Can you beat the system ??
NO!, but you can still make great money. There is no humanly way that you can beat the system, but you can make a very comfortable and profitable living from forex. Forex has a language of it's own and in order to have a glimpse of success, you have got to learn the language. The better you master and translate the language, the more successful you become.
What is this strange language????
It is the language of the charts. It doesn't matter whether you interpret candlesticks or bars ( I have a strong preference for candles), you must learn to properly interpret this secret chart language of price action. Your charts are the only indicator that is telling you the real right now truth.
The only disadvantage to the charts that you see is that you can not see what is going on behind the scenes; but many times if you are properly interpreting your charts, you will glean clues about the possible direction of the market.
Even with the knowledge of this secret mysterious chart language of price action, you can still get tricked. It happens.
Why ?????
Because the house always has and will keep the advantage. You can only hope that your interpretation of the language of the charts will be profitable for you most of the times. If you are properly interpreting this language most of the time, you will do very, very well as long as you don't allow your losses to run forever.
Even after some traders become fluent in this price action language, they allow their losses to run and cut their profits short. THIS IS BACKWARDS and WRONG. The profits are suppose to run and the losers are suppose to be cut short. As traders, we all know if we had cut that trade short when we saw the market turn against us, we would have come out with a small loss as opposed to the crippling monster we ended up with. Don't allow your losses to run free. It is up to you when you are comfortable cutting them, but don't allow them to take over.
LEARN YOUR CHART LANGUAGE!
NO!, but you can still make great money. There is no humanly way that you can beat the system, but you can make a very comfortable and profitable living from forex. Forex has a language of it's own and in order to have a glimpse of success, you have got to learn the language. The better you master and translate the language, the more successful you become.
What is this strange language????
It is the language of the charts. It doesn't matter whether you interpret candlesticks or bars ( I have a strong preference for candles), you must learn to properly interpret this secret chart language of price action. Your charts are the only indicator that is telling you the real right now truth.
The only disadvantage to the charts that you see is that you can not see what is going on behind the scenes; but many times if you are properly interpreting your charts, you will glean clues about the possible direction of the market.
Even with the knowledge of this secret mysterious chart language of price action, you can still get tricked. It happens.
Why ?????
Because the house always has and will keep the advantage. You can only hope that your interpretation of the language of the charts will be profitable for you most of the times. If you are properly interpreting this language most of the time, you will do very, very well as long as you don't allow your losses to run forever.
Even after some traders become fluent in this price action language, they allow their losses to run and cut their profits short. THIS IS BACKWARDS and WRONG. The profits are suppose to run and the losers are suppose to be cut short. As traders, we all know if we had cut that trade short when we saw the market turn against us, we would have come out with a small loss as opposed to the crippling monster we ended up with. Don't allow your losses to run free. It is up to you when you are comfortable cutting them, but don't allow them to take over.
LEARN YOUR CHART LANGUAGE!
