Forex Trading – The Biggest Lesson!

Forex Trading – The Biggest Lesson!

The Forex Trading Journey.. If I looked forward 4 years and 7000 hours, I probably would not have started in the first place. The drive for me, and it is different for everyone, is that this type of business(Forex Trading) can bring a lifestyle that most people only dream about. Well I’m not in the dream state just yet, but I am getting there. One of the BIG reasons I got into forex trading is the fact you can work from anywhere.

I always had a dream of working from a boat.. Laptop, sunshine and a cool drink, and making a living, oh yeah!! When I started, I would have given anything to have someone teach me the RIGHT path. You know, Forex trading is like trying to find your way through a jungle with no compass. There are people out their that will just rip every dollar out of your pocket, and never think twice about it, personally, I don’t know how they can sleep at night and even live with their own conscience. There are a lot of systems out there, and most have not been well back tested, which means they look fancy on the surface, and believe me, I have seen a lot of great forex trades when these gurus show you past history charts, and say things like, ‘well look here, here is a great trade’. It took me a long time to steer away from all that and get back to very basic market forex trading, reading the market and understanding why the markets move like they do.

Let me go into a little bit about BACK TESTING. Probably the most essential thing as a skill for any new forex traders. It does two things. Lets say you come across a system that you think is profitable, you back test it over a period of say 5 years, and if you are consistently making money in that period in forex trading, and you are growing your account, then you will have more confidence in trading this system when you are in a losing period, which WILL happen, and its one of the biggest hurdles to overcome in trading. Physiology of forex trading is another area that you have to consider. Nobody likes to lose, it’s just human nature. When we have a loss, we start to have doubts creep in, and our subconscious is relating this to pain from our past experiences with losing. Back testing is very important to not just new forex traders, but to all traders, even experienced forex traders still back test. Best regards, David.

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  • SECOND PROBLEM: TREND RELIABILITY

    Most systems use various indicators to determine the trend. Actually, there is nothing bad about using indicators. One Simply Moving Average can do the job. The problem comes with the question: “Is the market trending NOW?” Whether the market is trending or not trending is not like black and white. The correct question is: “How well the market is trending?”

    And here we have something called TREND RELIABILITY.

    Trends exist and they can be traded up and down for a profit. You have to focus only on the most reliable market trends. “Forex Trendy” is a software solution to find the BEST trending currency pairs, time frames and compute the trend reliability for each Forex chart:

    ==> http://www.forextrendy.com?nsjjd92834

  • Chart patterns such as “Triangles, Flags and Wedges” are price formations that will provide you with consistent profits.

    Before the age of computing power, the professionals used to analyze every single chart to search for chart patterns. This kind of analysis was very time consuming, but it was worth it. Now it’s time to use powerful dedicated computers that will do the job for you:

    ==> http://www.forextrendy.com?kdhfhs93874

  • user2 srsoftwaresolutions

    July 20, 2018 at 7:00 am

    Do you think that to dramatically improve your success rate you have to read tons of thick books, buy expensive software and spend countless hours of learning more about Forex?

    What I’m going to share with you is something very EASY to use and very POWERFUL at the same time.

    Let me give you an EXAMPLE:

    Imagine you trade a system that makes 50% winning trades, but another 50% are losing trades. If you increase your odds of winning by only 20%, that would make 70% winning trades and 30% losing trades.

    Well, HOW TO accomplish that?

    Just pick the best trending pair at the current time and simply follow the trend! I have found ONE INCREDIBLE TOOL that continuously scans the Forex market and picks the most reliable trending pairs for you.

    http://www.forextrendy.com?vhbshygdf398432

    By taking signals in the direction of a strong trend you would REDUCE UNNECESSARY LOSSES and increase the odds of winning. You need to know “how well” the market is trending to avoid very short-term trends.

    STOP hunting the market for every potential trade. Pick only the best trending pairs and time frames and DO NOT take any trading signals in the choppy market (unless you know exactly what you are doing).

    Successful traders keep it simple and this is the way how the pros made fortunes in the markets – by trading less and making more.

    To increase the profitability of any system or robot you are currently using, check out this easy and powerful ultimate solution:
    http://www.forextrendy.com?vhbshygdf398432

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