September 10 Forecast Comments


There is much I would like to discuss this evening as being on the road changes the way one thinks and one's routine.

The Road Warrior: I don't have my usual trading environment when I am on the road, but I still have been able to make profitable trades.
Being on the road is not unlike having the responsibility of a day job. Very few have the luxury of watching charts and graphs and making trades. Trading in Forex can be a very stressful and overwhelming, and that nagging feeling of missing out on something can wrap you in cloud of anxiety. The last thing you need is this distraction at work or while on the road.

So how can you carry on with life while still exposing yourself to profitable trades?

The simplest way is determining from the get go what your trading strategy is going to be with the forecasts. I will be blunt with you. In Forex you can not be a slave to 2 masters. And the masters I am referring to is "trading strategies". You need a strategy that can accommodate your lifestyle. ( At home, work, or on the road). You do not want your lifestyle to accommodate your strategy. As a biased commentator who has been where everyone of you has been (Forex wise), I determined that I needed a plan that would fit with my lifestyle USING THE FORECASTS.

There is a huge temptation with the Forecasts. I have mentioned this many times in emails to many of you. I am supplying you with some great tools that can make you great profits, but you must use these tools wisely. Trading all the forecasts can make you a ton of money, but it can wipe you out also. How can winning forecasts do this? Well you can pummel the "you know what" out of your account by over trading.

This is why I demo concepts like "30 days to Discipline". For me it adds another level of stress as I am exposing my self to the possibility of failure. But I do feel it is important to illustrate as many strategies that I can  to show you the power of trading the Forecasts. Once I am successful I will demo another strategy building upon this discipline ground work. It may be just picking one great trade a week, or going for the same profit by doubling your lot size and going for half the pips. The Forecast offers options to accommodate everyone's lifestyle. and that is what I am hoping you will do. Pick a strategy based on practice, that not only protects your money, but your sanity.

And speaking of money, don't believe anything you read about risk reward ratios. The fact of the matter is the moment you have opened up a broker's account with REAL money you have exposed yourself to the risk of losing everything. You could have a great risk reward scenario but what happens if you have 10 or so losing trades? Or maybe you get married to a trade that you can't believe can go further south. Believe me, without a strategy that fits your lifestyle you can be one trade away from getting your account blown up.

I hope that you find that with the Forecasts you have a "Personal Technical Advisor". An advisor that is behind the scenes on your behalf analyzing over 26 markets for each currency pair and melding this data with decades of data to come up with your forecast. We won't be right all the time, but enough times to keep you ahead every month.
 
So use demos to trade the Forecasts. Determine a strategy with sound reasoning based on what you are able to devote to the Forex, and don't be in a rush. Let time be your cushion to successful trading.
 

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