You don’t want to be a part of this club…in 90 days 90% of retail traders lose 90% of their money. There is always ways that can help you avoid it but you have to think differently than the crowd.

Realise that you are not in this business to trade, you are in it to make money; to do that you need patience. In fact, I would say that lack of patience is the number one problem of traders.

To survive and prosper as a trader, here are some specific things you need to think about and understand, otherwise you’re likely to become just grist for the mill:

Firstly, do you use wide stops (30-100 ticks)? If yes, you’re just making the brokers rich and guaranteeing losses on your part. After all, the market always trades towards the stops. Market makers always know where your stop-loss is. How else will it shake out all the weak players before making the real move ? By using the right techniques, you can learn to enter swing and long-term trades with no more than 15 pips of risk. Now with a technique like that, you are probably going to lose on 5 out of 6 trades but 1 out of 6 is going to net you 300-900 ticks. The trick of this course is to be able to pick the right ”flash” points” to enter the market.

Statistics show there are certain times to fade various chart formations, oscillators and other technicals. There’s tremendous money to be made here. Why? Because all of those who trade standard formations will be scrambling to get out when they fail, they’ll help push the market in your direction rapidly.

Do you know when to reverse your position ?Since the market loves to catch everyone going the wrong way, this is a great and highly profitable tactic, but you have to know how and when to do it.

How do you handle your swing and long-term trades ? Do you try to trade in and out of them or leave them alone ? How do you feed your winners out to the market ? 

Do you know the exact differences in accuracy between the various time-lapse charts ? In other words, looking at all the charts from a tick chart to monthly’s, which ones are the most and least reliable when applying various studies and formations ? Which ones can you fade ? 

Additionally, I encourage traders to trade less and earn more. Try to understand that it’s better to make 100 ticks with 70-80% certainty than trying to catch the market every day without a clear direction. This way, you keep your liquidity costs low and add to your earnings at the end of the year.

Personally, I have always focused on catching the biggest swing and long-term trades with the lowest risk and therefore the best risk/reward ratios. Real fortunes are made with low-risk entry and then having methods to stay as winners.

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