High Reward Low Risk Strategies
2. welcome
We’d like to thank you so much for getting in this course. I’m very happy to be work with Jarratt. His trade of consistency about his trading let me not just want him wonder. He does the same thing over and over day and day out. I first came to know Jarratt in 2007 actually. At that time he was doing OK with his trading but just felt he needed some help. He got a little clarification on a few key issues and as a result of coaching session and also the information at a course. Jarrat is able to adapt what he learned and he made it his own. He used whole concept of trading around support and resistance with proper of trade line and a packable risk as you will see and he becomes a very consistently successful trader. And then you can like the simplicity of the method of trading the day you can learn the course. But I want to create the course with a few comments. The reason people get into this course is to make money. And unfortunately there is a lot of missing information and actually missing leading information. To get people think you know you just stay up at the computer and then start pushing your buttons and then money gets into your jacket pocket as a slot machine. Believe me I see a lot of people with exactly at that attitude. Trading requires discipline, focus, patience, detachment for being right or wrong without this, you can’t have a tough time trading. Learn always to think in terms of the probability over a serious trade; don’t get your self at the last trading you need to have a look at the next trading. You need to be ready at next trading. Stay focus on the process of the trading and then the odds take care of the wins and losses. You know one of the greatest benefit you can learn with this method is the rewards are much greater than the losses. The risks as you can see are very very small. So without saying so much we can start. I will present you the first part of this course which will be later in a very specific order. You know the first thing I’d like to talk about is the risk management, which is the most important part of trading. It’s more important than anything else. Then we will take a look at the various tools we use and Jarrat will explain in details and the entire method ology. Finally we will present the important psychological factors. Section 5 Jarrat will offer you some tricks and tips and you can find it really important helpful at this method. And then we will follow that with the Q&A section. We will present some answers to some of the most common questions regarding the method. Finally J will provide some examples you can see how the various factors line up to produce great trade opportunities. So with those further we do, let’s get started.
3. Risk management
If you are unwilling to exercise improve risk management, I’m sorry to say you are just wasting your money on this course and any other course for that matter. But I know you cannot do this matter and you truly want to see you account size grow and therefore you are willing to make risk management, the highest property in your trading, right? Right, Ok, look you are really really need to pay attention to this with no question. We talk about risk management; there are two distinct components that is money management and trade management. So let’s start with money management.
4. Money management
Money management is all about how much of your account you risk on a trade. We should talk about in terms of a percentage. It doesn’t about a list of what your account size is. For trade in this method, you should really start an account size with $5000 in a mini account. But if you don’t have enough money to start, then open a micro account, really popular these days, attend a size of mini account. So you only need to open an account of about $500, with a micro account.
The main reason that Jarratt has been able to make this excellent return is because of money management and trade management. I will talk about trade management surely. The maximum risk that he exposes his account to is only 1% of his capital. 1%, OK? Now that might seem like you know just too little amount to a lot of you. Let me ask you, if you ever completely belong another account just think about and imagine the difference if you had never allowed a loss more than 1% of your account size. You still have your account left, right? You know I mean you may have your account. This is not in mature game here.
People who try to be heroes usually be zeros. So this system depends on your using small risk in otherwise. I think it a great news because when you risk such a small amount of capital in your trade, it becomes so much easier for the psychological appoint of you, to detach yourself for the money. See a loss could never be a big deal. Now I said the method Jarratt can show you is because of his very strict risk management. You will see that he truly does cap it a lot of short and that’s the profit run and you will see exactly how this done. I can tell you I’ve never worked with a trader, who show long terms of success who didn’t have impeccable money management. OK, it’s just critical. So let’s really get clear about how we start of a trading in terms of money management and you will see it really quite simple. If you are trading in a mini account, let’s say you had a $10,000 account size, then 1% of your size would be $100, OK? That’s all we can risk. If you took a trade with 50 pips loss, because each mini lot is about $1 pip, you will be risk for $50 for every lot. You trade it, right? Since we are willing to risk $100 lot, which is 1% of your account, then you can trade a 2 lot. See $100 total risk a lot divided by $50 risks per lot, I guess it’s two lots. This is for your account risk at 1% which is fine. But remember the profit the objectives are typically no less than 2:1 on the reward to risks usually much much than that. So the very least you be looking at even100 pip profit per lot which is about 2% return. But usually the profit of objective is even bigger. Actually Jarratt tell you the average trade has a profit target about 4 times of risk is really very good. So to recap you just take 1% of your account divided by the dollars of the risk per lot and I will tell you how much loss you trade.
5. Trade management
Now Trade management is another critical aspect of proper trading and it has to do with how you handle stops once in the trade and of course where to take profits, both very important ingredients in a trading plan.
6. Stop placement
Let’s first talk about stop placement and the movement at the stop as trade goals in your favor. The general rule of an initial stop is 40 pips. The entry method show in this course is taken from an hour chart, the trailing stop is based on 15 min chart. So in a case of a short, as price move down and stop its trail about 15 pips above the most recent swing high(fractal high) Of course the opposite true for a long trade. After entry long from an 1 hour chart, as price moves up, then stops trail about 15 pips below the most recent swing low also known as a fractal low. Now look at some examples of this come up.
7. Stop Placement Example
This is an example of 15 min chart of the POUND /USD. I’ll show you the entry level which came off the one hour chart see down over here around the 1.37 area. The initial stop moves as the trade progresses. Here is the initial stop over 40 pips. I put a line about 15 pips below, the fractal loss as the price progress. Here’s a fractal low here and a swing low, 15 pips below is right here. Here’s another one of form here, 15 pips below over here and so on. The stop just continually adjusted 15 pips below the most recent fractal low. Now one very important point, the stop is never moved further away so that’s why even though the other swing lows are fractal lows, made to the right of this one with the excess is. See those are the fractals here and the fractals here. We didn’t use those because we didn’t result in a stop being further away. Another words, from this swing low; this stop is 15 pips below it. But if you use this one, we would have to put the stop down here, which just 15 pips we don’t move it further away. OK? So this process moves the stops 15 pips beneath the swing lows on the 15 min chart continuous and to either the profit target madeor price stops. In this case, the stops which are reading here, finally, and you know it still results in a very very nice profit actually from 1.37 over 1.39 with over 200 pips with the initial 40 pips risk. Pretty done nice, OK? So that’s the stop is progressed and moved up as the trade progresses. Another we will take a look at determining the profit objective.
8. Profit Objective
OK, the profit objective is 127% Fibonacci extension of the move that took you into the trade of the R&D chart. Now this should be clear for showing you examples. Take a look at the following one hour chart.
The actual entry which down here and the entry of this trade will be explained by Jarratte later on, very specificly. But from now on you just observe the entry of this trade is around 79% Fibonacci retracement, from point A up to Point B. OK? 79% Fibonacci retracement. And by the way, the blue line is the same level as the blue line right here, as the daily S1 pivot. And also we observe the Fibonacci retracement levels from A up to B, 38 and 50, 62 and so on. The S1 pivot with the blue line is also the 79% Fibonacci. The profit of objective on this trade is very simply 127% Fibonacci, extension right up here. See. So you can see the risk and reward of these trades are very good. In this case the initial risk was 40 pips but the profit of objective was 270 pips, almost 7/1. This trade didn’t quite make the 127%, reading this area over here. And before backing off, one of the backed off hit the trailing stop on the 15 min chart, but the actual profit end up about being 150 pips still well over 4:1, on the reward to risk, really excellent. So to recap, the profit objective is 127% Fibonacci extension on the 1 hour chart. And less than of course the trailing stop from the 15 min chart. Gets it first.
9 Tools
Now one of the beauties of the system as you will see it doesn’t use a lot of indicators. In fact it doesn’t use any lagging indicators. The only tools this method uses are market flow, pivots, Fibonacci levels and that’s both retracements and extensions and of course, support and resistance levels given by price itself. These support and resistance levels or key levels are also known as fractals. So you can see that along with market flow, which we will explain next, we only use tools and entailers we usually expect support or resistance.
10. Market Flow
At the beginning when I introduce this course, I said one of the keys to Jarratt’s success is that he took the information which we talked during the course session and adapted it to his own style. So in other words we say he made his own. And one of the most important tools he used is market flow.
Market Flow is a way of determining the trend without using any technical indicator just pure price. I’ll tell you what this concept will make huge difference in your trading. Let me show you how to apply this method to all of you. You can use market flow at any time for all of you but this method all of you only concern the market flow on the 4 hour chart. OK？And we only take trades in the direction of 4 hour market flow.
Market Flow is simply determined by examing the swing points on the chart, OK? And the swing Points we use are swing highs and swing lows, also known as fractals. Now let’s look at the chart here:
On this chart, I’ve marked off the fractal highs and fractal low points. I’ve indicated them with an “SH”. You see right here that’s an “SH” and “SL” for swing high and swing low. A swing high, so you just take a look at here, or a swing low is any high point on the chart that has at least two concektively lower highs proceeding. You see here it has just got three actions but it at least has two. And these two concektively lower highs following it. OK? That’s all this. And the swing lows just the opposite. Here is the swing low down here. A swing low or a fractal low just the opposite. It’s any low point on the chart that has at least two concektively higher lows proceeding it and at least two concektively higher lows following it. That’s all it. Don’t read anything else into it. Very Simple. If price is making higher swing highs and higher swing lows, the market flow is said to be up. Now in this chart that’s what’s happening most recently. Here is the most recent price action and right now the market flow is up. And we will mend up until the fractal lows that close to the current price action is broken to the down side. See once that happens, the market flows is then considered to be down. So in this case, in order for the market flows turned down at this point here, price will need to go below the most recent swing low in this uptrend and that most recent swing low is right here indicated on the chart right here. OK? Now of course the opposite is true when changing from market flow down to market flow up. If price is making lower swing lows and lower swing highs, this down here, OK? Then the market flow sent to be down. That’ s what happening I could say on the left side of this chart. If the market flow is down, it can remain down until the fractal highs is close to the current price action. It is broken to the upside. When this happens, the market flow then will be considered to be up. So let’s have a look at this. In the case here you notice the point market X here, on this big blue candle. Once it like what happens came up here, broken up the most recent swing high right here. So at that point the market flow changed to be up. We only require the wick of the candle to break the swing high. Even though the body to break up just the wick of the candle break it. To break the swing high all of the case just down. It’s going down just for the wick to break the swing low. Ok? To be going down. We only require the wick to break the swing high and swing low in all the changes of market flow. In other words, price doesn’t need actually close above or below the fractal points. OK?
Now of course one thing is very important that we never use any of these tools in isolation of other things. Market flow is just one thing. OK? Although it’s a critical piece of puzzle. What you need to do is using Market Flow on 4 hour chart to decide which direction you only had trade in on the lower timeframe one hour chart. And then we combine this information with other information such as Fib Numbers, pivots, other fractal highs and lows as you see later. It can be very very powerful.
11. Pivots
Pivots is mathematically derived potential reaction points. They are pre-calculated using prior data. They can be daily pivots, weekly pivots, monthly pivots. We also use M level pivots as well, which are the pivots between the main R level and S level pivots. The pivots calculator included in this course, you can calculated your own pivots if you don’t have access to otherwise.
Daily pivots are calculated using any 24 hours using so it could be midnight to midnight east time. Or it could be midnight to midnight GMT. These are two main pivots are used for daily pivots although some people do use 5 pm to 5 pm Eastern Time pivots. Most important thing is whatever time period you use, what you want to do is to use pivots together with other factors such as Fibbie Numbers or fractal points to find confluences of support or resistance. That’s the key.
Now Jarrat just shows you in detail when explaining the actual workings of the methodology.
To calculate the pivots, you just take the 24-hour pivots you considering. You just know the highest high and lowest low and close of that period. And pluctal numbers in the pivot calculator and that’s it. Those pivot numbers will be valid for the next trading day. And then calculate the weekly pivots you just take the weekly pivots from the open of Sunday to the close of Friday Easter Time. Know the highest high and lowest low and close at that one week period and enter those numbers in the calculator and you get the weekly pivot points for used following week.
When price is at or above the Central Pivot Point were generally considered to be in a sell zone. So we have selling buy some price is adding below the Central Pivot were generally considered to be in a buy zone and we have a buying buyers
12. Fibonacci
Fibonacci Levels are used extensively by a lot of traders. Just like anything else that we use, Fibonacci used with other tools to determine potential reactions, right? We don’t use any tools isolation. We use Fibonacci and find potential support or resistance levels and in particular levels with Fibs matching up with pivots fractal points.
Now don’t worry it seems a little confusing at first. Just make sure that you understand how the fibs are calculated and then all come together when you see the method are actually applied by Jarratt.
Now I want to you to learn Fibonacci retracements but also very interested in Fibonacci
Extensions which are explained surely. But first let’s look at the Fibonacci Support.
13.Fibonacci support
Let’s take a look at Fib support.It doesn’t matter what timeframe you are looking at.You can draw a Fib support and Ressistance lines in any chart.First you want to do is identify a wave movement in the direction that you want to trade and wave using should be previous.Let’s look at this chart,You can see here then wave from down here at point A up to Point B stand pre stands,right?Point A should be fractal low,point B should be fractal high.
Most chart offen has a two of a draw fib lines and a few doesn’t.I had to recommend you to get what you does.
Now the ways these lines are drawn you can also verify from one charting service to another so make sure that you are familiar with how your software works.You can also calculate these retracement points manually just to make sure you are using the software properly.So in other words, if you take the difference the move from point A up to point B and among pips of that take 38% of it and also track from B that with this line should inform in your software. So just make sure it works properly.
So draw these levels in, you just go from Point A to Point B. And then the various dotted lines down to here various dotted lines. They show you the Fib retracement 38.2%, 50%, 61.8% and 78.6%. We know the bodies with des modes and just simply run them off.
We will want to see if these Fib levels match up with any othre indicators of support such as pivots and fractal highs/lows. If they do match up, we have potential trading up trading.
Now these dotted line above the swing at Point B. These dotted lines appear is the point higher, Then the 127% Fib extension to the upside of the move from A up to B.
As I calculated by taking the range from A to B. The amount of pips that is multiply by 127% or 1.27 and adding it to A and that is what this line represent here.
It’s a place to espect resistant, OK? Especially when matching up with pivots and highs and lows just espect resistance here, And it just an excellent place to cover you a long point position and you’ll see you are in a long position for long here.
And later on you can see they give you a very very good reward to risk ratio. OK? And if you want to be more aggressive, hope for even bigger move for example, say old trends are are strongly up with no resistance in the way. Then you could wait and see if the price made 162% extension which is not shown in this chart, That’s a personal choice, But generally we just take the entire profit at the 127% at Fib extension level.
And be done with it, we would very very recommend you do not ever let the trade go passed this point without a list. You’ll take some profit if you are not all of it.
14. Fib Resistance
Of course drawing Fib Resistance lines just the opposite drawing support lines. The first thing we want to do is identify a wave moment in a direction that you want to trade. So if you call this discussing by a market flow. If we saw that 4 hour market flow with down then maybe looking for selling, right?
So first thing we want to do is identifying an obvious high movement and on this chart we know pretty obvious to see that price moves from the fractal appear at point A down to the fractal Point B. And you can see the various Fib Retracement levels that I can again show you these dotted lines, 38, 50, 62 and 79. And we get what wanted to do is just knowing this Fib levels line up with other indicators of resistance such as Pivots, fractal Highs and lows. And they do match up we have potential trading up opportunity. Once again here is 127% Fib extension to the down side calculated by taking a range from A down to B multiply by 127 or 1.27 as the tracktor from A and for these dotted line right here is I’ll show you, OK?
And this level is a very very good place to espect support and excellent place to cover you short position. And if you want to be more aggressive and hold it for an even bigger move because all the time frame for heading down strongly and there’s no support inside.
Fine, that’s your individual choice but you can see Jarratt generally take an entire profit at 127% Fib extension.
Like I said before, we’ll very strongly recommend you do not ever let the trade go passed this point without take at least some profit if you are not all of it.
15. Support ＆ resistances
Now understanding you have recognized the S＆R on the chart can be the most important thing and turning a trading into a consistent profitability.We also call this S&R levels as “key levels”.
Now let’s first talk about fractal highs and how they conform other S&R levels.After price makes a swing high or fractal high,and then drops back for a period of long time,that swing high was left behind become significant.If price comes back to retest that high,can you watch that carefully for the reaction?Because if the confluence of other factors at that fractal high such as Fibs and pivots all the same level and the 4 hour market flow is down then that could be a very very good selling opportunity.
16. Support ＆ resistances 2
So here is a chart of example what I’m look like and you can see price rallies up makes fractals high and drops down for some period of time and it rallies back up to retest this fractal high.This was also the same price level as pivot and Fib number and 4 hour market flow was going down.This becomes a very good place for a high reward low risk trading opportunity to sell.
Now let’s suppose that the fractal highs was formed, price dropped below shotting up streight well above this fractal high, trade it and held above it for some period of time.Then came back to retest it.In this case,this fractal high used to be resistance now becomes expected support.And again if that mathces up with pivot levels and Fib levels at the same price, excellent buy opportunity right here and give you a high reward low risk buy opportunity.So we really want to watch this levels form and how price reacts around them.
17 .Support ＆ resistances 3
Of course the opposite is true if the swing low is formed. Let’s take a look at how swing lows and fractal lows can be either S&R. So if a swing low is formed and then price rallies after that swing low and stay above for a period of time. And that low becomes a significant point to watch. See if a price come up to retest that low, you won’t see that level carefully because if it matches up with Fib and Pivots. Then maybe a very good buy opportunity, If the 4 hour market flow is up, see this fractal low is formed, price ralleis come back to retest it. Now we have a fractal low which is formed we know that is support. If it’s a pivot level and is also a fib level and the 4 hour market flow is going up. That’s a good buy opptunity right there. Now on the other hand, let’s see price formed as a fractal low rallies and then breaks below this fractal low. Just goes fly low here. And trades and holds below it, comes up and retest it. This fractal lows becomes a used to be support now because comes the resistance and is very strong if there’s a pivot here and a Fib level here. And the 4 hour market flow is heading in our direction. All things are very important to have all alined is that matter.
18. Support ＆ resistances 4
The significant point to remember about S&R levels is the key levels on the higner timeframe chart have more strangth than the lower timeframe. Ok? Very important to remember that. With the method we talked in this course, we use the key levels from the one hour chart. Then in alignment with the market flow on the 4 hour chart. OK? This is a critical element of this method trading. Doing this gives an opportunity to make a trade that’s going on the direction of the higher timeframe 4 hour chart using a confluence of a S&R given off the 1 hour chart. And on the 1 hour chart we simply looking for a swing high or swing low point from a previous day also known as fractal points to structure a trade around.
Already let’s now take a look at how these concepts are put into actual practice. Now turn over to Jarrat this time, he will show you the method in action.
19.Overview of the tradingstragegies
In section 3, I’ll go through the methodology in this bicike form. This way can be trade any currency pairs you like from the such as Europe pound,. All the such as pound yet. It’s very important you go over all the material and come up with an exactly way of trading the settle. I’ll give you some useful ways to adapt the method. Do the right way of trading but basic way that method works is follows. First of all, the trending line with 4 hour market flow I think is very important to trade in the correct overall direction. Among my faveriout timeframes direction is the 4 hour chart. So for example, if the 4 hour chart show as the market flow to be up. You are up to buy. If the 4 hour chart shows as the market flow to be down, you are up to sell. I want to have a direction then you need to draw a Fib tool from the high/ low of the precvious day to the current low/high. Doing on this gives you very solid generic way of drawing your Fibs. And nothing important we consistance a critical.
The next thing we look for is a triple conflunence of Support or resistance. These triple confluence needs to consist of a pivot point, a Fib retracement level, and a fractal of a 1 hour chart from the previous day of a trading. But don’t worry too much about from pictures in your head because on this chart the spledge point in just a minute.
I want to have your direction and your potential entry point is critical to have a stop-less . Now 40 pips of a loss will be aple on even a more volatile pairs. On the pairs, pivot points show you a pound or an Euro dollarm you could publicly get the way of a smaller stop-less 20 or 30 pips for example. But 40 pips is a good generic mound to cover all trading pairs.
Now profit targets can sometimes be difficult to come along with. But 127% Fib extension level can be a very liable level once the price is trending. It’s also very objective which against healthy consistancy.
Now as volterly you reduce the risk trade as fast as you can. But it’s also important to alow the reason retrace a few trades to breath. So trailing a stop-losses to the 15 minutes fractals can be a very effective way of reducing your risk and lacking in profit as the price approach your old target.
20.Trading In Line with 4-Hour Market Flow
So let’s look at a little bit more detail. Trading in line with 4 hour market flow. Now looking for market flows is very simple and takes almost no time at all. Now see the example here. We can see the last swing point to be broken was in fact swing high. Therefore, the market swing this pair is up.
21. Draw Fib from Previous Day High/Lows
Now let’s look drawing Fib from high or low of previous day. Now you can see here we draw the Fib from the low of the previous 24 hours worth of trading. So it’s to compus all three major trading sessions. Doing a lot of this, we will give you a very objective way to draw your Fib which again will help you to remain consistancy in your trading.
22.Trple Confluence for Entry
The next thing we need to look for is triple confluence of levels for our entry. Because market flows open for example and we are looking to buy. We want to do this from the noise area of support, Now in the chart example here, you can see that we’ve selected 1 hour fractal from previous 24 hours worth of trading. And the high to this with a thick black line. So now we’re looking at 15 minutes’ timeframe. Now you notice the Fib retracement levels we previous draw in and also the 1 hour fractal level that are marked to the thick black line. This one here. Now if you look at this levels, we can see the 1 hour fractal level is very close to the 38 point 38.2% retracement levels. Also in this area you have the pink line which is the central day of the pivot point. Now we can see our triple confluence is complete. Now it’s important to the conflunence these three things is as close together as possible. The total to the overlap is the better. Idealy, all three of these levels should not be any more from 15 pips apart.
Now we should enter your trade from your confluence. Your profit target can be set to the 127% extension level. Now in the simplified example here we can a Fib and a price tends to pull back to the retracement levels before continuing as our own regional direction. Now you can see that provide you can have a triple confluence fractals you can enter in a retracement low as one of the levels and then wait as price continue as your own and set your profit target appear at 127% extension level.
23.Trailing stops
Next we look at the trailing stops.Now in this chart we can see an example of following fractals to the profit.Now imagine if we bought in this black line as the area of support.You notice as the price moves up in your direction the retrace is back before carrying on.Now after each of these retracements,you notice a fractal is made.Then you can use these fractals to set the your stop-loss too.This is the same for long as well as shorts.It’s a good idea to place your stop-loss around 15-20 pips above or below depend on the direction of the trade.The actual fractal candle.Now this is just to give the area room.For example here,you can see these fractals come along here which came down and retested by this candle here.So if you have to stop around a candle,you probally go stop down but if you just place 15-20 pips below,you just give the price no frame to come down and retest this area before moving on loss keeping you in the trade.So we can conclusion about section.Now the best methodology and how it works.
24. The Psychological Aspect of Trading
In section 4,we’re going to take a detail look at the psychological class of the trading.Now this is the special point to new traders because the psychological class aspect of trading can be a major influence of whether you make it or not as a trader.The idea is if you now took respect,you stand in the much better chance of recongnizing these things more importantly in dealing with it. The first thing to realize is all traders including myself experiencly exactly same emotions as you and each other.The next thing you need to do is to evaluate your expectations.Make sure they really stick.Now one following thing to memory in your mind significantly regarding this type of method is to design to prevent losses from having any major impact on both you and especially your trading account and allow you to regain your composure and continue on trading consistantly to your plan.So let’s now look at each of these things and a little bit more detail.
25.All traders Experience Emotion
Because these emotions are facts so generic knowing exactly what to espect can be quite easy. Now one of the major reasons that traders fail to consistant profitabal is because after a couple of losses. They get attracted to similiarly better methods or systems. If you do this, it will only be a continue cycle, and you will struggle to gain long term success.So it’s very important not to get drawn into any coment system of chasing.
Now this is another common thing that traders experience. The stops have rational concerns that may be the method never work again. This means to a fear of taking the next trade. Now what tends to happen when you come to this fear is the trader you don’t take and be the ones you do produce the profit. This all can lead to a very fustrating experience in your trading. Now the key to avoiding all this is rationalizing the system you’re trading works.
Now one thing that can really help you to remain consistanced focused is by consistantly reviewing your trading diary and your demo account results.
Now this is the major reason that you should complete at least 20 trades demo account before going live. This experience would be valuable as you begin in live trade. If you have these thing bicole, you will find your trading to be much easier and more enjoyable experience. Now finding a community that among traders can also be a real bonus to your trading. The benefits of such things as conformation of your trades and trading methodology support during times of methods not going in your way. But most importantly being part of a community help you to stay focused to your trading plan.
Now if you surf the loss even a few losses and you can feel starting have a negative impact on you psychology. Do everything you can to take your mind of fact trade. Go for a walk, exercise or maybe even just watching TV. Whatever help you relax. Doing this will help you to keep fresh and wildly each trade you take easy did you nick and completely attached from the last all.
26. Evaluating your expectations
Next we will look at the valuating your expectations. Now many traders come to Forex thinking they can turn 5000USD into a million USD just a few short months. Or even least things to effect. Now bury in your mind the professional phone managers only earn for around 15% to 30% in a whole year. So my advice would be to keep your expectations what professionals doing loss in any both to make here in trading forums on the Internet.
Now one important thing to realize is that nobody has any kind of control over their returns each month or week. Because you never know how much profit that the market will give you. So if you espect to make a certain amount each in every single month and you don’t need your targets. This could affect thing that just confluencing your method. And then list things like a system chasing which will be covered and we can see the negative thing to your trading.
Another really important thing to realize is that no such things as “not enough” profit now many traders would safing like 60 pips of things not enough or 3% return in a month. It’s good enough. This can’t beliefs or bown of unreally espectations. The fact we realize there’s no such things as “not enough” profit. So if you find yourself thinking, try to do some research to help how professional phone managers being performing in the last few years. They should give you a good idea of what excellent returns really are.
Now following from any of that is very important not to allow expectations picked up from forums or websites to cloud reality of the situations.
Now many new traders have unreal expectations and if you all interactive to another regulaly, those espectations turns to become the major mark. And this can frustration when this cycle bench marks are never met on the consystem of basis.
The only reason that espectional traded is that you make profit over subtained period of time. Now notice there’s no definition and there’s no guarantee that you’ll make a profit daily or weekly or even monthly. So it’s pointless and call forustrating to espect those things on the regularly consistent basis. All you can do is throughly test your method once you satisfied it profitable. Trade consistantly with a very small risk. So your chance of success is as high as possible.
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