What Makes A Successful Trader?

| In ,
There are two ways on listening to a music. Those who just feel the rhythm of it to relax and enjoy. The second way is diving deeper to the emotion of the rhythm, absorbing the lyrics, learning the relevance of each note and putting oneself to the story it tells for complete immersion. The first one is for enjoyment, the second one is for mastery. When listening to the music, both ways are fine. But if you are aiming for mastery, you should be doing the second one.

The same with Forex Trading, there are also two ways to do it. Most of the traders are learning the chart, candlesticks, indicators, trendlines, channels, price actions, fibonacci, etc. They focus on the obvious angles of the analysis. They observe the ups and downs of the price movement. They focus on what they see in the chart based on common knowledge. That would make you enjoy trading. The second way; the hard and painful way is always ignored. Because it requires diving deeper beyond the obvious, absorbing what's behind the chart, learning the relevance of each candlestick, indicators, etc., and putting oneself to the psychology and behaviour of the whole market, and knowing the story it tells beyond fundamentals and news, knowing entirely new dimensions of possibilities. If you aim for just knowing how to trade, you do the first one. But if you aim for mastery, you should be doing the second one. The second one is not quick, not overnight. It may take years to master. All those who invented the indicators and methods are all masters. They jumped beyond the common knowledge. That's why they came up and invented something. They invented tools to make trading easier for ordinary traders to learn trading quickly instead of aiming for complete mastery.

In the Apprentice Program, we will be discussing about this tools in order for them to achieve quick success possible. Tools will be introduced, but members should be smart, patient and not lazy enough to follow exactly how they are used. The bottomline is... they should be profitable after the program, the easy and quick possible way. The goal is ambitious. But it's too early to say that it's not possible. We are choosy on admitting participants as 100% profitable students is the overall objective. We are accepting only for smart, independent, resourceful and not lazy traders to achieve this.

Join here if you think you have what it takes to be an apprentice. It's free... http://eepurl.com/c0QPS5 

No Stop-Loss and Hedging: Unbeatable Combination?

| In , , ,
Search the internet. Google "Forex Hedging". Have you found a clear strategy on how to escape the unmerciful strategy. Most traders who hedge has ended up using Martingale, and eventually get busted in the end. When this topics are seen in the internet, forum, and any social media platform like Facebook. People often ended up blaming the traders who hedge on not doing his best on analyzing the chart before entry, instead of helping out how to end it. Those who would like to help, with the lock of clear system to end up hedged trades, they will just point out support and resistance levels. It may help, but we all know that still that's not a clear way to get rid of the bad situation.

I have seen this all the time when reading online. This made me decide to get back to teaching, but this time I will give it away all for free to those newbies who deserve it and seriously eager to learn. After the Apprentice Program that I just started, I may go back to hibernation again. Unless, my new students become obedient with the whole process. If you are a newbie and want to jump the bandwagon, and you think you have the right attitude to get along with the process, you can just register in this link...   http://eepurl.com/c0QPS5

Now, let's go back to the main topic.

There are two types of trader's behavior in a situation of a losing trade. Those who want to cutloss right away, and those who want to keep up with the fight, and possibly will hedge. To each his own. Both can be a good decision, if you know exactly what to do.

Cutloss - this is for those who don't feel hurt to lose some money. The question to those who do this is... "How can you recover the lost money in a short possible time?". Do you have a plan for that? It is easy to say or do that you will cut loss, but lost money is lost money. Are you doing it just to say that you are doing it properly to feed your ego? Or it is really a part of your exit plan?

Hedge to keep up with the fight - this is for those who don't want to see his account balance to decrease. Admit it or not, there are many traders like this.  Their ego can't handle the feeling that their trade is a losing one. They just can't take it. But with this, the same question applies... "How can you recover from the hedge trades?". Do you do it just to keep up with your ego? Or is it really a part of your exit plan?

Once you answer this to yourself with complete honesty, you will eventually realize that everything else is the least of your problems except your "Exit Plan". Your exit plan will make or break your trades, and not your analysis of your entries. A complete design of an exit plan is what you need before you open a trade. Unfortunately, most of the traders don't give attention to this part of the trading plan. They are thinking that just putting an SL is already a good exit plan, or doing your best to get the direction, putting a tight TP with no SL is a good way to go. I'm sorry to break the news, but these are all misconceptions.

Stop-loss can be used, definitely for your exit plan. Hedging with no stop-loss is also a good way to go. But, there are a few things that you need to think about before you can execute them with high accuracy. Not 100%, but at least with high probability that you will make it a positive trade.

In the advanced part of the Apprentice Training Program, you will learn both. Using SL, and using Hedge with no-SL. These are for free guys, no string attached. If you want to learn this, catch us here...  http://eepurl.com/c0QPS5

To Use Or Not To Use Stop-Loss

| In
This has been dabateable since the beginning of Forex Trading.

Some traders say that not putting an SL is a suicide and some say that putting an SL, either visible or mental SL, is more dangerous to your fund. 

Why traders have different point of views on this? This is actually because it depends on the experience of the traders and therefore also depends on the kind of strategy that they have been using. Most likely some traders had a bad experience for not using SL that's why they are saying not using one is a no-no. On the other hand, some traders had a bad experience in using SL so they promised themselves not to use it anymore.

Another reason for this, maybe some traders became successful (short-term or long-term) on not using SL. Of course, this is debatable again to some traders. They would say that success will not last for a long time. But if you haven't experienced what the successful non-SL traders have experienced, you are not in the position to tell that what they are doing is not proper. They know a trick that you don't know.

On the other side, to those who are in dispute to those who are using SL. If they are successful, it means they know something that you don't know on how to use SL.

Opinions of traders are limited and based on what they already know and what they think they already know (There'a a difference actually hehe). It is also limited to what they have experienced.

So next time you heard a strategy from another trader and you think there's something wrong to what he is doing, do not be quick on judging, bashing, harsh comments, etc. "Respect" is the first keyword that should be in your mind. Respect on others' strategies may lead you to learn new tricks that you never thought possible. Respect promotes collaboration. Collaboration delivers quick success. 

PS - On trading with or without SL, both are equally risky if you don't know what you are doing.

News Alert for Fundamental Traders

| In
If you are a fundamental trader, this google feature may be an additional tool that you can use to add confidence to your trades, Google Alerts. This tool can send information about the currency pairs that you want to track directly to your e-mail.  It is very easy to use. In your browser, just type the following alert site url.

www.google.com/alerts

As in the screenshot below, enter the keyword you want to track, e.g. "EURUSD". Fill-out the other fields depending on your needs. The two important fields, should be filled out like the following...

How often: As-it-happens
Deliver to: (indicate your email address)

Then click the "Create Alert" button. As soon as you click that button, google will send an email to you once an information about your keyword is gathered by its crawler. With this tool, you may discover some news related to your currency pair and it is delivered right into your inbox.



Zero To Hero: The FXFledgling Forex Apprenticeship Program For Beginners

| In

Zero To Hero

An ambitious goal. My dream. Our dream. The apprenticeship program is aiming to teach newbies, who has no background on Forex Trading.

If your dream won't scare you, they aren't big enough.

So for the 1,000 members of this program, I am aiming for 100% profitable students in less than a year. I'm screaming now here. "CAN I DO IT?", "CAN WE DO IT?".

In any endeavor, acting alone is a slow process to success. In this initiative, I need the 1,000 members to be cooperative and should follow instructions down to the last details. Failure to do so by one of the members will hinder progress.

The plan for this program is just at the initial stage. I just decided about this this week. I will structure it as I go. Any issue we will have in the middle of this process, please bear with me. Let just help each other refine the program for the sake of the whole group. If there's an issue, let's all resolve it like an educated people, no guilty-finger pointing. If we are all together into this, we will achieve the 100% goal.

This blog will be our official blog site. All topics will be posted here. All tools that I'm going to share will be uploaded in our FB group, https://www.facebook.com/groups/FXFledgling/. All tools will have expiry. Only members of this apprenticeship program will get a full-version no-expiry copy. All tools for manual trading will be for free.

If you want to say something to the group, please post to our FB group.

Good luck to us.

PS To those who want to join the fun. Please register in this link... http://eepurl.com/c0QPS5