This is not yet another article to entertain you for couple of minutes and plant an idea inside your brain that you’re going to forget about by the bedtime. I am about to tell you a story, a true story about three traders. Three traders who traded with three different trading styles – day trading, scalping, and position trading. You are about to hear a story of myself and how I went through three different trading periods, financially and emotionally. If you look close enough some of you might even recognize yourselves and learn a thing or few. [Read more…]
Recently I received a question from a perspective FXCoaching.com customer after he saw the forex signals track record with four consecutive losses of 70, 90, 42 and 99 pips.
His question went like this: “Hello Steven, your overall trade results look good but, for example on week of August 16th 2010, you had four consecutive losses of 70, 90, 42, and 99 pips. Won’t that trigger a margin call or nearly wipe out my account?”
My reply: Whoa! Slow down. I am sorry, but what you’re doing does not even come close to resemble actual trading. Please forgive me, but I’m going to be a little harsh here.
If what you are suggesting is true, then you are definitely gambling. If losses of 70, 90, 42, 99 pips can wipe out your account, you are using WAY TO MUCH leverage.
Stop it now and take this business seriously! [Read more…]
Traders typically approach financial markets in one of two ways: either through technical analysis or fundamental analysis. The reality is that history is full of traders who have had very successful careers as traders that employed both of these types of analyses.
In fact, in Jack Schwager’s best-selling classic, Market Wizards, two of the traders interviewed are Ed Seykota and Jim Rogers. Rogers is quite adamant in his statement that he believes it is impossible to make a living as a technical trader. He goes so far as to say he has never met a rich technician. Seykota actually shares the exact opposite story. According to Seykota’s own interview, he was a struggling trader when he traded according to fundamental analysis. It was not until he became a technician that he started to make a living trading financial markets. [Read more…]
“It’s The Most Leading and Most Profitable of All Indicators I’ve
Developed, Perfected Over Several Years. This is the Closest
Thing to a Crystal Ball You Will Ever Find. Read on to Discover the
Reasons Why SuperADX™ is my Primary System for Both the Forex
and Equities Funds I Currently Manage on a Daily Basis.”