INTRODUCTION Many people enter FOREX trading with the hope and wish to become financially secure by trading the Forex market for a few hours a day online from home. There are a few good examples of successful traders, but sadly for every successful trader there are sometimes hundreds of traders that fail. One of the […]
Many people enter FOREX trading with the hope and wish to become financially secure by trading the Forex market for a few hours a day
online from home. There are a few good examples of successful traders, but sadly for every successful trader there are sometimes
hundreds of traders that fail. One of the reasons for this is that traders cannot deal well with losing trades and have not found a reliable trading system.
That is why it is so important to find a trading system with a very high success rate. The sad reality however is that systems that achieve
a high success rate unfortunately trade with HUGE stops or even no stops. Many traders use these systems successfully but sooner or later
the market does what the market does and wipes out all or most of their accounts. That is a sad reality of trading.
Other systems that provide high success rates give so few trading opportunities that traders become bored waiting for a setup to arise.
In my early Forex trading days I use a successful short term Forex trading technique which I developed and kept very much to myself. Forex
opportunities have improved considerably since then for this technique. It is a technique that allowed me quick, highly successful,
deals with good risk control (stops of 14 pips). It is a technique that takes a lot of concentration (2 to 4 hours a day) and requires one
to watch the screen all of that time. To give you an idea most deals go positive in less than a minute and closeout positively within 5 to 10
minutes. The advantage is that there are a good number of trading opportunities allowing one to enter 10 to 20 deals during that 2 to 4 hour period (a day).
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