Read this before you place another trade...
The 3 most dangerous lies in forex
If you're having problems with your trading, or struggling to get off
the ground, I guarantee it's one of these lies that is stopping you from
picking up consistent profits...
What can go horribly wrong when you’re a slapgat on the couch
Before I delve into the three things you need to do every day before you open your trading account, you need to know what can go wrong being a slapgat.
Firstly, you know you’re going to be risking your own hard earned money when you take a trade.
If you have the TV blaring, kids running around you and a beer in your hand so many things can go wrong.
You’re on a couch with a laptop on your lap. And when a trade lines up, you need to make a couple of calculations before you even get in.
Calculation #1: How much money, of your portfolio, are you going to risk in a trade?
Calculation #2: Where are you going to put your stop loss in relation to your take profit?
You are at risk at putting in the wrong numbers. And when you do this, you go against your trading strategy completely which can skew your expected results.
And if you’re lying down, when it comes to taking a trade, you might press the wrong numbers by mistake. This is where you can buy a whole lot more than you expected to.
And when you buy more, you risk more of your money.
Don’t get me started with the TV.
If your favourite show is on, you’re not going to put in the time and effort in your trade when a hectic scene shows up. In fact, you’ll trade half-heartedly and not think properly.
You might even forget about your trading altogether. This is where you can:
• Miss your entry with the trade
• Forget to fill in all the trade levels
This is where the Billions TV episode would have cost you thousands! Where a spilt beer could have made you miss a profit opportunity.
And that one profit opportunity, could have sent your family to Durban for a weekend.
So, stop being a slapgat and take this seriously and professionally. I want to help you make money, not the opposite.
Do these three things every day before you even open your trading account!
By now you should understand why it’s important to stop being a lazy bum when it comes to your trading. And so here are three things you need to do before you even open your trading account.
#1: Prepare your work station
You need to choose a room that has sufficient and bright lighting. The room should be around 22-24 degrees.
When you’re working in a room colder than your body temperature, you’re brain will be more alert and will keep you more awake to trade.
You need to make sure your internet connection is strong. Whether you use 3G, LTE or Fiber, those are perfect. However, your internet needs to have a speed of at least 4MB per second.
This is so you can watch the markets live without interference in connection.
#2: Have what you need to trade your winning strategy
If you have an Acer, Apple laptop or a desktop, either one will do just fine.
But what I do suggest is that you can connect your computer to another screen.
One screen will be for your trading charts and the other will be for your trading portfolio.
Also have a calculator by you with your guide or book that will help you with your winning strategy e.g. Six Forex Profit Patterns.
#3: Get rid of all distractions
Ok now that you have your desk in order, you need to clear yourself of distractions.
Make sure you have a clean desk with only the absolute necessities you need to trade.
Those wannabe traders with tons of trading books on their desks and 13 screens, are only fooling themselves.
And as for Bllions. Record the programme for later or schedule it for another day.
Put your phone on silent, stay clear away from social media.
And only put on soft music that won’t disturb your thinking process. Also, tell your family that you don’t want to be disturbed when you trade as you need to concentrate.
Tell them that when you’re in the room, you’re working on the next Durban or Disney World trip for everyone.
And that’s it.
You’re now ready to trade professionally and profitably.
Author Note: PS: Need a profitable strategy to have with you every time you trade, then cut 13 years of trying into just one day by owning the Forex Profit Box.