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Tuesday, December 11, 2007

Free Forex Training Video - Protecting Profits in the GBP/AUD Part 4

Free Forex Training Video - Protecting Profits in the GBP/AUD Part 4

Hey Everyone,

Some interesting things happened on this trade. Well I say interesting when really this is kind of normal for the forex market.

I'm so accustomed to the forex market that when you guys come to me for help that I typically respond with what are you talking about, it always happens likes this. This has been actually been an interest of mine over this past month. I have a retirement account that I am still managing and it has just been funny lately, when really it is the same old thing. I've just been growing accustomed to the forex markets. Friends, I always tell people that they need to trade at a minimum of 3 months in a forex demo account before live trading.

Please hear me on this one!!! Look at the gains that I am getting on these is realistic to double your account every couple of months. REALLY LISTEN TO ME NOW!!! If you could double (that is 100% rate of return on your entire account balance) in 6 months (and we can do it every 3 or 4). Is it worth it to take a little break and "LEARN" the markets, get a feel for the markets, get all messed up like me because you are accustomed to the forex market. This is what you want...I cannot stress enough how lucrative this market is. Now outside of brokers, we have to be better than them. Only 5% of the traders out there can have the success that we are seeing here. Stand by be and you will be in that 5%.

So how to we double our accounts? lets say I risk 3% of my account balance on every trade. I have $10,000, so I riske 3%...that is risking $300. Got it? if not contact me, I want you to make please ask me, I WILL answer any question you have. So we trade with $300. Lets say that I can average 100 pips per trade (I believe I am averaging about 135), So that means that I am make $300 on my 1st trade. I then have $10300 and I riske 3% = $309 (so we stick with our .3 lots or $300 risk) (1 lot trades in the forex market = $1,000 of currency, this would be trading with .3 lots = $300) So now we make $318 with our 100 pips profit. So now our account balance is $10,627. What is 3% of $10600? It is $318. So we are sticking with our $300 risk or .3 lots.

BORING...right!!!! So If I'm making a little over $300 per trade on average (forget the compounding interest), how long does it take to double my account balance. 34 trades is how long. Well I get this many pips every other day or 2 or 3 days. So that is why I say you can double your account balance every 3 or 4 months. I make BIG PIPS, period! That how I trade, my mediocre trades are 100 pips, I get 200 - 700 pips all of the time! I have even had a few 900 - 1000 pip trades. Trading in this manner is also the easiest on you, it's the funnest. I mean how many people can turn $100 to $1000 in one to 4 months time?

HONESTLY....its REALLY boring though! This is not fast money....Could you? Well yes, I'm tempted all the time....( make 100 pips profit all the time, why not risk 50, 70, 80% and make some big bucks).....well, it never works out that way. WHY? Emotions! Its a lot easier to see a -100 pip move on $300 (it's only $300 and I made that yesterday), and so I am confident in the indicators and the trends and everything else (yes, I make mistakes too when I enter the market but the overall trend takes care of everything). Then the trade works always does, and I can manage the trade better that way. But when I see that I'm -$7000 on an account, no one can take that kind of loss in a day, or hours, or even minutes in this market. So you close the trade for a HUGE loss!

So if you are looking for excitement (pants flaming and leisure suites in Manhattan), then you've come to the wrong place.

All we do here is make money, in a very boring way. Sorry for the disappointment....but I at least hope that you like the video!!!

In this industry we ALWAYS use stop losses!!!! PERIOD! Now I have traded without them, but this was a big mistake. Don't loose $15K on one trade like I did because of no stop loss. Yes, I have lost, so listen to me when I harp! Lucky I make $17,400 a few hours before on 4 trades. It still REALLY hurt though. I couldn't trade for a week after that.

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Have fun guys!!!


Live live abundantly.

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