Forex Secret #5-When Close Enough Isn't Close At All

Having trouble viewing this? Check out the online version. FX Secret #5 When “Close Enough” Isn’t Close At All   Dear FX Top Gun, If your homebuilder put your house together within .01 inches of the specs, he’d be called a master builder to the tenth degree. But if you get that sloppy with your FX trading, you’ll be dead in the water. And, believe it or not, for many traders, the difference between great profits and horrible loses is just that simple… they just need to be a little more exact in their numbers. Yup, there’s no doubt about it… sloppy, loose, non-exact, lazy figures are why 95% of FX traders get eaten by the sharks. Here’s the good news… Simple Problem = Simple Solution I love this secret to FX trading because the answer is so simple. Without any skill level, training, or practice you can fix the problem immediately… and get results immediately. Want to know how you fix the problem and boost your profits? All right, listen carefully…   Only use indicators that can accurately tell you the EXACT price in which to enter and exit the market.   I told you it was simple! If you are using pivot points, for example, and want to short the EUR/USD when it hits a resistance pivot point at 1.3500, then that is a valid entry price for your trade.  Don’t move it up to 1.3505 or drop it down to 1.3495. If 1.3500 is your target, then use that EXACTLY. The same is true if you are using pivot points for profit targets.  Using the same example, if the next support pivot is at 1.3450 (not 1.3455 or 1.3400… it’s 1.3450!), then that is a valid exit price and an accurate one.  This allows you to know your trade set up well in advance and you can put that trade on with no emotion (And remember, being able to trade without emotion and follow a pre-set strategy is absolutely key to winning big with Forex.) Using these numbers, setting up this trade would look something like this:   Short EUR/USD at 1.3500, Profit Target at 1.3450, Stop loss at 1.3515.   It’s a good idea to limit your downside risk to 10-15 pips above that resistance level since that would make your trade invalid, as price did not hold at that point.  Then, let the trade go. Obviously, the key to this whole thing is having indicators that are accurate and give you EXACT numbers. Without those kinds of precision tools, you will definitely find yourself among the 95% of FX traders that lose money. And I’m guessing that you don’t want to be there... I’m guessing you’d much rather crank out profits month, after month, after month… As you know, not long ago I took my 11 plus years of FX trading experience and decided to roll it all up in one location. Well, OK, not ALL my experience, but a healthy chunk of it to start off with… and then I’ll add more stuff as we go. But for now, I’ve set it up so folks like you can get access to all the tools and MOST of the tips and tricks I use to crank out such incredible profits (3 years running at over 301% annual profits… not shabby, eh?). If you don’t know about all the tools I’ve posted at www.fxnationlive.com, maybe its time to see what you’re missing out on… it could be costing you TONS of profits. Here’s To Your FX Trading Success, DC Bonta, The world’s #1 FX money manager   ************************************** Editor’s Note: DC recently reported a 338.14% compounded return in just 6 months (that’s turning $100,000 into $438,132). He is currently offering – on a limited basis – the opportunity to receive personalized daily training. DC will show a select group of traders exactly how he is able to produce these kinds of returns. Click here for more information. ************************************** You have received this email as a participant of the FX Nation Live program...!unsubscribe_link! Risk Disclosure Unique experiences and past performances do not guarantee future results! Testimonials herein are unsolicited and are non-representative of all clients; certain accounts may have worse performance than that indicated. Trading stocks, futures, options and spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss.  U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Forex, Futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. 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Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets. Don't trade with money you can't afford to lose. Nothing in our course or website shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.