Many of us entered the Forex market without realizing its consequences; we were motivated by the fact that you could make huge amounts of money from its geometric appreciation with just little cash …which is not a lie…we worked, saved, borrowed, begged, duped and probably stole to make the quick cash that we were told we could make, we learnt all we could in a hurry and we traded in a hurry and we all know what happened…in a hurry the money left. All the fuss that this business created in the beginning has died down, everyone burnt is still licking their wounds, some others are now discouraging others from the business, and they all forgot that high rewards stems from high risks and that this market is volatile. Victims are quick to speak evil about the market and some don’t even want to hear ”…Fo…” but I am asking…WHAT DO THEY KNOW ABOUT THE MARKET?, how well was their mind prepared for the business, if they had success, how would they have grown the business?…in a rash manner perhaps. You can’t win any game no matter how good you are if you don’t know the rules.
I am here to revive that fire, I am a living witness and a partaker of the foolishness that ruled we all then but if you are wise then you’d realize that it is in our foolishness that wisdom is birth…I am a testimony HAPPENING. It makes no sense for me to live a business that I have invested so much time and money in and one that I know that the people making the money are not using black magic…believe me …its not revenge oO!! but I am going to get back what it took from me with profit, so if I have a witness out there can I hear Ohon!! Ohon !!!
I realize that human-beings tend to do exactly NOT what they are told to do, they like to find out…what will happen if…so I’ve decided to give you guys the “how to” and I know you’d do exactly NOT what you are told to do.
I’m about to release to you successful ways to get beaten up by the market… sure methods for those who have money to BURN, I would show you a step by step method you can use to depreciate your account so well you’d kill yourself believe me…it works,
and you’d agree with me that after you’ve learnt this method then you’d have at least a method on How to loose your money in the Forex market-
- Disrespecting this business: Assuming you own a business maybe a shop, you have to know exactly where to locate your business for maximum impact, you don’t just order anything to sell, you have to find out what is in demand, you have receipts to record you sales, invoices to record your purchases, distribution plans, marketing plans, hiring plans, you find out how best to please your clients as against your competitors, you know how much of your profit you want to place back into the business so that the business can grow systematically and at the same time not risking so much of your cash and having some for yourself, you’d be more focused on how to get it right than how much returns you would be making…I’m sure you get my point…therefore everyone would agree with me when I say that you cannot enter into any business without proper feasibility study. The Forex is not a get-rich-quick business for those starting out but it is for those who have sat down and understood the business, it requires as much feasibility study as any other business and as much attention as other business. Give it what it requires and it would give you what you want My Advice: Attend Forex seminars, read motivational books as you can never be over-motivated, read Forex manuals or e-books, study the market trends, news, articles and publications relating to the Forex markets
- If you have $3000 in your account, divide it into two and use half to enter a trade: This is so important as you can win a lot as well as loose a lot depending on the leverage you are using. Managing your account in a very rash manner is the best way to put the whole of your head in the Tiger’s mouth…you can even use the whole of your capital as you can make tremendous amount of money as well as losses – if things go bad for you…and trust me, they definitely will -. And the beautiful thing about this strategy of loosing money is that you can be a guru in whatever trading analysis you are using and it would still hit you. Managing your account has nothing to do with how well you execute your trades but everything on how you value the business My Advice: Check this logic out, if you use 10% of your account meaning you divide your account in to ten places and use one portion of it – in this case $3000 – with a leverage of 100:1 (which I advice because of the greedy nature of man) you’d find out that you’d have to use $100 (plus approximately $25-$30 give or take depending on the current price of the currency pair you are trading) to execute a one mini-lot trade, but you have $300 from your $3000 to start your trading mission so you can do three mini-lots, so assuming you do three mini-lots with a stop loss of 30pips (which I also consider the maximum you should use)for every trade you execute meaning you are risking approximately $90 per trade, you’d need to loose 20 consecutive trades to have your account balance to $1000 give or take $200. Bottom line, this being a worse case scenario I don’t think you can loose all $3000 in two months…I mean what kind of person who calls himself a trader with this kind of hash parameters given above would make 20 consecutive loses and not a win from what ever strategy he/she is using…learn or leave.
- Add more lots to a loosing position, trade or account: This is how it works, after a trade has gone against you, add more lots to recover from your former losses or if are in a losing position or trade add to it by increasing your stop loss as it might turn around in your favour or if your account is depleted, to recover in the shortest possible time increase your lot size for more profits. Some traders love to follow the sadistic advice that to recover from a loosing trade or a loosing streak you have to add more lots than you used initially to quickly recoup…this is likened to chopping your skin layer by layer My Advice: When or if your account is depleted or if you had just lost a trade, use lesser lots to keep you in the business until you can stand on your feet. An increase in lots size to a loosing position shows that you’ve left the business and are now running on emotions focusing on the money rather on the process…quit trading for a while, analysis your mistakes and continue your trades on a demo account until you are confident again of your strategy and analysis. If you are in a loosing position do not adjust negatively the level of your stop loss as it means that your analysis was not complete before entering the market and you are hoping for a turn around and holding on to a loosing trade, you don’t hope in this business without proper analysis…what I mean is that you should use less hope and more analysis…be cold as ice, do not be anxious to enter the market, always wait for a proper and timely entry point and place your stops at the proper places.
- The use of stop-loss takes out your money…Don’t use it - yeah right!!!: When you enter a trade and have set a take profit point usually they tell you “do not to fill in your stop-loss as the market would turn around, go against you, then turn to go to the direction you analyzed and anticipated therefore kick out stop-losses in your trades as they cut you off from trades and they are for amateur traders”,… and have your account and your health deplete at the same time. Think about it, stop losses are not there to make you loss money but to protect your investments, this market can decide to change at any time, no trading strategy is a hundred percent pure as investments and trading is more an art than a science therefore there are days when the market does not comply to a strategy or you did not see all you were supposed to see to make a sound trading decision or you don’t just understand why the market is going against you; this is where you need a stop-loss…to cover your mistakes My Advice: Always use a stop-loss when entering a trade - maximum 30pips, some traders considers this too much however it is manageable. Place your stop-loss about 5pips from a rally when in a short position and a dip when in a long position.
- Disregarding a good trading system: Some people look at the movements of the candle sticks and calculate its worth i.e. the range between the open and the close and tell themselves “if I had entered at the beginning of this candle I would have made so…so and so, I think the next one would move this way…I should enter now!”. They enter the market based on feelings and guesses, get lucky a few times then allow greed to set in. These people-not traders- usually fall and land with their heads first. Having a trading system to follow explains the business for your understanding, kills every emotion involved in trading and produces great profit opportunities. My Advice: Get a proper trading system - one that shows you proper entry and exit points, how to manage risks in your trading and protect your investments, how to control your emotions when and if you gain or loose - and follow it, do extensive back testing and/or demo trading so that you trust the system, experiment with a little cash as this actually helps you know your emotional status and reactions in relations to actual wins and losses so that you can adjust your emotion.
In conclusion without actually concluding, you can see that it doesn’t take much for you to loose your money. For those who bailed out, I’m sure that if they tell themselves the truth they would find at least one reason they lost their cash…”he that builds a house should sit down and count the cost”…anyone still interested in this business would not give up but rather change their attitude towards the business and persist until it works…nothing goes for nothing…if you are wise, you’d learn from your mistakes and take every money loss as ‘school fees’ but if you are not…you can ‘knock yourself out’ with these wonderful means of losing your cash…till I come your way again with interesting ways of surfing and not surfing on the tides of the market of the milli…sorry…billionaires, remain on TOP.
