95% of traders lose most of their hard earned profits in one or two lousy trades.
You have to be consistent in your approach if you want consistent profits.
There is just no other way. Let’s look at a typical scenario of a typical trader (could be you):
The trader makes a couple of bad trades, and what he does is try to get revenge on the market. He thinks that the next trade HAS GOT to be a winner, so he doubles his “bet”, just to see his losses double… The NEXT trade has got to be the winner, the market can’t be bad all the time, can it? He doubles his last trade..Now he is 4 times into losses and guess what… That´s right. Another loser. The market is after him.
The next trade is signaled, and guess what? The emotionally beaten and depressed trader thinks that this trade will also be a loser, so he doesn’t take the trade and curls into a fetal after watching his passed-up trade go into profit? Been there.
The sad part is that this trader THOUGHT to himself “If I take it, it will be a loser. If I don´t take it, it will be a winner.” These are the sure words of a losing trader BEFORE he starts trading….He is already defeated.
You have to be consistent in your approach if you want consistent profits.
95% of traders do not follow their plan and strategy.
You have to be consistent trading the same strategy over and over and over if you want consistent profits.
Most traders don’t have a plan…a written plan. It has been proven that a written plan has an 80% more probability of being followed than just having a mental plan.
There is only a small minority of traders that have a written plan and actually read it on a daily basis, and out of those who do, there is an even smaller amount of traders who do follow their plan.
On the other hand, most traders with or without a plan, do have an entry and exit strategy but when trading their real account, all hell breaks loose:
- They enter late because they thought twice about their trade.
- They enter late because they were not focused so they were doing something else.
- They enter late because they were analyzing the market at the time the signal came in.
- They exit late because they enter late, so they have to compensate for the few pips they left on the table.
- They exit late because the trade did not go as planned. (Of course they think it’s the strategy´s fault because they don´t know their statistical edge)
- They exit late because they were not focused and were doing something else or were somewhere else.
- They exit late because they want more. (We always want more, don´t we?)
Of course by now, you know that exiting late refers to closing your position late, with a bigger loss than planned.
Plan your trade and trade your plan.
When the signal is there, TAKE IT! There is no thinking at that point. The thinking has been done with the plan.
90% of successful trading is patiently waiting for the signal
You don´t get in early
You don´t get in late
You don´t get out early
You don´t get out late
You get in and out as planned.
Is that too hard?
You have to be consistent on trading the same strategy over and over and over if you want consistent profits.
95% of traders, trade at the wrong time.
You must be consistent in your trading hours to make money…
This includes trading at the right time of the day as well as trading at the emotionally right time.
TRADING AT EMOTIONALLY WRONG TIME means trading when you are:
- Stressed
- Sad, angry or upset
- Weak or sick
- Distracted
TRADING AT THE WRONG TIME OF DAY INCLUDES:
- Trading when you just “feel like trading”. (no plan)
- Trading when you have time IF you have time.
- Trading without knowledge of the pairs' Average Daily Range (ADR)(For example: do you expect a breakout not knowing that the ADR is completed)
- Trading when the market is virtually dead and price is not moving. (Time of day and lack of session knowledge)
- Trading when news is about to come out without knowing that is was going to come out.
- Many more…
You must be consistent in your trading hours to make money…
95% of traders lose money because they don't have an edge in their strategy.
Most traders don’t even know what their edge is. Casinos have a statistical edge and that´s why they win… do you?
Have you bought a course, strategy or system just because the well known trader says it is a great strategy?
Have you back tested it?
Do you know what to expect when executing the strategy?
Do you know how many consecutive losing trades your system has made in the past so you don´t stop trading JUST BEFORE the winning trade comes?
Does your subconscious KNOW for sure your strategy is a winning strategy? Or is your fear that you in fact have an “edgless strategy” and that is why you think twice about every trade your strategy signals?
Do you know you have a winning system OR do you think you have a winning system?
Do you have an edge? Do you know what it is?
95% of Traders don’t think in terms of statistical samples.
Do you know what your strategy’s average percentage of winning and losing trades is during your last 100 trades?
Most traders don't think in terms of statistical samples. They get one, two or three bad trades and think their system sucks.
ONE trade means NOTHING.
TWO trades mean NOTHING.
THREE trades mean NOTHING.
How many trades can go BAD before a GOOD one comes?
Have you back tested your strategy and do you truly know the statistical data on it?
- Average winner
- Average loser
- Maximum consecutive winners
- Maximum consecutive losers
- Maximum drawdown
- Percentage of winners
- Percentage of losers
Now all that is left is to multiply your average winner by your percentage of winners and your average loser by the percentage of losers.
Is it a winning strategy ON THE LONG RUN?
Think in terms of statistical samples!
OK Stop It. I Get It! So Why Are You Rubbing This In My Face?
Easy!
Because everyone talks about how great their system is and how much money you can make with it.
But the simple truth is that it doesn’t matter which system you use. You could have bought the latest US$ 10,000.00 strategy and still lose money because you are making the same mistakes over and over and that is why you are on average a losing trader. So I'm here to talk about how to stop losing. THEN, and only THEN after you stop losing you can go on to start winning...Makes sense?
Being different than these traders will put you in the top 5%
Not making these mistakes will put you in the 5% club.
NO ONE talks about why you are NOT MAKING MONEY. Everyone talks about how to make money.
hvsearch 
l Euro i Training i Forex y Www i Tag Forex p Euro nsearchssearch Free n
searchF Training r Tag x Www m Euro research searcha Free Forex n F Forex ee l
Forex Training re Tag Training a Training Free s Euro a
ch Training cd Eu Training o Euro d Forex ag Www searchr Forex i Forex ing Euro 
ae Tag a Free lsearchosearche Tag tsearchtsearche Training L Www tsearchnsearchA Euro e Free i Euro a Forex 
asearchk
t searchnsearch fu
d Euro tsearchatsearchpeol Euro searchnd
cmpsearchnesearch 
r Training vi Www i Forex gsearchmsearch s Forex r Forex iessearchw Euro r Www f Free w,
s Www Free esearchie
Free o
dvsearch isearchht Www nsearch