entry.But never close Trade 100% if it is in Profit.Old Traders we trade EUR/USD Short long time we do not scare about reversions to much.We at support levels taking
We did Sell EUR/USD 1.1987. After some Profit, new people Stops near Entry.
This year is best life time opportunity to solve all your life financial problems.Also it's best time to make strong financial fundamental for your future. If you are 4 weeks fallow algforex.com you do not need Stops for now.You are in huge Profit. We just Selling EUR/USD and every week since January.
Now EUR/USD from 1.1912 will go Long for reversion.
So we still do not Sell.Level for Sell just in algforex.com.
Now we have 340 pips just since last week last Entry.
Every week I do start New Entry and forget last one.We selling EUR/USD since January, so you imagine how many open Entries we have per these 5 month.
LIKE FINE WINE
Like a fine wine the surety of a trend reversal gets better with time. The more a trend has aged, the more likely you are to get a valid reversal.The older a trend gets the more ripe it is for falling off, and the more likely a new more robust trend will take over. A trend that is young and vigorous maybe side tracked briefly, but is not very likely to be defeated. The end of the uptrend says that the last of the big buyers are gone and the end of a down trend says that the last of the big sellers are gone and that trend has now become ripe for a take over.
Think of a trend like a young lion protecting his pride, another lion is not likely to usurp his authority. As he gets older, he is much more likely to lose his pride in defeat to a younger more energetic lion. The same is true with a trend as it gets older it becomes much more likely to be taken over. When considering whether or not to take a reversal (especially in the short term) gauge the age of the trend first. If the trend has just begin then you are not likely to have a legitimate reversal on your hand. If the trend is still very close to the trend line then it is not likely to be a valid reversal.
There are no absolutes in the market, but you do need to keep an eye out for things that put the odds the most in your favor.
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
We got our Target #1 about 200 pips. Take 1/4 of Profit. Later looking for 100 pips more. But it is not end of this last Entry.
Today do not worry about USA Non Farm Payroll.Hold all our Entries as much as you can.Today no more new Entries.Do not subscribe today algforex.com. On Monday we'll do new Update and safe Entry.It's possible some reversion, but this Signal just for subscribers on Monday.Now FOREX is best money making machine.Remember - it is easier to ride the trend then to bet against it.This year we do Sell EUR
FEAR
How many times have you let the perfect trade pass you by? The trade that was screaming for you to take it, but fear kept you from pulling the trigger; then once you saw what a 'fat trade' it turned out to be; you beat yourself up.
Most of us have heard that classic acronym for Fear:
F-False
E-Evidence
A-Appearing
R-Real
There are a million ways to be successful in this market, but most people defeat their own success with fear. Fear is that paralyzing emotion that happens when you feel certain that you should pull the trigger, but can't.
As a trader, Fear can be an almost constant companion.........
How do you tame this beast??? What can be done about this monster that creeps into your psyche and holds you hostage????????
If you find yourself victim to this dreadful enemy. Stop trading your real money and paper/demo trade for a while. Make note of every trade and write down what is working most of the time. When you miss it, write down what happened and what you can do to improve your odds. This will take the discipline that most people lack, but it can be a big help. Also feed yourself new messages about your ability to succeed in this market. Read about others who are doing it and how they are getting this done.
A solid education will also help tweak and perfect your skills. The Market is an arena that is always offering you an opportunity to sharpen your skills. Learn, Learn, Learn.
Practice pulling the trigger on trades that are showing you a clear advantage and practice letting them ride into glorious profit. "Remember the shorter your time frame, the shorter your profit run will be...........
You have got to talk to yourself about who you are, (ex: "I am a super forex trader, making more money in the market than I can spend.") Don't keep feeding that demon that's telling you 'this won't work for you'. The one that keeps telling you when you take a hit, 'you can't do this', or 'GOD helps everyone else but you', or any of that other nonsense......
I would say that your mental ability to play this game is even more essential to your success than your education. You can not be afraid of good smart calculated risk if you are going to win at this game.
You are looking for trades that stack the odds in your favor. Trades that are showing you a clear advantage. Trades that are begging you to come and partake of the sweetness.
Every time you enter the market you take a risk, but you want to find the lowest risk entry trades. There will be times that despite your best efforts, you will still miss it. So what, cut the legs off of that monster, save your capital and thrive to trade another day. The market is very generous and will give you the opportunity to make your loss back and so much more. If you took a hit yesterday, so what; that no longer exists. Today is a new trading day filled with new trading opportunities.
When I take a hit, I just wait for another good entry and usually I will get all of the money back that I lost in the hit and then some. THE MARKET IS VERY GENEROUS AND WILL GIVE YOU MANY OPPORTUNITIES FOR PROFITS.
1. Exceptional Trading requires discipline, patience, education, good money management and the ability to pull the trigger on a good entry in spite of any present fear.
Demo trade, Demo trade, Demo trade, and fill your head with good positive things about your ability and who you are as a trader until you are consistently profitable and until you can pull the trigger on trades with confidence.
YOU CAN DO THIS (^_^)
Get 10 Trading Lessons FREE
Subscribe to:
Posts (Atom)
