NEVER LOSE AGAIN!!
My TREND INDICATOR - NEVER LOSE AGAIN!! thread was the most widely viewed thread in TradeStation history. I believe it still holds the record for the most number of views. I have decided to "revive" it again. The NEVER LOSE AGAIN!! thread on BabyPips will become the most widely viewed thread there.
The bottom line is you don't have to end the day, week, month, or year in the red. You can be profitable. You may not win every trade but you will be profitable.
I know most of you have read about money management, risk management, position sizing, stops, etc... So then what are the reason(s) you are still losing? Is the market beating you? Are your stops being hunting? Or are you simply giving your money away?
When you enter the TRADING JUNGLE, you are up against the best traders in the world. They are smarter, faster, have more money, have better equipment, better access to information... better everything than you do! What makes you believe you can win? What "edge" are you bringing to the table that will allow you to take their money? Don't you know the game is "rigged" against you just like in Vegas?
What's the reason you see some currency pairs move over a 100 pips a day yet you're happy barely breaking even? What makes trading so difficult for you? What are you doing?
I know you have read about having a trading plan, haven't you? Do you have one? Come on, be honest... DO YOU REALLY HAVE A TRADING PLAN?
If you do, DO YOU REALLY TRADE ACCORDING TO YOUR PLAN? Come on now, it's time to FESS UP.
What about all those trading books, tapes, videos, and seminars? Ever wonder why there are so many? I just ONE had the answer, then wouldn't it go "viral" and everybody would be trading that method? THINK ABOUT IT.
What about all those indicators, EAs, blackboxes, trading signals and systems for sale? If one of them worked wouldn't it go "viral", too?
I have posted hundreds of FREE INDICATORS for TradeStation, eSignal and MetaTrader. Why? Because I can! I don't like seeing people pay hundreds and thousands of dollars for code, most of which, doesn't work or is way overpriced, IMHO. If you check me out, you'll see I have been banned from many forums. My FREE indicators are a THREAT to their cashflow. My free education materials also threaten their cashflow. Just do the math.
I have been accused of "renaming" indicators. Yes, I rename them AFTER I enhance them because if I post a modified version with the exact same name as the original then it gets "stepped on" and any good programmer knows better than to step on code. But I post my revised/enhanced/fixed version FOR FREE on the same site I downloaded them from. So where's the crime? Some people let their egos get in the way.
I have been accused of SPAMMING because I am an IB for MB Trading. Before I was an IB, I didn't even know what an IB was. The reason I am an IB was because when I found out that there is NO FIXED SPREAD in Forex, I immediately opened an account with EFX Group and posted about it everywhere I could. That had the effect of bringing EFX more customers. As a THANK YOU, they made me an IB. And it got me banned from sites that had FIXED SPREAD BROKERS as advertisers.
Whenever MONEY is involved, it is a DOG EAT DOG, EAT CAT TOO jungle. The sooner you learn that fact the better.
The goal of this thread is to show you how to NEVER LOSE AGAIN. Trading is simple. People traded long before there were computers and indicators. So why do you have so many computers and indicators?
Do you really know how the FOREX market operates? Or do you just know how to place an order? What have you gotten yourself into? THINK ABOUT IT!
TO BE CONTINUED...