You can safely guess that FOREX Trading is my true passion. My relationship with it started the same way it starts for most new Traders, losing money. Then I purchased as many AMAZON books as I could put my hands on and again …kept losing money because the books were written in an “extremely technical language” I couldn’t understand and I needed someone to take me by the hand and explain to me the basics in plain words and then introduce me to the principles of money, risk and trade management in a way I could follow up with instead of feeling totally alienated.
I wanted that kind of educational material so badly, I gave a promise to myself that as soon as I’d break the code of successful Trading, I would write the easiest to understand books about FOREX Trading. So I kept my promise writing the KISS FOREX Series of Books.
But on the way, I realized that although I had broken the code of successful FOREX Trading, I kept losing money making the same mistakes again and again although I knew I should avoid them. It was then when it became evident to me, that giving someone the list of ingredients to a delicious cake is not enough. They need to have the full recipe including stages of preparation, proportions of the materials, timing and all the tiny details. But still, I only had basic ingredients and terrible mistakes in my hands. How would I come up with a proper recipe?
Then I thought backwards doing some “reverse engineering” to both my right moves and my wrong ones. And I discovered patterns. I made a list of the right patterns and a separate list of the wrong ones. Then I reversed the wrong ones into their opposites turning them into right patterns. I had to think backwards, also looking at the bigger picture of the trading’s mechanics.
Started asking questions to myself. Before I Enter a Trade, what is it I want to make sure of? How much Risk should I take and how is it determined? How can I decide if a Trade is worth taking or not? Which Time-Frame should I trade from? How could I distinguish the types of trades that should be taken from Daily Time-Frame from those to be taken from H4 or even M15 Time-Frame? What should I be aware of when placing my Stop-Loss order? Once I’m in what do I want to watch for in order to Stay In and what should trigger my Exit? How often should I check my Trade? How could I estimate my Take-Profit Target level? Should I trail my Stop-Loss or not and how should I do it? If things go well, when should I add positions and how? If things go wrong what should I do? I put together the Answers to my Questions building up a Trading GUIDE which is immune to subjective or external factors. Studying the Market wider and deeper, I refined this Guide into a Complete SYSTEM which does not depend on the News, the Releases, the Central Banks’ Policies, the Governments’ games, the monetary war, the countries’ economies, the weather, the sun-signs or whatever the Capital Markets’ attention-seekers want to stuff your mind with.
Successful Trading is not about Methods or Strategies – there are as many as successful traders and more-. It’s about the ENTRY, STAY IN and EXIT Rules and Criteria.
Trading based on Technical Analysis is about statistically significant possibilities stacked to trader’s favour. There is no space for hoping, wishing or gambler’s attitude because using Mathematics and tools that help you base your trading decisions on Rules and Criteria is a repeatable and scalable Model that anyone can follow. That’s why I like saying that “gambler hopes, trader knows”.
My SYSTEM is made of Rules and Criteria which are not related to opinions, predictions, assumptions, guesswork, wishes, prophecies or crystal ball readings. You let the Market Lead and you Follow. You just respect the Risk Management and Trade Management Rules and Follow the Criteria. Strategies are countless. Rules and Criteria are a Few. My Book helps you Master them.
- File Size: 204424 KB
- Print Length: 821 pages
- Simultaneous Device Usage: Unlimited
- Publisher: SIOLEENO INV. CO LTD; 1 edition (December 24, 2015)
- Publication Date: December 24, 2015
- Sold by: Amazon Digital Services LLC
- Language: English
- ASIN: B019UD1QUA
- Text-to-Speech: Enabled
- X-Ray: Not Enabled
- Word Wise: Enabled
- Lending: Enabled
- Screen Reader: Supported
- Enhanced Typesetting: Enabled