October 2016

If you understand how the Spot-Market works, by now you have somewhat of an understanding that each time you place a sell order or buy order, there has to be someone taking the other side of that position.

Follow me down this rabbit hole.  We all know at this point that beyond technical analysis, trading is largely emotional.

The real question is, when you are trading, what are you thinking and feeling?

Does opening a trade in real money cause you anxiety?

Do you have a hard time sticking to your original trading plan once your trade is open?

Do you have doubts about your ability to trade profitably?

If you had a $50,000 dollar windfall would you be willing to trade that money for profit?

Now, if your answers look something like, ‘I’m nervous, yes, yes, yes, no…’ Then this exercise if for YOU!

Lets take the other side of everyone of those negative thoughts.  Lets not only attack these intellectually, but as you do so, take some time to meditatively contemplate the new feelings that having a change of mental framework would cause.

If you are anxious when you are in a trade, ask yourself the question, ‘what would it feel like to have total and complete peace in each trade I take, regardless of the outcome?’

If you have anxiety when you open a trade in real money, ask yourself the question, ‘what would it be like if I could have a position open at a $100 pip and feel totally calm?’

If you have a hard time sticking to your original trading plan, ask yourself, ‘what would it be like to have total confidence in my trading plan, regardless of price fluctuation, until I am given definite information that tells me otherwise?’

If you doubt your ability to trade profitably, ask yourself, ‘What would it be like to KNOW that I always keep an account in the black?’

If you wouldn’t trade a big sum of money for lack of confidence, ask yourself, ‘What would it be like to trade the big account confidently, knowing that I will consistently profit?’

Now the goal, and challenge is to learn to exist in and approach your trading from the same state that taking the other side of your thoughts creates in you.  THAT feeling of peace, excitement and confidence is the only way that a profitable trader should be approaching the market.

As Napolean Hill said so famously, ‘whatever the mind can think, it can achieve.’

Lets all strive to tackle the emotional side of this business with more vigor and tenacity and climb the lot ladder!

Hey Folks,

We’re back at it and better than ever.  In the last series of riveting blog’s, we investigated some tried and trued principles that every patron of lasting success can surely agree on.

So now a little bit of context as to what applying your time, effort and the rules of success to FOREX trading can mean for you.

Times are a little ‘out there’ right now to say the least.  Near bubble heights in housing.  Massive and increasing National Debt.  Over-extended economic stimulus from the FED.  A wild west-esque presidential election.

While nobody knows exactly what is to come as a result of the aforementioned, it is probably safe to assume that some type of economic volatility is likely in our future.

In the world of dollar cost average long term retirement investing, this is scary.  In the Job market, this is scary.  In the housing market, it can mean massive debt and a nation upside down in their home loans, this is scary.

In the world of FOREX, you have spent months, maybe years learning what to do with volatility.  Volatility in fact, is what we look for.  This can be your time to shine.

A perfect example of this happened to me this week.  I entered a trade based on some standard criteria that we have used and discussed at the Fx365 Institute for years.  My overall risk in the trade, ie my determined point of exit would have resulted in a 2.5% loss.  A 1 to 1 risk to reward would’ve been acceptable.  The trade started to move in my direction faster and farther than I anticipated.  I covered the trade very conservatively for a 13% gain on my account.  I wasn’t the only Fx365i trader that was in this trade, and we weren’t trading together which tells you something.

Because of what we have been learning, I was able to make judgements during the trade based off of what price-action was doing that allowed me the opportunity to have strong profit.

More future volatility means that you will continue to work at your success just as you have, but you will reap an even larger reward for being in the right place at the right time.

Until next time, Happy Pipping.