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    High Profit Approach to Forex Trading
    High Profit Approach to Forex Trading
    High Profit Approach to Forex Trading
    Ebook100 pages1 hour

    High Profit Approach to Forex Trading

    By J. Chavos

    ()

    Read preview

    About this ebook

    High Profit Approach to Forex Trading details a lot of what Forex traders need to know right away to be able to make disciplined decisions, real money and high profits right away. High Profit Approach to Forex Trading tells you how you can turn the tables on the smart money and begin to make money off their dirty work and also tell you how to see your competition and who they are. It is completely up to you to learn how to do this business the right way, will you?

    You can use this book and the references, suggestions and tips in it to go further into your educational studies of the markets and there dynamics. Knowing market dynamics is going to be critical for you to have the winning edge you will need to be a successful market participant. By studying what High Profit Approach to Forex Trading suggests you will not become one of the 97% of the sheeple of the herd, and also how and where you can get more information to build a winning edge against your competition.

    You are the only one making you do this business so don't you owe it to yourself to study the right information and to use the best techniques you can? The alternative of not using the right techniques from the start is your trading account will get FUBAR and no one wants that now right? By following the advice and information in High Profit Approach to Forex Trading you can greatly cut down the long learning curve there is in this business and put yourself on the fast track to making an unlimited income for yourself from anywhere in the world. That's the best business in the world to be in isn't it?

    LanguageEnglish
    PublisherJ. Chavos
    Release dateOct 3, 2018
    ISBN9781540154316
    High Profit Approach to Forex Trading

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      Book preview

      High Profit Approach to Forex Trading - J. Chavos

      High Profit Approach to Forex Trading

      10 No Stress Ways to Trade Forex

      By J. Chavos

      Copyright 2018

      Do you want to win, be right or make money?

      Mixing emotions with money-based decisions as a beginner is usually a plan for disaster! I ask people who come to me for help if they want to be a winner and be right all the time or be a money maker. Unfortunately, too many brand new traders think that being right is more important than making money, I beg to differ and you’re crazy if you look at it any other way in this business.

      Trading success is not just about winning and losing individual trades, it is about making money over time and actually keeping it; you must look at the big picture to become successful and think in long term time horizons. It is a common known fact among professional traders that risk/reward ratio, not winning percentage, is the real key to becoming profitable and sustaining a career as a trader for the long term.

      I tell brand new traders they must think in terms of probabilities, and get it ingrained into the subconscious of their trading mind. They must be able to ultimately eliminate emotions for every single trade they place. This may perhaps be the most difficult aspect of becoming a true professional trader, but a trait that one simply must have to stand any chance of survival—both financially, and psychologically. What seems perfectly logical to do in our minds may not work quite the same in the live market using real money.

      Most brand new traders think that they have to win all the time because that is what they are conditioned to think right from the start in this business. As someone once said in a movie thaaaaaths not entirely true! Being a professional trader means that you actually will have some unfavorable outcomes in the market and you are OK with it. I have a positive outcome maybe 40% of the time however I make a double bottom oil tanker full of money from that positive outcome, so much so that the other 60% of the time doesn’t cost me a lot because part of my plan is to know how much I will potentially lose before I take the position and all of my trading is done by my smart plan so the margin of error is quite small because everything I do is already known before any action is taken.

      If you have followed your rule based plan everything is known before you click the mouse to place the position in the market. You know what you are risking as your stop to gain your profit target; all of that information is given to you on the chart. It is your job as the professional trader to figure out the signals that allow you to identify, quantify and execute low risk high probability and quality trading opportunities. Once the opportunity to acquire a position arises you must be decisive and act without hesitation. You should already have determined what your entry; stop loss and profit target will be before taking the position, if it does not meet your criteria then just pass and reassess. Here is a huge tip I can give you right now, sometimes the best action in trading is inaction, you don’t need to be in a position at all times and if the criteria of your rule based plan is not present in the market there is nothing for you to do until it is.

      It is very important to develop discipline and have a mindset that is psychologically strong and unwavering for working in the live market. Retail investors and traders do not take the needed time to develop such a mentality and can also get too comfortable trading demo and they also get themselves into a lot of trouble because they are trying to see things that just aren’t there, don’t be that trader.

      Demo trading is not some video game. Demo trading is only good for learning your chosen platform for live trading and I highly suggest learning your platform trying out your trading plan to make sure it works and then going right into the live market to try it out with real money. You should do this with a very small amount of money to start off. You can start trading micro Forex for around $500 if you find the right broker.

      <<<>>><<<>>>

      Table of Contents

      Do you want to win, be right or make money?

      Always follow the smart money - they know where the money is at

      Money management is your best friend in the Forex trading business

      Trade Forex with a rule based plan designed by you not someone else

      Lose that ego of yours - it will only get you broke

      Develop a "smart plan" for trading Forex then stick to it

      Overcome over trading on demo NOT in the live market

      Only use advanced price action analysis and probability boosters when trading Forex

      You need to always look at the bigger picture

      What is VAR value area recognition?

      Trade a clean uncluttered chart at all times

      Bonus chapters

      3 things that will help you win more trades – large PM, correlation, confluence in signals

      This is a brutally absurd business you’ve gotten yourself involved with

      My final advice to new beginner Forex traders

      Extra links

      Glossary

      Disclaimer

      Always follow the smart money - they know where the money is at

      The road to consistent profitability and (the front door of your bank) is traveled down the path of least resistance; the smart money shows you the way on the price chart so why not just let them take the lead down the path? It is said that it takes 10,000 hours of reading charts to be able to get consistently profitable as a retail trader, why not cut down that time and learn to let the smart money do all the dirty work.

      Using your charts to know where price turns are going to happen is a function of price and time, and also supply and demand. Study supply and demand trading, and you will have the information you need to make critical decisions required to make money in the live markets with the smart money, they already know this valuable information because they are the ones who control the markets.

      Do you need a crystal ball to tell you what the smart money is going to do? Everyone who invests and trades would like to have one of these, right? Well actually, you do, your crystal ball is your price chart. If you train yourself properly and get the right education and learn the right information from the start, you can use your price chart as a crystal ball to see where price is going to turn before it gets there, you will also be able to predict where it may go to with a high degree of certainty.

      I have a great idea what price is doing and where price action is going to go before it goes there with a high degree of certainty from quantifying the price action of the asset I am working in. I do this the same way every time without deviation or hesitation. When the chart tells me the information I need to know for entry I act on it with unwavering action according to my rule based plan.

      Learning to be a great investor and trader does not have to be a long, hard road trust me on this; I had to unlearn a lot of things that are of no use to anyone in the live markets. I don’t want you make those same errors. Cut down your learning curve so that you can start making real money right from the start of your new investing and trading business. Here is a huge tip for you. Always follow the smart money!

      This is how I make money in the market today. I sit in the market with a resting order in the vicinity of the smart money and wait for the retail traders to make their mistakes, I should say here that I do front run the smart money which is a more advanced technique. I watch the smart money pounce on them, then hop on their back because it is very easy

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