If you have been trading currencies online for any appreciable length of time, you will know that online forex trading can be very stressful sometimes.
Why is this so?
Cognitive Psychology studies have found out that the fear centre in our human brain is subconsciously activated when a forex trader is faced with the possibility of losing money in the markets.
Think of what happens if you suddenly encounter a lion as you stroll around a beautiful garden.
Your thigh muscles would automatically engage into gear and sprint you away in fear of the mortal danger you just encountered.
Thank your brains for sending 'flight to safety' instructions to your thigh muscles without you needing to think it through.
There are a lot of things your body does when fear and panic strikes if you face the risk of losing money in the forex market
You enter into the flight to safety mode
And your body starts directing blood flow towards your muscles and away from your brains just as we have been programmed to respond when faced with the risk of death in the jaws of a lion.
Your brain is then deprived of the fuel needed to make critical thought at the very moment it needs the fuel the most.
This results in unimaginable mental stress.
You freeze and then start doing dumb things.
You close your trade to lock in any little gains the markets may have giving you, afraid of giving it all back to the market.
You risk more money per trade after a series of losses in order to quickly make up for past losses.
You overtrade your accounts, ignoring the very rules you spent time and effort crafting.
You do a lot of other things guaranteed to burn your account to the ground.
All because you are experiencing the mental stress inherent in online forex trading.
That is why it is very important to understand the impact of trading on your emotions and learn how to trade without the influence of your emotions.
I can help you work on understanding yourself, identify the emotional triggers that causes you stress and teach you how to dissociate your trading business from your emotions.
My FOREX PIPSACUMULATOR MASTERCLASS teaches you all about Trading Psychology along with the formula we use to make money in the retail forex trading business.
So if you are ready to elevate your forex trading business to the next level, send me a direct message to enroll into FOREX PIPSACUMULATOR MASTERCLASS today.
You too can start sharing in our happiness and our profits.
FUNDAMENTAL ANALYSIS VS TECHNICAL ANALYSIS: WHICH IS BEST FOR A RETAIL FOREX TRADER.
Successful forex trading requires that a trader must have an edge, an advantage over other market participants.
Fundamental Traders use economic news like Central Bank Interest Rate Decisions, Gross Domestic Product (GDP) Data, Employment Data, Housing Data etc to create forecasts about future price moves in the currency market.
Technical Traders on the other hand look for price patterns on charts.
They identify the chart patterns that have historical proven profitable and use these patterns to determine their entry and exits from the forex market.
Which of these two styles of market analysis is best for a retail forex trader?
Fundamental Traders believe that they can time markets.
They conduct fundamental research to generate proprietary economic forecasts which they use to time their entry and exit from the forex market. This is their edge in the markets.
Technical Traders on the other hand know that the forex market reacts instantly to fresh economic news and the results are reflected straight away on the chart.
So they focus on learning how to analyze price charts.
Which style of market analysis can give the individual retail forex trader a profitable edge?
The big institutional players excel at fundamental analysis.
They have the huge resources(money, highly educated employees some with multiple PhDs, very fast and robust network infrastructure in close proximity to the major exchanges, access to customer orders, proprietary information etc) needed to conduct extensive fundamental research that can help them create sound economic forecasts.
Trying to compete with the big institutions on this front is a losers game.
The individual retail forex trader does not have the huge resources to conduct sound fundamental research.
But the individual retail forex trader can use the same price chart available to all market participants to create a profitable trading edge.
Price charts provide a powerful visual of market psychology.
It displays the final result of the ongoing struggle between the forces of supply and demand in the foreign exchange market.
The prices displayed on the chart are not random numbers picked from the sky and streamed continuously via the internet.
These numbers are the actual prices at which actual buy and sell transactions were conducted by real human beings in the currency market.
Since all actions and reactions of all market participants are instantly reflected on the price chart, an individual retail forex trader can create an edge for himself by learning how to analyze price charts to identify profitable chart patterns.
This is where you the individual retail forex trader has an edge.
All market participants look at the same price charts.
So you can compete at the same level with the big institutions on this front and win.
If you do not have the skills to analyze price charts, you can learn it.
But that's a matter for another day.
As an individual retail forex trader, your ability to properly analyse price charts will determine your long term success.
Most new forex traders are lured into online forex trading by the promise of making easy money.
The lure of filthy lucre.
However most new forex traders get fleeced of all their trading capital and more.
If you want to make money consistently from online forex trading, you must trade like a professional.
Yes.
It's only professionals that make money consistently in this business.
And being professional means you take online forex trading as a serious business endeavour for the long term not a hobby or just another source of therapy.
Professional Forex Traders work hard to maintain the machine-like discipline and single minded focus necessary for successful online forex trading.
If it were easy, every novice forex trader would be a millionaire trader buying every new Ferrari model.
But there is a shortcut to becoming a professional forex trader.
Under the guidance of a mentor/ coach, a novice forex trader can be transformed into a profitable professional forex trader.
Can this be done?
Yes indeed.
This is what I teach in the FOREX PIPSACUMULATOR MASTERCLASS.
I teach my students how to trade forex with care and thought such that large gains are more likely than large losses.
You can view our online trade explorer above this page to review our open trades and see how we make money with the FOREX PIPSACUMULATOR TRADING STRATEGY.
Join us in the FOREX PIPSACUMULATOR MASTERCLASS Today.
Your bank account will thank me later.
You can also buy The New Revised Edition of The FOREX PIPSACUMULATOR Ebook if you prefer to learn on your own, at your own pace.
The Ebook includes several chart examples to make the concepts easy to understand.
Send me a DM today to start learning the unique skill set you need to become a profitable professional forex trader.
You can also click this link to join our Telegram Channel to learn more about FOREX PIPSACUMULATOR TRADING STRATEGY and regular forex trading ideas: https://t.me/+SJJXX10-Ev0xZjNk
If you trade with a Forex Trading Strategy with positive expectancy, you can expect to make a profit after executing a large number of trades.
Even then, your trading strategy may still experience a string of consecutive losses that causes the inevitable drawdown.
If the drawdown is severe, you will blow up your forex trading account.
But when your profits are multiples of your losses, you will make a net profit over time.
How many consecutive losses can your trading strategy experience before you blow up your forex trading account?
You can only answer this question if you conduct extensive backtests on your trading strategy or you front test your trading strategy in live markets.
Backtesting your trading strategy over a long period of time will help you develop confidence in the trading strategy.
Having confidence in your trading strategy will give you the courage to sit out the drawdown periods without you doing silly things.
Another way to start dealing with losses is for you to front test your trading strategy with a small amount of trading capital.
You deposit a small amount of money with your forex broker and make execution decisions based strictly on your trading strategy.
And you will start learning how your trading strategy behaves in live markets.
Personally, I prefer to front test my trading strategy with a little trading capital in live markets because I believe that practicing execution decisions in live markets helps me to master the strategy.
I will experience the series of wins and losses inherent in the trading strategy as I make execution decisions on a small practice account.
This helps me to develop confidence to stick with the trading strategy even during the inevitable drawdown periods.
But this demands courage and honesty on your part.
Practicing in a small live trading account is a very good method of dealing with losses inherent in forex trading.
You will experience the emotions that afflict all traders and learn how to deal with these emotions.
If you want to start learning how to trade systematically, I encourage you to enroll into FOREX PIPSACUMULATOR MASTERCLASS.
You will learn the rules based forex trading strategy that I personally use to make money everyday in the forex markets.
Get in touch with me and I will take you in from that point.
*******NOTE*******
** DO NOT RISK MORE THAN 2% OF YOUR TRADING CAPITAL ON ONE TRADE
** SIGNALS GOOD TILL CANCELLED
** WATCH THIS SPACE ON TRADE MANAGEMENT TACTICS AND UPDATES
"Bulls make money, bears make money but pigs get slaughtered"
Every human being has the desire to acquire food, a home and clothing to protect their body.
It is only natural for us humans to want to improve our well being.
But when you always want more and always more of the necessities and luxuries of life - more food, more clothes even with a full wardrobe, more cars, more luxuries and more money to the extent that more of these things defeats its own purpose, this is greed.
Greed is one of the biggest psychological barriers to being a profitable forex trader.
Greed is what tempts a trader who is enjoying a winning streak to continue to ride the markets for more profits.
Greed will tempt you to add another lot to your position in the hope that the winning streak will continue.
But you cannot know in advance how far prices will run before reversing.
Greed can push traders past the limits of pain and fear until the market fleeces them of everything they have.
So what should you do then?
When you have a good profit, cash out, close the trade and walk away.
But it is very difficult for many forex traders to follow this simple rules.
They are afraid that prices will continue in the original trend direction when they get out of their position.
You can even be tempted to jump back into the market after closing a profit because you are afraid of missing out of the potential profits from the ongoing trend.
This is greed.
It's painful to watch prices continue in your original trade direction after you get out but in all likelihood, the trend won't continue for long.
And if it does, congratulate yourself that you took some profits out of the trade.
So how do you conquer greed?
Always create rules to take your profits.
How can you do this?
Personally, I set a profit target of 5X my initial risk on any trade and then I will trail prices as the trade moves into profits.
Set a profit target for your trades.
Trail your profits.
Take some money off the table along the way.
You must create such rules for yourself.
And you must follow your rules.
This is how to conquer greed as a retail forex trader.
Don't hope for winning streaks to go on and on and don't wait for the trend to reach its peak before you take your profits.
Do this even when everyone around you is saying that the trend will keep going in your favour.
Just follow your rules.
This is how to conquer greed.
And if you do not have a rules based forex trading plan, you can consider enrolling into FOREX PIPSACUMULATOR MASTERCLASS.
What is FOREX PIPSACUMULATOR?
FOREX PIPSACUMULATOR is a rules based forex trading plan created to help the retail forex trader to
** achieve their dream of financial freedom through online forex trading
and
** save a lot of time on chart analysis ( you need less than one(1) hour to analyze charts everyday) so that you can spend more time on your job, with your family and friends, on other interests and your hobbies.
FOREX PIPSACUMULATOR is the same trading plan I use everyday with amazing results.
So if you want to elevate your online forex trading business so that you can achieve the financial freedom that you deserve, send me a Direct Message to enroll into my FOREX PIPSACUMULATOR MASTERCLASS TODAY!!!
Get in touch with me and I will take you in from that point.
FOREX PIPSACUMULATOR VIP SWING TRADING SIGNALS. 1. USDCAD. BUY STOP @ 1.3715 STOPLOSS = 1.3653 2 AUDUSD. SELLSTOP @ 0.6481 STOPLOSS= 0.6532 3. GBPUSD. SELLSTOP @ 1.2422 STOPLOSS= 1.2473 4. EURUSD. SELLSTOP @ 1.0677 STOPLOSS= 1.0717 5. NZDUSD. SELLSTOP @ 0.5919 STOPLOSS= 0.5955 *******NOTE******* ** DO NOT RISK MORE THAN 2% OF YOUR TRADING CAPITAL ON ONE TRADE ** SIGNALS GOOD TILL CANCELLED ** WATCH THIS SPACE ON TRADE MANAGEMENT TACTICS AND UPDATES Send me any questions and comments. I will be available to answer your feedback. Happy Trading. Bababunmi...
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FOREX PIPSACUMULATOR VIP SWING TRADING SIGNALS.
UPDATES
WE ARE REWORKING THE PARAMETERS OF THE FOLLOWING TRADE SIGNALS
FOREX PIPSACUMULATOR WEEKLY MARKET COMMENTARY 27TH APRIL 2024
USDJPY- BULLISH
Our LONG Trade from 154.86 is already in profits.
We have moved our STOP to breakeven at 154.99 making this trade risk free.
Keep watching this space for trade management tactics and how we will harvest our profits in the coming days.
EURUSD- BEARISH
We still hold a bearish bias in this currency pair.
The pair retraced up to the resistance area around 1.0750 before falling on Friday.
Our SELLSTOP ORDER at 1.0677 with STOP at 1.0743 is now active.
GBPUSD- BEARISH
This pair retraced up from the most recent low into the resistance area around the 1.2540 level before dropping on Friday afternoon.
Our SELLSTOP ORDER at 1.2453 with STOP at 1.2531 is now active.
USDCHF-BULLISH
This currency pair traded in a range all week but we expect a bullish breakout in the coming days.
Keep watching this space for updates.
USDCAD-BULLISH
The Bullish Breakout on Monday failed.
The pair then dropped to support level around the 1.3630 level.
We still hold a BULLISH bias on this pair and we are positioned to enter LONG from the 1.3700 region.
AUDUSD- BEARISH
This pair retraced up to the resistance area around 0.6560 level.
We are still looking to enter short around the 0.6520 level for a continuation of the downtrend.
NZDUSD-BEARISH
This pair also retraced up to resistance area around 0.5970 level.
We hold a BEARISH bias and we will enter SHORT if price drops below 0.5930 level
MAJOR EVENTS TO WATCH NEXT WEEK
1. Fed Funds Rate, FOMC Statement, FOMC Press Conference
DATE: Wednesday, May 1, 2024
TIME: FROM 18:00GMT
2. Non-Farm Employment Numbers
DATE: Friday, May 3, 2024
TIME:
I teach a rules based forex trading plan in The FOREX PIPSACUMULATOR MASTERCLASS.
If you want to learn a forex trading strategy created to help you achieve your dream of financial freedom through online forex trading and save you a lot of time on chart analysis ( you need less than one(1) hour to analyze charts everyday) so that you can spend more time on your job, with your family and friends, on other interests and your hobbies, then consider enrolling into FOREX PIPSACUMULATOR MASTERCLASS TODAY,
FOREX PIPSACUMULATOR is the same trading plan I use every day to analyze currency prices every day with amazing results.
Send me a Direct Message to enroll into my FOREX PIPSACUMULATOR MASTERCLASS TODAY!!!
*******NOTE*******
** DO NOT RISK MORE THAN 2% OF YOUR TRADING CAPITAL ON ONE TRADE
** SIGNALS GOOD TILL CANCELLED
** WATCH THIS SPACE ON TRADE MANAGEMENT TACTICS AND UPDATES
FOREX PIPSACUMULATOR VIP SWING TRADING SIGNALS. UPDATES WE ARE REWORKING THE PARAMETERS OF THE FOLLOWING TRADE SIGNALS 1. USDCAD. BUY STOP @ 1.3697 STOPLOSS = 1.3630 TAKEPROFIT= 1.4032 2 AUDUSD. SELLSTOP @ 0.6516 STOPLOSS= 0.6557 TAKEPROFIT= 0.6311 3. NZDUSD. SELLSTOP @ 0.5928 STOPLOSS= 0.5972 TAKEPROFIT= 0.5708 4. USDCHF. BUY STOP @ 0.9151 STOPLOSS= 0.9093 TAKEPROFIT= 0.9441 *******NOTE******* ** DO NOT RISK MORE THAN 2% OF YOUR TRADING CAPITAL ON ONE TRADE ** SIGNALS GOOD TILL CANCELLED ** WATCH THIS SPACE ON TRADE MANAGEMENT TACTICS AND UPDATES...
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FOREX PIPSACUMULATOR VIP SWING TRADING SIGNALS.
UPDATES
WE ARE REWORKING THE PARAMETERS OF THE FOLLOWING TRADE SIGNALS
As a newbie forex trader, I'm intrigued by your 30-day educational email course. Could you explain how you select trading signals and ensure they're reliable for beginners like me?
FXRobustix: MT4/MT5 EA Robustness Testing Beyond - https://fxrobustix.com/
As a newbie forex trader, I'm intrigued by your 30-day educational email course. Could you explain how you select trading signals and ensure they're reliable for beginners like me?
Ignored
Thank you for your question.
I use my rules based forex trading plan FOREX PIPSACUMULATOR to generate high probability forex trading signals which I trade everyday.
FOREX PIPSACUMULATOR Trading Plan includes:
1. The markets to trade
2. The Time-frames to watch
3. The Technical Indicators to use
4. How to spot high probability forex trading setups on candlestick charts.
5. How to structure your trades for consistent profits.
6. Risk and Money Management Rules
7. How to overcome the psychological barriers to profitable forex trading.
This is what I teach in my 30 Days Educational Email Course, FOREX PIPSACUMULATOR MASTERCLASS.
When you enroll into the FOREX PIPSACUMULATOR MASTERCLASS, I will coach and mentor you for 30 Days how to implement all aspects of The FOREX PIPSACUMULATOR Trading Plan from beginner to advanced level.
I will also provide you with all the high probability forex trading signals generated using FOREX PIPSACUMULATOR Trading Plan to help you build up your forex trading account while you are learning.
Some of my mentees have used the free signals provided during the FOREX PIPSACUMULATOR MASTERCLASS to successful pass Prop Trading Challenges.
You too can take up this challenge if you want to manage Prop Accounts
My goal is to transform you into a profitable forex trader within 30 Days.
So I encourage you to enroll into FOREX PIPSACUMULATOR MASTERCLASS today to learn this unique skillset.
The Course Fee is a 1-Time payment of US$100 only.
You can make payment by Bitcoin, Skrill, Bank WireTransfer, Western Union, MoneyGram,
Perfect Money(PM).
Please send me a direct message on WhatsApp/Telegram with your preferred payment method to start learning today.
And I will send you the payment details.
Once your payment is received, you will start receiving the daily notes and free high probability forex trading signals in your email box.
Hoping to see you in the FOREX PIPSACUMULATOR MASTERCLASS.
FOREX PIPSACUMULATOR WEEKLY MARKET COMMENTARY
5TH MAY 2024
USDJPY.
We closed our long trade in profits immediately markets opened last Sunday.
Prices dropped before London Session on Monday due to Bank of Japan intervention.
There is still threat of further intervention from the BOJ so we prefer shorts.
EURUSD-
This pair dropped to support around the 1.0650 level last week before bouncing to the 1.0810 level after the US Non Farm Payroll Numbers last Friday.
Fed Chairman Powell was slightly dovish during his press conference last Wednesday, so I favour long positions for the week.
GBPUSD
This pair dropped to support around 1.2466 before bouncing in the aftermath of the US FOMC Meeting Statement.
Watch out for Bank of England Interest Rate Announcement on Wednesday..
USDCHF
This currency broke to the downside after the US FOMC Meeting Statement and there was follow through selling after the US Non Farm Payroll Numbers on Friday.
I favour shorts in this pair.
USDCAD
The bullish breakout during the early part of last week failed again and the pair dropped back into its range after the US FOMC Meeting Statement.
The pair is still in a range and I look to buy at support and sell at resistance
AUDUSD
The pair dropped back to support level around 0.6464 before bouncing after the US FOMC Meeting Statement.
I favour long positions in the coming week.
NZDUSD
This pair also dropped to support around 0.5870 level before bouncing to new highs after the US FOMC Meeting Statement.
I look for long positions in the course of the new week.
MAJOR EVENTS TO WATCH NEXT WEEK TUESDAY MAY 7. 06.30GMT Reserve Bank of Australia Monetary Policy/Rate Statement.
THURSDAY MAY 9 13.00GMT Bank of England Monetary Policy/Rate Statement.
FRIDAY MAY 10. 08.00GMT UK Monthly GDP Numbers.
I teach a rules based forex trading plan in The FOREX PIPSACUMULATOR MASTERCLASS.
If you want to learn a forex trading strategy created to help you achieve your dream of financial freedom through online forex trading consider enrolling into FOREX PIPSACUMULATOR MASTERCLASS TODAY,
FOREX PIPSACUMULATOR is the same trading plan I use to analyze currency prices every day with amazing results.
Send me a Direct Message to enroll into my FOREX PIPSACUMULATOR MASTERCLASS TODAY!!!
