If you are attracted to Day Trading then you need a system that allows you to know very clearly where to get in, where to put your stop loss and where to exit plus what type of return you are going to get from each trade. trading channels as I teach in this video is the best way of doing that I have found.
If you haven’t committed to your trading yet, now is a great time to do so as we are stuck at home with lots of uncertainty about the future. One thing we do know is that volatile markets present great trading opportunities and while other business models are suffering forex trading is showing it is a recession-proof opportunity IF you do it right. In the upcoming videos, I will point out fantastic low-risk high reward trading opportunities.
In this video I show you a few different ways to use this free too to make better trading decisions, there are lots more though, so use your creativity to come up with good ways to use this tool.
In this video I show one of my topics which I am adding to my Trading Success Course-The course is being updated and improved to provide a complete resource for traders to improve their trading mindset.
I recently wrote a new book in the ‘Trading Psychology Made Easy’ series to address the No. 1 trading issue faced by the majority of my readers and students. You can check out the Kindle version here.
The results of the survey are in and by far the biggest problem was not being patient enough, hopefully this video will help.
Watch out for my next posts in response to reader answers.
Sometimes I get the feeling that I am just repeating myself showing 10xroi videos because the setups are doing the same thing again and again, but that is what trading is like, doing the same things again and again and doing them well. Enjoy…
My new trading psychology books is out new and comes with a FREE six-part video series on trader-psychology I recorded a while back
you can grab it Here now for only $0.99.
“A quick update since starting your course.I’m going through the initial 10 x ROi again as I didn’t manage to nail it down the first time. I have been struggling to identify which candle would be number one as a push pull and why.”
Hi LR
Just wanted to give you a heads-up on the trades I’ve taken over last 2 weeks (since 19/11/15) – 1002 pips – with very good ROI. Yep, I think it’s working ?
Like This Post? Click Me Now! One hidden benefit of a high ROI trading system over a high Probability trading system is that you don’t need to be the best trader in the world to make money. Some time ago…
I was looking at a trade yesterday to see what was happening to the markets around the time of the CHF announcment which removed the 1.2 level which the Swiss had been defending for the past three years. Here is a short video below showing what i found.
For traders who like to listen to books rather than read them, Control Your Inner Trader is now in Audio Book Format on Amazon Click Here For More Info..
I noticed this article about this Kid who was supposed to have made $72 Million trading the stock market. There is a lot of debate whether the boy Mohammed Islam actaully made that money although the latest news seems to be that he has made 8 figures, who knows? http://www.cnbc.com/id/102269980
Anyway the thing that I found really impressive was the http://leadersinvestmentclub.com/the-team/, (the members have banned Mohammed for misleading the public, the plot thickens),none of these guys are over 25, amazing!
What is it about young people that enables them to suceed, maybe they know no fear? maybe they don’t have all the baggage of years holding them back. In any case check out the site it’s interesting!
In this video I address a query from one of my readers about his Eur/Usd trading. Should you only stick to one pair? I answer in the video.(See the updated video in the other video I have posted below)
I have just released the book Market Rhythms :Learn How to Read and Profit From the Price Rhythms of the Market
Only $2.99 on Amazon. This book will teach you how to understand market rhythms and how to integrate them into your trading. Market rhythm is applicable whatever time frame, trading instrument or trading system you use and will help you both increase profits and just as important, reduce losses!
This book was created because there is very little usable information available on market rhythms and how they affect your trading and yet it is a vital part of any trading decision that you make. Market rhythms apply to the movement of the market, candle patterns and chart patterns.
Price action does not form in a vacuum; there are transitions from one type of price action to another. The market tends to form rhythmic price action which then transitions through to non-rhythmic price action. By understanding what the market is telling you, you can make better trading decisions.
I have just released my new eBook which is a short and to the point guide showing how to catch the big Moves in the Forex Market Click here to check it out.
I don’t use indicators apart from moving averages to ‘see’momentum, however I did used to use a slow stochastic and it can be a very useful addition to your trading armoury to get a snap shot into the future.
Here is a trade I took today which could have been a swing trade on the Eur/Usd but instead I took it as a five minute scalp trade. It is interesting to see how precise patterns can be on the smaller time frames, which can help you tap into the momentum of the higher time frames which helps get to take profit more quickly and with higher certainty.
Here is a video showing how you can often avoid false breakouts by extending your technical analysis from the obvious using different higher time frames and shrinking out the charts.
I know that there are a lot of difficulties in becoming a profitable trader, but there are a lot of difficulties in running any business profitably and in my other business ventures I am experiencing some of these difficulties at the moment. When these issues come up it hits me what great advantages there are in trading as a business compared to other businesses and in case anyone apart from myself needed reminding, I thought I’d just do a quick list here.
1. Easy to scale.. you can start with a tiny account and test out your system..if you lose money you have only lost a little but if you find a winning strategy you can scale more or less as big as you like. In other businesses this is much harder and if it is possible can require a large investment in marketing.
2. No customers,no employees,no employer,no office politics..in other words not having to deal with people who do your head in.
3. Time freedom, even if you dont make a huge living trading you can work hours that suit you, if you only want to work three days a week you can, if you only want to check charts at the end of the day you can, bringing your work time down to two hours or less per week!
4. Your risk is quantified, when you start up a business where you may have to invest in premises,stock,staff etc, you have no real idea what your risk is going to be, in trading you know.
5. No competition,in other types of business you always have the competition coming up behind you to try and grab your business, in trading you always have a market however many traders there are. It makes no difference how many traders flood the market as regards how profitable you can be.
6.No expenses except your trading account and maybe a trading platform, most businesses require outlay.
I know this is a very short list and there are probably a lot more advantages to trading but for me these are the main ones.
Using only one chart to finetune a 10XROI trade on the AudJpy this month, going from the Monthly all the way to the 5 minute chart to get a great low risk entry.
Getting out of your own way in trading, great and short Ted talk on how to train your brain to ‘Get Out of Your Own Way’. The reason trading is so hard is not the technical side of trading but our brain stops us being in flow and doing what we know we should do.
In my last video post I talked about my 1-3 ROI trade on the Aud/Chf and talked about why I exited the trade. However I kept an eye on the pair and after much sideways movement at that four houly trend line area it eventually broke. I then entered on the 15 minute time frame and have just exited at the 0.8600 level.
Todays trade was a four hourly parabolic reversal on the Aud/Chf (I don’t normally trade this pair but the entry was so good I want for it. Enjoy the video.
I normally try and avoid news announcements but sometimes when a great trade is lining up with the news you have to make a decision. In this video I go through my thinking and show you my trading chart.
I found this GBP/JPY trade today which gave me an easy1-3 ROI, I forgot to put in the video that I took the trade at 1.30 about an hour and a half before the Cad Interest Rate announcement, however I did some research and it looked like there were no suprises dueplus I moved my SL to break even just before it hit.
Price action is livening up at the end of the summer and we are starting to see some good swing opportunities. Here is a Eur/Jpy trade with multiple time frame entries. Enjoy!
