EURUSD : What I learn so far (Part3/3) for FX_IDC:EURUSD by i_am_siew

If you are new here, please take some time to read up on the previous 5 postings. You will benefit a lot from it.

Well, some of you might thinking, is this a false breakout? I tell you it is not. If you have been a keen disciple of Demand & Supply, you should know how to separate what is true and what is false. Those who worried about false breakouts are those who have no idea what is happening anyway.

Why are we here? Just ONE reason and that is to make money.

How do we make money? Follow these 3 steps:

1) use common sense.

2) trade just ONE instrument at any one time, all the time. For me, I chose to trade EURUSD only. The reason is simple, you only have enough time for just one. It requires your FULL and UNDIVIDED attention if you are to succeed. Remember, we are here to make a profit. Not to dabble in this and that.

3) Trading is based on FACTS. Facts are things you can SEE, VERIFY and QUANTIFY. The opposite to trading is GAMBLING. Gambling is based on HOPE, PROBABILITY and LUCK, which means you have no idea what you are doing. If you know your facts, you have no worry at all. Your decisions are decisive. You may not even need a SL (I will talk more on this later).

Always remember this –> who gains when you lose money? That would be the ‘brokers’ aka casinos. Do they want you to win or lose? What would they do to achieve that aim? Simple, they would spread information and provide techniques for your consumption. They love newbies. Where? Where there are lot of people trading. Here? Yes.

Hey!, this guy’s IDEAS seems so popular. ‘A lot’ of people liked it. It must be good. There you go!!! Do not be so naïve.

Like I say, always use your common sense. You must learn to separate the what works and what can’t. If you don’t, you will forever be among the 80% who lose money.

I started learning 2 years back and I finally understand a bit about this business. I hope you do too.

Take care and happy trading.

P/S : As always, do not just believe what I say, use your common sense.

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