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!
YOU CAN DO THIS (^_^)!
06/12 Intraday Update.
EUR/USD Sell near 1.2543AUD/USD Sell near 0.9937USD/CAD Buy near 1.0227USD/CHF Buy near 0.9567
Today will be difficult to get correlation between US currency and others.So EUR/USD would go still for reversion Long and on other Trading Station in algforex.com we'll Buy EUR/USD.
GBP doesn't correlate. It means ,- No Trade.
But we'll buy AUD/USD and NZD/USD.Entry Levels we'll show later and there.
GBP doesn't correlate. It means ,- No Trade.
But we'll buy AUD/USD and NZD/USD.Entry Levels we'll show later and there.
WHO'S TRICKING YOU????
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 (^_^)!
4 weeks we're Selling EUR/USD. Today is Friday. And after USD Change in Non-farm Payrolls (MAY) will be some confusion.Investors made lot money.Everybody wants to take time of and leave the City.
We'll see some reversion Long.So Today is not good time to make adding EUR/USD Short, but just leave all our positions opened. We'll talk on Monday.
We'll see some reversion Long.So Today is not good time to make adding EUR/USD Short, but just leave all our positions opened. We'll talk on Monday.
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