Monday, November 12, 2007

Are You Ready To Trade ?

Are You Ready To Trade?

I can't tell you how often I speak with Forex traders who spend a lot of money on the purchase of a new trading system, and then plunge directly into live markets without taking the time to fully understand the system and paper trade with it before risking their investment funds.

This inevitably leads to trouble and thousands of dollars in losses.

While it's not necessarily the most sexy trading topic, the right trading preparation will save your butt.

And this is why I'm writing about this subject today: to spare you unnecessary losses that come from a lack of preparation.

Don't let this happen to you.

Make sure you have a trading plan that covers all the bases and test it BEFORE YOU TRADE.

Your trading plan should include:
 . your criteria for entering a trade
 . what to do if you get in and the market 
moves against your position.
 . how and when to get out when the market 
moves in your direction.

Failure to be prepared in these areas can
lead to unnecessary and large losses. Of course,
losses are going to happen in trading. There's no
getting around it. But, to experience losses
that could have been avoided with a good plan
is unfortunate.

Fortunately, with Forex Profit Pro, all the
contingencies have been considered ahead of
time. Before you place your first trade
with Forex Profit Pro, you'll know EXACTLY:

 . how to position yourself to win regardless of 
whether the market moves up or down
 . which currency pairs to trade
 . the optimum time-frame and time of day to trade
 . when to enter and at what price
 . when to exit
 . where and how to set your stop losses

You will know what you're doing and have a plan that covers all the bases BEFORE you start trading. Understanding and committing to your plan-AHEAD OF TIME-will give you the confidence you need to stick with it when your emotions might dictate otherwise.

You'll be able to surf the currency waves without getting sucked into the psychological undertows and tsunami's that claim so many
unprepared traders.

So, whatever system you trade, be prepared first.

Catch you on the pip side,

Ken Herbert

P.S. When you become our client, we make sure you are prepared with a trading plan and a whole lot more.


P.P.S. If you have any questions or would like to talk with us, we're only an email or phone call away.

No comments: