For the record I love ham and eggs.  This is not a plea for pita.  I saw this quote and had Awe ha! Moment, I wanted to share.
Let me ask a personal question.  How do you trade?  Like a pig or like a chicken?  A pig trader is one who jumps into the market unaware of the risks the conditions of the environment inexperienced in the navigational skills of forging the waters.  They foolishly throw all they have at it with no thought of the consequences.  They feel that the market owes them something after all the market was made for them just like the farmer’s slop.  They fail to see the end result because they are caught up in the moment.  They become all consumed by the moment that they fail to see that they are losing everything.  The end of this road leads to a bleak end, nothing to show for it, and worse off than when they started out.
The chicken on the other hand produced small results every other day or so.  Only because they developed the ability over time practiced and perfected do they lay an egg.  Each time they do it does take effort properly selecting the right position to begin and knowing the outcome before entering the next box.  The chicken trader understands the importance of process, effort and repetition.  After each day a perfect little packaged, a record of the fruits of its labor.  A little effort everyday results in a life of productivity.

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I was reading an article about a guy who started a computer business when the industry was new and growing.  As he grew and was successful he noticed that there were many others doing the same thing.  There was no longer anything unique about his company.  He decided to take the gamble of focusing on data storage.
He said that even though a company may downsize the data never does.  So he felt that there would be a place for his business for a long time to come. Keeping track of data storage for companies.
I was thinking how this is like the currency market.  A currency pair may trend or channel but there are still good trades and an opportunity to make you some pips.  News comes and goes the currency pairs go up and down.  If you specialize on learning how to use some indicators you can trade any currency pair that is making a move rather than only trading one or two currency pairs.
What we are saying is, specialize on learning how to use a few indicators and not generalize in learning a lot of currency pairs.  You might have your favorites but be ready to trade any currency pair that is moving.  This way you will be an indicator specialist being able to move between the time frames to find the best entry point.
Be good at the trading platform and the use of a few indicators to enhance your currency-trading career.

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Take a look at your trading if you are not doing well, you will most likely find that you are not trading in the present.  You may be over thinking the market.  Your thoughts may be on past successes or past failures which take you away from trading in the present.  You could be thinking about all the money you will be making or all the money you have been losing.  All of this noise is just taking you away from the present and what the market is really doing.

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I was reading a statement by a trader the other day and I found it quite amusing.  This is what he says “Lately it just seemed that some folks where hanging out to catch a trade call and make some money.”  I am not sure what a trade call is but I was thinking that most people trade the currency market to make some money.

This person goes on :

“Which we know that later on down the line it will all backfire and then someone will get upset because the account just had a margin call”.

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As a trader we need to accept the fact that we will lose some of the time.  If you understand this, then you must have measures in place to protect yourself from the losses when they come.

We can’t avoid all losses, but we can manage our risk. The first thing you need to do is define your risk. One way to do this is simply by using a protective stop. Another way is to have a predefined number at which you will halt all trading if too much of your balance is lost. Know what your risk is in advance and have a plan to deal with it before you find yourself losing a large portion of your account.

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If you feel stuck in your trading you don’t seem to be able to make any considerable progress.  Maybe you are lousing a little then maybe you should go through your mission statement and business plans again. Review these and reacquaint yourself with what you’re trying to accomplish.

Maybe, you need to get back to basics and take a refresher on the fundamentals. Vince Lombardi would say at the beginning of every new season by holding up a football in front of the team: “This is a football.” He would start with the basics and build from there.  When you get to the professional level of playing football you know what a football is.  He was trying to stress the point that the basics are of great importance.  You might go to baby pips.com and do a refresher, graduate again, before you lose all of your confidence and your account.

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We thought this would be helpful for those who have two versions of the platform or multiple computers and want the same set up on all platforms.  These are the instructions of how to move profiles, templates, indicators, etc. from one platform to another.

How to transfer profiles, templates, indicators, etc. from one platform to another

If you would like to transfer indicators, templates, profiles, etc…  from one installation of the platform or computer to another computer or separate installation of the platform please try the following.

1.       Go to MY COMPUTER  (or COMPUTER for Vista Users)

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I just read an interesting article about when to stop trading live and go back to demo trading.
Go to demo when you have lost 9% of your account.  Trade on the demo account one week for every 2% of your account that you lost.  We all know that it is better to have some money to come back to when you start to trade live again. 
There is more to the article but this is what struck me as being of up most importance.  It gives us a set point at which to stop trading live.  There is no guessing it is straight forward.
Once you have figured out what you have done wrong by going back to basics, you can start trading live again.  I thought this would be a good simple straight forward approach on how to get you back in the game.
I think you could even set the loss % to maybe 5% when you are first learning and have just started to trade live.  It is better to protect your capital rather than have to save up again.  Be cautious and conservative and you will be around as a trader long enough to become successful.

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I came across a couple of quotes I want to share with you:
“Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes” Jesse Livermore
“In order to make a success, the trader must act in a way to overcome the weak points that have caused the ruin of others”  W.D. Gann
The reason indicators work in any financial markets is because human nature never changes.  We remain greedy, emotional, and want things right now.  If we can trade by using a system and following rules then we are doing the things other successful traders do.  If we chase trades get caught up in one trade that is causing us problems and want more than the market is willing to give then we will do what most of the unsuccessful traders do and that is flounder.
Another way of looking at the quote by W.D. Gann is:  If you keep doing the same thing you have always done then you will keep getting the same results you have always gotten.  A trader needs to identify their strength and weakness then work on correcting their weaknesses and improve their strengths.
I once heard it said that: “It is insanity to think you can keep doing the same thing and expect to get different results.”  Successful traders are successful because they are willing to do the things that unsuccessful traders are not willing to do.  Successful traders will keep a trade journal, follow a trading system, and use a set of rules when trading just to name a few things they do.
First of all we must decide why we are trading.  Then we must do what it takes to become successful.  If we are not willing to do the things that successful traders do then we should never put money into the market we should just continue to demo trade and keep our money in a safe place.
If we trade the news and always lose, stop trading the news. If we chase trades and lose then stop chasing trades, if we trade against the major trend and lose then stop trading against the trend.  If we trade without a stop loss and lose then start putting stops on our trades.  Success leaves clues so look for the clues.  We can be successful at trading if we are willing to change the way we trade when we lose.

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Here are a couple of ideas of how to shorten the learning curve in foreign currency trading.
OBSERVE the good trading habits of others.  You can get this information from some of     the following areas

    1. Personal observation
2. Seminars / webinars
3. Books / magazines
4. Reconstruct trades you hear about and see what the market was saying when the
trade was opened.

PRACTICE What you have learned from your observations

1. Simulated trading
2. Demo trading
3. Visualization trading
4. Live trading

LEARN figure out what you learned from you observations and practicing.  Internalize the things you like and have worked for you.

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