This Piece Of Junk Forex System Does NOT Work!

Boy oh boy, if I had a Dollar each time I heard one of my trading buddies say these words. Sure, it can be a bit funny but it’s never any fun for the person that’s actually saying it.

So what do you do in this scenario?

Well, the first thing to do is calm down. You’re doing yourself (and others around you) no favors by getting upset. It can be very frustrating to see your beloved trading system taking a knock but hey, that’s life. Shouting, ranting and/or raving does not solve the problem.

It’s true, not all trading systems are created equal and there is a chance that you may have a real lemon on your hands but unless you test it out, you have no way of being certain.

Remember, losses are a part of trading and they cannot be avoided. Even the best traders on the planet sometimes have a string of bad trades. It’s just a part of the game and there’s no getting away from it. A lot of the time, a trader will suffer a few losses and throw in the towel before they give their method enough time to recoup those losses.

In situations like this, it doesn’t mean the trading system has failed, it means that the trader has failed to follow through.

Fail To Plan And You Plan To Fail

It’s easy to get carried away when trading, especially when there is real hard earned money on the line.

A lot of traders forget their plan and start taking liberties with their trading but it is easier (and in their own best interests) to stick to the original plan.

Don’t try to outsmart the market, it doesn’t work. Don’t try to tweak your system and make it better, in most cases, that doesn’t work either.

STICK TO THE RULES!

The rules are there for a reason. It is to remove all doubt and creative thinking on your part. Creative thinking in Forex often leads to disaster. You need to condition yourself to be able to follow the rules no matter how painful it may seem. That’s the trick to being a successful trader.

Ignore everything your mind throws at you, just follow the rules and you will make money. If in doubt, refer to the rules once more and get yourself back on track. When you reach a point where every trade you pull off looks exactly like the last one, you’re well on your way.

That’s what it is all about, being able to repeat the trick time and time and time again.

Many forget that while they have a string of 4 losses, just prior to that, they had a string of 8 winners.

You need to look at your results collectively. To get an accurate view of how a system performs, you need a lot of trades over an extended period of time. This will ensure that you’re getting a wider view of the results and not just looking through a small window. You could be looking in at a period where the market conditions were terrible. This means that you miss seeing the periods where the market conditions were favorable and the system thrived.

“But it’s my money on the line!”

Yes, if you’re losing money like water through a dripping tap then something needs to be done. The simplest solution is to reduce your lot size down to the bare minimum and put the system through its paces. Build up your confidence, see the bad times through and you will inevitably find that you will hit a good streak too.

Jumping from system to system will only result in more losses at a greater expense to you. Have the strength to see a bad patch come to an end and you will find you will reach a major milestone.

You see, once you can do this you will realize that it’s not that bad and the bad patches only last for a short while. It will help build up your immunity to bad patches and help you see them through without pulling out your hair.

Trading is a mental game and this is where the battles are won and lost. It’s only after you go through the bad and come out the other side that you will truly understand and appreciate this business.

Don’t be afraid of losses, they are a part of the game and the same rules apply to everyone. Stick to your plan no matter what and work towards getting to the phase where you can repeat the trick every time, and you will find your trading experience will be an enjoyable and truly profitable one.

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