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CONSISTENCY IN RISK CONTROL By Vic Noble for Forexmentor.com 2007, Currex Investment Services Inc. Jan 17, 2007

Over the past week or so we ve discussed the importance of applying consistency to your trading, and we ve identified 3 key areas that really require your attention. First, we talked about how important it is to be consistent in how you approach the markets, and that it s important not to be oscillating between trading systems and technical indicators, forever in search of the Holy Grail. currency day trading

Next, we focused on the importance of consistent execution of your trading plan, without hesitation, when a viable opportunity does present itself. This means being patient and waiting for truly good set ups and not just trading because of a need for action-yet being fully prepared to enter a trade with confidence and conviction when there is a good trade set up. And we noted that it s extremely important to be even-keeled emotionally, meaning that we don t have a big hysterical reaction win or lose. financial software trading

Today we re going to examine the area of risk control. Most traders I ve worked with tend to gloss over the area of risk control. I ll tell you an interesting story that I found quite sobering when I heard it. I was a futures broker for many years for one of the largest futures trading companies in the world, and while I was there I had that unique opportunity to see how people handled their accounts. We had many forex clients as well, and in talking with the head of our forex department one day, he gave me some facts that really floored me. He told me that in ALL of the company, the average opening account size for a forex client was about $5000 USD, but, and here s the shocker, the average life of that account was about 3 months! Sound familiar Well if it does, you re among a majority. I ll tell you one thing right now. If you only risked a VERY small percentage of your account on any one trade, and you consistently risked the same percentage of your account every time you could not possibly lose the $5000. Not possible. How would you feel about having most of that money back online stock trading company

So what happens to these people Well they don t actually have a business plan at all. What they have is a get rich quick mentality, and obviously we know where that ends up. Typically what would happen is someone would sustain a pretty substantial drop in their account, but instead of trying to figure out the problem, it was not uncommon to see the client double up the next time to make it back. Well, one of the fundamental truths of trading is that the market is always right-always. You will NEVER teach the market a damned good lesson -it s the other way around. forex day trading

But here s the irony; by keeping your risk very small, you can still realize exponential returns on your capital! And by controlling your risk properly, you will be able to handle a string of consecutive losses and not have it devastate your account. And you will have a string of losses, you can count on it. The question is, will you be able to handle it, both financially and emotionally financial in market

When I do a coaching session with clients, I always make them a 100% guarantee. If you ignore the fundamentals of good risk management, you will, for sure, lose your account. You may get lucky for a while, but it won t last. That s a 100% guarantee. Hey, everybody likes a guarantee, right How do you like that one stock trading system

The other glaring problem that people have is in their stop management, including initial stop placement and stop movement. There are all sorts of goof-ups that happen in this area. Some traders have their stops too tight and others way to far away. And so they try a different stop placement almost every time they trade! How random! Or maybe they have a bad habit of jamming their stop up to break even far too quickly for fear of losing any money, only to get stopped out for no gain, and then to see price take off just the way they knew it would-without them! Ouch. day trading stock tip

And of course there s the other group that cannot stand the thought of being wrong (again), so they start moving their stop further away as price gets close to it, to give the market a little more room . Double ouch. financial forex forex software

So here s the challenge to you. Commit to managing your money in a consistent and professional manner. Why would you not Prepare yourself so that when you go into a trade, nothing bad can happen. It s a mind set that is so very powerful, because by having that extreme confidence that no matter what happens, you will be fine, then you can go into a trade without worry or fear. You can approach trading with a financial and emotional detachment from the outcome of the trade. And that is a very powerful place to be trading from. stock market trading

Thanks traders. I truly hope that in these last 3 articles I ve been able to effectively articulate the vital importance of consistency in your approach, execution, and trade management. Until next time, keep your risk under control at all times, and be consistent!! Vic Noble Forexmentor Personal Coach http://www.forexmentor.com/coaching/ Index of Other Forex Trading Articles day lesson stock tip trading

Consistent Execution of Your Trading Plan Peter Bain s Forex Course Member Home Workshops

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CONSISTENT EXECUTION OF YOUR TRADING PLAN By Vic Noble for Forexmentor.com 2007, Currex Investment Services Inc. Jan 8, 2007

In the last article I talked about one of the biggest problems that I see time and time again with traders-inconsistency! And again, the most prominent areas of inconsistency are in trading approach, trade execution, and trading management. day trading future

In this one-of-a-kind interactive webinar recording, learn how professional traders enter into their positions and how they manage their positions for consistent profits. financial forex market trading

One-on-One Personal Coaching Service

This service is designed to help traders like you to fast track your development as a forex trader. Coach s Corner Live Conference service held on Mondays Thursdays at 3PM US EST designed to provide highly effective follow-up support to those members that have completed the initial Private Coaching program with Vic Noble. Participants can bring specific trading questions and chart examples for discussion during these interactive sessions. online trading stock and

Forex Profits With MACD Course

The MACD indicator is unparalleled in its versatility, reliability, and predictive power for trading the Forex. When analyzed with the other core components such as support/resistance, trendlines, moving averages, and pivots, MACD provides the Forex trader with tremendous insight into forex market dynamics. This is a comprehensive video course for both novice and seasoned Forex traders. Simply put, when done with this course, you will know more about one of technical analysis most powerful indictors better than 98% of your trading competition. day trading software

PM Preview ActiveTrader

PMP ActiveTrader is a pip-by-pip live trading lab where traders can trade live markets together with mentors and fellow members. Be taught in real time how to use indicators in a live market as it moves through from the Asian to the London to the New York sessions. Live trading room hosted by our senior mentor Seth Gregory. financial market science

PM Preview Live Market Preview

PM Preview (PMP) is a unique service specifically designed to help new and intermediate Forex traders master the tools and techniques presented in the Peter Bain Forexmentor Course and AM Review. This is a live online service offered twice weekly where you learn to assess live price action for the EUR/USD before the London market opens with trading host Seth Gregory. stock trading software

PM Preview 2006 Archive Create Trading Play Webinar CD

Complete video archives of the PM Preview Service from June to December 2006 (120+ hours) in a 7-CD set. Teaches you the art of analysing the market before any price action has developed. You can turn back your charts for backtesting and learn how to identify when indicators work and do not work. emini day trading

Multiple Monitor Trading Lab (Live Training)

Learn to trade effectively using different time frames with multiple monitors. This one-of-a-kind hands-on trading lab is hosted by seasoned trader. financial sales services

Forexmentor Membership Renewal (for current members only)

Get Daily Pivots, Online Pivot Calculator, AM Video Commentary Trading Examples, Member Discussion Forum, New Trading Strategies, Articles and Tutorials, Access to Hundreds of Hours of Video Archive, Access to New Features, Special Price to Future Products forex day trading system

A Working Man s Position Trading System

Daily 3 Stochastic Position Trading system is a set of highly visual trading strategies that take only a few minutes a day to implement. You can quickly scan currency pairs, perform necessary trade management and get on with your life! financial services trading

Advanced Forex Tactics Webinar Recording

Seldom revealed Behind-the-Scenes insight into today s Forex trading environment with Chris Lori, CTA. Discover the other great Forex investment alternatives the institution traders use that are also available to you. online stock trading canada

High Probability Reversal Patterns CD Course

Big money on the forex is often made on major trend reversals. An astute Forex trader is able to accurately predict the imminent tops and bottoms of his/her favorite currency pair and patiently wait to cash in. In this video course, Chris shares six of the most effective reversal patterns that occur frequently in the Forex market. In addition, Chris has included a special bonus in which he shares with you the specific tools he uses to predetermine the pattern probability and potential. beginner guide to online day

MetaTrader Video Tutorial

Alan Benefield Forex trader and software expert has created a valuable educational resource for those wishing to master the powerful MetaTrader free forex trading platform. In just over 90 minutes, Alan will demonstrate everything you need to know to become an expert user of MetaTrader 4. financial portfolio trade

Past Webinar Recordings

Get recordings of past Forex training webinars The Best of 2006 AM Reviews on CDs Forexmentor Polo Shirt Review Cart online broker day trading

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Forex Training Blog Blog Archive Can you recommend a broker with good charts We use and highly recommend FX Solutions. Their new, recently released FX AccuCharts are impeccable.... frequently asked questions

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Can I start trading part-time while working full-time How much money do I need to start trading online stock trading game

Can you recommend a broker with good charts

We use and highly recommend FX Solutions . Their new, recently released FX AccuCharts are impeccable. This entry was posted on Tuesday, August 28th, 2007 at 6:49 pm and is filed under Frequently Asked Questions. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site. day trading system

The Federal Reserve s benchmark is 5.25 percent and the European Central Bank s rate is 3.50 percent. Interest rates are at 6.25 percent in Australia and 7.25 percent in New Zealand. Japan bought its own currency in December 1997 and from April to June 1998 to curb carry trades, Mohi-Uddin wrote. The yen is weaker now than it was when Japan last bought, according to its value versus its trading partners after adjusting for inflation, Mohi-Uddin wrote. % he Ministry of Finance should intervene in dollar/yen and euro/yen, % Stephen Jen, global head of currency research at Morgan Stanley in London, wrote in a research note. The weakening yen %ttracts unwanted political attention from the U.S. and Euro-land and risks abruptly reversing later this year% to 108 per dollar and 134 against the euro. day trading signal

posted by ForexMentor | 10:23 PM | 0 comments End .post Begin #comments End #comments india online stock trading

Monday, January 01, 2007 Begin .post What separates winners from losers The content of this newsletter is for general information and educational purposes only.

Trading is a mind game. Training a trader% mind is the first step for any successful trader, but almost all new traders neglect this part and that explains why more than 90% of traders fail in the long run. It is a proven fact that the difference that makes the difference is the mindset of the winning trader, good judgment and quick reaction to the information received. Most traders today are linked to the same information sources; it is how they respond to this information that separates winners from losers. day trading rule

Instead of thinking like any other normal person, you need to start thinking like a speculator. Winners are probability thinkers. They understand that trading is all about thinking in probabilities NOT certainties. They consider the probabilities, evaluate them, and go for them when they are in their favor. day trading tip

The decision making process may be long and there might be some planning behind it, but sometimes traders seem to take too long to take a decision and often that ends up being a wrong decision. This is one of the most important things behind success or failure. Some traders make quick decisions, but are not able to follow them, and as a result they end up being on the losing side. Other traders can% make up their minds, because they really don% know what they are doing. They don% have a plan, or rules to guide them and therefore are uncertain of what they should be doing. online stock trading review

The reason why people avoid making a decision is because it% painful and traders often have a ready assumption that their decision might not be the right one. The Forex market is playing with their mind, but they are not able to understand that. If they can have confidence in what they are doing, they will be able to support the pressure. day trading firm

At the end of the day, everything depends on the trader% ability to take a decision in spite of knowing that there is no guarantee to the Forex movement and taking a right decision. The Forex market and its ups and downs are always going to be there. The Forex trader has to keep cool and be disciplined. It is like mentally preparing yourself in advance for what lays ahead, so that you will not be caught off guard. on line stock trading

Winning traders are disciplined.

Winning traders discipline themselves to do what needs to be done. They know their rules and they follow their rules. Winning traders have a plan and they work the plan. Winning traders are patient. Winning traders are conflict free. The people who succeed at trading, the people who succeed consistently at any endeavor, are people who are conflict free about their endeavor. They are clear about their goal of becoming a consistently profitable trader, and all parts of their beings are in alignment with their goal. day trading book

They are comfortable with taking a calculated risk and waiting to see what happens. They are comfortable within the process of both winning and losing. Both are expected and accepted. Winning traders are comfortable in the market. The market is where they want to be and trading is what they love to do. forex stock trading

Winning traders expect to win.

They associate trading with pleasure. The pain is only temporary on the way to greater pleasure. They set their intention. They intend to make money and to follow their winning methods as well as to constantly improve. Improving and making money is total pleasure. The rest is secondary. Winning traders do their homework. They research their methods. They verify their methods and they stay up-to-date with current markets. They practice mental rehearsal. They keep themselves mentally and physically fit. stock market day trading

Winning traders are confident.

Their confidence is not dependent upon the results of a trade. They know that whatever happens, they can make the money back. Winning traders understand that trading is a game of probabilities. Winning traders are probability thinkers. They understand that trading is a game of probabilities, and unlike some losing traders, they never expect to have an absolutely certain outcome. They realize each trade is only a probability and they always control the risk. online stock trading site

% o profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.% -- Robert Rhea posted by ForexMentor | 10:47 PM | 0 comments End .post Begin #comments End #comments search day trading

• Clear and insightful view of the economy
• Canadian dollar slides after weak November jobs da...
• Emotions are a tradera s worst enemy
• China Sells Dollars
• Important to know for trading commodity currencies...
• Economic Outlook Commentaries
• JP Morgan Sees CAD Weakness in 2007
• Carry Trade explained by CTA Chris Lori

Powered by Blogger Monday, December 18, 2006 Breaking News: China To Dump One TRILLION In US. Reserves! Courtesy of Harry (our valued member) Check out this interesting news regarding China dumping one trillion in U.S. reserves. You can read the whole article at this link (excerpt included below): http://www.halturnershow.com/ .html Keep your seat belt fastened. Regards, Harry BEIJING, CHINA - Sources with a U.S. Delegation in Beijing have told The Hal Turner Show that the Chinese government has informed visiting Bush Administration officials they intend to dump one TRILLION U.S. Dollars from China's Currency Reserves and convert those funds into Euros, gold and silver! China was allegedly asked to withhold the announcement until Bullion Markets closed for the weekend to prevent an instant spike in gold and silver prices. This delay will give the world the weekend to consider appropriate actions rather than have a knee-jerk reaction, which could see the U.S. Dollar totally collapse in value Monday. posted by ForexMentor | 1:15 AM 0 Comments: Post a Comment Home China To Dump USDollars Forexmentor Update: Canadian dollar slides after weak November jobs data

• Emotions are a tradera s worst enemy
• Weekly Update
• Weekly Update
• China Sells Dollars
• Important to know for trading commodity currencies such as CAD and AUD
• Economic Outlook Commentaries
• JP Morgan Sees CAD Weakness in 2007
• Carry Trade explained by CTA Chris Lori
• Canadian Economy
• EUR/JPY pair showing clear posture to drop

Powered by Blogger Sunday, December 03, 2006 Canadian dollar slides after weak November jobs data The Canadian economy has shed full-time jobs in November. Traders continue to focus on the prospect of economoci weakness, and eventual interest rate cuts in Canada and the U.S. Translation: USD/CAD positive. Toll Bros. Inc., one of the U.S.a largest home builders, says it simply has no idea when the downturn in housing will end. Fridaya s report indicated the biggest drop in housing starts in six years. This presages a sharp downturn in U.S. economic growth into next year. The housing slump is beginning to affect other sectors as well, suggesting a similar recession in the manufacturing sector. The ISM reported that, for the first time in nearly four years, its factory index fell below a key 50 threshold, signalling a contraction in this key sector. It had been expanding for the past 41 months. Sales of construction materials have slowed, and there have been cuts in production of automobiles. posted by ForexMentor | 8:57 PM 0 Comments: Post a Comment Home Forexmentor Update: Clear and insightful view of the economy Here is the link for Bloomberg: http://www.bloomberg.com/news/av/ Look for the report at the left side under a Audio/Video Reportsa This report should be listed there for several days. The tile of the report is: a Stephen Roach Sees U.S., China Driving Global Economic Slowdowna Christoph Lahrs posted by ForexMentor | 11:54 PM 0 Comments: Post a Comment Home Forexmentor Update: Fund outflows undermine Canadian dollar

• Weekly Update Dec. 12, 2006
• Clear and insightful view of the economy
• Canadian dollar slides after weak November jobs data
• Emotions are a trader% worst enemy
• Weekly Update Nov. 21, 2006
• Weekly Update Nov. 14, 2006
• China Sells Dollars
• Important to know for trading commodity currencies such as CAD and AUD
• Economic Outlook Commentaries
• JP Morgan Sees CAD Weakness in 2007

Forexmentor Update: Greenback tipped to rise as US economy slows Powered by Blogger Tuesday, December 19, 2006 Greenback tipped to rise as US economy slows Courtesy of Alex (our valued member) Interesting currency story from Reuters a Greenback tipped to rise as US economy slowsa available at this link: http://www.nzherald.co.nz/topic/story.cfm c_id=167 objectid=10414720 Forexmentor Update: Potential large pullback on the GBP/USD pair Have a great weekend. Gary Connell France posted by ForexMentor | 8:47 PM 1 Comments:

Anonymous said...

Great article. I have a slightly different view of what will happen here. I believe price will fall to approximately 1.9100 between today Dec 15 and the end of the year. Jan 1st I expect price to push north back to the upper trendline formed by the 1.9850 high. Perhaps price will channel back forth between those two trendlines for the first quarter.

Just a thought.

4:40 AM

Post a Comment Home Forexmentor Update: What separates winners from losers Forexmentor Update: Yen to Climb as Japan May Seek Stronger Currency, UBS Predicts Forexmentor Personal Coaching Service with Vic Noble Peter Bain's Forex Course Order

Take only a few minutes a day to identify essential price points where the big dogs are looking for a price reaction. We will show you how to get into the new trend with the big dogs, manage and hold your position for maximum profit in a potentially long term move. Ideal Order Entry and Position Management best online stock trading

The bottom line - Minimize risk and maximize profit with proper order entry and position management!! Learn Chris Lori s popular order entry methods that have positively and completely changed the way many novice and experienced traders think and perform. As you know, position management can be very subjective. Well, the best way for a trader to remain consistently profitable over the long term, is to understand price movement at the deepest level and manage your trades according to what you see the major players doing (which is covered throughout the workshop). We will take what we learn about price movement and apply an easy to manage strategy aiming to maximize profitability, and control losses, on each entry you take. day trading course

5 Critical Psychological Factors Every Trader Must Know about Themselves

We often hear that trading is All Psychology, well, trading involves many key components, but it is critical that you have clear understanding of the psychological factors that will definitely affect your ability to profit as a trader. Traders have all heard about the fear/greed emotional swings in trading, but just can t get a handle on it when engaged in a trade in the moment. This section will help you to understand and manage the waves of emotion trader s experience when taking on, and being engaged in, a trade. online stock trading in india

Simulated and Live Recorded Trading Exercises

Nothing is more powerful than seeing the application of tools used to find entries and manage trades. We will walk through simulated scenarios to show you how the tools are integrated into the uniqueness of current market situations and price action. You will be challenged on making decisions and have immediate feedback and results while showing how the methods are applied. emini day trading system

What Do I Do Now

By the end of the workshop, we will show you how to start your day, manage your workspace and look for potential entries on the day/weeks ahead. We will show you how to establish a plan, and look for potential future market set ups each time you sit down at your trading desk. If you are an intermediate or advanced trader, you will be blown away by the most leading edge trading techniques, step-by-step approach and market perspectives you will receive from this fast-paced, hard-hitting live workshop. stock trading investing

We are not going to waste your time with rudimentary, 101-type information. Only the most advanced topics, information and techniques will be covered. Your presenter, Chris Lori is a highly respected a licensed CTA (Commodity Trading Advisor). He is a full time professional currency trader and fund manager. Chris is a recognized authority in Forex education and has worked closely with me in addressing the trading challenges of our members. More on Chris later... day trading information

Note: This is will be an intense advanced workshop. Please come prepared. Completion and understanding of the ForexMentor course is a highly recommended prerequisite.

So hold onto your seat! The advanced workshop will expand your knowledge, analytical skills and offer you little known tips and insights into the world of experienced professional traders. If you think you know it all, wait till you take a seat at this workshop! internet stock trading

Welcome Remarks from Chris Lori... Developing traders believe that the technical mechanics are the only essential means to huge profits in trading. If you want to make a living at trading, Market Knowledge is critical; otherwise, it is almost certain you will give your account balance to traders on the other side, the professionals. That s why I am very excited that Forexmentor has made this advanced workshop available to the Forexmentor family. Having delivered a dozen different workshops in the last 7 months around the world, I ve gained a much better understanding of the challenges that face our traders everyday. I firmly believe it is important for private traders to understand how seasoned trading professionals and fund managers operate in this trading environment. I ll promise to give you 110% and work hard to exceed all of your expectations. Unsolicited Testimonials from Recent Attendees... The workshop was fantastic - Chris is a very good teacher and a genuinely nice person. The course had paid for itself within the first two hours from the knowledge that Chris passed on. It has changed the way I think about trading. Kind regards, - Gary Brennan, Glasgow, Scotland. In addition to practical trading skills, Chris has also given me a foundation to learn and apply real world relevant economic information to many facets of everyday life. Even if you never trade, this course will still pay for itself in no time - Brad Duran

Nice to be trading from a position of empowerment and control. Minimizing risk and maximizing reward... Awesome! - Elwyn I really enjoyed the class, it is not only the excellent technical info that helps, but also the fact that you have the bigger picture of what it takes to be successful at trading. As well, we always appreciate your knowledge and tips on the economy as a whole, and other markets. Best regards - Pieter day trading tool

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