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 (^_^) !

WHEN THE MARKET IS CRAPPY PRESERVE YOUR CAPITAL !

 

There are times that no matter how good Your strategy or how hard You try, the market just will not cooperate with Your plans to get paper.  What You do in those times is more important to Your success than what You do in a good flowing market!

Why????????????????

Because what You do on those day can mean the difference between thriving in forex or having to fold Your hand and walk away from the table.  On days when the market is stubborn and uncooperative no matter how patient You are or how much discipline You exercise, YOU MUST PRESERVE YOUR CAPITAL.

Believe me, I know how hard and frustrating a market like that can be.  To stay through an entire session or sometimes a day and the market is just indecisive feels like a waste, and it can be easy to become discouraged.  These are the times Your discipline is the most important even though Your emotions may be a bit frayed.  Stay the course of discipline, these are the times we are also most likely to abandon a really good strategy.  DON'T DO IT!

THERE ARE TIMES WHEN THE MARKET IS JUST CRAPPY! 

Be careful during these times not to beat Yourself up or doubt Your ability, There is nothing wrong with You or Your strategy, it is the market, and the truth is no matter how crazy the market gets, it has control over Your paper, so IT IS RIGHT!  so PROTECT YOUR WEALTH.  Even if You come out of the day slightly down beat up, battered and bruised, it's ok, as long as You preserved as much of Your wealth as You could.  On days like this, it is most important not to let the market take You out of the game!

Sometimes the market is a kitten, but there are times she is a lion; sometimes you just gotta get out alive.  If you survive, the day will come again for you to thrive.  It is just part of the market cycle and it happens.  Don't take it too hard, because the time will come again when the market is lovely and will want to caress and cuddle You, then she will yield plenty of paper for You.  It is the days that the market is sweet and cooperative that we as traders Preserve Capital for.

#1.  First job of every trader: PRESERVE WEALTH!

#2,  Second job of every trader: BUILD WEALTH!

 YOU CAN DO THIS (^_^)!

WHO'S TRICKING YOU????

We say that the market is tricky, but who is really tricking us??????  Many times the market will set a trap for us, but we will refuse to free ourselves because we began the dialog in our heads that really trick us.  We tell ourselves that we are 'not going to fall for that one again', 'it will come back', it will follow a bigger trend', etc.  Then we begin to look for evidence in the charts or in our indicators to support our belief.  While these things soothe our minds and provide us comfort, we only trick ourselves into staying in the trap that is costing us money as price moves again us.  

Harness the market power and make it work for You, if You are stopped out the market is helping to preserve Your capital.  Look at a stop-out as a lesson that cost You  $X.OO of dollars to learn.  When You take a hit, use that money wisely, it was a lesson that You paid for.  Go back and study ways to try to avoid paying for that lesson again.  As You have probably seen on my videos, I get my share of stop-outs, but I dust off and go at it again, because there will be another opportunity to make profit in the market.  

The market isn't hard, it is just tricky at times, but if You see that preserving capital is the most important job that You have, You will come out ahead as You continue to trade a good plan.  If You trade, You are going to have to pay for a lesson every now and then, it's no big deal, it is just the cost of doing business, shake it off and look for another opportunity.   

Yes, the market can sometimes be very confusing and often tricky, but just because You got tricked, doesn't mean You have to stay tricked. Don't let over analysis about what the market might do keep You from entering a good trade set-up, because the market is cocky and will do whatever it wants to do.  Just except that the best trade set-ups can fail, because the market can be bipolar and irrational, sometimes it has mood swings and throws tantrums.  Then there are times that the market will purr like a kitten for You.  

There are times that the market makes me so very angry, but there is nothing I can do about it except accept the fact that the market can be like that and bend with it in order to make paper$$$$.  Don't ever let the market take Your mind off of Your mission to make money.  There are times when You might need a break if You are getting to angry.  Take the break, then come back and try again.  Be sure to listen more to Your chart than to Your mind's chatter, remember that as brilliant as Your mind is, it can only give You info on past chart data and experiences, while the market is always fresh right now.  

Always listen to the market and allow it to lead You to financial freedom.............You are Worthy of the Wealth that the forex market provides.

YOU CAN DO THIS (^_^)!

Re-Group Try again

Sometimes success in forex just comes through persistence. Many times the success isn't to the swift or the smartest, because I think most people who trade forex are extremely smart, but to the persistent.  Forex like any other discipline has a learning curve and for some of us it was a little steeper than for some others......lol, but like any other great profession it is a skill that can be learned.  Success in forex is about the ability to wait and the courage to act even after some disappointing attempts. Many times it is solely the courage to try and try again that is the difference between success and failure for a forex trader.  Trading a good strategy isn't enough, it is trading a good strategy with consistent discipline that creates the separation between traders.  Some days it is about looking rejection in the face and being determined that it won't beat You.  These are the times that You have to be able to dust off and try again when the market has refused Your entry ticket.  Don't be reckless, but be willing to re-execute a good plan if it fail.  That's where many traders miss it, they have an amazing plan, but after a few rejections from the market, they give up.  Trading isn't about never losing, trading is about have the guts and fortitude to WIN!

YOU CAN DO THIS (^_^)!

THE MENTAL LEAP OF SUCCESSFUL TRADING

One of my insightful younger forex Friends sent this to me in part of an email and I ask him for permission to share it--

"I hate losing..." It's human nature to avoid pain...when it's cold outside your first instinct is to put on a jacket to protect yourself from it's effects...The thing with trading is, many times you temporarily reverse this pain avoidance instinct when you are on the wrong side of the trade, so that you can make the best decision.  Natural impulse is to avoid the negative feelings you get from closing out a loser...but it keeps you in control.Basically the forex trading decisions we make reveal a lot about us.  

Successful trading requires our ability to temporarily overcome our natural impulse to avoid pain out of the trust in the greater pleasure that will come down the road from capital preservation and ultimately success.

It takes being very forward thinking to make this mental leap, but it's well worth it. The real key is trusting it and doing it consistently.

Enough said, I thought it was brilliantly put..........this is the attitude that makes superstar traders (^_^).

Thanks L56,

YOU CAN DO THIS (^_^)! 

FOREX THE ULTIMATE DREAM JOB

Every day billions of human beings leave the comfort of their warm secure homes to make their way to that dreaded (just over broke) job, that they loathe.  They work like labor animals with just enough money to almost make ends meet.  Most are in debt making payments on the necessities of life, like a car for example, to allow them to better accommodate the (just over broke) job.  The off day they get is just enough to take care of their errands before they begin the much dreaded and hated cycle again. The (just over broke) job takes precedence over everything including family and church, it is the one call we must answer to survive leaving everything else second to it.

Wouldn't it be wonderful if there was a way to make an incredible living doing what You loved everyday?  A passion that allowed an unlimited source of  income and ample time for the people You love the most.  A place that You could get Your fill of sleep everyday, take off whenever You'd like, play golf after a few hours of work and allowed You to decide when You'd get a raise in pay.

If You trade forex, You have such an opportunity.  It will allow for a very very lavish lifestyle, with You investing as much or as little of Your time as You desire to achieve the level of desired comfort in Your life.  It allows You to take off whenever You want, to sleep in as much and as long as You want.  It  rewards You for showing up, watching for the right opportunity and taking advantage of it.  Wow, aren't we most fortunate!

Forex will reward You with everything material thing that You want and seek in this life and even more than You can imagine.  It is an almost limitless storehouse of wealth.  With more than 4 trillion dollars a day, it can provide You with more wealth than your family can spend in 12 lifetimes.  The secret to tapping into this supply is DISCIPLINE.

Yes, forex is work, so make it reward You for showing up.  Take advantage of every money making opportunity it gives while You are in attendance.  The wealthiest traders in the world have the same opportunity that You have everyday.  They just cease it and make the market work for them.  You too can join the wealth party.  It is open to Y-O-U!  The price for entry into this party is trading a good plan with superior discipline!

YOU CAN DO THIS (^_^)!

I LOVE IT WHEN GOD DOES STUFF LIKE THIS

I love it when GOD does stuff like this. In my meditation the other day I opened my eyes and saw this picture of a dollar sign in two roses that I'd hung up to dry. I had to laugh out loud because I love it when GOD does this kind of stuff. I love knowing that GOD is paying attention to my life and let's me know it (^_^). That for me was a reminder that GOD is the GOD of abundance and has everything under control.

There are no limitations except for the ones that we place on ourselves. When we look at nature, everything testifies to GOD's generosity and love of abundance. GOD is the unlimited source and knows no lack! Open Yourself up to receiving more good from the GOD who so dearly loves You and wants to see You prosper. You have to do what our LORD CHRIST has instructed (If thou canst believe, all things are possible to him that believeth), You have to believe!

Quit preparing Your mind to struggle, there is only pain in poverty. Start training Your mind to believe in good for Your life and enjoy this wonderful journey more!

I loved this and just wanted to share it with You and remind You that the Great GOD is paying attention and wants You to prosper in good (^_^)

YOU CAN DO THIS (^_^)!