QUESTIONS AFTER THE HIT ~ forex trading books free
When you take a hit, you have got to think your way through it logically.
Questions to ask yourself when you have taken a hit. What is the lesson here???
What did I learn????
How can I avoid this next time????
What is my strategy the next time I encounter this situation????
Did I remember to pat myself on the back for the good trades this month?????
Did I remind myself that I have had many more successes this month??????
Did I remind myself that this is just an opportunity to do it better next time?????
Did I use proper discipline????????
Did I wait for a proper trade set-up??????
Did I follow my trading rules????????
How long am I going to wallow here???????
Did I remind myself that the market is very generous and will always give me plenty of opportunities for profit???????
Do I have more money now than I did at the beginning of the month????
If YES, you are ok. You are out to win the war, though you may lose a few battles. If you have gained 90 dollars for the month and you lose $8, then you are ahead of the game by $82.
If the answer is NO and you are consistently taking hits, then STOP and RETHINK your strategy, There is something WRONG!
No one can tell you how to trade; all they can do is share their experience and you will have to tweak it to fit your trading style. Thinking through your losses logically will give you the best advantage over reacting emotionally . NEVER EVER USE A LOSS AS AN OPPORTUNITY TO BEAT YOURSELF UP. IT IS AN OPPORTUNITY TO GAIN AND INCREASE YOUR KNOWLEDGE
YOU CAN DO THIS (^_^)
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TRADING PREDICTABLE ~ forex trading free books pdf
There are times when the market is murky, cloudy and choppy, but there are the sweet times when the market is crystal clear like a cool refreshing spring. That is when you want to be in it. Many traders try to swim in all market waters. This is a big mistakes. Dirty waters are full of sharks.
IF YOU DONT CLEARLY SEE AN ADVANTAGE; DO NOT TRADE!!!!!
IF YOU CAN NOT SEE A TRADE SET-UP, IT IS PROBABLY BECAUSE THERE IS NOT ONE.
You may wait a whole day for a market set-up, never to get one. That is when traders get antsy and agitated and begin creating trades from thin air. Mostly ending up on the wrong side of the trade. WHY gamble with your capital like that?????????? THAT IS DUMB.
When the market is lost, let it wander, but you stay out. It is hard, I know, as all of your emotions are screaming at you not to miss out. Miss out on what??????
What you are missing out on is the set-up for the BIG KILL. SOMETIMES THERE IS NO TRADE and if you are wise, you except that and go find some other way to occupy your time. If you are no a pro, dont play the out-smart-the-market game, it will make road kill out of you fast. You may get away with it a time or two, but you can be sure that eventually it will catch up with you, because market strategies dont stay the same. It only takes that one 200-400 pip shake out day to change your world for the worst.
Trade when your trades are more predictable than not. Trade when the waters are cool, refreshing and crystal clear. Trade when the market is sending you a VERY CLEAR invitaion to jump in. If the water is murky, you can believe there are sharks. SWIM AT YOUR OWN RISK !!!!
YOU CAN DO THIS (^_^)
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