MONEY IN YOUR POCKET IS BETTER


Money in your pocket is better than money in Your mind.  Many times we will not protect our capital because of the big money dreams in our minds, while losing real money out of our pockets to a trade that is moving further against us.  The market can be frustrating and tricky and most market set-ups are fake-outs, therefore it is vital to protect the capital You have for the  few times the market will give You legitimate profitable set-ups.  The challenge with the set-ups is that so many of them look legitimate, that is why they are fake outs.  If You spend 24 hours trading from a shorter term time frame, most of your entries will be bust, so it is imperative that You choose Your trade set-ups and times carefully.

There are times that are more likely to give You a trading advantage, like economic reports, the times in the market that your currency pair is most active; times of breakouts after consolidations, breakouts after consolidation in harmony with Your trend, reversal candles at resistance/support, etc.  Even with the best preparation, it is possible to enter a bad trade set-up; that is why You must be prepared to cut a bad trade when Your rules are violated and wait for another set-up.

  There are times that the market will act up so badly that most people will abandon a perfectly profitable system.  Since trading isn't hard, it must be tricky in order for You to lose money.  More people lose money in the market because of emotions gone awry than they do bad trading systems.  It is hard to sit and wait for a trade and get stopped out or be stopped out at breakeven, or to wait for a market that is choppy.  The market is going to move and find a direction, but what You don't know is when???????

Trading is not for the faint-hearted nor for the perfectionist.  If You are going to succeed as a trader, You must be tenacious and You must know that there is no perfect system.  There are just too many external factors involving too many human beings to make a perfect system.  The system is perfectly random, and looking for perfection or stability will tire You out fast.   Wearing Your emotions thin is the best strategy the forex market has and it works.  Remember the market can be crazy longer than You can stay solvent, so be sure to protect the money in Your pocket first even when You get tired and frustrated.  I hate the market games, but they are there and they are there to break You, but You have to decide how it is that You want to live and be willing to have the discipline it takes to enjoy that lifestyle. 

If You play, only play to win.  ALL OF YOUR MONEY IS VALUABLE, THEREFORE YOU CANNOT AFFORD TO LOSE IT.  THE ONLY WAY TO THRIVE IN THE GOOD TIMES IS TO PROTECT YOUR WEALTH DURING THE SCARCE TIMES. PROTECT YOUR WEALTH FIRST, WHEN THE MARKET IS CRAZY ZIP YOUR POCKET AND SIT IT OUT.  SOMETIMES THERE IS NO TRADE!

#1 PROTECT YOUR WEALTH (You can only build on what You have preserved)
#2 BUILD WEALTH (The market will eventually find direction and when it does, be there to ride the train all the way into the station)

YOU CAN DO THIS (^_^) !

10 comments:

  1. Nice article, thanks for the information.

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    1. Thank You for Your great kindness (^_^)!

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    2. Thanks for sharing feedback, it is always good to hear (^_^)!

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  2. I had enjoined your videos on you tube, I had learned things from you. So here is my take on the 1m time frame for you. I belive that finding the Rigth MA for your chart is critical. Remember all charts show the same price moments on them from the 1 to the week one so on, but if you place a 200 MA on the 1m and and another on the 200MA 15m. They are not going to be the same. The key is to find the MA that match the long turn time frame on your 1m chart. That way is going to be hard to be fool. All trends start and end at the 1m time frame. Remember by the time you see the information on your chart is already happen, but if you see the whole picture in one time frame your will not get fool. Play with your MA and you will be amazed of what you see. I do all this at the 1m. Happy trading . Anyone could do this. Thank you for all your work and sharing it with the wall.

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  3. I am agree with you that we are insecure about our money and for this some time we can take a wrong decision about it. I read the above information and i think it's a best way for invest the money.

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    1. I wish every trader knew that the trades in harmony with the trend will yield more money to them. Thanks (^_^)

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  4. Good blog. I'm looking forward to getting your updates.

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    Replies
    1. Thanks for taking time to give positive feedback (^_^)!

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  5. nice post. I agree with the article. Really appreciated. good strategy should be apply while trading in market.

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