Are You Feeling Discouraged?

It is easy for traders to get discouraged when the markets have little to absolutely no follow through like they have had in recent weeks.

We can find ourselves questioning what we are doing and wonder how much longer we can maintain a positive attitude when we are losing money.

Losing Small Prepares You to Win

No one likes to lose money. None of us do. I certainly don’t. However, after 16 years of trading I have accepted that losing is sometimes winning and I am a much happier trader because of it.

Do You Keep a Trade Journal? Here’s a Good Reason to …

One of the best things I do to keep my disappointment from getting too big when I am losing money is to put it in perspective. I look back in my trade journal for a big fat reality check.

That is exactly what I did this past weekend. I looked back…the months of January, February, March and April all showed the great trading sessions we had and all of the opportunities there were to make money.

I smiled and was instantly reminded about just how good it has been.
This too shall pass…nothing in life stays inert for very long, even the markets.
News: We have launched our redesigned website with an all new Traders Training Series inside a brand new Members area.
We invite you to Join our Membership of successful forex traders and see for yourself how you can immediately learn to trade more consistently and become profitable.

 

During our NY Trade Planning Session for forex Members this morning, we identified 2 possible entries on the #GBPUSD and the #GBPJPY that were there for traders who were willing to risk 10 and 12 pips respectively.

Turns out the 10 pip risk on the #GBPUSD and the 12 pip risk on the #GBPJPY was definitely worth the potential reward for traders who got positioned in the trades.

Here is a screenshot of the 2 types of entries we talked about on the #GBPUSD in the planning session for a 10 pip risk

 

 

 

Here is a screenshot of the 2 types of entries we talked about on the #GBPJPY in the planning session for a 12 pip risk

 

 

Click here now and watch the 8 min video I recorded during the NY Session to see exactly how I traded the big GBP moves.

 

 

During our NY Trade Planning Session for forex Members this morning, we identified 2 possible entries on the #USDCAD that were there for traders who were willing to risk 10 pips.

Turns out the 10 pip risk on the #USDCAD was definitely worth the potential reward for traders who got positioned in the trade.

 

Here is a screenshot of the 1st entry we talked about in the planning session

 

 

 

Here is a screenshot of the 2nd entry we talked about in the planning session during our recap of the trade plans

 

 

 

Here is a screenshot of how the price action moved during the NY Session on the #USDCAD

 

 

Bottom Line for Forex Traders

 

The #CAD moved up 135 pips from our 1st and 2nd entry at 1.2595.  That is taking a risk (10 pips)  for a max potential of 13 times our 10 pip stop. Now of course we never know how far a pair will move whenever we enter a trade and in fact, nobody does.

At the Price Action Traders Institute we train traders how to get at least 2 times their risk (and a whole lot more!) out of most trades. We are adamant about getting flat at the end of every session we trade. We take our profits (and losses) and call it a day…we come back refreshed and ready to trade the next session.

Join our Membership of forex traders and learn why our group of traders are so darn successful.

 

“We are adamant about getting flat at the end of every session we trade”
Click to tweet.

In the Live New York Trade Planning Session this morning we had simple and clear trade plans on the EURJPY and the GBPJPY:

“The pairs are in Clear Directional Moves (CDM’s) to the upside, look for further upside movement using a YL entry“

But as any trader who has been in the forex market for any length of time knows, things can change and they can change fast! 

Our Members are taught how to spot these types of changes in the forex markets and how to trade them.

Of course not every Member has the skills to get into these moves especially if they are new to price action trading or new to forex trading.

It takes laser sharp attention on your MT4 charts, quick price action data processing capability, flexibility and most of all: the courage to execute.

Here is what the EURJPY looked like when things changed in the forex market and I entered the trade on a momentum suckback to the short side using a 10 pip stop loss:

 

Here is what the EURJPY forex trade outcome looked like.  My protective stop was hit taking me out of the trade with +50 pips:

Here is what the GBPJPY looked like when things changed in the forex market and I entered the trade on a momentum suckback to the short side using a 12 pip stop loss:

Here is what the GBPJPY forex trade outcome looked like.  My protective stop was hit taking me out of the trade with +35 pips:

 

Join our Membership of successful forex traders and see for yourself how you can immediately learn to trade more consistently and become profitable.

 

– Kim

 

This morning I had a limited amount of time to trade the NY Session because I had to appear in court for a cell phone infraction I received last month while driving;-)) It all worked out ok (thank goodness) and I had to pay a hefty fine.

Lesson learned.

I knew exactly what I was going to do on the NY open because I had done my trade planning ahead of the open.

 

I only had 1.5 hours to get something done before I would have to leave for court. The only uncertainty this morning was whether or not the market would give me the opportunity before I had to leave for court.

And wow!  Did the forex market ever give me and anyone else who trades our method an opportunity across the board.

 

I recorded a video to show you exactly how I made a +117 pip trade on the GBPJPY in just under 54 minutes during the NY Session.  BAM!!

 

My trade plan was very simple.  The GBPJPY was in a Clear Directional Move. All I had to do was wait for the NY open and look for a YL entry.

 

This trade was not based on hypothetical nonsense or a meaningless forex trade alert.  This is the real deal.  So real, we see these trades set up and play out consistently.

 

What does every forex trader get when they join our Membership?  Their freedom, their independence and a realistic way to finally start making money as a forex trader, once and for all!

 

Please click here to watch the video.  It is only 6mins long.

 

Join our Membership of successful forex traders and see for yourself how you can immediately learn to trade more consistently and become profitable.

 

– Kim