CAN YOU BEAT THE SYSTEM - fundamental forex trading books

CAN YOU BEAT THE SYSTEM ~ fundamental forex trading books

Can you beat the system ??

NO!, but you can still make great money. There is no humanly way that you can beat the system, but you can make a very comfortable and profitable living from forex. Forex has a language of its own and in order to have a glimpse of success, you have got to learn the language. The better you master and translate the language, the more successful you become.

What is this strange language????

It is the language of the charts. It doesnt matter whether you interpret candlesticks or bars ( I have a strong preference for candles), you must learn to properly interpret this secret chart language of price action. Your charts are the only indicator that is telling you the real right now truth.

The only disadvantage to the charts that you see is that you can not see what is going on behind the scenes; but many times if you are properly interpreting your charts, you will glean clues about the possible direction of the market.

Even with the knowledge of this secret mysterious chart language of price action, you can still get tricked. It happens.

Why ?????

Because the house always has and will keep the advantage. You can only hope that your interpretation of the language of the charts will be profitable for you most of the times. If you are properly interpreting this language most of the time, you will do very, very well as long as you dont allow your losses to run forever.

Even after some traders become fluent in this price action language, they allow their losses to run and cut their profits short. THIS IS BACKWARDS and WRONG. The profits are suppose to run and the losers are suppose to be cut short. As traders, we all know if we had cut that trade short when we saw the market turn against us, we would have come out with a small loss as opposed to the crippling monster we ended up with. Dont allow your losses to run free. It is up to you when you are comfortable cutting them, but dont allow them to take over.

LEARN YOUR CHART LANGUAGE!

Going to your local library and picking up Steve Nisons book is a great place to start.

YOU CAN DO THIS (^_^)

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TRADING EMOTIONS - forex trading pdf books free download

TRADING EMOTIONS ~ forex trading pdf books free download

The hardest thing to master as a trader once you understand Market Rhythm is not the market, it is YOU. Emotional trading will break you fast.

Trading is not hard, it is mastering your emotions that is. Trading will teach you more about your human short coming than visiting a psychiatrist. As a trader, you must learn the discipline of waiting for proper market set-ups. That is hard!

Your EMOTIONS are screaming for you to jump in or you will miss out. NOT TRUE!! If you miss one trade set-up, the market is generous and will give you another. Learn to trade in harmony with your trend and with proper signals.



The emotions that are deadly to your trading success.

REVENGE, we all know it and have done it. It happens when you are tricked by the market and decide to take another trade before looking at the big picture, then BAM you are on the wrong side of the trade again. Pissed off and refusing to move while your money is going further down the drain. Scared to let go for fear that you are going to get tricked again.

PANIC, that is when you lack the confidence to enter or ride a profitable trade. This happens when you have taken some hits and now you lack the confidence to trade profitably.

IMPATIENCE, this happens when you cant wait for a proper trade set-up and jump on a price hiccup/retracement, often finding yourself on the wrong side of the trade.

ANGER, you know that feeling that comes over you when you have taken a hit or two and you want to kill your computer.

SELF PITY, when you come to the market hoping for crumbs and get none, and cant see why THEY wont let you have just a little bit.

DEPRESSION, something perhaps outside of the market has you at an extreme low point.

INDIFFERENCE, it happens when you have gotten hit so many times that you just dont care any more because no matter what you cant win any way.

All of these emotions work hard against you clouding your clarity and give other traders the advantage over you.

If you are experiencing any of these emotions when you enter your platform; abandon your trading until you have yourself under control and have the clarity of mind to trade. Not doing so greatly increases your chances of handing your money over to a trader who is more emotionally fit and controlled than you are.

We are all human and it happens to us all, but what weighs heavy in your mind will often weigh heavily in your pocket.

Come to your trading platform, well rested, focused and ready to trade. You may take an occasional hit; SO WHAT it is a LESSON. We all get them and if we learn the lesson that the loss has taught us; it will make us much better traders.

DO NOT TRADE YOUR EMOTIONS!!!!!----

TRADE WHAT YOU SEE ON YOUR CHART!!!!


YOU CAN DO THIS (^_^)


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