0

I can tell you from personal experience if you try to trade based off emotion with no real education in price action you will end up buying tops and selling bottoms. Markets are by nature extremely contrarian and the only real way to read what the charts are telling you is by analyzing and developing a trading method around price action. Prices in any market are inherently contrarian. This means that usually price will do the opposite of what it appears should logically happen next. This is why many beginning traders have so much trouble and lose all their money and then some. You really need to understand that often when it looks safe to enter a trade, or a market is breaking to new highs or new lows, this is the exact time the amateurs are getting on board because they feel safe about entering. They are trading off of emotion because have they have no real game plan or trading strategy. Price action will tip you off when a move has run its course or when the dominant trend is ready to resume. There are specific price action strategies that I demonstrate in my forex trading course that will give you the edge you need to survive and thrive in the contrarian world of forex trading.

 

Let us say that you have this new found addiction, obsession and dream to become the best and richest trader in the foreign exchange market trading industry, or just be one of the best and richest in the market trading industry. You hold on to this dream and obsession of yours like dear life and you are sure that you would absolutely do anything and everything that it would take for you to achieve your goal. But then reality hit you and stares at you in the face. And this is the one and only thing that is keeping you from realizing your dream and hinders you from making it come true. And this is it. You lack the knowledge and skills that even an amateur trader is required to have and even mastered because the force industry is a no nonsense field of business, so how do you go from there and how do you go about that?

 

You may think it's an odd statement, as all traders want to make big gains and yes they do but in most instances they can't accept them and that's what this article is all about, showing the key error these traders make and showing you how to catch and hold the mega trends for huge profits. When a trader gets into a trend and he starts to make money, he's of course happy and the bigger the profit becomes, the better he feels but then, normal restatements come against his positions and these eat into his profit, he wants to snatch it before it gets away.