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Saturday, February 12, 2011

Recent Trade Results

“The willingness to be wrong can lead to excellent trading results.” – Ken Long

Hello:

Knowledge is power only when it’s applied properly. Knowing the right things about trading can’t do you any good: it’s the disciplined application of those rights things that brings desired results. In spite of any adverse circumstances that might’ve affected your trading career in the past, you can go ahead and achieve your goals. Successful traders today also had challenges in the past. Once you taste consistent success in trading, I can bet that you’ll be hooked.

As regards my recent trading performances, you should be able to track the profits and losses of my weekly trading update (as mentioned in my articles). In addition, the account on which I use the GBPJPYUSDCAD Swing Hedging strategy now has a long-term profit of about 1500 pips, whereas the one I later made available to my clients currently has a (closed) profit of over 450 pips. My gap trading strategy, which would soon be made accessible to my clients, made these profits in less than 5 trading days:

AUDUSD = $1567.50

AUDJPY = $977.27

NZDUSD = $1309.45

EURJPY = $2014.90

GBPUSD = $2100.65

EURUSD = $2098.20

EURNZD = -$506.10

EURCHF = $2005.25

It’s very heart-warming to know that some clients and past trainees are able to duplicate my trading ideas – with measurable success. Last week, based on invitation, I visited one of my past trainees. This cool-headed gentleman attended a one-day trading seminar about 4 years ago (hosted by a renowned media house), paying a sizable amount of money. But when he started practicing with demo, he quickly realized that the he had no trading skills. He was later advised to hire one man for further training. Unfortunately, the so-called coach collected his fees and taught him for 2 weeks - with no applicable sound risk management – only to sell him a robot at the end of the whole show. This trainee still knew that he didn’t have enough skills to play the market successfully.

He knew that there must be secrets of successful trading somewhere, only that certain people who claimed the possession of the secrets still needed further training. A man’s worth is measured only by what he gives others. Someone told him about me and he arranged for an audience with me. The way I talked about risk management, trading psychology and making profit regardless of the market directions touched his heart. He therefore arranged for a personal training…

It’s now a testimony for him. I was happy that he’d made over 24% returns on his account in 4 months. I wasn’t particularly amazed that he survived the December and January easily – something most traders find difficult. He’s a gainfully employed engineer, yet he knows that one day, his employer would say: “That’s enough. We got to let you go.”

By gradually building good track records for yourself, you’ll soon see that success would constantly target you. You’ll discover that you steadily inch your way to the top. No-one can retire you from your profession as a private trader. Many had been making consistent profits from the market before I was born and they still enjoy their job as traders. Dr. Van K. Tharp - a word-renowned trading coach - reached the age of retirement early this year, but he would continue doing what he likes indefinitely. He’d already retired himself since early 1980’s, doing what he enjoys. John Burley, a multi-millionaire and former financial planner, retired himself at the age of 32. John Paulson made a profit of around $3.5 billion in 2008, and he’s set to take home around $1.2 billion this year. How many employers can give you that as a salary? An employee would resign, get retrenched, dismissed or retired; whereas looking for another job could be a frustrating and humiliating experience. You mayn’t become a billionaire thru trading, but you can attain the financial freedom you dream of. Think about the long-term benefit of trading and make your mind to learn the trading principles that work and discipline yourself to apply them.

What are your trading challenges? No matter what they are, you can overcome those challenges and move ahead. The best traders in the world have managed to overcome the obstacles they found on their way to becoming successful traders; and you can do that too. My past and future articles would continue to reveal what it takes to be a successful trader. Showing you how to be the best trader you can be is what we do here at Fxinstructor.com. Yes, doing the right things on the market will make you share testimonies later.

NB: An article about effective gap trading in Forex is coming soon.

This article is ended with quotes from Dr. Woody Johnson:

1. “Personal mastery teaches you to choose. Choosing is a courageous act; it is about picking the results and actions which you will make into your destiny. Personal mastery is like holding a conversation with yourself. One part speaks of the future you want; another talks about the realities of what is going on around you and a third says, "...I choose to be the trader I want to be and I choose to get the results I want to get and I accept what I must do to get it!" And, you'll want all of these voices in the conversation, knowing that the power which pulls you toward your vision emerges from the relationship between them.”

2. “Achievers have mastered self-programming. It doesn't mean that they are not challenged or that things aren't difficult, but they use these situations as opportunities to ramp up their focus on what matters most in both their trading and in their lives.”

Your questions and opinions are highly welcome.

Thank you.

With best regards,

Azeez Mustapha

Forex Signals Strategist, Funds Manager &Coach

Senior Analyst

FX Instructor, LLC

Email: amustapha@fxinstructor.com

Yahoo! Messenger ID: saazalmu

Are you facing any challenges in trading? You might want to explore the secrets of markets wizards and duplicate their success. Get the secrets from my past articles at:

www.fxinstructor.com/blog/author/amustapha

www.fxinstructor.com/blog

Get my Forex trading signals at: http://www.fxinstructor.com/en/analytics/ituglobal

And my past articles are also available at: www.ituglobalforex.blogspot.com

NB: There is risk of loss in trading, but it is possible to be a successful trader.

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