The Money Pile (19 of 26)
Make a little bit everyday. Make a pile of money. Don’t and make a money pit.
When you can do this illustration in a demo account then start trading live.
Lets take a $1000 account for example:
Make $5 a day for 250 days a year = $1250 .005% per day
Make $10 a day for 250 days a year = $2500 .01% per day
Make $15 a day for 250 days a year = $3750 .015% per day
Make $20 a day for 250 days a year = $5000 .02% per day
Now get a part time job on weekends where you can net $40 per week. 52×40= $2080
Save the $2000 and put it in your trading account in a lump sum at the end of the year so now you start with:
$3250 $16.25 a day for 250 days a year = $4062.50 + $3250 = $7312
$4500 $45.00 a day for 250 days a year = $11250.00 + $4500 = $15750
$5750 $86.25 a day for 250 days a year = $21562.50 + 5750 = $27312.50
$7000 $140.00 a day for 250 days a year = $35000 + $7000 = $42000
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Use Time to Monitor the Loss of a Trade (17 of 26 and A New Years Deal)
You can determine that you will get out of a trade before a news announcement or you will not carry a trade over a weekend. These are good ideas if you are in a trade that is going against the trend. Many times the market will move because of news, then just return to the direction of the overall trend.
This is the last day to take advantage of our New Year’s Deal before it expires. Its a great time to test out our course. Use this Coupon and get 50% off Launch Pad!
New Year Coupon Code: 78E57
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Amazing Coupon Code to Bring in the New Year!!
Its the start of a new year, the beginning of new possiblities and resolutions. We wanted to be one of the first to say ‘Welcome to the New Year!’ and we wanted to do it with a bang! Below is a coupon code to buy Launch Pad at 50% off!!! We hope this will help your new Forex and Money Making resolutions come true this New Year.
New Year Coupon Code: 78E57
Redeem it here: Launch Pad Forex Trading Course
You only have January 1st and 2nd to use this code and redeem this New Year deal.
Remember as always our products come with a 30 day guarentee, if you don’t like the course then just fill out a simple survey to let us know why and we will refund your money completly. Now is the perfect time to see what the rage around forex is all about.
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Become Good at Losing
We get a lot of questions and comments about what this means. You should know by now that you will lose sometimes when trading. That does not mean you will lose all of your account unless you use poor money management techniques or none at all. It means don’t get all emotional about a loss they are going to happen and the sooner you can get over it and move on the faster you will become a good trader.
Accept the fact that you are going to have losing trades throughout the day or week. Get out of your losers quickly. Love to get out of your losers quickly. It will save you
a lot of trading capital and will make you a much better trader.
(WATCH FOR OUR NEW YEAR DEAL TOMORROW!)
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Speculators Always Lose (15 of 26)
I have never met a successful speculator. It is impossible to speculate and consistently have large wins. Don’t be a speculator. Be a trader.
Trading in the direction of the trend on a 1 hr or 4 hr chart is always a good way to trade. Use good money management techniques with proper stop loss settings and you will be way ahead of the speculators. Most traders that do scalping are not profitable. There are some that can do it but they learned at great expense.
(WATCH FOR OUR UPCOMING NEW YEARS DAY DEAL!)
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Don’t Worry About the News (14 of 26)
Don’t worry about the news by the time you read it, it is history.
Early in my trading career I was told to not listen to and TV or radio financial news. Stop reading Magazines, and newspapers about the financial markets. Learn to trade with what the market is give. Trade with what the market is doing right now. I have never understood why so many electronic traders listen to or watch CNBC, MSNBC, Bloomberg News or FNN all day long. The people reporting the financial news on these programs know very little about market dynamics and market price action. Yet they claim to be experts on everything. Treat the news and the reporting of the news for what it really is.. Entertainment.
When you hear the news it is already old news. The story has already been dissected and consumed by the professional market participants long before the news has been disseminated. Do not trade off of the reporting. It’s too late.
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Don’t Turn Your Trades into Religious Trades (13 of 26)
If you think about it if you are praying for a trade to go one way there are others praying for it to go the other way. So the divine intervention you are seeking never seems to materialize. If you are using the praying method of trading you are not being disciplined and following a trading system with rules. The key here is when you start to hope and pray just get out of the trade!
We hope your holidays have been great!!
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The First Loss (12 of 26)
The first loss is usually the smallest and least painful.
When you know that the trade is no good it is best to get out ASAP, do not hesitate or delay or try to think It through just close the trade. It has been said that it is never a loser until you get out. It will come back. Once these phrases are stated, it is an affirmation that the trader realizes that the trade is no good, it is not coming back and it is time to exit.
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Stop The Pain Close the Losing Trades (11 of 26)
You are not a loser because you have a losing trade on. You are, however, a loser if
you do not get out of the losing trade once you recognize that the trade is not going to come back. It’s interesting to note how accurate your instinct is as a market indicator.
If, you have the idea or instinct that the trade is not going to work then it’s probably not going to work. Just close the trade, clear your head and emotions and get on with the next trade.
Every trader will have some losing trades throughout the day or week. Each day or week of trading we should have some losses, breakevens, and winning trades. The goal is to be profitable at the end of the day or week. Close the trades that go bad, don’t worry about the trades that broke even and make sure the winners are larger than your losers.
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AND THE WINNER IS….
Thank you to all who participated in our contest. It was a success for sure and we are happy now to award one lucky Jump Start member with Launch Pad for free!!! Also our first 50 particpates like promised will receive a coupon code for 25% off Launch Pad. We will be emailing that to you with in the next few days.
The Grand Prize Winner is…. John Tsai!!!!!!
Congratulations!!! We will send you an email with the further details but we are so excited to award this to you! Enjoy it this holiday season and Merry Christmas!!!
It was really fun for us to hold this contest and we plan on doing more in the future. Let us know what would make it more enticing or fun to enter. Thanks!
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