Fortunes will be made in the upcoming months and years and your taking part in fortune-building will be dependent on two things:

1. Having a trading system/plan that has been tested and that you can trust in
2. Having the discipline to run that trading system/plan without hesitation

You see, it’s not about (and never has been about) ‘the market’ when it comes to making money. It’s about YOU.

Your trading plan and YOUR ABILITY to execute it.

Norman’s 4 FREE Special Reports will put focus, balance, and confidence into your trading.

They won’t be free for long, so grab them now…

Click Here to Download These 4 Reports for FREE Now!

]]> http://stock-trading-advice.com/news/trading-discipline-special-reports/feed/ http://stock-trading-advice.com/news/stock-training-for-newbies/ http://stock-trading-advice.com/news/stock-training-for-newbies/#comments Wed, 14 Apr 2010 04:21:29 +0000 admin http://stock-trading-advice.com/news/?p=115 Are you a “newbie” when it comes to stock trading?

Are you a little overwhelmed by all the information out there that promises to put piles of cash in your wallet overnight?

Do you have a sneaking suspicion that some stock brokers are lying through their teeth & simply out to “screw” you so they can add another Mercedes or BMW to their fancy car collection?

Do you feel unable to make any progress toward your dream of quitting your job because no matter how bad you want it, you just can’t afford to pay for $2,000 or more stock market training?

STOP!

I know exactly how you feel, and that’s why I’m glad I found this frank, straightforward, and “no B.S.” video presentation – It leads you to a TON of “dirt cheap” stock market training that will give you the upper hand when dealing with brokers… & a big edge over all the other frustrated & clueless “newbies” out there.

So, sit back, relax, & see if you relate to this “stock trading tale” here: WATCH NOW

(Make sure you watch the whole thing, because I think you’ll be ”floored” by what’s revealed at the end.)

Just a couple of years ago, the foreign exchange markets were dominated by the big brokers and major banks around the world. Today, the ‘little guys’ have gotten in on the action — and the growth in currency trading has increased from $1.9 trillion to nearly $3 trillion in that short space of time (that’s the average daily turnover in the markets – a 50% growth in turnover).

But why should you trade Forex?

First, the Forex markets are highly liquid (in the major pairs) and have a strong tendency to ‘trend’ regardless of what is happening in other markets (stocks, commodities, bonds).

That liquidity also creates constant volatility — and the volatility is where the ability to profit from those trends happens. The greater the volatility, the greater the profit potential.

Second, the stock markets have been beaten down, rallied, fallen, rallied — and there are strong indications that another ‘fall’ is coming. The uncertainty in these markets is keeping them from a specific direction, or trend. In the Forex markets, however, traders don’t have to worry about “bull” or “bear” markets — the currencies are always in a trend (whether up, down or sideways).

Furthermore, the financial upheaval driven by the credit crisis and the massive government responses means investing or trading in the stock markets will never be the same – but these same events helped to create even greater opportunities in the Forex markets.

Forex trading is not without risk – and frankly, most people approach the Forex markets completely wrong. The current economic and financial conditions make this one of the best times to take on Forex trading, but only if done correctly.

35+ year trading veteran and forex educator, Bill Poulos, has recently released a new video on the RIGHT way to approach trading Forex.

See, most traders go into forex trading with the idea of getting rich quick. And they come out pretty poor.

What Bill shows you is how to get into trading forex by managing risk FIRST and taking profits SECOND. It’s completely turning the forex community upside down.

Watch this free video — see if you disagree with him.

As we’ve talked about before, if you aren’t managing your forex trades, from entry point to exit point, you’re going to see this happen to you – and it will likely happen often.

Here’s the root of the problem:

A trade is entered along with an initial stop loss. What most traders do is try to get ALL their profit at once, but they don’t actually have a ‘target’ –

When the trade initially gets profitable, many traders will ’screengaze’ — they get focused on how much they’ve made or are making at that moment. What they don’t do is plan for exiting the trade — they overstay in the trade and frequently watch their profits evaporate when the market turns against them (and then compound that error by staying in EVEN LONGER to ‘get back’ those lose profits). This is a losing proposition in forex trading.

In short, they let GREED cause them to lose sight of the purpose of the trade.

What is the purpose of a trade? To maximize gain and minimize risk – it IS that simple.

Maximizing gain does not mean you exit a trade at the absolute ‘Top’ – it does mean that for the duration the trade is on, you have a set of rules that determine where you’ll exit for profit – and it isn’t where YOU think it is! More on that in a bit…

Minimizing risk means more than just setting that initial stop loss — you MUST manage your stop losses throughout the duration of a trade.

When forex traders enter a trade they must protect their capital first and think profit second. When their position starts trending up, they can take the right action to protect their capital AND their profits.

In fact, most successful forex traders ASSUME they’ll lose on every trade. They perform this psychological trick to make sure their risk strategy is always top of mind! Once a trade turns in their favor (much to their surprise), the first steps they take is get themselves into a break-even trade situation; followed by aggressive stop loss management to maximize their profits on the trade.

They think risk first, profit second.

Watch this video to see how it’s done.

But there’s a real problem with Robots: They don’t work.

Oh, you’ll hear all the fancy talk about how so-and-so turned $10,000 into $ 150,476 in just seven days…

…but it isn’t true. It’s hype and it’s based on ‘hypothetical’ historical trading.

Fact: Most forex traders who use forex robots LOSE MONEY.

Truth: Robots lose money because they have disproportionate RISK MANAGEMENT rules built into them.

What the Robots go after are small, quick profits — 3 pips, 7 pips, 9 pips. And over the course of a series of trades, the Robot’s ‘Winning Percentage’ will be very high — 85-95% winners.

BUT the Robots have a fatal flaw: their stop losses are out of line with typical reward to risk ratios, usually on the order of 1:5 or 1:10 (that means you, the trader, are risking $10 to win $1. In gambling, this is known as “sucker betting” and you’re the sucker.).

Here’s what’s really going on with those Robots: The stop losses are set so wide that ONE TRADE can wipe out the profits from those “85%” winners. That’s because the gains you’re making on the winners are miniscule compared to the losses you take with the built-in risk – or lack therein.

Dirty little secret #2: The percentage of winning trades is inversely proportionate to the reward:risk ratio. The higher the percentage of winning trades, the lower your reward ratio; the lower the percentage of winning trades, the higher your reward ratio.

This means if a Robot claims to have 90% winning trades, your reward to risk ratio will be around 1:10.

Truth? Don’t fixate on ‘winning percentages’ — focus on managing the risk in every trade and keeping the reward to risk ratio in YOUR favor.

Watch this video proof of how this concept can radically change your forex trading.

“most experienced forex traders wait too long to move stops to protect their positions and frequently watch their profits disappear.”

And that wasn’t all — he went on to explain a simple concept, similar to Gambler’s Ruin that permeates the forex trading world.

Basically, once a trader sees profit in a trade begin evaporating they get solely focused on getting back the lost profits. They forget to see the need to protect the profits that they still have in the trade. The result? A reversal continues, the once-profitable trade becomes a losing trade and the trader’s frustration mounts.

I’ve seen this myself and it’s the easiest trap to fall into, because you convince yourself that the Euro just hit that intra-day high and it can get back up there! Except – it doesn’t and it continues to pull back until your 20 or 30 pip gain turns into a 20 or 30 pip loss.

That’s a pretty severe example – but have you had that happen to you?

What do you do?

Bill had an answer for that, too!

He said most traders don’t know what the available profit potential is for any single trading event — that is, they don’t set profit targets which allow them to take what the market gives them and then exit the trade in multiple steps. And, without a strategy that protects capital first and manages profits second, there’s no way the average forex trader can survive in the foreign currency markets.

In order to position yourself correctly, traders MUST have a multi-part strategy — one that teaches them how to identify the BEST available trades, clearly sets out a profit target, helps manage the taking of those profits and from the outset, teaches traders how to protect their precious capital!

He calls this managing risk first, taking profits second – and it’s really groundbreaking thinking.

Click here to watch the first part of his new free video series.

Here’s what we find is happening. Forex has grown in popularity so quickly that many traders who are new to forex trading have just waded into the waters, opened an account and have begun putting on trades without any real thought or planning to how to approach trading.

It should be obvious that the problem with this thinking is little to no understanding of how to approach trading foreign currencies and the significant risks to capital that it poses. All to often, new traders try to trade first and learn second.

And the result of that learning is the loss of their account balances. Hey, let’s be honest, trading on a demo account is never the same as trading with real money. You do not apply the same emotional control, the same trading principles or rules, you’ll take greater risks with the demo account and play too safe with the live account (often to your own loss).

Reverse your thinking: learn first, trade second. In fact, across the board, the need to reverse people’s mindsets about forex is what is needed. Learn the right way to trade first, and THEN take that knowledge to the market and trade with it.

As part of that learn first scenario – the NUMBER ONE element to trading forex that new, inexperienced or unsuccessful traders should learn is how to MANAGE RISK FIRST in every single trade.

Today, one of the most well-respected Forex educators, Bill Poulos, released a video that teaches traders EXACTLY how they should be trading forex. And, how traders can put more trades in their favor by erasing risk — it’s very cool thinking and it isn’t what’s being taught by most of the so-called ‘Gurus’ out there.

Catch the video here

By learning to manage risk FIRST, traders will find their trading transformed as they are able to approach forex trading with an entirely different mindset, a plan for erasing risk and a solid set of rules by which to trade.

That’s why when I came across this ‘sin’sational package, I was faced with a Dr. Jekyll and Mr. Hyde moment. I knew it really wasn’t cheating, but as I plowed through the information, it sure did feel like it.

Even as I compose this email, I wonder if I’m doing the right thing. Then, I think again and I know down deep that it would be a crime for me to horde these jaw-dropping tricks of the trade.

So I’m passing this along to you. Click here at your own risk.

Have I scared you? Ok, let me explain what you’ll be exposed to by downloading this ‘evil genius package.’

An Interview with the Evil Genius Himself

• It’s a ‘behind closed doors’ interview with an evil genius trader & system developer extraordinaire.

• I’ve had the pleasure of personally speaking with him before and can honestly say that with over 20 years of trading under his belt, Mark knows his stuff. (In our inner trading guru circle, Mark is known as that quiet guy who has alot going on ‘up there.’ You know, he’s not all about the limelight or craving his 15 minutes of fame. He’s much more calculated than that. I’ve seen people try to crack his shell, only to be met with a smile and a nod (and your butt whipped when it comes to trading!)).

• This interview exposes not only Mark’s clear strengths, but his embarrassing ‘slip-ups’ when it comes to his trade career. It’s *quite* the revealing interview…

Click here to listen to it now.

The Classified Cheat Sheet

Basically once this is implemented it will become the ‘make it or break it’ tool in your trader’s tool box. (You won’t even believe how fast & easy this can be!)

• Find out THE number 1 step-by-step plan to get a beginner trader up and running in no time flat.

• Discover what the heck this ‘trailing’ business is all about? And most importantly, how can it make money?

• An INTRICATE look at the nasdaq emini 144 tick chart.

• Plus 8 other ‘CliffNotes’ trade teachings that you can quickly skim and nearly pick-up through osmosis.

I know I’ve struggled with giving this out, but I must say I’m looking forward to watching you transform into the evil trading genius you were meant to be.

Click here to Download it now.

Happy Trading.

At 12 noon EST time, the doors will fly open to Options University’s Options Mastery series giveaway that you’ve probably been hearing the ‘buzz’ about all over the internet.

Click here for the web page you need to be “watching” at noon…

To recap…

If you’re one of the first 1,000 traders “in the door” at noon Eastern, you’ll receive:

• Option University’s flagship product, The Options Mastery Series (itself a $1,997 value).

• Complimentary unrestricted access to their new OptionsU Gold Members-only website for one week, with access to powerful software scanners, tools, and more…

• An CD of the Month from their popular Strategy Spotlight Series (a $97 a month value) — all on the house!

And… with the demand so far out of kilter vs. the supply…

They Expect A Complete ‘Sellout’ Within Minutes Of Opening!

At last count… there were exactly 20,096 people on this list waiting for their chance to reserve their copy!

So if you go to the Options Mastery Giveaway Page and see a ‘SOLD OUT’ graphic, it will be too late to get your F.R.E.E. CD course along with the bonuses.

However, since it’s important to OU that everybody gets this information, they may offer the digital version of the course if you don’t make the first 1,000 trader cut.

But that’s not as good, and they can’t promise it will even be available.

So I suggest having this web page up at noon EST today (keep refreshing the page if necessary when it’s time to go active), and not letting this unique chance to get world-class options trading information for f.r.e.e.

Click here now.

==> CLICK HERE <==

This is a real deal from Options University!

All their past customers paid nearly $2000 for the course. You can click here to check the sales page.

This is the best deal I’ve seen in options education industry.

Check it out now and decide by yourself.