Let’s talk about the current FX market conditions

Let’s talk about the market environment we are in. Market volatility…we need volatility in the market. It is what keeps the market moving constantly. Without volatility there would be no trade opportunities. But right now we are beyond volatility. News announcements coming out of the Eurozone, Greece. Big upsets in the market causing fear. Fear is what drives prices out of control.

Let’s take some recent trade setups that I lost. Setup at very solid key trading levels. But when the market gets fearful it can blow through support and resistance levels like they were never there. So we are about to trade a little more cautious.

So let’s talk about history. I have been trading for 10 years. This happens ALL the time. I think about every 18 months  there has been a period of 3 to 4 months when the market is just way too bouncy leaving us with lower trading opportunities, or just down right explosive like we are in right now. Guess what? It always goes back to normal. Around April 2012 we are nailing almost 2000 pips a month. The last few months it has been in the hundreds of pips per month won. A much trickier market to deal with.

Now let’s about about the mindset of the average Forex trader out there and why they have a problem being successful. The average new Forex trader comes into the market after hearing stories about 100% month gains and they want in on the action. They come into the business with a gamblers mindset. A mindset that is doomed to failure.

The traders that are kicking butt, making a living trading, have a very different mindset. They invest more for the long-haul. Like a real estate investor would. Think about it. When you buy a piece of property  you are in it for the long-haul. You don’t get an appraisal every day worrying about the value of the property going up or down. You are in it for the long-haul (have I said that enough times 🙂 ?

So the moral here. Folks, if you are going to make it long-term as a trader you have to stick with it. There will be losses. No way around it. And you will even have losing months. Even with our service Pro Signals Direct we have losing months…not very often, but we do. But losses are part of the business. You have to pull your emotions out and look long-term.

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How to Scalp the Forex Market

Scalping the Forex Market can be very profitable…or your worst nightmare. Market volatility, liquidity and news announcements can make forex scalping an exercise in insanity. However, there is a science to the madness. I get clients asking me all the time to put together a course on how to scalp the Forex market. Never going to happen.

Because my goal is to teach people to be successful in Forex I teach strategies that anyone can learn and profit from. So teaching people how to scalp the Forex market is not on the horizon. However, I do scalp the markets. I just do it using software. With the right piece of software the can look at market volume, liquidity and more you can choose the right trade entries. What do I use to scalp the Forex market? iScalper. This little piece of software works like a charm. You can click here to watch iscalper in action.


Forex Market Review 12-17-2014

Hope everyone’s week has been great. Did a really quick market review on a few pairs that a few of our members asked us to review.

Taking a look at the EUR/USD and why the market has been so tricky to trade

Forex Market Preview January 5th, 2014

16 Potential Trade Setups – Forex Market Preview June 17, 2013