THE FOREX TRAP GAME
Every day big forex players set traps for little less experienced traders, and as they predict most of the less experienced and sometimes the more experienced traders fall in and lose their monies. Why???? Because trading forex the right way takes the extreme level of discipline that the big players know most people don't possess. The inexperienced trader often possesses the same knowledge as the pro, but the difference between the two is in the execution. The pro will trade a good plan with a very very high level of consistency while the less disciplined trader will try to wait out traps that he has fallen into with the hope that the market will eventually turn and come back in his favor sometimes losing days of sleep waiting for this miraculous turn about. This is the trader that big banks and institutions love because it is this poor undisciplined soul that the banks count on to make their nice lavish livings. It is the truly disciplined profitable traders that the banks lose paper on.
Everyday the banks and institutions use their financial advantages to move price in an artificial direction for a short period of time often creating what looks like a legitimate profitable trade set-up. The traders who see this advantage quickly follow the price move only to find themselves trapped soon after the move has begun. Now this is where the banks find their feeding ground as they know that only a handful of traders have the discipline to cut this small loss and wait for a better trade set-up. They know that most traders are going to cry, pray and beg GOD to do what they had the power to do all along; the next thing You know most of those guys have gotten a margin call and a large amount of funds are transferred from many many small traders who often can't afford it into a few large fat accounts.
This happens day after day after day and the sad thing is most traders don't get it and end up in a debt hell that creates their worst nightmare on earth; while the victors are laughing about their score all the way down to the bar where they will spend a few thousand dollars before they retire for the evening waiting to play the same set-up on unsuspecting traders the next day. It is the sweetest money making deal on earth, and it never changes.
DON'T LET THIS HAPPEN TO YOU!!!!!!
BE SMART AND FREE YOURSELF FROM TRAPS IMMEDIATELY!!!!!!!!!
DO NOT MOVE YOUR STOPS, IF YOUR STOP IS HIT, IT IS PROTECTING YOU FROM GREATER LOSS.
IF YOUR STOP IS HIT IT MEANS THAT YOU DON'T HAVE THE ADVANTAGE THAT YOU THOUGHT YOU DID AND YOU WILL JUST HAVE TO TRY AGAIN.
TRADING WITH DISCIPLINE IS THE ONLY WAY TO ENJOY ANY REAL SUCCESS IN FOREX. When the market traps you in a disadvantage, it will devour you without mercy!!!
SO FREE YOURSELF FROM EVERY TRAP!!!!!!
Wait for a proper trade set-up and when You see an advantage, go where the money is going.
Don't allow the money to move too far against You, otherwise Your goose will be cooked.
It happens everyday, don't allow them to keep tricking you the same way, and unless you trade with superior discipline, STAY OUT OF TIGHT CONSOLIDATION, it is too much of a gamble....
YOU CAN DO THIS (^_^)!
We did Sell EUR/USD 1.3077.
Now manage your Stops.Do not risk more like 17% of your last 3 days Profit.
Yesterday our Update was:
EUR/USD Sell near 1.3277GBP/USD Sell near 1.5817AUD/USD Sell near 1.0787NZD/USD Sell near 0.8373USD/CAD Sell near 1.0037USD/CHF Sell near 0.9147
Today we'll see some chapping.
In algforex.com we have Update for EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CAD and USD/CHF.Later we'll show and here.
02/08 Intraday Update.
One day per week we do give you Signals for free.EUR/USD Buy near 1.3207GBP/USD Buy near 1.5861AUD/USD Buy near 1.0777NZD/USD Buy near 0.8335USD/CAD Sell near 0.9985USD/CHF Sell near 0.9137
Still same Update:
EUR/USD Buy near 1.3087GBP/USD Buy near 1.5781AUD/USD Buy near 1.0677NZD/USD Buy near 0.8281USD/CAD Sell near 1.0017USD/CHF Sell near 0.9201
It was good to take Profit from yesterdays' EUR/USD 1.3200 and Sell CHF and CAD.
Our last Update in Asian session was:EUR/USD Buy near 1.3087GBP/USD Buy near 1.5781AUD/USD Buy near 1.0677NZD/USD Buy near 0.8281USD/CAD Sell near 1.0017USD/CHF Sell near 0.9201
THE TWO JOBS OF EVERY TRADER
Traders obtain all kinds of knowledge, build successful trader's vocabularies and spend a fortune on classes, webinars, robots and other complicated systems trying to learn to be successful in the market. The problem with most traders is that THEY COMPLICATE TRADING, heck You don't have to do many things in forex to be successful, but there are two jobs that every traders must master in order to be a true success in forex.
Job #1
PRESERVE WEALTH
Job #2
BUILD WEALTH
Number 1 is much much much more important than number 2 because You can not build on wealth unless You first preserve what You have got. I believe that not preserving the wealth that they already have is the number 1 mistakes traders make.
Preserving wealth and building wealth, doing these two things consistently will bring You more success than doing many complicated things. The traders who are successful are successful more because they are disciplined than they are smart. After some education most of us know the same things; so why is it that a few people are successful here and most are ever grasping at success, but never fully tasting it. It is because while we all have the knowledge, only a few will practice it consistently. I am not successful because I know more than You, I am successful because I am willing to do what most traders fail at. I first preserve wealth by cutting bad trades quickly; secondly I build wealth jumping back in when I see an opportunity and letting the really sweet fat trades run and run and run. As a trader, You will have more chances to enter bad trades than You will good trade, so make the good ones really count.
Successful traders can pass along ideas for forex mastery and success, but no one can really tell You the best way to trade because there are many ways to be successful in forex, but once You have honed in on a good system, trade it consistently and You will come out ahead. No matter which system or time frame You choose to trade remember Your two jobs everyday............
PRESERVE WEALTH!!!!
BUILD WEALTH!!!!
YOU CAN DO THIS (^_^)!
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