Mind over matter high leverage trading (not for wimps) @ Forex Factory

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Mind Over Matter High Leverage Trading (not For Wimps) @ Forex Factory

Firstly a few facts (what I am going to say below is probably going to ruffle a few feathers)

Mind Over Matter High Leverage Trading (not For Wimps) @ Forex Factory

Is the market is out to get you? Yes and no. Not us personally, the big players are out to get everyone smaller then themselves, including smaller institutions, anyone and everyone who they can influence into getting onto the other (wrong) side of the trade!

Mind Over Matter High Leverage Trading (not For Wimps) @ Forex Factory

Strangely enough most of us generally make the right call but we still end up losing money, why?? Well there are probably a number of reasons but I am going to highlight the main one and look at the solution.

Mind Over Matter High Leverage Trading (not For Wimps) @ Forex Factory

It is FEAR – yep, FEAR is the key! And to conquer this fear we have all been taught and told many times to keep low leverage – protect that account balance at all costs, right? So off we go trading .01 and .02 microlots. However the BIG problem with this generally accepted method of trading is that we are opening way way too many trades – overtrading! In fact even three trades a week is already too many in my experienced opinion. Every time we open a new trade we are taking a risk. If we open 10 trades we are multiplying that risk ten times. 20 trades by twenty times. That is a HUGE risk! If this generally accepted trading method actually works then why are most of us losing money! I was looking at the “trades section” of FF. Amazing even these guys are overtrading big time. That is why they generally disappear off the board after a while.

Mind Over Matter High Leverage Trading (not For Wimps) @ Forex Factory

Then we are encouraged (generally by the brokers) to open our trading account with a minimum balance of at least $1000 (sometimes much more then that of course) but I am taking that as a prime example. What happens? A few losses and we are down to $800 and fear grabs and greed grabs and we try to recover and BANG down to $100, then zero dollars in no time at all.

Mind Over Matter High Leverage Trading (not For Wimps) @ Forex Factory

OK let’s do things differently. You have $1000 to trade with. But what I am suggesting is start with only $100. Remember you then have TEN chances (10 x $100) to build up a nice balance. But how? Using leverage of course and ONLY trading a couple of times a week when conditions are absolutely optimal.

Mind Over Matter High Leverage Trading (not For Wimps) @ Forex Factory

We trade our $100 live account as you would a DEMO account. DO NOT think of it as a live account! All of us can double our demo account balances in a couple of hours. And as soon as you’ve doubled or trebled your live balance, bank your original stake. Why? Because then you are trading with the banks money NOT your own. The pschological difference is VAST when you’re trading with someone else’s money! One is not psychologically hamstrung

But of course we are going to need a good trading system to identify that optimal situation to take that high-leverage trade. Trading at 500:1 with a $100 balance we can use say $3 a pip x 20 pips x 2 and hey presto we have doubled our account in a week. That is is the strategy here guys. As I said, this thread is most definitely not for the faint hearted. If you are, best to move to another thread in a hurry!

The trading system I am going to suggest for this is very simple indeed

Details in the next post

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Mind over matter high leverage trading (not for wimps) @ Forex Factory

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