Four Week Forex Challenge

Dear Traders,

I have been dabbling with lot of thoughts and tweaks to the trading systems i have been using  over the past year. Slowly a decent outcome evolved in terms of signals which will help traders stay in trades for long and trade with less stress.  For 4 weeks i will be offering these signals free

I will also be providing lot of resources to learn and understand the philosophy behind consistent trading.

Anybody who has traded Forex or any other financial instrument for speculative gains would very well know that it is one of the toughest endeavors . The simple reason for that is you are dealing with Mind which is very hard to control and rein in, which does the thinking and rationalizing part and then there are emotions which are deep-rooted. Often there is a conflict between rationality and gut feel. The 2 primary emotions that drive you into and out of markets are Fear and Greed, the Twins as i call them .

The unbounded nature of free will when applied to Forex trading it leads to disaster. The Rules are often broken since the rules collide with emotions . The way, and only way, is to execute a clear plan irrespective of emotions . Practicing consistent execution, when faced with the enticement and Lure of potential unlimited money, will make successful traders out of every one over a period . Forex markets demand discipline and perseverance. People with strong opinions tend to lose in the speculative business. People with flexible attitude and obedience succeed . fear and greed in the right proportions always help you keep your account balance safe. The conundrum of speculative business is that Greed gets you IN and Fear keeps you OUT and vice versa. Hence we have to adapt our strategies to take advantage of those Twins.

Markets are always right. The outcome of any trade we take is either profitable or not but never right or wrong. Losses are a cost of trading , we have to treat it as an expense. For example in a real business you invest in fixed assets and other overheads and you have to spend money on various aspects of business to see if you would make a profit or not. Losses also are just that . That is the fundamental understanding you need to have. When we trade we take a risk and outcome could be profitable or not . The name of the game is to stay in the Game consistently. The only secret is your attitude towards trading.

When you want to trade Forex or for that matter do anything know 3 things

Know the Rules, Know the Stakes , Know When to Quit

Let us start with the 6 P’s Prior Proper Planning Prevents Poor Performance

I need to know the Rules before we engage . The lay of the land of the Markets are always controlled by many forces which are beyond any person or groups control for any sustained period. The only action we can take is to put together a trading plan, execute it and change it when necessary. It is akin to setting out on Seas and changing course when we realize we are heading in the wrong direction.

There are many schools of thought, on, which analysis is best for consistent profits in markets. Some swear by Fundamental analysis and some by technical analysis. However the truth is a nothing exists by itself and we have to have a holistic approach if we have to make and keep the money we make.

The approach we propose is KISS – Keep it simple and safe. KISS is based on 4 tenets .

* Wave theory
* Market Sentiment
* Traditional technical analysis
* Timing

We shall delve into each of those in detail with examples and then put everything together to form a strategy.  Stay tuned