Are you ready to trade with the big sharks and banks? Even if you are not, they are on the opposite side of the trade. Learn to execute and think like they think.
Crowd psychology is what they use to move the market. You ether learn to think like the big guys or you are taken out quickly.
How about what to do if you get in tangle? Are you ready to hold, or should you hold the trade? Can your gut stand the big loss that is facing you in the screen until the trade turns around?
Crowd psychology of trading is one of those subject, that is regularly and largely overlooked by traders. It is looked upon as unnecessary waste of time. After all who cares about psychology let's make the first million and then we will see.
As it turns out the first million is far a way so is the dream of ever quitting your dreaded job and leaving for a perpetual vacation. Learn and avoid the most common mistakes in a beginner newbie FOREX trader mindset.
Don't become part of the crowd for slaughter by the broker. Fear and pleasure drive almost every one of your decisions. There is a big difference with the market, see the market itself is driven by fear and greed, but at any particular moment the market doesn't recognize your condition.
You can not be mad at the market or pay back the market for previously hurting you. The market doesn't care it will hurt you as many times as you take a decision based on emotions. Knowing how to react and when to react to the market is what this book will teach you.
How many times you have pooled the trigger 1 minute too soon and closed a loosing trade, just to see the price come back to your entry and take off in your direction, like there is no tomorrow.
Those are the moments that separate the big traders from the losers. In a matter of fact I will give you a secret even before your buy this book. What I just explained to you in the paragraph above is the broker's favorite bring the sheep to the slaughter technique. See the Forex market is huge, but it is controlled to an extend at your participating broker. You have to realize by now, that the broker stays at the opposite side of your trade.
Do you think that the broker is willing to loose. Why should he, he has a big platform, the broker can see all your stops. If your stop happens to be in a area with high volume of stops made by the other retail traders, you are ready to burn, I can already smell the smoke on you.
So your average broker is stops hunting, and plying with the spread especially during news release. Pulls the price in one direction, then switches direction, can you stand still during that magic trick? If you move, your candle will burn. But this is the sort of stuff that this book will teach you. This is not a hypothetical staff or something that I read about, this is practical advise from the trenches.
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- Sold by: Amazon Digital Services, Inc.
- Language: English
- ASIN: B006OQLEVS
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