Forex pinbar magic – high probability, low risk trading!

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from: ed derovic date: thursday 8:30 am so here’s a common question: why do most forex traders lose money? because they don’t follow a proven system that makes money. And when they follow it they don’t stick to it. They diverge into trying new strategy after new strategy as soon as one strategy hits a losing trade. They keep on looking for the holy grail. Looking for a ‘no loss’ system that will always win and never lose.

well let me reveal a well known secret to you. There is no such system that never loses there can’t be, its impossible. Actually, it is possible if you’re willing to wait forever, but who’s going to live forever? imagine someone that bought gbpusd when it was at 2.100 a few years back. How long would they be waiting to be bailed out? trust me, you don’t want to put yourself in that kind of a position.

a recent study that fxcm did of their traders concluded that over 50% of the trades taken on their platform were profitable but only about 35% of traders were profitable

they’re risking more than they’re winning they might risk $100 every time and then making $50 when they do win. They may win 60% of the time, but the 40% of the time they do lose, they’re losing much more.

so the hole gets bigger and bigger and they don’t know what they’re doing wrong. Successful traders – you know… The ones that makes a minimum of 6 figure incomes – they have these two understandings ingrained in them:

now lets face it, some of the systems …read more detail

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