Waiting for Update
Trade Context is Busy
Bid – Ask
MT4 charts are bid charts
Margin

Waiting for Update
“Waiting for Update” is a common message with a new account or when switching between a mini
and a standard accounts. There is an easy solution. Go to the Market Watch window, left click
and hold down the mouse key on the pair you want to see in the chart and drag that pair onto
the chart that says “Waiting for Update”.  Release the mouse key and this will automatically
update the chart.

Trade Context is Busy
You receive “Trade context is busy” when you try to process two or more orders at the same time.
If you have placed a trade and do not wait until it processes completely and then try to place
the same trade or a different trade, the commands go into a loop and you get “Tread context is busy”.
The only solution is to close down the platform and restart it.

Bid – Ask
All Forex quotes have two parts, the BID and the ASK.
The Bid is the price at which you (as the trader) will open a sell.
The Ask is the price at which you will open a buy.
The difference between the bid and the ask price is known as the spread.

MT4 charts are bid charts
The current price shown on an MT4 chart is the bid price. When looking at a price bar or candle,
you must add the spread to the high bid price to know what the high ask price would have been,
or add the spread to the low bid price to know what the low ask would have been.

If you are in a sell (in at the Bid out at the Ask), you would not see the candle reach your stop
loss if you are taken out of the trade. For example with a stop loss of 1.45800 on the EURUSD once
the chart reached 1.45780 (2 pip spread) you would be taken out of the trade at 1.45800. Your take
profit would not trigger until the ask price hits.  For example with a take profit of 1.45400 on
the EURUSD once the chart reached 1.45380 (2 pip spread) you would be taken out of the trade at
1.45400. These examples are based on our spread shown under normal market conditions. Our spreads
are not fixed and will fluctuate with news or other high / low volume conditions.
If you are in a buy (in at the Ask and out at the Bid), you will see the bid price on the chart.

Margin
Margin is the amount of necessary money needed to place/maintain a position.
Margin Level Percentage is calculated by taking:
Equity/Margin x 100 = Margin Level Percentage
Equity (your true Account Value) is your Balance +/- any open positions.
In normally leveraged accounts.

When a margin call occurs, all open positions are subject to liquidation at the prevailing market
prices without prior notice to customer.

Do you still leave trades on hoping they will come back.  You know the “blowout trades”
that take all of the money you just made, and put you back to where you started or just
plain wipe out your whole account.

“Are You Set To Make The Wrong Decision On Your Next Trade?”

If you are not set to make the trade that your tested trading plan dictates you should make,
then your are set to make an emotional trade.

Do you keep making the wrong trades all the time?  If so most likely you are the problem.
It is not the trading system you are using, or the market, or the limited time you have to trade,
it is YOU.  You are the common denominator.

Solution:

Know your trading system
Follow the trade tracker
Keep a trading journal

Then

Make a trading plan
Follow the trading plan

These simple steps will help you develop the discipline to become a successful trader.
It is simple but it is not easy if you want to take short cuts and play the get rich quick game.
It takes time to develop the skill; patience, discipline, and persistence to become a successful trader.
But it is worth it when you get there.

This is the way we like to take the higher probability trades.  When we get a signal on
the 15 min or 30 min time frame then we look at every thing up to the 4 hour and see if
the signal is going in the direction of the trend on each of the larger time frames.
If they all give confirmation then you have a better chance of getting a high probability trade.
If you do not have confirmation of the trend on all time frames the strength of that trade is weakened.

You need to learn to use all of the indicators in our courses so you can determine what to look for.
If you have patience, and follow your trading plan then you can become successful at trading.
Once you have a solid understanding of how to trade manually and can read all the signals then
you can use the alerts to bring the trades to you rather than having to spend time looking for
the trades.

The Alerts are based on the entry signals in our courses.  They save you time looking for trades.
You can watch many currency pairs at one time and only take the best trades.  You will always know
which pairs are moving on any given day because the alerts will give you heads up.

The advantage a trader has is to be able to spot trades that will give them a greater chance for success.
Since trading cannot be 100% then we have to be concerned about the 15 to 25% of the time when we are going
to be wrong.  To have a better gauge of how successful a trade might be one has to get knowledge,
experience, and practice.  To become a successful trader it is not so much about having big winning trades
but having more winning trades than losing ones. Trading is a numbers game so you can expect to win some
and lose some.  It has a great deal to do with how you manage your trades.  When a losing trade is managed
properly it can be a small loss rather than a large loss.  When a winning trade is managed properly it can
become a larger win if you don’t get greedy.

To become a good loser you need to learn the difference between experienced losses and losses that cause
suffering.  We first need to get the education and logic behind trading then we need to strengthen the
emotional side of trading.  Having a trading system the gives exact entry and exit points can do this.
Systems that move with the market to let you know when to get out.

One of the basic laws of trading is to use and stick to a trading system. That
means you use a trading system and have done enough paper trades to know what win-loss ratio to expect over
a span of at least 100 trades. This can be done in increments of 20 trades and keep track of the results in
the trade tracker.  If you need to do 100 trades after you have figured out what works then the extra time
will be well worth it.  Once you have figured out what works for you then you must use the same criteria
and procedures on every trade. No exceptions. Paper trading makes it safe because there is nothing to fear
because there is nothing to lose. You just won’t sit there and lose money in order to experiment to see
what works if you are trading real money. This is one reason that 80-90% of new traders fail; they do not
learn how to trade before they try to become rich. This is one thing for sure if you want to be successful
at trading you need to study and practice.  If you don’t learn how to trade before you start trading with
real money you will go through a great deal of fear and pain.

Once you have developed the skills to follow a mechanical system.  Knowing how to pick a high probability
trade, set your stops, and manage the trade, whichever way it moves then you are ready to move to the next
lever.  You are ready to open a live account.  This is where you will encounter loosing real money and
having to admit that you were wrong on a trade or two.

You might say I am looking at charts, the indicators, price movement… what else should
I be observing? Let’s make a list of the things you need to look at.

How am I feeling?
What is my emotional state?
What is my self-talk before, and after the trade?
What is my thinking?
What patterns did I observe?
Did I follow my rules?
Did I hesitate or just take the trade when I saw the signals.

Once you get use to different things you need to keep track it will come automatic
and you will not have to think about it. Your goal is to become a mechanical trader
see the signals enter the trade, manage the trade, and exit the trade. Look for the
next trade and repeat the process.

Be aware of your environment and what is going on inside and out side of you.

Trade Good,

A trader has to have a record keeping system to know how many wins and losses he has,
he must know what his win loss ration is.  Not that he won a few and lost a few trades.
A trader can all have a big loss or win and not know how many smaller wins and losses
he has had.  One way is to keep a trade journal.  Keep track of the wins, losses, how
they felt the reason for the entry and exit of the trade.  Most successful traders
review each trade after it is completed; record the results and total up the reasons
in each category as to what happened on the trade.  He tracks not only the numbers but
also his feelings.  Were the trading rules followed what he did right and what he did
wrong in relation to the trading rules.  Another thing to keep track of is: was his
confidence stronger or weaker. By Identifying areas of strength or weakness then a trader can work on areas that will
improve his overall trading. 

Something else to look at is: can I find and afford a mentoring program.  Having someone
to teach, guide, and debrief you on your trades can be of great help in on your path to
successful trading.  As each trader finds out early on trading can be a lonely endeavor. 
At least having someone to talk to that has gone through the same things you are going
through may make the difference of making it in the trading business or not.  Fifty
percent of trading is mental, so a trader needs to ask themselves what they are doing
to get control of the mental side of trading?  If a trader says I don’t need that stuff
I know how to get in and out of the market then: they probably really need this kind of
help in their trading.