SAVE YOURSELF!!!!! - forex trading books beginners

SAVE YOURSELF!!!!! ~ forex trading books beginners

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 dont 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. DONT 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. DONT 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. Dont let them sink You. SAVE YOURSELF!

YOU CAN DO THIS (^_^)

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A LOSS IS LIKE A RATTLE SNAKE - forex trading books best sellers

A LOSS IS LIKE A RATTLE SNAKE ~ forex trading books best sellers

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.

Lets deal with some hard facts about trading:

#1 YOU ARE GOING TO LOSE MONEY HERE!

This is a big girls 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 dont care how brilliant a surgeon is, You dont 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 (^_^)

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