Thursday, December 11, 2014

you are winning and they are still messing with your head

Trading is a psychological warfare that even when you are winning, they are still messing with your head (manipulating your mind). There are times like doji days when the market is so frustrating that you feel like your head is going to explode. When you crawl away, your emotions are so frayed and you are so battle scarred that you don't know what to do with all of that bottled up frustration and anger.

No matter how much you try to find the edge, it keeps alluding you. You keep digging a deeper and deeper hole, losing more money, and the pressure builds until your mind is tied in a knot so tightly that you lash out whether verbally or physically. After this kind of a day of brain-bashing, confidence-shaking, emotional upheaval cause by a choppy market; you are in a kind of market shell shock or psychological trauma.

I don't know all of the answers, but I have a few suggestions when you feel out-of-control. First push your chair away from your screen and distract yourself with something more relaxing, stress relieving and fun. Sometimes, you will have to take a day or two off just regaining your focus and rebuilding your confidence.

After you have created the distraction by dancing, working-out, meditating, visiting a friend, going to the movies, etc., come back to good solid forex education like this and reinforce what you know to be true. Go study those tricky charts, watch videos, talk to other traders,-------DO WHATEVER IT TAKES TO HELP YOU REGAIN YOUR EDGE!

After they have given you a good spin in the blender, the market will usually trend againHARD, but so many traders are still in such a state of shock, panic and anger from the day/week of spinning that they miss the really good trend.

The most important thing you can do during and after these times is to trade a good plan with consistent discipline even on losing days. Bad trading days tempt you to abandon good, solid trading habits, but DON'T DO IT ! If you abandon a good plan, when the market comes back - you won't trade it out of fear that the market is going to turn on you again.

The psychological effects of trading can be much more devastating than any amount of money that you lose, it is a sort of mental scarring that can take place after a really hard trading bout, therefore you must trade a good plan consistently. Cut bad trades quickly and ALLOW YOUR WINNERS TO RUN!!! It maybe hard, but doing these things will give you the edge and KEEP YOU IN CONTROL during the hard times.

NEVER HOLD ON TO A BAD TRADE NO MATTER WHAT........CHOPPY MARKETS ARE SET-UP MARKETS!

YOU CAN DO THIS (^_^)!

DON'T EVER HOLD BAD TRADES, THEY ARE A RIP OFF

When you enter a bad trade, the longer you stay trapped (hold on to the bad trade), the more of the bank's money you buy or sell at ridiculous prices.

Example...If they trick you into a sell position in a bullish market, the longer you hold that bad sell the more of their money you buy at more expensive prices, losing more of your money in the process....

Or if you are tricked into a buy in a bearish market, the longer you hold that bad buy the more of your money you sell at cheaper prices, and your money becomes less in the process.

You never stop that buying or selling until you close out, stop out or are margin called In a bad trade you are getting deflated or inflated money, either way it is a BAD EXCHANGE and YOU LOSE!!!!!

DON'T EVER HOLD BAD TRADES, THEY ARE A RIP OFF !

TRADE A GOOD PLAN WITH STOPS!

YOU CAN DO THIS (^_^)!

Forex trading 08/29/07

Lol, nothing is new, just old pinpointing climax.
I scaled in with 1/3 of a position at the time and it was wise to do so.
This time I honestly wanted to stay longer but gbp/usd at that time didn't show enough weakness to promise full reversal.
+12 pips

EURAUD Trade setup - 30th September, 2014

Outlook Trade opportunity

Wait for close below 1.44200 for short targetting 1.43400-600

Risk Level LOW

Tips -

Always take note of any economical news event on our provided calender below

Bank Friend

We are always talking about banks and their calculated careful manipulation of the market, but is the bank really da looming boogie man??????

Yes, it is very true that the banks manipulate the markets making billions off of traders in the process, but it is equally true that the opportunity to make huge windfalls in the market would not exist without the liquidity that the banks provide.

The banks have turned the forex market into a fairytale of unlimited wealth and opportunity. You can live a lifestyle trading that most people only dare to dream about, but don't for a second be under the illusion that they are going to allow you to just waltz in and load up on as much cash as your heart desires. While there is 4 trillion dollars a day in the forex market give or take, the banks like any other business entity is looking to capitalize on as much of that money as possible. It just so happens they have more power than most of us to make things happen that put the odds heavily on their side.

Yes, it is their intention everyday to take your money, but it is up to you if they get it or how much of it they end up with. In other words the banks are either feeding you or feeding off of you.

You can never beat them in the market, it is their game and they have the power to make the rules. The good news is that you can trail them and earn a very very nice living nipping at their heels.

The bank is your friend if you trade with the strength of that power, but it is a breaking force when you trade against that power. Trade with the force that has the power to move the market, or trade against that power and be crushed, it is your choice. Remember NO ONE EVER FORCES YOU TO HOLD A BAD TRADE, BUT THE BANKS LOVE IT WHEN YOU DO!!

Whether the bank is Friend or foe is totally left to your interpretation. Do they feed you or feed off of you?????

YOU CAN DO THIS (^_^)

forex traders Professional

In forex traders get into trouble because they have the wrong mentality. They trade the "cling and hold method" and it gets them killed in the market. Trading is a "Catch and Release" game. Only hold a trade as long as it benefits you, if you catch the wrong trade, kill it like a rattle snake and start over.

Most traders hold to bad trades for dear life in spite of the danger

This is the wrong way to trade, if it can kill your account, let it go and look for a better trade. (Write this somewhere that you can see it while you are trading (KILL IT BEFORE IT KILLS YOU). Only take the trades that you truly want. That means only investing your hard-earned capital in a trade that is going to reward your patience and hard work. If it is a trick trade, simple cut it and follow market strength. The sooner you cut it, the quicker you can recover and be on your way to profit.

This is what most traders don't understand about the market, you only keep what you want and discard what you don't. Trading is a catch release game............................. It is like going fishing for a Big Mouth Bass and finding a Water Moccasin on the other end of your fishing line; the smart fisherman would release that killer immediately. Trading is the same way, if you catch a Big Mouth Bass, Salmon, Tuna, or Catfish, keep it. It will feed you, but if you catch a shark, snake or sting ray, throw it back; it can kill you, and the longer you keep it, the more deadly it becomes.

Anyone can get in on the right side of the trade, but only pros understand the great advantage in cutting the line (a bad trade quickly) if there is poison on the other end. Most traders let the snake bit into them and hold on hoping that the poison will not kill them. That is just dumb, I know because I have done it a million and one times and that thinking killed me over and over again in the market.

Cutting a bad trade quickly keeps you in control and puts the power and responsibility for your trading into your own hands, instead of leaving you hopelessly at the hands of a merciless market. The market will either feed you or feed off of you.

Letting go of bad trades gives you the power to follow market strength into profit and build wealth. Don't worry about taking small hits in the market, it is ok, there have been days that I have taken several hits and started the day off pretty deep in the red, but by the days end I was far ahead. There are days that I have ended slightly behind, but I felt good about those days because I was trading(catching and releasing), releasing the poison. Every trade will not be profitable and not every trade will be a home run, but there are the big reward times that the market will open her store house of the sweetest treasures; that is what you are saving, building and preserving your capitol for - those sweet days.

The biggest accomplishment in my trading is letting go of bad trades quickly. It took me forever to fully comprehend the wealth building power at my disposal just from that one little secret alone. Cling to the good, but discard the bad quickly. Slow movement on your part could be deadly to your account.

Don't be afraid to let go, the wealth is therewhen you have the power to follow it, and it will reward your consistent discipline with a better lifestyle......

YOU CAN DO THIS (^_^)

Real trading is about how well you handle the Rattle Snake, everything else is gambling.........

GBPUSD Medium Term Forecast - 10th October, 2014

Targets @ 1.58 - 1.57 approx...?

Weekly Chart

Will be interested to see how the week ends and where the candle will close (below or above the trendline / triangle we had on the weekly)