THE 7 WONDERS IN FOREX...

Have you ever wonder:

1. Why is that most traders lost money instead of making money?

2. Why everytime you open a position it seems that market is always against you?

3. Why sometimes the market seems stagnant and at times move like a big tsunami? I meant volatility...

4. Why people are still trading when they knew the risk is high?

5. Where on earth does the money comes from? (say when you make profit)

6. Who dominates the market?

7. What really moves the market?

There are answers to these questions for sure.

For professional traders, these questions are basics but to the green horns, these are among the 7 wonders that they need to really understand before they should start trading. If we could not even answer these simple questions, how on earth will us survive?

To me, doing something that you barely knew is ok, but you can hardly be successful in the long run.

There are simple ways, but I believe there are hardly any shortcuts. The best way to make money with a black box is to sell one instead of relying to one that you bought for 97 dollars.

Though the market patterns are recognizable, but to get in with a perfect timing requires skills, guts and patience. Sometimes you get it right but most of the times, it is normal to get it wrong. This is where risk management is vital due to our potential in making mistakes with our entry and speculation.

For the past 2 weeks, I am not doing very well as though I could bagged in over 500 pips for the week as usuals, but I lost over 500 pips as well that bring to a total sum of approx. minus 50 pips average by the closing of the week.

The system's attacking wise is ok. I just need to work on the defense. Just like a soccer game, there is no point of scoring 5 goals if your defender conceded 6 goals by the end of the 90 minutes.

I guess I need to find ways on how to play the games with clean sheets as well. Perhaps defensive trading is the answer.