Since the dawn of time man has sought ways to more easily provide for himself and his family. And women too, of course! Evolution has always been an equal-opportunity extinction machine.
Somewhere along the way, humankind overcomplicated the struggle for survival. We invented jobs, and bosses, and weekly paychecks. Worse yet, we invented meetings, annual reviews, copy machines, bookkeeping, cubicles, and voice mail.
Then we invented Prosac and Lipitor and Viagra because, somewhere along the way, our bodies decided that if we didn’t give them a rest they would start shutting down essential functions.
Do you know that most forex traders spend their careers chasing after pips in the same way I chased after Carrie’s attention? She never gave it to me, unless (at the end) it was to blow me a teasing goodbye kiss. She had received all the benefit from my attention and never gave anything back except a blow to my self-esteem. Gosh, that sounds a lot like when I first traded currency – and the pips teased me until they simply moved away in the end, with a good-bye kiss.
Have you ever watched the market and wondered why the harder you tried, the more quickly the pips distanced themselves from you? I remember when I first started trading that the market would move away from me and I would begin to think: it’s moving. Why is it moving away from me? Couldn’t it just as easily move in my direction?
Until you’re no longer impressed with pips – no longer frightened by them, nor infatuated by them, not in love with them, no longer simply hating them – they won’t give you the time of day. The acquisition of pips is your only goal in the currency market. But pips are fickle and if you pursue them full of emotion, you’re going to get burned.
Do you have a plan for learning about pips, where they’re going, what they’re about to do, and then arm you with a strategy that once implemented, can take a lot of the emotion out of trading. Your goal will be to:
1. Enter positions as soon as a particular signal is given.
2. Exit the position as soon as a particular signal is given.
The payoff will be:
1. The emotion should be gone from the trading. You will enter and exit trades with discipline and focus.
2. You’ll get about 20 pips on the good trades. There will be many more good trades than bad ones.
The 5/13/62 strategy requires discipline. This is the most powerful personal characteristic you can acquire. Period. It will earn you more money and success than any other attitude or personality trait. If you’re low on discipline, please take the time to consider what I’m saying:
In trading, discipline simply means two things:
1. Enter a position as soon as a particular signal is given.
2. Exit the position as soon as a particular signal is given.
If you do not acquire discipline, this system will not work for you. No trading system will work for you. But this isn’t a book about discipline. In fact, this book assumes that you have discipline, or you’re willing to acquire in order to implement a profitable trading system.
Holidays and other bad days
Try not to trade on holidays, especially U.S. holidays. It’s best to stay out of the market on those days and catch up on time with your family, see a movie, adjust the metal rod that was placed in your back, insert a metal rod in your back, or fire up the barbie-q and roast some weenies. Or you can back test your strategies. It’s also best to never, ever, ever, enter a trade past 14:00 GMT on a Friday.
On holidays and late on Fridays, the market is unpredictable and might not move enough to give you any profit. Or it might move 50 points in one direction just for the heck of it, and then move back. Of course it might move a zillion pips, but that’s the exception rather than the rule. Then you’re stuck in what might become a losing position, but meanwhile, you’re losing money to premiums/interest paid to your broker. This is a good time to shove a metal rod into your spine.
Do you want to know more and learn about it ? Just simple, download this format ebook
Somewhere along the way, humankind overcomplicated the struggle for survival. We invented jobs, and bosses, and weekly paychecks. Worse yet, we invented meetings, annual reviews, copy machines, bookkeeping, cubicles, and voice mail.
Then we invented Prosac and Lipitor and Viagra because, somewhere along the way, our bodies decided that if we didn’t give them a rest they would start shutting down essential functions.
Do you know that most forex traders spend their careers chasing after pips in the same way I chased after Carrie’s attention? She never gave it to me, unless (at the end) it was to blow me a teasing goodbye kiss. She had received all the benefit from my attention and never gave anything back except a blow to my self-esteem. Gosh, that sounds a lot like when I first traded currency – and the pips teased me until they simply moved away in the end, with a good-bye kiss.
Have you ever watched the market and wondered why the harder you tried, the more quickly the pips distanced themselves from you? I remember when I first started trading that the market would move away from me and I would begin to think: it’s moving. Why is it moving away from me? Couldn’t it just as easily move in my direction?
Until you’re no longer impressed with pips – no longer frightened by them, nor infatuated by them, not in love with them, no longer simply hating them – they won’t give you the time of day. The acquisition of pips is your only goal in the currency market. But pips are fickle and if you pursue them full of emotion, you’re going to get burned.
Do you have a plan for learning about pips, where they’re going, what they’re about to do, and then arm you with a strategy that once implemented, can take a lot of the emotion out of trading. Your goal will be to:
1. Enter positions as soon as a particular signal is given.
2. Exit the position as soon as a particular signal is given.
The payoff will be:
1. The emotion should be gone from the trading. You will enter and exit trades with discipline and focus.
2. You’ll get about 20 pips on the good trades. There will be many more good trades than bad ones.
The 5/13/62 strategy requires discipline. This is the most powerful personal characteristic you can acquire. Period. It will earn you more money and success than any other attitude or personality trait. If you’re low on discipline, please take the time to consider what I’m saying:
In trading, discipline simply means two things:
1. Enter a position as soon as a particular signal is given.
2. Exit the position as soon as a particular signal is given.
If you do not acquire discipline, this system will not work for you. No trading system will work for you. But this isn’t a book about discipline. In fact, this book assumes that you have discipline, or you’re willing to acquire in order to implement a profitable trading system.
Holidays and other bad days
Try not to trade on holidays, especially U.S. holidays. It’s best to stay out of the market on those days and catch up on time with your family, see a movie, adjust the metal rod that was placed in your back, insert a metal rod in your back, or fire up the barbie-q and roast some weenies. Or you can back test your strategies. It’s also best to never, ever, ever, enter a trade past 14:00 GMT on a Friday.
On holidays and late on Fridays, the market is unpredictable and might not move enough to give you any profit. Or it might move 50 points in one direction just for the heck of it, and then move back. Of course it might move a zillion pips, but that’s the exception rather than the rule. Then you’re stuck in what might become a losing position, but meanwhile, you’re losing money to premiums/interest paid to your broker. This is a good time to shove a metal rod into your spine.
Do you want to know more and learn about it ? Just simple, download this format ebook