Hold? Exit? No-stress Trading Is MY Choice

February 23rd, 2010

When you enter a trade… how much pressure do you put on yourself by debating whether you should hold or exit? Do you feel the same kind of pressure and the same amount of pressure whether you are in profit or a loss?

For me, I prefer the least amount of stress in EVERY trade. That means… you’ve heard it many times, “in and out quickly, whenever it goes against me”. Now, I know that can be a challenge sometime, especially when you’re applying that to a loss… but is that really any different than a trade in profit? It depends somewhat on your personality and temperament to a certain degree… but… what it REALLY depends on is… your ability to REALLY KNOW YOUR CURRENCY PAIR.

Sure, there WILL be surprises. In fact, I’m going to show you one in just a moment. But, most of the time, it is truly quite easy to “see the same patterns over and over” on a currency pair, and when you see Price interacting with a Logical Forex Magnet Line, and all the rest of the Logical Forex Indicators showing the Decision Points in the market… where professional traders are “hunting”… we CAN know what to do… and when there are surprises… we just… respond accordingly.

So, here was my surprise…

### EUR/USD Market Structure

There have been more of these kinds of trades, it seems, the past several weeks. What I mean is… when I zoom out, and see “price near the top”, I am extremely cautious about entering a buy. I’d usually prefer to see the market structure appear a bit different… you know, I’ve mentioned this many times… but, as I said, it seems quite often recently the market has “taken off” even though the zoomed out perspective shows things “at the top”.

Maybe this is a function of “uncertain economic times”. Whatever. I don’t really care. All I really have to know is… are there any news events that might surprise me? and… can I interpret the Market Flow and the Decision Points with the Logical Forex Indicators. YES! That’s all I need… other than I have to make sure the Market and ME are “in sync”… I’m mentally alert and ready to trade… and the market makes sense to me. Good! It did. Consider taking a trade… making sure that price TELLS you what it IS doing (no predicting!)

EUR/USD Market Structure

EUR/USD Market Structure

(Remember, you can always click the images to see a bigger chart. It opens in a new window. You can close that window to return here.)

*** TRADE #1

I then always wait for price to “do its dance” around the Logical Forex Magnet Lines. Sometimes that dance is a shuffle. Sometimes it is a sprint. Either way, I’m ready… I let price tell me what it IS doing… and I’ve seen these things a million times before (maybe literally) since I’ve practiced and practiced and practiced viewing chart patterns over and over… so that I know my currency pair like my spouse or my best friend.

And, when the price and the patterns make sense to me… I take the trade. No predicting. No over-analyzing. No hesitating. There is only one way in… to click the button on the broker software. There is only one way out… to click button on the broker software. When price goes against me… well, you know.

Yes, there is a bit of discretion. But it is not any kind of guessing. I know my currency pairs. I’ve practiced. I’ve trained myself… pattern matching… mentally… even physically with my “trading finger”. What’s left to do?

Take the trade. There are three basic outcomes. Only three. It will be profitable. It will be a loss. It will be break-even. End of story. Everything else is a matter of “how much”. I DO NOT CONTROL “HOW MUCH”. I DO CONTROL ME.

So, let’s enter…

EUR/USD Scalp

EUR/USD Scalp

Let’s review… now that we have entered the trade… what can happen?

Only three basic things will happen now. Put simply, all I have done is… TRY THE TRADE. That’s it. I don’t know the outcome. I AM somewhat confident that I have taken a trade that will be profitable - not because I’m predicting, or because I’m a prophet, or because my “math says so”. No, I’m only trying the trade… and I entered the trade because the Market Made Sense To Me, given the Logical Forex Indicators showing me the Flow and Decision Points in the market… and my countless hours of practice and real-life experience. It is no different than YOU!

Exit #1

Okay… now I’m in the trade… WHEN DO I EXIT? How long do I hold?… bleh… I can feel my stress building just asking those questions. No! There is no need to do that. ALL profit is good. ANY profit is good. And what makes this SO powerful is… because of how you apply Logical Forex… you can be consistent… and consistently profitable… and it really does “add up quickly”… and best of all… with NO stress.

Let’s see where I exited… consider what YOU would have done…

EUR/USD Scalp

EUR/USD Scalp

So, where would YOU have exited? :-)

I can hear some people… right now… saying “is he crazy?” Perhaps they might be right.. but not about my trading… because my NO STRESS trading works for ME… and I just made around 10 pips net… with, uhm, no stress. No predicting. No over-analyzing. No hesitating.

But… but what about all that POTENTIAL PROFIT I “missed”. Well… how could I have know that at the time I exited? Yes, it is fair to ask… if I know my currency pair so well, couldn’t I have “held on longer”. Well, I suppose so, but, I also know MY tolerances and preferences, too. And they play a large role in ALL of our trading experiences. In other words, some of you would have held longer, and that is OKAY!

For me, I’ll take my no-stress 10 pip net, and get ready for another trade that, well, looks quite similar on the charts… the way the Logical Forex Indicators show me. And, I’ll repeat this process… consistently… have a lot of fun doing it… and eliminate my stress.

And… you do remember… as you build up your equity… you Trade More Lots… one time a day is plenty in many cases… and I can do that in about 20-30 minutes every day. You can too. Yes, you know this too… sometimes I do like to continue trading after my “big trade”, and when I want to do that, I seriously reduce my lot sizes so that I’m not likely to eat up my “big trade profits”.

Logical Forex trading really is simple. Keep it that way. Have fun with it.

-Greg

Can I Start Life Scalping?

January 29th, 2010

Wow. I’m amazed at how little time I have had recently to post trade examples to the blog. I have been trading, but I have had so many other things going on that taking the 30-60 minutes to put together a post here… has been difficult for me to do. The reasons behind my limited time to post will make more sense in the semi-near future. Quite simply, I’m “in the background” doing lots of things for you… things I just can’t talk about for a while.

I guess what I really need is a way to be “in and out quickly” for Life Events just as I do with Logical Forex. Would that be “Life Scalping”? :-)

There have been many of you that have stayed in close correspondence with me via the Support Ticket system. So, you know I’m “still here”… every day… for many hours. And, I appreciate your staying in contact with me. I encourage you to comment on this blog, or open a support ticket if you need help from time to time. Of course, the Logical Forex Premium Videos cover SO MUCH of exactly how to trade, I do find it encouraging that most people who have really committed themselves to ABSORBING the content of the Premium Videos rarely have many questions. They just trade. That’s quite fun… especially when most of what I receive are great reports of consistently successful trades.

While I continue on my current projects, my postings to the blog will also continue to be less than I would like to do, but I do hope be able to post a bit more frequently, probably starting late next week. I do ask that you continue to be patient… because what I’m working on is FOR you. And… there are LOTS of materials and trade examples already posted to this blog… and it will most definitely be helpful to you if you review the trade examples and watch the videos SEVERAL TIMES, and then do it again. You WILL learn “new things” each time you do this, especially as you gain more experience.

I will also be posting more “mental things” pertaining to trading. So much of what we go through in trading forex is MENTAL. It is “putting it all together”… the “mechanics and logic” of trading along with our mental perspective… that makes us a profitable trader. And, that’s what we really want, isn’t it?

Okay… I will leave you with a trade from a little while ago…

### EUR/USD Market Structure

I hope you see some structure here. :-) In addition, if you “divide the chart” as I teach in the Premium Videos (and even cover a bit in the Quick Start Videos you get with your trial), we are most definitely at a “Decision Point” in the market. Now we have to decide what WE are going to do.

EUR/USD Market Structure

EUR/USD Market Structure

*** TRADE #1

I *always* manually draw these little arrows as best I can to reflect approximately where I enter the trade. It isn’t always easy to make these arrow match exactly to where my fill occurred, especially when the “little gray triangle” is in the way. That gray triangle is what NinjaTrader puts on the chart when you “scroll back” to show a trade. Anyway, I mention this because there are still some people who ask if those “red and green arrows” are drawn on the chart automatically. No, they aren’t. And, that doesn’t even make sense given the way Logical Forex works. I’ll cover that some other time (again)… but I’ve already covered it dozens of times on this blog (and elsewhere).

So… I was quite confident that this trade was a decent setup, so I want to “load up” on my lot sizes when I have made that choice. That means that even with a “small pip profit”, one can make a LOT of money with LOTS of LOTS. :-)

Quick Scalp EUR/USD

Quick Scalp EUR/USD

Exit #1

Now, you’ll notice I didn’t “hang around” or “hold on” to this trade very long. Yes, it did move upwards another 5 pips or so, but… as you already know, I like to trade with No Stress… so I did my usual “in and out quickly”… and it netted a little over 5 pips (including commissions). So, within around 1 minute, and a large lot size trade… it has been a Good Day. ;-)

Quick Scalp EUR/USD

Quick Scalp EUR/USD

There are numerous times during the day when this kind of setup happens. Mostly it is around a time when a market “session” is opening or closing… meaning when “Europe begins or ends it’s trading day”, or Asia, or the US.

Plus, knowing this, there is simply no need to spend long hours sitting at the computer staring at charts. Just determine a good time that works for you, find a corresponding “open or close” of a market session, and you’re already in a great position for winning trades with the least amount of effort.

Well… I have to get back to my projects that I’m working on for you. I’d sure love to hear from you. Talk to me below with a comment. It may take me a bit of time to respond, but I certainly will.

See ya again soon.

-Greg


Even In a Slow Forex Market…

December 15th, 2009

Well, as we draw closer and closer to Christmas, the market is beginning to be a bit less liquid, meaning it will normally have larger spikes and more jumpy moves.

You CAN trade during this time, but you MUST be careful.

One of the best ways to be careful is… to make sure you allow the market to TELL YOU WHAT IT IS DOING, and NOT try to predict! In other words, I’m a deliberately being MORE cautious than normal in allowing the Magnet Dance to occur before I trade. If it does not happen and price just blasts through a Magnet Line and I’m not quick enough to enter the trade… then so be it… I will simply wait for the next one. Of course, “waiting for the next one” during the next few weeks WILL take some patience (most of the time)… but is this really any different from how we normally trade… being careful no matter what and adjusting to what the MARKET is DOING?

We must make sure to not “dictate” to the market. It owes us nothing. Like you, I “need” to make “X” dollars per day… but I can ONLY do that when market conditions are Right. There is no sense going fishing in the sand of the desert, right?

So… here is the setup… You DO notice how this is another example of what I discussed in the video I posted just prior to this one, right? Patterns. It’s all patterns… and with the Logical Forex Indicators, we can SEE those patterns in ways that most people never will. We have an advantage!

*** TRADE #1

Holiday Forex Scalping Magnet Dance

Holiday Forex Scalping Magnet Dance

For those who have absorbed the Logical Forex Premium Videos — you DO see “that same ole thing” that I use so often, right? It SURE is powerful.

You know… maybe I should remind everybody…

Be sure to CLICK THESE CHART IMAGES to zoom in and get a good look at the details! The chart will open in a new browser window. Just close that window to return here.

Exit #1

Holiday Forex Scalping Magnet Dance

Holiday Forex Scalping Magnet Dance

Now, I’m sure you’ve already noticed… :-)

I have decided to make a special offer to you during the Holiday season. You’ll see the offer appear in your browser a few times (maybe 4-5) and then it will disappear and not be shown to you again. Sometimes viewing a page you haven’t seen before (or in a while) will make the special offer appear. Sometimes. So, I recommend that you pay serious attention to what I’m offering you. And… consider this… After the first of the year, I’m going to do a couple of things… such as likely change and limit those who can even gain access to Logical Forex… and I’ll be providing those who are already part of the Logical Forex Family some additional opportunities.

It’s a good time to close out this year and start your new year by becoming a truly Professional Forex Trader. Take advantage of my special offer to you. YOU DESERVE IT.

-Greg

Forex Scalping Tips and Insights

December 8th, 2009

Wow! I was quite surprised when I realized how long it has been since I last posted. Yes, I have been scalping forex regularly, but I have just not been posting here. It takes me at least an hour (often more) to prepare a post, and I have only had about 30 hours every day to get everything done that must be done! :-)

My posting will still be a bit spotty for the next few weeks, but I hope to be able to get back on track for posting more frequently… maybe even before then.

Even if I’m not able to post, I’ll definitely be trading. Of course, this time of year, one must be careful to make sure there is adequate liquidity in the market before trading…. and that’s trivial to recognize with the Logical Forex Activity Lines. You do always check the Activity Lines before you trade, right?

I’m happy to report that my Mom is doing quite well. I appreciate how so many of you have continued your prayers and well wishes! Many of you have kept in touch using the support ticket system to keep things a bit more private… and I thank you for that, too.

My Mom continues to be a great inspiration to me, and what she is going through reminds me all the time about how forex trading present the EXACT same “challenges” as life. I’m not going to go to deepply into that right now, but consider how we all are so often presented “challenging choices” in life… and how fear and all of our other emotions can “get in the way” of taking action… yet those who DO take action are really the ONLY ones who have ANY kind of control… and that being ONLY of Their Choices… but NEVER really knowing the outcome.

So, what do we do in forex trading (and life)? We make choices based on the best information we have available at that particular MOMENT. The more we try to predict or over-analyze, then we hesitate, and become more uncertain, or, more “certain” that our predicting and analyzing will have some “magical influence” on the outcome. Nope. Not in life. Not in forex trading.

But, if we can isolate our choices to a fairly well-known and understood PATTERN and can recognize those patterns, then our decision making is a fast process, with less emotion, and much less to “defend” or “insist on Being Right”, so it is easier for us to ‘exit a bad choice’… certainly in our forex trading… but only sometimes in life. And it is THAT difference that makes forex scalping and forex trading EASIER than life choices, but almost the same “situational choices” as life.

What would be nice, of course, is if we had Logical Forex Indicators for LIFE Choices. :-) The way Logical Forex shows us THE Decision Points in specific ways is what gives us our edge of just about any other forex trader or forex scalper. And with continued practice, it gets easier to deal with whatever the outcome of “the choice” or “the day” or whatever.

I have included a video for you today to show you some specific patterns that are occurring frequently over the past several weeks. Actually, they happen all the time, it’s perhaps just been bit more “obvious” recently.

You’ll hear me mention several times about a few additional items that give me even more confidence in taking some of the trade setups I’ll show you in the video. I’ll explain those things in more detail, below, for those who have purchased the Logical Forex Premium Videos or who have experienced a Private Workshop with me.

Forex Scalping Patterns
Play Video (in new window)

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Keep practicing! Keep trading! Keep going! Stay committed and determined to YOURSELF!

-Greg

Expectations. Surprises. Hope. Commitment.

October 28th, 2009

What a whirlwind.

Everything.

Yes, I really thought it I could have posted sooner than this. Obviously not.

My expectations were different then the reality I had to live.

But, no, life has been full of surprises.

Sure, I hoped things would be different than they have been.

That doesn’t’ change anything though.

Why? Because I am committed… to many things, but mostly to persevering to the challenges and disappointments, the unfulfilled expectations, the surprises… you know… life.

Or, is that… forex trading?

Forex trading is quite simply a different perspective of “life”.

We build up expectations… and are surprised. We have hopes, but are often disappointed. When these expectations, surprises and hope all intertwine… things get confusing… in life, and in forex trading. And, from what I can tell, the only thing that will pull us through is… commitment… to something… often just to ourselves. Why? Because I am the only one who can CHOOSE to continue… or quit… in the face of surprises… and failed expectations… and confused hope.

And, then… there are those who are BEYOND AN INSPIRATION to me.

I look at my life (or my forex trading, or whatever)… and sometimes it looks “challenging” or “frustrating” or “whatever”)… and I get things confused. Most of what I go through is trivial. Absolutely trivial.

I lose a trade. Not what I expected. I lose another. Certainly not what I expected. I have been surprised, of course. And, if I’m not careful, I’ll lose hope… and quickly follow that by quitting, completely abandoning my commitment… to myself… my goals… my dreams… my KNOWING THAT I CAN DO THIS.

Sound familiar?

Well… let’s re-frame this to Real Life.

My Mom and I are great friends. We talk regularly. In her 70 or so years, she has lived and learned a lot of life. How to live. How to love. How to manage expectations. How to handle surprises. How to keep hope. How to stay committed. How to persevere…

Ring. Ring. “Hello.”

“Hi Greg!”

“Hi Mom!”

We chat for a while. Laugh frequently. About 10 minutes into the phone call, and with a lengthly lead-in…

“I have breast cancer.”

Gulp.

Not expected. Big surprise. Is there hope? How to stay focused? Is this The End? WHAT do I commit to?

Sure, this had an effect on me. That hardly matters though. It my MOM who has to go through those things HEAD ON… and face those “feelings and thoughts”… and all the baggage that comes with it.

Sure, there are emotions to deal with. We’re human, yea know.

And, after a VERY short period of time… she SETTLES everything in her mind and her soul… and MOVES FORWARD… committed to herself… to “win”… and to keep her hope in line with reality, but still a lively hope… and even through the surprise, to keep her expectations real. And, then, to put it all together into a day-by-day… moment-by-moment… in-the-flow life.

If you talked to her… when this first started several weeks ago… or today… YOU WOULD HAVE ABSOLUTELY NO IDEA THERE IS ANYTHING “WRONG”. She just continues to step through every day, every moment, and exude love and commitment to everybody. Consistently. No matter what is going on.

Yes, she is doing quite well… still “on the mend” and has a ways to go with her continued treatment. But, she is COMMITTED TO HERSELF… even though there are times when hope may look bleak, expectations are unfulfilled, and surprises abound.

My Mom is my hero.

Now… I wanna gripe about my forex trading? Nope. Perspective is king.

I know many of us have faced similar “life challenges”. Things just rarely seem to go like we expect them to, or hope they will. Many of you have shared some of the most personal details of your life with me… cancer of the larynx, parents and children ill, financial problems, and more. And, it seems that those of us who go through these things DO have a different perspective… being able to realize that not every “life moment” (or forex trade) will be like we expect… but we still handle the surprises… keep on hoping… and stay committed. You know who you are. :-)

I won’t tie all of this together for you any more than I already have. I’m sure you can do that. The bottom line is what I have said all along in my postings on the blog, and in the Premium Videos. You know what these things are.

Yes, it has been a busy time. Yes, I have still been trading, and for those who opened support tickets, you know that I have been around and responsive. I have also been working on several other things related to Logical Forex, and others related to some of the other businesses I run. What does this mean? Well, I want to get some of these things “wrapped up”. I hope and expect that this will take just a few more weeks… but even if there are surprises and things don’t work as easily as I expect or hope, I will STAY COMMITTED… to me AND to you.

I want you to be the best forex trader… not that you believe that you can be… but what I *know* you can be. But, it’s up to you to manage your expectations… handle the surprises… continue with an overall hope (NOT “Hope and Pray TRADING”)… and staying committed to yourself to see it all through.

It may be another several days (maybe a couple of weeks) before I can post again. Keep practicing. Keep enjoying EVERY DAY of life… AND your forex trading. MAKE IT FUN WHILE YOU CAN.

I’ll leave you with a trade I took earlier this morning…

*** TRADE #1

EUR/USD Scalping Forex Fast

EUR/USD Scalping Forex Fast

Exit #1

EUR/USD Scalping Forex Fast

EUR/USD Scalping Forex Fast

Now, stay committed. Realize not all your expectations are what will happen. Handle the surprises. Keep hope based in reality. Keep moving forward. No fantasy. Just reality. Keep going. And, stay committed. Did I already say that?

-Greg


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