You know you’re doing something wrong in FOREX Trading when your stomach is stiff like a rock and your mood is so bad you don’t even dare to admit it.
You may have broken all your trading rules insisting on choices that are catastrophic or just realized you actually have no rules because you don’t feel confident with any System ….or you haven’t a System at all.
If you think you’re alone….you better think again. I’ve been in that position when I was starting out with FOREX. This is the most frequent “situation” for almost 90% of traders.
It takes a lot of courage and quality of character to make a mental shift putting yourself on the right track. You need to change your mentality. Successful FOREX Trading is about being with the majority of investors for as long as possible.
Trading should be fun most of the times, otherwise it starts eating you from inside. In order to be fun, you must know what you're doing. To know what you're doing you need a System which guides you through your trades. I hear analysts, read blogs, news, discussions, “de profundis” technical details, predictions, prophecies, opinions, assumptions, forex horoscope, market's oracles, experts, gurus.....noise....noise....noise...
It’s not about being a sort of genius who predicts Trend Reversal early. It’s not about riding the waves till the last pip. It’s not about Trading like there is no tomorrow. There will always be tomorrows, new waves, new opportunities. In fact, they’ll be countless. Their profit potential will be so huge, you’ll have difficulty to comprehend its magnitude.
Think of Capital Markets as a vast ocean of gold. You can’t take all that gold no matter how big player you are. You can only take as much as a “boatload”. Or just a few buckets. Yes, consider yourself blessed if you take a few buckets of gold ! Because most traders get drowned in this vast ocean. Sea water might give them a chance of survival. Gold won’t. This ocean is really wild.
I learned the hard way, that I can be more than happy if I manage to earn 20 pips a day. 50pips a day can make me rich. What about leaving hundreds of pips “on the table”? They’re destined to other investors’ buckets or they may form the next wave that will drown many.
A truly robust Forex Trading System, secures you from getting drowned in the ocean of gold, while helps you fill your bucket drop by drop. Respect the Markets. Respect yourself. You don’t need complex formulas in order to trade successfully. The System I’m presenting in this Book uses MACD (Moving Average Convergence Divergence) and EMA’ s (exponential moving averages). It’s extremely simple and easy to understand while it’s true fun to implement. It utilizes Entry Rules that may let you in with a small delay and its Exit Rules may cost you a few pips. But if you use it on Trending Markets absolutely respecting its rules, will help you fill many buckets ;)