1)WHERE Price would TURN
2)WHEN Price would TURN
3)HOW far it WOULD THEN Run!

90% of forex trader's lose money. So here's how to be in the top 10%.
Want to know the only reason so many Forex traders fail? They give up!
That’s it. There’s no other logical explanation.

REASONS WHY YOU BLEW YOUR ACCOUNT
*Pursing a large profit or loss

You have probably heard someone say that it’s a good idea to take a break after a loss or a string of losses, and I wholeheartedly agree. However, one thing you may not have heard is that it’s a good idea also to take a break following a large profit. The same holds true for a string of profitable trades.

*Unfavourable market conditions

Consolidation and choppy price action usually go hand in hand. Not always, but the two tend to find each other more often than not. Whenever you see consolidation take over after a trend , it’s a big red flag to avoid the markets for a while. As a general rule, we want to catch the trends and avoid consolidation. The easiest way to do this is to identify your key levels and then wait patiently for a breakout in either direction.

*Stop Caring So Much

As if the topic of this article wasn’t controversial enough, now I’m suggesting that you stop caring so much about becoming a successful Forex trader. You’re probably thinking, Great, what’s next? Before i start getting many calls and messages from disappointed readers, allow me to explain. Lol For the past 5 years of my trading life, I’ve had ups and downs like you wouldn’t believe. I’ve also had the pleasure of working with more than 100 – 500 traders and connecting with hundreds of visitors on my forums, both on whatsapp and Facebook One thing almost everyone I’ve come across has in common is that they care too much. They want consistent profits yesterday. Not tomorrow, not next month and certainly not next year. They want it now!

One thing I’ve learned over the years, though, is that there’s a big difference between being passionate about a goal and exhibiting the discipline to see it through. It’s knowing when to take your foot off the gas pedal and hit the brake instead. That’s what separates the successful from the not-so-successful in this business. So, by all means, continue to have the passion to make it as a Forex trader. Let that fire burn inside of you day and night. Just remember that it’s a marathon, not a sprint, to the finish line.


Now that you know that one of the best ways to succeed at Forex trading is to avoid the market, let’s discuss a few ways to do just that.

The following tips and techniques will help you stay patient and adopt a low-frequency approach to the markets.

1)Use the daily time frame

This is by far the best way to learn to avoid the Forex market. When you begin using the daily time frame everything slows down. You have more time to analyse your charts which results in better decision making. Moreover, using the daily time frame to watch for price action setups simplifies the entire process. You’re no longer sitting in front of your computer for hours watching six indicators and five different time frames for signals. And you know what? Simple is good! You don’t need multiple indicators and sophisticated algorithms to be successful in this business. Nobody ever said a trading edge needs to be complicated. Look no further than the price action strategies. If you want to get back to basics and learn to avoid the markets while conditions are unfavourable, switching to the daily time frame is a great place to start.

2)Find a hobby

It’s important to have activities you enjoy doing other than trading. The truth is, if you’re trading the daily time frame you may only get five to ten favourable setups each month. That means you’re going to have quite a bit of time on your hands. This is where many Forex traders get burned. Instead of finding something else to do with their time when conditions are unfavourable, they force trades. They spend hours staring at their charts hoping for something to do. Don’t fall into this trap. If there’s nothing to do at the moment, find something else to occupy your time until favourable conditions return.
3) Recalculate your expectations

How long does it take someone to become a successful Forex trader?
How much do most profitable Forex traders make each month?
These are two common questions you’ll find on just about any Forex-related forum on the internet. The answer to both usually goes something like this it depends. Personally, I agree wholeheartedly with that answer. It’s a mistake to think that anyone can put a definitive timeline on how long it takes to become successful or how much a trader makes each month on average.
So how long does it take? My answer: years. Not days, weeks or months. How much, on average, do most successful traders make each month? Probably less than 5% and certainly less than 10%. Once you know these figures, the 2% gain you made last month starts to look a lot better. And if you’ve been at it for two years with nothing to show for it, don’t worry. It may take you three, four or even five years to reach your goals. BECOME A TRADER TODAY. But as I said at the beginning of this article , giving up is the only way you can fail.

4)Recondition your mind to see money saved as money earned

This is probably my favourite way to increase profitability as a Forex trader.
There seems to be this unspoken belief in the trading world that if you aren’t in a position you’re somehow missing out. In other words, if you aren’t trading you’re losing. This couldn’t be further from the truth. The fact is that trading when there’s nothing to do just so you can claim to be trading is a sure fire way to blow your account. Think of it this way, it takes a 100% gain to recover from a 50% loss. So if you started with $10,000 and lost $5,000, you’d have to double your money just to get back to your starting balance. The best way to overcome trading for the sake of trading is to learn to enjoy being on the side line TRADE WITH CONFIDENCE!.
Convince yourself that protecting your capital is far more important than growing your account balance. That’s how you make it to the next level of your trading career.

FINAL WORDS
If you want to achieve consistent profits in the Forex market, you first have to learn to avoid it. Once you can do that without the temptation to risk money for the sake of excitement, you’ll be well on your way to achieving success. Using the daily time frame is one of the best ways to avoid unfavourable market conditions.
It’s easier to see the flow of supply and demand and it also slows things down so you can evaluate setups on your own time. Another great way to stay patient is to stop searching for setups. Instead, let them come to you by scanning your charts one to three times each day. If nothing catches your attention right away, it’s probably best to do nothing and come back later.
Every dollar you save by avoiding losses is one you don’t have to earn back later.
Remember that it takes a 100% gain to make back a 50% loss so staying on the side line in the absence of something to do is a smart choice.

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