The Forex 1 Club

Posts Tagged ‘forex’

<h2>Everybody hates to lose and unfortunately no one is blessed with the ability of foresight, therefore losses are an unavoidable part of trading.

When we enter a trade we will either be right, or wrong, and even if we broke-even we’d still be classed as being wrong – as nobody enters into a trade just to break-even! When unsuccessful traders encounter a string of losses they begin to engage in self-destructive patterns that help them escape the pain they are experiencing.

Bring to light these self-destructive actions that can help you realize what you are doing before it takes hold of your physical health. If you find yourself already engaged in these patterns hopefully this article can help you to get you back on track as quickly as possible.

What are the destructive patterns?

If you find yourself caught in a string of losses or a bad performing week/month be sure to monitor your behavior. It is during this time that you will be at your most vulnerable. You will begin to indulge in activities that at first seem harmless, but upon excessive use (or in time), begin to cause physical damage to your health.

Ask yourself the following question: during drawdown periods do I find myself over-indulging in these activities:

Food (especially junk food – e.g. chocolate, ice-cream, chips)?

Sex (includes viewing pornography)?

Alcohol?

Drugs (includes excessive smoking)?

Laziness (find it difficult to wake up in the morning)?

Entertainment?

All of the above taken in excessive doses can be detrimental to your own physical health (some even in small doses!).

These activities above during your losing period are only covering up the pain of confronting the true issue, and your body tries to rid the emotional pain by trying to “fix” it with physical pleasures. Unfortunately it is going about it in the wrong way, so what should you do?

Firstly… REALIZE WHAT YOU ARE DOING AND STOP IT!

You need to realize what you’re doing and you need to STOP doing it immediately! You can either decide to stop, or you’ll be forced to stop when your body eventually breaks down and prevents you from any form of movement. It will be much more beneficial to you in the long-term if you can decide to stop *NOW*.

Once you have stopped you now need to figure out a way to solve the pain – not by cutting out or neglecting it, but by staring it in the face. Bring your problems out into the light, be honest with yourself. There can be no growth without pain; you are experiencing the emotional pain, now it is time to find the error and therefore your growth.

Begin Your Review

The review process begins in two separate areas: You & Your System. Here are some checklists for you to go through to find out where the problem could lie:

“YOUR SYSTEM” CHECKLIST

Was your system thoroughly tested prior to trading it (or paper traded if you do not have the capacity to program your system into back testing software)?

Did you test with out-of-sample data?

Do you even have a system???? If you do not, how do you even know if the method that you are trading is even profitable??

Is your system’s code correct?

Did you over-optimize your system? (What have we discussed about over-indulging?)

Did you paper trade your system prior to placing capital on it?

Did you trade with a small amount of capital prior to placing the rest of your funds on it?

Do you know the system’s limitations?

Did you properly drill your system? (See our blog article on why I am the system designer from hell)

“YOUR” CHECKLIST

Is the current drawdown you are exhibiting with your system normal?

Are you comfortable with your system’s historical drawdown performance?

Are you fully aware of the risks involved with your system and the instrument(s) you are trading?

Are you trading with funds that you are comfortable risking?

Are you relying too heavily on your performance?

Have you set realistic goals?

As you can see there are generally two areas that you need to explore: the mechanical aspect – your system – and the emotional aspect – you. Both can be responsible for making the way you feel the way you do. It will either be an error on the system’s side with how the system was tested and/or programmed, or it can be your own psychological profile not being comfortable with the system’s performance.

Your Answers = Change = Your Growth

What steps should we now take? Now that we have begun a corrective process where we have stopped the evil nature of our over-indulging ways to take control we should continue our “corrective nature” by invoking our findings and taking ACTION in correcting our errors.

If the problem was mechanical – fix it, if the problem was emotional either go about setting up new thought patterns, or change your current system. The answers lie in whether you need to expand your knowledge in system development, or whether you need to grow emotionally as a person.

Unfortunately there is no easy road, and even if there was everybody would be doing it. Hopefully this article has made you ponder over some of your behaviors during drawdown periods, be sure to keep an eye on yourself and as always take care of your body, because there’s no use in making all the money in the world when you don’t have the physical capacity to enjoy it.

Wish you success!

Mike Sanders

Forex 1 mobi Club

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<h3>Forex is like watching a school of fish move.

One minute is total harmony, the next, complete chaos. As the observer of this school of fish, do you believe you can accurately predict the direction the school of fish will move each time?

Would you bet on it?

What causes the fish to move the way they do? Why do they work together in one moment, moving with force and precision, and move in what seems to be an infinite number of directions the next? There’s no way to know unless you can sense what the fish sense each time they move.

The fish have an instinct about the nature of their environment. They understand the context of all things around them – natively – and can react accordingly. Surely if you shared this understanding you’d be a much more accurate predictor of fish movement!

Trading forex is not much different – we need to develop that keen sense of what is happening around us.

Will we ever be able to predict every move in the forex markets? Absolutely not. But we can use our understanding of the context of the market – the six forces of forex – to make better, more profitable trading choices. Once we understand these forces, we can create and operate within a comprehensive trading plan:

1) Who trades forex? Understand who participates in the markets, why they are successful, and how you can emulate them.

2) Why trade forex? There are superior returns in forex, but not for all investors. Are you one of them?

3) Where should you trade? Choose to work with service providers who can efficiently enable your style of trading.

4) What should you trade? Select the currency pair, entry, exit and money management methods that will maximize your returns.

5) When should you trade? Trade when the environment is most likely to produce the best conditions for executing your system.

6) How should you trade? Trade using methods that maximize your ability to emulate the proven winners.

Knowledge of these forces and how they work is a major determinant of your success as a trader.  Make your decision how you can protect your self. Where you get the maximum of information and knowledge about the best ways! Anyone can use it to make profits with forex!

- 24/7 Support! You can try it risk-free!

This is a no-brainer. This is a real money-making opportunity.

But remember, Forex Cash Evolution will sell out, no doubt about it. With only a few spots available, it won’t be long before the people who can see the opportunity that having a sytem like Forex Cash Evolution…

So check out Forex Cash Evolution now and get a copy for yourself before all the licenses are gone:

=> Forex Cash Evolution

Best,

Forex 1 Club
Mike Sanders

P.S.: The last time I saw this much amazing system it sold out in under 24 hours – if your reading this email now there’s a chance that it might already be too late…

So, seriously, DON’T delay. Go check out Forex Cash Evolution now!

=> Forex Cash Evolution

Mike Sanders

Have results!

Forex 1 mobi Club

Mike Sanders

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<p>Forex Cash-EvolutionForex Cash-Evolution

Forex Cash Evolution has just gone LIVE!

=> Forex Cash Evolution

Jeff Miller and his team are unleashing their new evolutionary trading software on the market RIGHT NOW!

You already know, forex trading can be very profitable, but it’s also risky! You can make good money from forex trading only when you have a WINNING system with highly accurate entry/exit and advanced money management rules.

Forex Cash Evolution is such a system. It was developed based on Jeff’s battle-tested mechanical system that strikes an astonishing 92.5% winning rate.

It took years and tons of money to develop and test Forex Cash Evolution. And the results are nothing less than outstanding:

Beta-testers raked in $1,000 profit with just 2 autopilot trades… or $3,120 profit in 1 month … or $23,153.20 in 45 days on their live accounts…

Back-testing showed Forex Cash Evolution could turn $10,000 in $2,636,067.62 in 9 years (from 2000-2009). It’s around $292,000 in profit per year CONSISTENTLY.

=> Forex Cash Evolution

What does this mean to you?

This means consistent profits pouring into your account *ON AUTOPILOT* in any market condition.

Listen, even if you might not be able to make as much as what the beta-testers made (because of your startup capital etc…), will it worth to check out the software that can make you a lot of money?

=> Forex Cash Evolution

This is what Forex Cash Evolution is all about:

- Highly profitable. Work in any market condition.

- 100% Automated. Truly a set-n-forget trading solution!

- Extremely easy to use. 3 minutes are required to get it up and running to make money for you. All you need is just a click of mouse because the software is an executable file itself.

- No experienced required! Can start up with any money. Anyone can use it to make profits with forex!

- 24/7 Support! You can try it risk-free!

This is a no-brainer. This is a real money-making opportunity.

But remember, Forex Cash Evolution will sell out, no doubt about it. With only a few spots available, it won’t be long before the people who can see the opportunity that having a sytem like Forex Cash Evolution…

So check out Forex Cash Evolution now and get a copy for yourself before all the licenses are gone:

=> Forex Cash Evolution

Best,

Forex 1 Club
Mike Sanders

P.S.: The last time I saw this much amazing system it sold out in under 24 hours – if your reading this email now there’s a chance that it might already be too late…

So, seriously, DON’T delay. Go check out Forex Cash Evolution now!

=> Forex Cash Evolution

Mike Sanders

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