Forex Strategy | ForexStrategySecrets.com http://www.forexstrategysecrets.com Fri, 09 Jan 2009 20:26:13 +0000 http://wordpress.org/?v=2.6.3 en Know When to Hold ‘em Know When to Fold ‘em (22 of 26) http://www.forexstrategysecrets.com/blog/know-when-to-hold-em-know-when-to-fold-em-22-of-26.htm http://www.forexstrategysecrets.com/blog/know-when-to-hold-em-know-when-to-fold-em-22-of-26.htm#comments Fri, 09 Jan 2009 13:36:50 +0000 admin http://www.forexstrategysecrets.com/?p=618 We hear all the time that a trade should be scaled out of by one half when you reach a profit target then set your stop loss to break even on the remaining portion of the trade and let it run to see if it will make more money.  By scaling out of a trade means to us that the trade was too large to start with when there was the greatest amount of risk.

We feel that you should start out small then add onto the trade when there are add on signals.  By letting one half of a trade run to see if it will make more profit says to us that the trader did not know or have any indicators that would let him know when to get out.

We suggest that you should start out small with a stop loss.  When the trade moves in your direction then add on or scale into the trade once the trend proves itself.  This way you have minimal exposure when things are at most risk. When you start to add on or scale in your stop loss on your first trade should be at a break-even or a small profit so you will not suffer a loss on that trade.  We like to start small add on big then get out all at once.  If the market gave us a head fake and keeps on going then we can reenter the market with our profits in the bag.  If we see signals to reenter the market we are most likely playing with house money.  This gives more confidence because we can have a little loss and still have a profitable day.

]]> http://www.forexstrategysecrets.com/blog/know-when-to-hold-em-know-when-to-fold-em-22-of-26.htm/feed CONFIDENCE AND CONTROL (21 of 26) http://www.forexstrategysecrets.com/blog/confidence-and-control-21-of-26.htm http://www.forexstrategysecrets.com/blog/confidence-and-control-21-of-26.htm#comments Thu, 08 Jan 2009 12:49:14 +0000 admin http://www.forexstrategysecrets.com/?p=611 Knowing you can do it BUILDS CONFIDENCE AND CONTROL.

How nice would it to be to turn on your computer in the morning knowing that if you play by the Rules, trade with discipline and stick to your methodology, the probability
of a successful day is high.  Knowing that you can grow your account even after a draw down will increase your confidence and make it less likely that you will have very many drawdowns.  When you do have a draw down it will be a small one.  When you become a mechanical trader your confidence will grow and the winning trades will flow.

Remember the Rule: If you make a little bit every day, then you have earned the right to trade bigger. Thus, by following your Rules of Discipline, your little profit each day can soon turn into much more profitable days.

]]> http://www.forexstrategysecrets.com/blog/confidence-and-control-21-of-26.htm/feed The Money Pile (19 of 26) http://www.forexstrategysecrets.com/blog/the-money-pile-19-of-26.htm http://www.forexstrategysecrets.com/blog/the-money-pile-19-of-26.htm#comments Tue, 06 Jan 2009 12:36:00 +0000 admin http://www.forexstrategysecrets.com/?p=605 Make a little bit everyday.  Make a pile of money.  Don’t and make a money pit.

When you can do this illustration in a demo account then start trading live.

Lets take a $1000 account for example:

Make $5 a day for 250 days a year = $1250      .005% per day
Make $10 a day for 250 days a year = $2500    .01% per day
Make $15 a day for 250 days a year = $3750    .015% per day
Make $20 a day for 250 days a year = $5000    .02% per day

Now get a part time job on weekends where you can net $40 per week.  52×40= $2080
Save the $2000 and put it in your trading account in a lump sum at the end of the year so now you start with:

$3250 $16.25 a day for 250 days a year = $4062.50 + $3250 = $7312
$4500 $45.00 a day for 250 days a year = $11250.00 + $4500 = $15750
$5750 $86.25 a day for 250 days a year = $21562.50 + 5750 =  $27312.50
$7000 $140.00 a day for 250 days a year = $35000 + $7000 = $42000

It is amazing how quickly your trading account will build up over time just by making a little bit every day.

If you can do the trading part of this illustration after 2 years you will be making more money than the example.  More important than the money you will have developed the trading skills and discipline to be on your way to becoming a great trader.  The discipline comes from following your rules, applying consistent effort toward a predetermined goal.

]]> http://www.forexstrategysecrets.com/blog/the-money-pile-19-of-26.htm/feed Use Time to Monitor the Loss of a Trade (17 of 26 and A New Years Deal) http://www.forexstrategysecrets.com/blog/use-time-to-monitor-the-loss-of-a-trade-17-of-26-and-a-new-years-deal.htm http://www.forexstrategysecrets.com/blog/use-time-to-monitor-the-loss-of-a-trade-17-of-26-and-a-new-years-deal.htm#comments Fri, 02 Jan 2009 12:30:06 +0000 admin http://www.forexstrategysecrets.com/?p=600 You can determine that you will get out of a trade before a news announcement or you will not carry a trade over a weekend.  These are good ideas if you are in a trade that is going against the trend.  Many times the market will move because of news, then just return to the direction of the overall trend.

This is the last day to take advantage of our New Year’s Deal before it expires. Its a great time to test out our course. Use this Coupon and get 50% off Launch Pad!

New Year Coupon Code: 78E57

]]> http://www.forexstrategysecrets.com/blog/use-time-to-monitor-the-loss-of-a-trade-17-of-26-and-a-new-years-deal.htm/feed Amazing Coupon Code to Bring in the New Year!! http://www.forexstrategysecrets.com/blog/amazing-coupon-code-to-bring-in-the-new-year.htm http://www.forexstrategysecrets.com/blog/amazing-coupon-code-to-bring-in-the-new-year.htm#comments Thu, 01 Jan 2009 07:00:46 +0000 admin http://www.forexstrategysecrets.com/?p=579 Its the start of a new year, the beginning of new possiblities and resolutions. We wanted to be one of the first to say ‘Welcome to the New Year!’ and we wanted to do it with a bang! Below is a coupon code to buy Launch Pad at 50% off!!! We hope this will help your new Forex and Money Making resolutions come true this New Year.

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Redeem it here: Launch Pad Forex Trading Course

You only have January 1st and 2nd to use this code and redeem this New Year deal.

Remember as always our products come with a 30 day guarentee, if you don’t like the course then just fill out a simple survey to let us know why and we will refund your money completly. Now is the perfect time to see what the rage around forex is all about.

]]> http://www.forexstrategysecrets.com/blog/amazing-coupon-code-to-bring-in-the-new-year.htm/feed Become Good at Losing http://www.forexstrategysecrets.com/blog/become-good-at-losing.htm http://www.forexstrategysecrets.com/blog/become-good-at-losing.htm#comments Wed, 31 Dec 2008 12:20:15 +0000 admin http://www.forexstrategysecrets.com/?p=595 We get a lot of questions and comments about what this means.  You should know by now that you will lose sometimes when trading.  That does not mean you will lose all of your account unless you use poor money management techniques or none at all.  It means don’t get all emotional about a loss they are going to happen and the sooner you can get over it and move on the faster you will become a good trader.

Accept the fact that you are going to have losing trades throughout the day or week. Get out of your losers quickly. Love to get out of your losers quickly. It will save you
a lot of trading capital and will make you a much better trader.

(WATCH FOR OUR NEW YEAR DEAL TOMORROW!)

]]> http://www.forexstrategysecrets.com/blog/become-good-at-losing.htm/feed Speculators Always Lose (15 of 26) http://www.forexstrategysecrets.com/blog/speculators-always-lose-15-of-26.htm http://www.forexstrategysecrets.com/blog/speculators-always-lose-15-of-26.htm#comments Tue, 30 Dec 2008 12:15:50 +0000 admin http://www.forexstrategysecrets.com/?p=592 I have never met a successful speculator. It is impossible to speculate and consistently have large wins. Don’t be a speculator. Be a trader.

Trading in the direction of the trend on a 1 hr or 4 hr chart is always a good way to trade.  Use good money management techniques with proper stop loss settings and you will be way ahead of the speculators.  Most traders that do scalping are not profitable.  There are some that can do it but they learned at great expense.

(WATCH FOR OUR UPCOMING NEW YEARS DAY DEAL!)

]]> http://www.forexstrategysecrets.com/blog/speculators-always-lose-15-of-26.htm/feed Don’t Worry About the News (14 of 26) http://www.forexstrategysecrets.com/blog/don%e2%80%99t-worry-about-the-news-14-of-26.htm http://www.forexstrategysecrets.com/blog/don%e2%80%99t-worry-about-the-news-14-of-26.htm#comments Mon, 29 Dec 2008 12:08:32 +0000 admin http://www.forexstrategysecrets.com/?p=590 Don’t worry about the news by the time you read it, it is history.

Early in my trading career I was told to not listen to and TV or radio financial news.  Stop reading Magazines, and newspapers about the financial markets.  Learn to trade with what the market is give.  Trade with what the market is doing right now.  I have never understood why so many electronic traders listen to or watch CNBC, MSNBC, Bloomberg News or FNN all day long.  The people reporting the financial news on these programs know very little about market dynamics and market price action.  Yet they claim to be experts on everything.  Treat the news and the reporting of the news for what it really is.. Entertainment.

When you hear the news it is already old news.  The story has already been dissected and consumed by the professional market participants long before the news has been disseminated. Do not trade off of the reporting. It’s too late.

]]> http://www.forexstrategysecrets.com/blog/don%e2%80%99t-worry-about-the-news-14-of-26.htm/feed Don’t Turn Your Trades into Religious Trades (13 of 26) http://www.forexstrategysecrets.com/blog/don%e2%80%99t-turn-your-trades-into-religious-trades-13-of-26.htm http://www.forexstrategysecrets.com/blog/don%e2%80%99t-turn-your-trades-into-religious-trades-13-of-26.htm#comments Fri, 26 Dec 2008 13:01:26 +0000 admin http://www.forexstrategysecrets.com/?p=588 If you think about it if you are praying for a trade to go one way there are others praying for it to go the other way. So the divine intervention you are seeking never seems to materialize.  If you are using the praying method of trading you are not being disciplined and following a trading system with rules.  The key here is when you start to hope and pray just get out of the trade!

We hope your holidays have been great!!

]]> http://www.forexstrategysecrets.com/blog/don%e2%80%99t-turn-your-trades-into-religious-trades-13-of-26.htm/feed The First Loss (12 of 26) http://www.forexstrategysecrets.com/blog/the-first-loss-12-of-26.htm http://www.forexstrategysecrets.com/blog/the-first-loss-12-of-26.htm#comments Wed, 24 Dec 2008 12:33:08 +0000 admin http://www.forexstrategysecrets.com/?p=582 The first loss is usually the smallest and least painful.

When you know that the trade is no good it is best to get out ASAP, do not hesitate or delay or try to think It through just close the trade.  It has been said that it is never a loser until you get out.  It will come back.  Once these phrases are stated, it is an affirmation that the trader realizes that the trade is no good, it is not coming back and it is time to exit.

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