This web-page may annoy many and probably most 4x traders and I don't care. I do not worry if any of you read this post .
And it is secondary to me that most 4x traders are gullible or at best, ill-informed. It's secondary to me that I make serious money every day consistently and most fool traders lose the lot.
The fact is that most fx traders are drones who blindly drift along a confused path of sales pitches of lazy ways and greed and most forex experts are only Internet marketers claiming "expert status" and who are only trying to sell the great unwashed something under marketing hype of "guru".
I have no status but I reliably and typically make a routine $30,000 clear profit almost every trading day and I haven't any interest in selling you anything. There's nothing you can purchase from my website.
With the introduction of computer-based Platforms Trading, the telephone-voice but often criminal fx broker cut out of man-in-the-middle market scams that dealing-desk forex trading was once rife with - we retail traders possibly more than an honest ability to profit from the markets. The Platforms Trading mechanism is more fair. Though there are still forex brokerage houses that steal your trades via platforms trading - mostly it is merely idiot trading that gives rise to losses.
Having gotten that off my chest, let us now address the most confronting idea out there to be considered so you can all heave your guts up, and get all bent out of shape that I am an escaped mental patient. Here we go;
"Stop Loss triggers do NOT STOP Losses - they CONFIRM LOSSES".
I state it is wrong to close 4x trades that are showing a loss when with ninety five percent the trades can be exited from with profits at some other time.
Let me be extremely clear about this - any fx trade that losing ground now will typically be in profit at some future time because of constantly changing market sentiment, news event, Fibonacci retracement or sudden sovereign intervention - almost always a negative price action today is tremendous tomorrow.
And because of what I am saying about future price is very true, closing a bad fx trade ever is nonsense!
The better course of action to take with respect to losing 4x trade is hedge that trade by opening an opposing trade. That hedged trade immediately equalizes any and all further damage to your bottomline and it gives you time to reflect on what you action next.
Frequently when and if price action continues to go against the first trade - I then hedge again and it is common that I will hedge a bad trade five or ten times!
Eg, say I sell a lot which then goes bad which I immediately hedge - and I usually hedge it at the price most idiot traders would have exited it with a stop loss trigger. As the price action is now going crazy in favor of my hedge, every solid chance I get I will open further hedges. By this method my total equity is well above where I was with only the one hedge, and certainly I'm way into profits ahead of the sheep who would have used a Stop Loss concept.
When last year the USA's NFA tried to inflict its will on the retail 4x trader banning its member forex brokers from allowing hedging. What a fool the NFA made itself out to be - given that all professional and smart money simply took their business outside of the USA. The effect the NFA had was to weaken the USA as a financial center; the NFA confirmed London as the home of most forex currency action.
Even those brokers with United States operations simply moved those cash accounts who demanded hedge capabilities off-shore - end of story. Smart money demands hedge capacity. Idiots with stupid money don't hedge uses Stop Loss trigger.
This post is directed at the center of one of the most idiotic concepts ever to do with forex trading. It isn't rocket science people - but seems this sense is not so common.
Philson Beckett is a fulltime forex trader, not an Internet Marketer. He is opinionated and known to contradict mainstream thinking with his fx trading style. Bringing in $7,000,000-$8,000,000 net profit per year from his well equipped home-office, he feels no need to participate in mainstream 4x meeting places and debates. He does offer some ideas about
Platforms Trading from time to time and further
Trading Platforms discussions which have zero loss concepts.
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