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Chapter 29, Part III. Dealing Directly With Trading Plan (Finally!) Page 2

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 27, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Aug 28, 2009
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    Commander in Pips: Ok, let’s take a look at risk first. Your first thought should be – Do I have any money that I’m ready to lose, that I afford to lose? This money should be relatively free – you must not sell or put in pledge your house, car or jewelry. You must not sell down the river your wife, or a kidney. Understand? This should be sum that you afford to loose – if it will happen that you lose all this money, you should not be frustrated too much. Besides, if you will trade with money that is reserved for paying your bills or mortgage – this will be a huge psychological impact on you. You will not be able to think rationally, and constantly will be under stress. How do you think – could you win something in such conditions? This is what always happens, that market just crushes you, when you are most unprepared for that. Day by day you will see how your home, car, lunch are driven away. Next will be your wife and children. At the end you will stand without home, starving and spend your nights sleeping in the gutter. Do you want this? I guess not, but if you do – come on, put all of your hard money on Forex. Make the bet of your life.

    Pipruit: That’s absolutely horrible! I do not want it how you’ve just described!
    Commander in Pips: Oh, you’re really a smart guy to see this. Then you must apply strict money management rules (we will speak about them later) and sit with demo as long as you will need it – until you will not understand what dump you’re really diving into.
    #1 Sive Morten, Dec 27, 2013
    Lasted edited by : Oct 9, 2016
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