The Best Step By Step Guide To Learn Forex Trading For Beginners - PowerPoint PPT Presentation

slide1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
The Best Step By Step Guide To Learn Forex Trading For Beginners PowerPoint Presentation
Download Presentation
The Best Step By Step Guide To Learn Forex Trading For Beginners

play fullscreen
1 / 34
The Best Step By Step Guide To Learn Forex Trading For Beginners
68 Views
Download Presentation
samandar
Download Presentation

The Best Step By Step Guide To Learn Forex Trading For Beginners

- - - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

  1. THEULTIMATE FOREXTRADINGSYSTEM UnbeatableStrategytoPlace 92%WinningTrades MOSTAFAAFSHARI ThirdEdition

  2. Copyright©2016byMostafaAfshari Allrightsreserved.Nopartofthispublicationmaybe reproduced,distributed,ortransmittedinanyformor byanymeans,includingphotocopying,recording,or otherelectronicormechanicalmethods,withoutthe priorwrittenpermissionoftheauthor,exceptinthe caseofbriefquotationsembodiedincriticalreviews andcertainothernoncommercialusespermittedby copyrightlaw.Forpermissionrequests,writetothe authorattheaddressbelow. mostafaafshari@hushmail.com

  3. Contents Preface PARTI:BASICS 1 1.WhatisForex? 3 2.Profit/LossUnits(pips) 3 3.InvestmentUnits(l?s) 4 4.GenerosityofBrokers(Leverage) 4 5.ForexCharts 5 6.TrendandReversal 6 7.SupportandResistanceRevisited 11 8.ConsolidationandBreakout 13 9.LocalMaximaandMinima 16 10.WhichAreTheBestCurrencyPairstoTrade? 17 11.TheBestHourstoTrade 17 PARTII:FOREXTRADINGSTRATEGI? 21 12.ChartPatternsTradingStrategy 23 12.1TheMostProfitableForexChartPatterns 23 12.1.1MandW(Bat)Patterns 23 12.1.2Triangle(WeakeningMandStrengtheningW)Patterns 24 12.1.3Cascade(WeakeningUpwardorDownward)Patterns 25 12.1.4HeadandShouldersPattern 28 12.1.5SolidWall(orSandwich)Pattern 29 12.1.6Fractals 31 12.1.7DoubleandTripleTop/B?tomPatterns 31 13.PriceRejectionTradingStrategy 33 14.CorrelationTradingStrategy 38 14.195%ProbableCorrelationTrading 39 15.VolumePriceAnalysis(VPA)TradingStrategy 42 16.LongTerm(Daily,Weekly,Monthly)TradingStrategy 45 16.1AbandonedBaby-EMA(5)LongTermTradingStrategy 48

  4. Contents 17.SentimentTradingStrategy 51 17.1WhatIsTradersSentiment? 51 17.2HowtoUseSentimentChartsinTrading? 52 18.MultipleTimeFrameTradingStrategy 56 19.NewsTradingStrategy 58 19.1WhatIsNewsTrading 58 19.2HowtoDoNewsTrading 59 19.3ATypicalNewsTradingSession 63 19.4MyRemarksonNewsTrading 66 PARTIII:THEULTIMATEFOREXTRADINGSYSTEM 69 20.HighPerformanceTrading 70 21.MoneyandRiskManagement 73 22.TheConceptofOptimalTrading 77 23.ATypicalHighPerformanceTradingSession 77 24.PsychologyofTrading 81 25.PredictiveForexTrading 83 PARTIV:FINALADVICE 85 26.FinalAdvice 86 AnswersoftheExercises 87

  5. Preface Forextradingisabouthavingasolidtradingstrategy,having asoundplantomanageyourrisks,beingabletocontrol yourexcitementsduringatradeandhavingdiscipline.“The Ultimate Forex Trading System-Unbeatable Strategy to Place 92% Winning Trades” is an attempt to create a balancedsystemofallthesefourkeyfactors.Theresultisa high performance trading system quite adaptable to any tradinghabitandpersonallifestyle.Thisbookincludesthe followingtopics. InpartoneIhaveexplainedpreliminarybutkeyconcepts thateveryForextraderneedtoknow.Topicssuchassupport andresistance,consolidationandbreakout,thebestcurrency pairstotrade,thebesthoursfortradingandsoon. In part two you will find eight essential Forex trading strategiesthathavepassedmystrictcriteriatobeeasyto apply, highly profitable and manageable. Chart patterns tradingasaclassictradingmethodisthefirststrategythatI haveexplainedinthisbook.Onlyveryhighprobablechart patterns are discussed and real examples help you to discover their trading potential. In this chapter I have focused on training eyes and mind to predict (with high probability)howthenextbar(s)willunfold.Pricerejection(a subsidiaryofpriceaction)isthesecondtradingstrategythat Ihavediscussedinthisbook.Usingpricerejectionpinand twinbars(thatrevealsthemomentumbehindtheprice)isa

  6. classicskillthateveryprofessionaltraderhastoknowand benefitfromit.ThethirdstrategythatIhaveexplainedis correlation (negative or positive) between currency pairs. Correlationtradingisaveryaccuratestrategythatexploits thediscrepancyortimelagbetweentwonormallycorrelated currency pairs. Volume Price Analysis (VPA) is the next strategythatIhaveexploredinthispartofthebook.Under thistopicyouwillseehowverysimplerulesenableyouto interpretvolume-priceinterplayandhowitmakesareal differenceinyourtrading.Forthosewhocannotbeinvolved totrading24hoursadayandwishtoenterlongtermtrades tohaveenoughtimetoleavetheirtradingroomforafew days (or even weeks), long term trading strategy is the solution.Especially,averyhighlyprobabletradingmethod that I have called it Abandoned Baby EMA(5) is a very promising long term trading strategy. The sixth trading strategyusesrealtimesentimentcharts(buy/sellpositions) of worldwide traders to benefit from their opinion to forecast how the market will behave in the next hours. Checkingmultipletimeframesisagoodmethodtodouble confirmenteringatrade.IthasbeendiscussedinMultiple TimeFrameTradingStrategychapter.Newstradingasthe laststrategyhasbeentreatedfromastatisticalpointof view.Howestimateyourchancetoenterawinningtrade afterorduringnewsreleasesbystudyingthepricehistory andmarketreactiontothemediumorhighimpactnewsand what measures you have to take to manage this type of trading.

  7. Partthreeistheclimaxofthebookbecauseyouwilllearnto combineallyourknowledgeaboutForexbasicconceptsand varioustradingstrategiestoenteronlyhighperformance (morethan90%winningrate)trades.Manyrealtrading exampleswillguideyoutoreachthisleveloftradingskills. Moneyandriskmanagementhasbeendiscussedaroundthe very practical concept of risk/reward ratio, the only mechanismyouneedtocontrolyourtrades,minimizeyour risks,maximizeyourprofitanddotradeinaveryrelaxed andcomfortablestateofmind.AndunderPsychologyof Tradingyouwillfindthesummaryofthebestadvicesto controlyourpsychologyduringtradesandmaintainawinner mindset. MostafaAfshari August2016

  8. 1.WhatisForex? Forexistheknowledgeandartoftradingcurrenciesinaway togainsomeprofit.Inotherwords,Forexmarketisaplace wherepeoplebuyorsellcurrenciesexpectingprofit.Itis clear that we only buy when we expect the value of a currencywillriseandsellwhenweexpectitwillfall.Allthe effortsofaForextraderareinthiswaythatfindssome cluestopredicttheupwardordownwardmovementofa currencyprice. CurrenciesareusuallyrepresentedinpairswithUSdollaras the base. Major currency pairs belong to the major economical countries. EUR/USD, GBP/USD, USD/JPY, AUD/ USD,USD/CHFandUSD/CADarethemajors. 2.Profit/LossUnits(pips) Pip(orpipsinplural)standsforpointinpercent,meansone fourthdecimalinaunitofcurrency.Forexampleiftheprice (orexchangerate)ofUSD/CADgoesupfrom1.0035to1.0085 ithaschanged0.0050unitor50pips.So,ifyoubuyUSD/ CADat1.0035andsellitat1.0085youwillprofit50pips.In recentyears,onefifthdecimali.e.0.00001unit(orpipette) hasbeenusedwidelybythereferencesbutforpractical purposespipismoreconvenient. 3

  9. 3.InvestmentUnits(lots) AlotinForexmeanstheportionoftradinginvestmentin comparisonto$100,000.Forexampleifyouinvest$10,000in a trade it will be $10,000/$100,000=0.1 lot. It is very importantthatyouchooseyourtradinglotsizeaccordingto youraccountbalance.Usuallyinvesting3%upto5%ofthe totalbalanceinasingletradeisconsideredsafe. 4.GenerosityofBrokers(Leverage) OneoftheadvantagesofForexmarketthatmakesitvery attractive is that the brokers usually multiply your investmentamountineachtradeby50-500times.Thisis calledleverage.Forexampleifyouinvest$50inatradewith aleverageof100,actuallyyouwillentertothemarketwith $5,000. In this case your trade lot size will be $5,000/ $100,000=0.05,orifyouwanttotrade0.1lotatleverageof 150youshouldinvest(0.1x$100,000)/150=$66inthistrade. So, your required investment in each trade will be determinedbyyourlotsizeandtheleveragelevelofthe broker. Using the leverage offer of the broker depends on your choiceandtherearelotsofcontroversiesarounditbecause althoughyoucanmultiplyyourprofitifyouleverageyour investment,inthesametimethereisariskofagreatloss(if the currency goes in wrong direction). But to end this argumentwehavetosayifourtradingsystem(orstrategy) 4

  10. isquitereliableanditsprofit/lossratioishighwhynotuse leverageadvantage.Leverageisbadinacasewhichtherisk oflossishigherthanwin. 5.ForexCharts Forexchartsarethedrawingsofcurrencypricesinvarious timeframes.Thesearedrawninformsoflinesorcandles (bars). Candle form is traders standard and the most beneficial form for trading purpose because each single candleshowstheopening,closing,maximumandminimum ofthepriceinaspecifictimeframe.Ifacandlebodyopens atalowerandclosesatahigherpriceitiscalledbullishor longandisdrawningreen(orblue).Maximumandminimum spotpricesinthesamecandleareshownbyspikes.Ifthe priceopensinahigherandclosesinalowerpricethecandle orchartiscalledbearishorshortandisshowninred. Candle(orbar)chartsarethebestvisualtooltoanalyzea tradingopportunity.Inthisway,havingtopqualitychartsare veryimportant.Agoodchartshouldbeclear,exact(bothin pricinganddrawing)andwell-scaled.Onlyonsuchaquality chartyouwillbeabletospotprices,compare,evaluateor calculatethemorrealizethepatterns. Belowyoucanfindfourqualityonlinechartingtools.You shouldenableJavaonyourbrowsertoseethecharts. https://www.tradingview.com/e/ 5

  11. http://www.netdania.com/(gotofivestarchartundercharts tab) http://www.fxempire.com/ https://www.dukascopy.com/swiss/english/marketwatch/ charts/ Exercise1.Gotohttps://www.tradingview.com/e/andtypeEURUSD(in the top left search box), check candle forms, prices, pips and timeframes. Exercise2.Openyourtradingplatformandcheckitsavailabletradinglot sizesandleverages. Exercise3.Youwanttoriskonly$25ofyouraccountbalanceontrading. Ifyourleverageisx200,whichlotsizeshouldyoutrade? 6.TrendandReversal Ifacurrencygoesupordowncontinuallyforalongtime(a fewdaysorweeks),wesaythatitisinatrend.Trendsare caused by large scale (fundamental) economic events or factors(growth,recession,highimpactnews,etc.).Ineach tradewehavetoconsiderthetrend(whichIhavecalledit background trend effect) to increase the chance of our success.Whenatrendendsandstarttoreversewecallsuch thingareversal. 6

  12. Figure6.1Anuptrend Figure6.2Adowntrend 7

  13. Figure6.3Areversal Distinguishingatruefromafakereversalisveryimportant intrendtrading.Therearemanysimple(MovingAverage Cross,RegressionLine)oradvanced(HurstExponent,Market MeannessIndex,etc.)indicatorsandmethodsthatclaimto sensethestrengthoftrendandthetimeofpricereversal andsignalittothetraderbutafterstudyofmanyofthemI concludedthatthereisnotaholygrailmethodorindicator thattellyoupreciselyifthetrendwillcontinueorwhenthe market will reverse. They work but with a significant percentage of error because the price movement has a stochasticandheteroscedasticnatureandonlyGodexactly knowswhatwillhappeninthefuture.Also,thereisnota meaningful difference between accuracy of advanced and simplemethodsoftrendandreversalprediction.Inrealizing trendandreversal,maybeexperienceandasenseof 8

  14. intuition are more helpful. However, two very simple methodscanbeusefulandyoucanusethemtoidentifya reversalwithmediocresuccess.Inthefirstmethodyoucan drawtwoExponentialMovingAveragesforexampleEMA(9) andEMA(15).WhenthefastEMA(9)crossoverorcrossunder theslowEMA(15),itisasignofareversal.Theothermethod is using of two regression lines. In an uptrend draw a regressionlinetangenttolowerlowsandoneregression linetangenttothelatesttwohigherhighs.Ifthesetwolines crosseachotherinsomepointitcanbeapotentialreversal point and if not, the trend may probably continue. In downtrend,drawalinetangenttohigherhighsandaline tangenttothelatesttwolowerlows.Iftwolinescrosseach otherthecrosspointcanbeapotentialreversalandifnot thedowntrendmorelikelywillcontinue. Figure6.4Confirmingareversalbycrossoftwo regressionlines 9

  15. Figure6.5Confirmingareversalbycrossoftwo regressionlines Figure6.6Confirmingareversalbycrossoverofafast andaslowEMA 10

  16. PartII ForexTrading Strategies 21

  17. 22

  18. 12.ChartPatternsTradingStrategy 12.1TheMostProfitableForexChartPatterns Formanyreasons,Forexchartsusuallyformsomerepeated patterns.Ifyouworkwiththemandyoureyesaretrainedby lookingatthem,thesepatternsareverypowerfultoolsto guideyouduringyourtrades.Therearemanypatternsand eachofthemhasitsnamebuttobesimpleandshortI explainhereonlythemostprofitablepatternswhichalways workandyoucanrelyon. 12.1.1MandW(Bat)Patterns Thesearethemostfrequentchartpatternsandmoreor lesshaveMorWshape.Sometimes,onelegextendsor anotherleggetsshort. Figure12.1.1.1AW(bat)pattern 23

  19. Thesearenotveryaccuratesignalsbuttheyhelpyoutoget aroughestimationofacurrencymove. 12.1.2Triangle(WeakeningMandStrengtheningW)Patterns ContrarytoMandWpatterns,triangle(orweakeningMand strengtheningWpatterns)areveryaccuratesignals(0.8or moreprobable).AweakeningMisformedwhenanupward (bullish)moveiscompleted,thenaweakerdownwardmove (onethirdorhalfofthefirstmove)happensandthenavery weak bullish (usually one candle) comes after it. After completion of the third move you can say with a high confidencethatthecurrencypricewillsharplydrop.Thisis the place you should sell the currency and make a nice profit.StrengtheningWpatternhasjustthesamestorybut inareverseorder. Figure12.1.2.1Atrianglepattern 24

  20. Thepriceintrianglepatternsusuallyconvergestoatight rangeandthentendstobreakout.Ilovetrianglepatterns becausetheyareverystrongsignalsandnearlyalwaysare correct. Figure12.1.2.2Atrianglepattern 12.1.3Cascade(WeakeningUpwardorDownward)Patterns These are in fact upward or downward price moves that followacurvedpathandgetexhaustedduringthetime.For example,anupwardmovestartswiththreebullishcandles, then follows by one bearish candle, then two bullish and againonebearishandhenceforth.Itisobviousthatthe movegetsweakenandthentendstoreverse(amajoror minorreversaldependsonthesignificanceofsupportor resistancelevel,forexampleifaweakeningupwardcascade reachesamajorresistancelevelabigreversalishighly 25

  21. Figure12.1.7.3Adoublebottompattern Exercise6.Gotohttps://www.tradingview.com/e/anddrawafewmajor currencychartsandtrytorealizeanyofthemostprofitablepatterns (triangle,cascade,headandshoulders). 13.PriceRejectionTradingStrategy As I said before, candles are the most beneficial visual presentationofthecurrencyprices.Therearetwotypesof candles.A.FullbodycandlesandB.Pinbars.Afullbody candleisacandlethatopensexactlyatthebeginningofa timeframeandclosesattheendofthatsametimeframe. So, the candle has a full body without any pin and its maximumandminimumpricesarethesameasitsopening andclosingprices. 33

  22. Acandlewithamaximumorminimumpricediffersfromits openingorclosingpriceisapinbar.Apinbarmayhaveonly onepinatitsheadortailortwopinsatbothsides.Pinbars areveryinformativeandshowtheunderlyingactingforces ontheprice.Whenaheadpinbarformsinaresistancezone itmeansthatthemaximumpricehasbeenrejectedbythe market.Atallerpinmeansastrongerpricerejectionbythe market.So,appearanceofheadpinbarsinresistancezone tellsusthatthecurrencypairisoverpricedandhaspassed itseconomicpotentialandhenceareversalisontheway. Justthereversescenarioistruefortailpinbarsinasupport zone. Note that we may see pins in a time frame (for example4-hourchart)butcan'tseetheminanothertime frame(forexample1-hourchart).So,weshouldalwaysshift betweendifferenttimeframes(1,2,3and4hours)tocheckif thereisanypinornot. Imaginepinsasforcesthatpushthepriceupordownand giveitamomentum.Tallerpinscausestrongerforcesand givethepriceabiggermomentum.Besidesotherfactors (includingcurrentpricedistancefrommovingaverage),the lengthandnumberofpinscangiveusanestimationofprice momentum and how far it may go because of this momentum(toreachthefirst,secondoreventhirdnearest support or resistance level). This largely helps us in determiningthetakeprofittarget(seechapter21). Sometimestherearetwoormoreconsecutiveheadpinbars inresistancezone.Formingsuchpatternisaveryreliable signalthatthepricewillnotremaininthatlevelandwill drop. 34

  23. Figure13.1Astrongpricerejectionatresistancelevel Justthesame,formingmorethanonetailpinbarinsupport zoneisastrongsignalthatthepricehasabigpotentialto rise. Figure13.2Consecutivepricerejection 35

  24. Figure14.1.2Acorrelationtradingopportunity Figure14.1.3Acorrelationtradingopportunity 41

  25. Figure15.2Volume-priceanalysistrading Ontheabovepicture,arrow1showsashortbarbutthe volumespikesignalstheendofthedownwardmoveand dominanceofthebuyers.Asyousee,alongmovestarts immediately. Arrow 2 shows a short head pin bar. The relevantvolumespikesignalsthatsellershavetakenoverat higherhighandthenextshortmoveisconfirmed.Arrow3 anditsvolumespikeindicatesthedominanceofthebuyers at support level (lower low) and hence a long move is expected (that has already happened). Arrow 4 shows an eveningstarpinbaratresistancelevel.Thespikeinformsus thatashortmoveisontheway. Exercise10.OnhistoricalForexchartsactivatevolumeindicatorandfind somevolumespikes.Trytointerpretthepricechangesinrelationwith thevolumespikes. 44

  26. 16.LongTerm(Daily,Weekly,Monthly)TradingStrategy Ifyoucannotordon’twanttositinfrontofyourlaptopor desktopscreenalldaylongandmonitorshortterm(1Hor 4H)charts,orshorttermtradingdoesnotfityourlifestyle,a substitute is to trade on daily, weekly or even monthly charts.Thisstyleoftradinggivesyouthispossibilitytoset your target price far enough from the current price and leaveyourtradingroomforhoursordays. Anotherbigbenefitoflongtermtradingisthatcontraryto shortterm(1Hand4H)tradingthatyouhavetoanalyzethe marketinjustafewminutesandtakeyourdecision,inlong termtradingyouhavehours(indailytrading)anddays(in weekly and monthly trading) to thoroughly analyze the marketandfullycontemplateaboutyoutradingdecision.I reallylovethisanticipationtimebecausemakemeableto takethebesttradingdecisionrelaxedandfreefromany psychologicalpressure(thatisasignificantfactorintaking wrongtradingdecisions). However,inlongtermtradingtherulesarejustthesameas short term trading. Chart patterns, price rejection and volumeanalysisareusedjustastheshorttermanalysis.In longtermtradingyouhavetotrainyoureyestodetectthe best, high probable patterns by watching the charts. This practice is also required for price rejection and volume- price-analysis strategies (for details of these strategies consultwithchapters13and15).Lookatbelowtypicallong termtradingexamplestogetsomeideas. 45

  27. Figure16.1Alongterm(daily)tradingopportunity Figure16.2Alongterm(daily)tradingopportunity 46

  28. Figure17.2.1Traderssentimentasaleadingsignal Figure17.2.2Asentimenttradingopportunity 54

  29. Now,wecantriggerashorttrade(stoplossat0.7675and takeprofitat0.7625)minutesbeforethenewsreleaseor openastoplossorder(withthesameSLandTPtargets)and waitfortheresultofourtrade.Onthepictures,tradeentry pointisshownbyyellowarrow. 19.4MyRemarksonNewsTrading Allinall,newstradingisanaggressivetypeoftradingandI advise you to avoid it if you are a Forex novice or your tradingaccountbalanceisnothighenough.Forexample, thosewhohavestartedForexinthepastfewmonthsor thosewhohavestartedby$100or$200shouldavoidthis type of trading. News trading is more suitable for experiencedtradersandbigaccountsizes.Iadviseamateurs to stick to the low risk, more stress free proven trading strategies(thatIhaveexplainedinthepreviouschapters)to graduallyincreasetheirknowledge,skillsandindeedtheir account size. If you have free time you can start news trading(indemoaccounts)accordingtomystrategytolearn thetweaksandtricks.Afteracquiringnecessaryskillsand confidence,youcancautiouslystartthistypeoftradingin realaccounts(followingthestrictrulesanddoingsmalllot sizetrades)tobecomeanewstrader. AlthoughtraditionalForextradingisquiteadequateforyou to reach your financial desires, news trading is another optionforyoutochoose.However,youarenotforcedtodo it.Lookatitasanadditionaloptionandifyoufoundita comfortabletradingstyle,tryitandenjoy. 66

  30. 7. Sometimes the market doesn’t offer you any trading opportunityforafewhours.Inthesecasesdonothingand wait.Patienceisakeyfactorintrading.Bearinyourmind that you cannot stimulate or manipulate the market to create a trading opportunity. The only qualified entity to signalyoutheperfecttradingmomentsisthemarket.Just waituntilthemarketcallyouforatrade. Figure23.1Apre-tradechecklistcard 80

  31. 24.PsychologyofTrading Excitementsandpsychologyhaveabigimpactontrader’s performance. There are many traders that simply fail becausetheycan'tcontroltheirexcitementsduringtrades. But,asIhaveamottothat“everyaveragepersoncando Forex successfully”, I'm sure that by training, using right trading strategies, right money and risk management methodsandfollowingasolidtradingplan,allthebadhabits andpsychologicalobstaclescanbeovercome. Havingatradingstrategyfittoyourpersonality,lifestyleand dailyhabits(astrategythatyoufeelcomfortablewith)isa keyfactortocontrolyourpsychologyandexcitementsduring trades.ThemainreasonthatIhaveintroducedacollection ofvariousstrategiesinthisbookistogivethetraderavast optiontochoosehis/herbestsuitedone(s).Apracticallyhigh winning rate strategy is the first step to boost your confidenceanddecreaseyourtradingstress. Stress comes from uncertainty. More uncertain you are abouttheoutcomeofanevent,morestressfulandpanicyou willbe.So,ifyoucangetassured(tosomegoodextent) aboutyourtrade,yourstresswilldramaticallylessenand you can control your psychology during the trade. My emphasisontheaccuracyofthetradingstrategiescomes fromthisfactthatIthinkitisaverysignificantfactorthat youcanrelyontoovercomethestressoftrading. 81

  32. The second step toward controlling your psychology in tradingisasimple,soundriskmanagementplan.Inchapter 21Iurgethetradertosetthebeststoplossandtakeprofit targetsandcalculaterisk/rewardratioofanysoughttrade beforeenteringit.Ifyouknowthatyourmoneyandtradeis underfullcontrol,thereisnotanyreasontobestressfulor panic. To give this a 100% practical usability I highly recommend you to prepare a pre-trade checklist (see chapter23)andwritedownthefullanalysisofyourtrade (includingthestrategiesorsignalsused,stoplossandtake profittargets,risk/rewardratio,psychologicalmood,etc.).In fact,theaimofthispracticeistotransfertradingprocess from mind to paper and from a psychological to a mechanicalstate.Asmuchasyoucandetachyourexpected tradefromyourmind(andhencepsychology)anddoapre- trade on paper, you will be able to make more realistic tradingdecisions. Alwaysbearinyourmindthatthemarketisaseparatething fromyourmind.Sittinginaconfinedplaceinfrontofyour computermaymisleadyouthatthemarketactsaccordingto your wish and desire but this is completely wrong. The outsideworldactsonitslawsineffectofmanyrealfactors that are absolutely not under your control. Some novice traders make this big mistake and trade without realistic analysistoooptimistictosucceed.Apositivemindsetneeds for successful trading but don't forget that only doing accurate, realistic analysis you will reach your goals. You decideonthemarket,notthemarketactonyourwishor desire. 82

  33. What you read is a free sample of “The Ultimate Forex Trading System-Unbeatable Strategy To Place 92% Winning Trades.” You Can Download This Book Here You Can Download This Book Here: :