Where Top Begin in Forex? Trading

Let’s begin with the markets themselves, and with fear and greed. 

We have all heard the cliches about fear and greed. 

They rule the markets. 

How many times we hear that trading Forex is risky?

So many people has burn their account in their quest to achieve their financial goals?

I know because I have blown my account too.

Not once but 3 times....

OVERCOMING FEAR AND GREED

We all have to deal with our runaway emotions at various times in life, and these

emotions really begin to run away when we trade.

Bill Williams used to say in his seminars that trading was the clearest window into your own personal psychology, clearer than any other endeavor. I think he was right.

UNDERSTANDING THE MARKETS

We give in to our fear when we don’t take the next trade because we’ve just been

through a string of losers and fear losing again. 

We give in to our fear when we put our stop loss too close and get stopped out of a trade without giving the trade enough room to develop. 

We give in to our fear when we freeze as a trade starts to lose money, and we don’t take the exit signal because we’re afraid of losing money.

We give in to our greed when we take a profit early, before the regular signal,

because we don’t want to give back any of the profits. 

We give in to our greed when we trade more contracts or shares than we normally would because we feel good about this trade.

STRATEGY TRADING: MAKING GOOD BUSINESS SENSE

For me, strategy trading is the only answer to the problem of fear and greed, and it

is the only logical way to take advantage of the concept of Market Facilitation.

First, trading a strategy provides the discipline necessary to begin overcoming fear

and greed. 

Trading a strategy that has been back tested on historical, quantifiable data is a major way to inject discipline into your trading and to begin to control your fear and greed. 

If we think of a trading strategy as a small business, we can design our business to make money based on historical simulations.

THE ADVANTAGE OF TECHNOLOGY

Anyone serious about finding a profitable strategy should use the latest technology

and the best software available. 

This means learning how to use a computer.

You have to test a set of indicators to see if they are profitable.

You need to test them through the chart history and then apply it on your live trading.

If these indicators didn’t prove to be profitable, the process had to be repeated for the next month with revised indicators. 

This process continued month after month. 

It would sometimes take me three to six months to find a strategy that would work under current market conditions.

Yours sincerely,




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