The Market is Never Wrong

Fear and Greed are the two emotions that have been a detriment to mankind.   It is written about again and again.  Yet it still exists.  And even if you control it today, it will lurk it's ugly head again perhaps tomorrow, like those pesky ants that just keep on popping up.  Mosquitos that never seem to stop breeding.

Fear and Greed are alive and well and producing spawn time and time again.   All you can do is keep your emotions in check.  Fight the temptation.  Like on a Friday when your Forex Account has a big fat positive balance.  And you have this urge to trade again.  Out of fear that you will miss out.  Out of greed because you want more.  And out of ego because you have been "right" so many times already this week.

Don't do it.   Just stay away.  Once you go negative then Fear will feed on you.   It can mess with your psychology.  Create doubt.  The fear will grow.  Your natural defense mechanism will kick in and you will want to fight the good fight.  You're right. The market is wrong.  Guess what.

The Market is NEVER Wrong!

Do yourself a favor and just sit out some trades.  It's better to be right and watch then to enter and be wrong.   Already in a bad trade?  Be honest with yourself.  Suck it up.  It's better to stop out now then to weather a loss 5 or 10 times of your current loss.   Do your trend analysis.  Analyze just how bad the situation is.  Go to a smaller time frame and look for exit and entry points.  Maybe stop out and reverse your trade.  Or just wait until the next entry point.    Just know that the market is right. You are wrong.  And if you're in the plus that means like the force, "The Market is With You".

 



Passion

When it comes to life, to relationships, business, and yes, surprise surprise, the Forex Market and Day Trading you need passion.  You need drive.  If you don't have it, you better get it back, quickly.

A lot of traders and wanna-be-traders fail because they lose their passion.  They start throwing up their hands, look to lay blame saying "It's not working".   When in fact the only thing that changed is the passion.  The passion to learn the market, understand the market, and the passion to fine tune your strategy or look for a new strategy all together. 

If you have lost the passion then you better sit back and analyze what happened.  Why were you passionate before?  What has changed?  Go back to the roots and start reviving that passion.  In relationships you can seek counseling or start by dating again.   In the forex market you either find someone that can help and coach you through it or you figure it out on your own and retrace your steps.

Forex New Year Resolutions for 2014

With the New Year come New Years Resolutions.  You know, that to do list for the first couple weeks in January that collects dust for the rest of the year.

Happy New Year

from Trang, Thailand

Don't fall into the same trap this year, you know the "I make good trades but occasionally I make some bad ones and they wipe out my account" trap.  Just had lunch with someone that is in denial about his trading.  I hear it far too often.   Guess what, you are a bad trader.  The good news is I can help!

It is easy to be overconfident after a few good trades.  Just like it's easy to drive your car around the parking lot when you're learning to drive.  I'm sure you have friend that say "I'm a good driver" and you know they "occasionally have accidents".  Guess what, they are bad drivers.

This year, do yourself a favor and be honest with yourself, get a coach that can fine tune your trading. Just like a golf swing that needs tuning.   Don't be that golf hack that "is a good golfer", doesn't need coaching, and ends up with a lousy score time and time again when hitting a few rough spots.

Happy New Year, and stay out of the rough!

Happy Traders make the Best Traders

Happiness goes a long way.  If you have ever been to Thailand you will see many smiley happy people.  Furthermore people will be generally relaxed in situations that would result in unhappy and angry people in Western culture.

Take driving for example, you are constantly swerving in and out of traffic, have oncoming traffic going the wrong way, people "cut you off", traffic signs are often ignored, and yet there is this calmness.   "cutting someone off" is even the wrong expression here in Thailand.  It's not that you are being cut off or cutting someone off, it's simply traffic.  No negative thought goes into the situation.   Whereas in Western countries one would be angry, shout, signal obscenities, and blood pressure would surely boil.   Here in Thailand it just is not so.  It's not interpreted as a negative, therefor there is not negativity bouncing back.

There is a saying that a man's character is determined in times of adversity.  One goes as far as to say that if you can find humour in a bad situation you have conquered the bad situation.

My dad always said smile and make everyone wonder what you're so happy about.
In Yoga the instructor will tell you to smile in the most difficult positions. 
In Boxing you will actually feel less pain or no pain if you smile.

Happiness is not just your path in life, but it is your path to successful Forex Trading.  If you are unhappy you are likely to react with your emotions.   And fellas, that goes especially for all you men, and less so for the ladies.  The funny thing is that man will have less emotion than a woman, however when it comes to money, men will experience more emotion than women.  And not that we don't have feelings, for example we feel hungry, haha. But seriously now if you are happy you are going to be able to stay cool and make coherent trading decisions opposed to emotional trading decisions.

Reacquaint yourself with the obvious choice

So here I am on my 2013 Europa Tour, having just visited Moscow and Prague, I'm on my way to Milan Italy.  The last time I was in Italy, in Venice to be exact was when I was 18 years young, with my father.  Now that I think about it, it was one of the best  trips.  Great weather, warm friendly people, great food, and beautiful Italian girls with smiles a young man would dream about at night.  Here I am many years later and I suddenly realize that Italy is one of those places I should have and must visit more.

 

 

      

 

The language sounds like music, and people speak with pleasant emotions.   And I dont remember an Italian ever getting mad, upset,  or being rude or disrespectful.  I'm sure those Italians exist but overall I can only recall pleasant memories of Italy.   Milan was a nice re-introduction to Italy and after a quick day of sight seeing I was off to Rome.   Great history and culture. Reminds me of my hometown, a former Roman town (Vindebona) now called Vienna.  It was sold to the Habsburgs hundreds of years ago and while uniquely Viennese and Austrian, Roman influences and history prevails in Vienna also.

But Italy... I could live here.     Warm weather, great food, friendly people.   A language that I will have to learn, perhaps next year I will stay here for a couple months in summer.

When it comes to currency trading the Forex Market you can also find yourself rediscovering a strategy or system that worked gangbusters.   Then you wonder, why didn't I do this sooner...    Lesson learnt is that sometimes you have to do a review of your tradidng progress and revisit what has an has not worked.   The best approach to more profitable trades is often to revisit ones past and learn from your mistakes and successes.  In other words, don't get stuck.  Get out there, start exploring.

Russia Privjet

Some days it's great  be trading the Forex market.  Actually make that most days.  Lets face it, if you are consistently making profits and can trade for a living then you have one of those jobs that you enjoy waking up to.  Except it's not a job.  It's freedom.  Freedom to travel anywhere, do anything.

I was going to travel to Europe this year and go back to my roots to Vienna Austria where I was born and raised but then I ended up moving to Thailand and thought I'd delay.  Well what can I say, I just couldn't wait and why not do both?    So after a few successful trades I had made my "vacation" money to go to Europe and I started shopping for a flight.   Turns out Aeroflot had the best deals and since I was connecting in Moscow anywayI decided to stay there for 3 days to check it out.

I have to say I was pleasantly surprised by Moscow.  It was European (moreso than "Russian") and embedded a powerful image of Russia into my memories.   A great city, lots of great sites, and more importantly I now have an insight into Russia.  It's true what they say...

The only thing you buy that makes you richer, is travel!

You can read and hear all about a place, a nation, people, but there is no substitute to travel and experiencing another culture for yourself.

 

All pictures taken by me :)

The same goes for the Forex Market.  You can read all you want.  Study all you want.  Hear all you want from other traders.  Make or break that demo account all you want.   But nothing prepares you for the real world until you are using real money.

80% of traders break their real account in the first month,

The other 20% do okay and very few of those do great.

Can you guess which traders do the best?

The ones that take on  a coach to show them the ropes and give them real feedback.  Unbiased feedback.

When you want to explore another country you go there, you get yourself a tourguide, a local that knows the lay of the land and can give you a unique insight and perspective in just a few hours.  Try it on your own and you'll end up spending days missing out on the real world.

Do yourself a favor, get yourself a Forex Coach and start trading the markets feeling comfortable you have the support and guidance you need to survive the Forex Market.

Forex Day Trading Course

Before you Waste Another Cent
on Day Trading Seminars
that do not work

READ THIS

If you are looking to learn day trading, and how to make money from the Forex (Currency) Markets, then this is your opportunity to learn day trading from someone that has been at it for over 5 years.

"Give me just one hour of your time

and I GUARANTEE you will make more profitable trades!"

My program is simple: Hands On Personalized Training and unlimited support, for an entire year!

All this for only $1500.00. Compare to most half day seminars that cost more and leave you with more questions than answers.

FAQ
Q. If you're a successful trader, why charge for the course?
A. My time is valuable and a free course is under appreciated.

Q. Why not make money of the markets instead?
A. I teach for fun. Trading can be solitary, plus I only need 1 or 2 trades per day.  Quite frankly I'm good at teaching and like making new friends.

Q. I don't have any money. How about I pay you back after I make the money from the markets?
A. I only deal with people that are serious about trading. Nothing good is ever free in life and comes at a cost. If you're looking for a get quick rich scheme, move on.

Q. How much money can I make?
A. How long is a piece of string? Your performance depends on you.

Q. Can you give me stock tips?
A. No. I trade Forex aka Currency Trading. It's far more profitable and easier to master.

Q. Can you guarantee me that I will make money?
A. No. Your performance depends on you. This is not a get rich quick scheme.

Q. Why haven't I heard of you?
A. I'm not after fame. I simply trade for a living.

Q. How many students do you take on?
A. Only one per month as my trading and life style keeps me busy.

Q. Where does the course take place?
A.  Over the internet, in the comfort of your home. Or live in Phuket, Thailand.

Q. How do we start?
A. Use the contact form and tell me why I should take you on as a student.

Welcome to my Forex Blog

Welcome... This blog is inspired by Anthony Bourdain.   As he says, I travel, I write, I eat, and I'm hungry for more.  That pretty much covers it.  Plus I day trade the Forex Market!  Currencies, not stocks.

A little about me.... After a long career as a management consultant, business analyst, and business coach for 20+ years, plus over 5 years experience day trading, it was time for a lifestyle change to focus on the things I enjoy the most.   Playing sports, keeping fit and healthy, eating good food, a warm climate, and working a few hours a day, in the evening when my brain is switched on.

The answer after many years of searching was Thailand.  Great time zone.  Affordable living. Great culture, food, people. And my favorite sports, Badminton and Boxing.

Best thing I have ever done.

Happy Pipping!