Experienced forex trader required to succeed
Experienced forex trader required many systems have been created to generate big money with Forex, but the reality there are many which are complicated and without understanding
the logic of the systems.
Is by them both Experienced forex trader required is fundamental be accompanied of some trading with much experience for to minimize them decisions fatal that we do lose money,
It is the reason that the systems that we choose should be oriented with an experienced trading and get the best result.
This is the system that has created trading professionals. It has ended thus and today it continues to get bond of consequently, as with happened as soon as me.
It is not a system written in any Forum, in reality I take that it has been the first to combined all the ideas and make a structure to carry them out, but these connected ideas and these events have been that winning traders have been used for decades and will continue using, because it is based upon fundamentals abundantly mean and valid.
Is known that the time of observation makes dilucitar them patterns, and after certain time in the Forum and in all this world of the trading have found many patterns in the answers of the people, have reasoned about them, and I have given has of their failures, the by that not get be profitable.
There are people who has put effort into this. Not all, but there are people who actually has read much, much studied, learned a lot and tested much, and still isn’t able to achieve stable profitability.
The question is: is there a sufficient in that effort? Do you have a specific time in the line of learning where begins to be profitable? The question is whether, logically.
There are traders who generate steady profitability. Hedge funds, investment firms… and the difference is found in areas that for some reason people don’t want to invest time.Experienced.
Because there is more together fundamental analysis and strategies to the psychology forums, daily messages?
As human beings, our brain is programmed to look for positive answers fast. In nature the brain does not understand the concept of long-term investment. There is only a short term investment made from the difference between what we think that it is going to cost something, and what we think that we are going to provide. If we think that it will cost us more than we can provide, we simply don’t feel motivation. It is a simple mechanism.
The market plays with these mechanisms. There are more scalpers created from the search of that positive emotion than of a scalping system search.
In short, we are not scheduled to operate, and there lies the fact that only a vast minority of operators are profitable.
Among others, I have observed several patterns of behavior that make fail to a trader, and are:
-Search of pleasure immediately: the trader wants to feel that has won on the one hand, and by another wants to avoid the feeling of loss.
As a result of this there are many traders that placed a take a stop-loss very high and very low profit. Experienced. This not bad if we have reviewed before the odds, the mathematician of hope factor, relationship with the drawdown… but in the majority of cases is not known absolutely nothing statistical. Only this that need to win. They win, they win, they win, up to one day, the odds do their job and stop loss is touched, returning the account to its origins or leaving it with less money than I started.Strategies. This does not work.
-Search for immediate wealth: again is something immediate. People want good emotions, and we want them already. The vast majority of traders come to this world with fantasies of wealth, women and expensive cars, but not the hard work, they displayed.strategies. the sickly hard work that lies behind all this.
Hence underlie behaviors like looking eternally new robots or expert advisors that promise big money, or new systems. The type of trader that has this built-in pattern is characterized by doing nothing more than that. Spend the day looking for
Of course never get constant money.
-Think that trading is easy: the trading is not easy, is simple. For that? Because when you get the knowledge and expertise to find you in a stadium of superior knowledge about the market and actually make money, it’s very simple;
only have to apply the same equation again. However not is nothing easy get to this equation. This equation includes variables as understanding of the risk, mathematics, certain features in the personality that should be assimilated
little by little, intelligence, lots of experience…
This is not easy. This is a business, and in fact is one of the businesses more difficult in the world. It may seem simple to see a series of candles on a screen or maybe a line, or any type of graph, but it is not. Behind the screen there are hundreds of
thousands of very smart, very disciplined, very polite, very professional…
This business is the most profitable in the world if it is known to take, since
it is based on the concept of compound interest, but is also one of the most difficult. And repeat. Is a business, not a game.Strategies. Think that never hear to a lawyer say to its buffet: “are going to focus all our time in find a strategy that ALWAYS us do win a trial, ALWAYS.” would that sounds ridiculous? A mi me sounds equal of ridiculous for the trading.
But not you have it fault, have you been subconsciously deceived through it
advertising of those brokers and of your own desires internal, to think that this is something easy.
-Lack of discipline: the trading not is something that you can do 10 minutes the Monday and 6 the Thursday. This not is game, and until not is get a schedule regular not is you can start to win money. There are people that opens a graph a day during 5 minutes, then to their life normal and then to the of a week returns to look at it during other minutes.
It trading not must treat it as a hobby. If you want to earn “money” I advise that not even enter, because terminareis losing something or lots of money. You have to think if really you want to that the trading is part of your life. Is as when you know to a girl and you want to marry. Really like to enter in this with all the consequences? Because otherwise it does not work.
ATTAC hard work that is behind this. Nights in sailing, frustrations, several hundreds of dollars in lost (at the beginning)… come to the world of the trading with a reason really deep, but perdereis a time and a money that no one you returned, and both things are finite!
-Know something and pretend to know it all: win money in them markets not is based in paint the graphic as a child a paper with waxes crayola and claim to win money.
It is not based on draw lines or circles or squares. Is based on understand the functioning
all these tools, the background of the making of the herramientras of the trading.
A trend line only mark a wave cycle within a time frame most, within a time of greater frame and thus indefinitely. At the same time, this wave is divided into waves with a concrete behavior, divided into waves more small and
etc, and understanding this dynamic is fundamental to win.
Not is the fact of drawing a line. That can make it a child of 8 years. It is understanding the why.
There are traders who read two books of technical analysis and a delta analysis book and believe that they are professionals, but do you really understand the behavior of the market? The answer is in their portfolios.
After this explanation that only the 10% there will be read, will try to detail step by step something that esl 90% ansiara, and that quickly there will be turned the scroll of your mouse for search the solution to all their problems while supports the beer in some book of “become rich”, rotten by lack of use.
These steps should take is to out one by one, starting by the first, cumpliendolo, passing to the second, of form successive and growing. If steps are taken for granted, or not met at all, it simply does not work.
Is that this happened and the person who made it thought “Bah, it does not work.” and will return to his routine of search strategies top.
Said this, the steps are:
1 ° create a has REAL with 50 dollars approximately:
_ Forget you from those accounts demo. They are a utopia, they are useless. There are infinite liquidity, without emotions and without slipagge.
These things will change when we go into the real market, and the person more experienced in the world will notice a sudden drop in your
profitability when you pass on real accounts.
And not only use a demo account has drawbacks, but they use a real advantages.
We will have a real slipagge with a real liquidity. Requotes real and more. It more important: we will work our emotions at the same time. Because if, lose or win a couple of cents, but that has an impact subconscious of lost.
This means that we will begin to expand our comfort zone from the first moment.
Using a demo-account is simply a disadvantage.
2 buy a newspaper in the stationery or the Chinese (optional), or enter a Internet or Word:
A daily we will be of GREAT help. Not you you can imagine, for which do not have one, the as a daily can detonate our curve of learning. It is simply absurd to not have daily. It’s like, take a note of 5 rather than one of 100.
In this journal write down observations we make about the operations that we will carry out points later explain in this manual.
Divide the daily in 2 parts:
1 part: it operational in Yes. We will write the reasons for each operation. He by that you have made.Experienced.
Part 2: how we feel. We desahogaremos expanding without limit the how we feel, that it tells us our intuition about that particular operation and so on.
How to use:
We will read the newspaper once a week, thinking about the emotions that felt every day and in what situations, and the reasons.
Soon, we begin to realize that we have certain patterns in the way of feeling and operate, and will have the ability to change them.
Also can learn from failures that we make, and have them always at hand in a journal.
3 ° search for a strategy that has the following characteristics:
-Make it SIMPLE. Anything 4 or more indicators or the colors of the gay flag drawn in the graph-based 1000 lines. Why? Because there is always an initial enthusiasm, and perhaps can be complex for a week, but burned that motivation we loading and
the leave of side.
Therefore, the strategy must of being simple. If we use metatrader, the indicators by default function. Nothing of macd’s non-lag and tools like. That not leading to any part. And if not it think, you dire that in all the areas of the life comes the marketing. In addition to trading to MMA and I now do powerlifts there are 1000 exercises to do. However the classics continue to operate and work very well. Seems that does not share the same opinion them sellers of appliances strange of sport, that it only that want is sell!
4 ° understanding the strategy:
-There is that gut every process of the strategy and reason about it. What does this indicator? What makes this process? Why this and not another? By to this exit?. Some strategies be based on non-specified outputs. This does not imply any problem because as we pick up experience in this specific strategy, recodaremos situations that have occurred, we will see situations that are repeated (patterns) and we can find better entries and exits. Everything is in our hands.
5 ° collect information statistics essential:
-This part is ESSENTIAL, and any operator may have so much security in if same to the operate that if uses a strategy that at least have hope math positive and a drawdown acceptable.
Step 1: To carry out this collection of information it is necessary to try strategy for at least 100 signals. Yes, 100 signs.
Assuming that it is an intraday strategy and do an operation per day, it will take us 100 days (3 months and 10 days approx.) to carry out the study. Logically these figures can change depending on the number of operations we do daily with the strategy.
I have no doubt that after reading this manual go to a strategy scalpers, with 100 signals every 10 minutes fast where the seller leave with a big smile in your promotional video.
I personally recommend a system of maximum 2 daily operations to begin with, but this is personal.
Is it a long time? Go! It turns out that a college student of average intelligence takes 6 years to finish a race. It takes 6 years only in form is, and there are races that even more. This not you ensures no profitability, and in all case the greater part of
the times will get a static and non profitability based on compound interest. Never could aspire to more.
The market offers profitability made, not there will be heads, or schedules that not us may impose. Always have work, and can earn a lot more money that the majority of people with racing or masters. Is it a long time? I think not.
As was saying, will test the strategy 100 times with our has REAL that we have created in the step 1 °. Decide to use an account demo? Best looking for another manual; This has to be something serious. You are 100 dollars and will be the best investment in your career of trader.
Step 2: Once the report of 100 strategies in hand, will collect the following information:
-How many times have won and how many lost. Then, find the percentage of hits.
-How much we have won, and how much we have lost. Then, find the average profit and the loss average.
Step 3: with this information will complete the formula of the hope math:
(1 + benefit middle / lost medium) * (percentage of hits / 100)-1
-100 operations there are 50 winners and 50 losers, then the percentage of success is 50%.
-Our average profit is 20 dollars and our loss average is 10.
By filling in the formula:
(1 + 20/10) * (50/100) – 1
(1 + 2) * (0.5)-1
3 * 0.5 – 1
1.5 – 1 = 0.5
In this example the hope mathematics is of 0.5. It is POSITIVE, because it is greater than 0. From 0, we will know that this strategy will make us earn money over time whenever we respect the strategy.
If after a few days changed it, then we will have to again find this equation with other 100 different operations. Easy?
A score of “0” would mean that this strategy does not win or lose, but to the long LOSE due to the spread and other random factors.
We must try to find a strategy which, once made this study, the result of his hope mathematics is greater than 0.2 a MINIMUM.
Find this formula will give also a curious fact. Against greater the take profit in relation to the stop-loss, generally more positive will be our hope is mathematics. This has given many pages of discussion about whether to place take profit > stop loss or vice versa.
If our stop was more big that the take profit, then the other relationship (% ganadas/%perdidas) should be if or if positive.
But this only are references.
6 º expand our zone of comfort:
Not can work with operations of 10 million of dollars of the night to it tomorrow, but if we can condition progressively until that road.
Assuming all it earlier, and with a has real, some experience in them 3 months of collection of information and a hope math positive, are ready to operate in real with some consistency. But like to do?
Comfort zone are you limit psychological that we have before we feel fear or emotional stress. When we get in a fight, have come out of our area of comfort and feel tension, unless have a disorder psychopathic.
Whenever us look out to a balcony of 300 meters from a skyscraper, us move away from the area of comfort. Whenever talk to a depampanante woman, us away from our area of comfort.
Our brain creates a comfort zone to differentiate what is normally done, and is not substantially dangerous, unknown and potentially dangerous to our survival or reproduction. And whenever the brain interpret that these two aspects are in danger, we will feel emotions negative as fear, disgust, loneliness, anger, etc.
This issue is much deeper and would have that read several volumes of evolutionism to understand the why of every thing. The only thing that interests us here is the “who”, and that is that there is a zone of comfort that must be expanded smoothly.
With the trading takes place exactly the same. The Forex market is a virtual environment in which we lose or we win things, but our brain does not differentiate between reality and what is not, only attends to stimuli of a certain type.
We can lose the food in the middle of the forest or also an operation of crude oil.
Our objective is go conditioning our subconscious so go accepting PROGRESSIVELY lost and benefits small, and to pass the time, most large.
The exercise to achieve this is the following:
-Operate in that account from 100 dollars with our mathematically positive strategy for 3 months more.
-Past these three months, our account should have benefits, because of the strategy mathematically positive.
-Enter 200 dollars more and operate a month more uploading lots based on our risk management (do not advise that)
the risk is greater than 2%)
At this point, I hard it is resigned to impatience, but keep those times and not you as salteis but sintaid security, but you fracasareis, it’s simple.
-Last that month, will come up again our capital with a new entry. This time enter 1000 dollars (save if not you have 1000 dollars loose. them recuperareis more later. do you want to succeed? ingresad 1000 dollars.)
-We will test the operative a month with this new injection. Probably notice difficulties. More blockades, more euphoria to the win… would like know when passing to the following income? When you do not feel ANYTHING or as much something very superficial, when
We win or lose. If observe the wall and operate is for you it himself from a point of view emotional, is time of enter more money.
-Continue this procedure to have a has basic of 21000 dollars. The amounts to enter iran based on our ability not to feel emotions, ability that we will be taking over time.
We will raise capital until we feel that we block too. In that case we will make a drawdown to an amount more acceptable, and will continue at that level up to
get discipline and lack of reactivity to that level. Then, go up.
-If we want to win more money, we will continue by typing and entering. Always following the scheme of conditioning of 1 month.
By that a month?
A study performed in United States wakefulness that the subconscious need a half of 28 days to create new habits or eliminate habits old.Experienced.Emotional reactions are part of the habits. If we keep some pressure of any emotion during the time of need, in this case 28 days, create tolerance and the subconscious need a version more intense of the stimulus to be activated.
AND THAT’S ALL!
Follow these steps and triunfareis. Here is the chalice of gold, the tomb of jesus or as you please call. There is no more mystery in the world of trading. This system will accompany you during the next year, year and a half. It is the one I used and it WORKS.Strategies. Once done, you will have a very cost-effective system integrated in your being, because it will not only be mathematically feasible, but also you will have the necessary experience to make it infinitely more profitable yet.Experienced.
Also, you will have the psychology completely worked to a level professional to the have conditioned your subconscious of form gradually.