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Discussion in 'Complete Trading Education- Forex Military School' started by Administrator, Apr 19, 2011.
Please use this thread for questions, answers, and comments on this lesson.
Chaper 5 Part Vii
Great revelations indeed. Good recommendations that should be properly considered by potential successful traders. Thanks Sive.
Thanks Sive and Felix for these rules.
Thanks guys for great rules, highly recommended
These are just hints, we will discuss it with high details in later chapters, closer to an end of the course.
Yes, the psychologically aspects of successfully trading the forex is almost never taken in account by novice-newbie-wannabe traders.
I remember very well when I first started out and would simply checked for all currencies pair and metals that have charts showing that previous day's movement have gone way up. I would short trades and leave TP at the previous day's low. Sometimes it works, but some losses can become massive and wipes out my account(s) literally overnight....and I didn't bother to find out the reason(s) for those market movements. For me then, it was a very simple "Buy" or "Sell" with preset TP.
It is only the past couple months that I have really gone more in-depth into what moves the forex market and I am beginning to understand....it's a lot of hard research work and consume a lot of my available daily free time, but I am beginning to see, and believe, that it's well worth the efforts & time.
"....That’s why the amount of unsuccessful traders should be bigger, because there should be enough of money to feed these big sharks. Our major task is to join the sharks and not become their food...."
So, since we small traders are not the sharks, we have to be their companion the "Remora and Pilot/Cobia" fish and, just like these fishes, feed off/capitalize on the scraps from these feeding sharks
Good, very good info!
Sive, I've noticed you had quotes in Russian (months) a while ago in the other post, are you Russian/Slavic origin?
Thanks for this course. How I wish I had joined FPA earlier!
Thanks Sive its very informative for newbies ...