This last week I believe taught many traders a hard lesson. By now, every trader either heard or saw the 1000 point dip in the market. For FX traders, look at the chart for the USDJPY. Over 500 pip range on the day that saw P&G take a “mechanical dive” of 37%. Once the tumble started, all the “black boxes” fired up and sent the market down even faster. Many traders I have heard said that when they saw P&G stock take a hit, they knew something was up. It is a steadfast stock and the company produces day to day essentials. NOT the kind of “bubble” you’d expect to burst. But…the black boxes are just that…boxes. Take trading out of the hands of human and placing it upon a box of zeros and ones, well, you saw the hit.
That is not the point of this post though. The point is about stops. I have heard and seen many traders talk about mental stops. If the market does not do what they expect, they will simply market out. Something tells me many got slipped. A lot. If you should take away something from Thursday it is this….you think you know, but you don’t. You will never be certain of what the market will do. Ever. Sure, there are those that like to pontificate but Thursday has shown, that it does not take much to prove them wrong. The markets are unpredictable. Always will be. That is why trading a plan is so important. You never know what the market will do next…but YOU should always know.
In the end, when you take a trade, consider first it NOT working out. Don’t focus on what you will gain…focus on losing. This way, you will ensure you have placed a stop in the system so when events like Thursday occur, you will be somewhat protected. They have fail safes in place….but were too far away from how far the market dropped
LESSON FROM THE DROP
Thursday, May 20, 2010Posted by BETRAS SWING SYSTEM at 7:31 PM 0 comments
HEI ! TRADER THIS IS THE FACT, I was lied to................
I will admit it. When I first looked into trading, it was the flashing websites promising me “Riches Overnight” that got me looking. Hey, I’m human. Someone telling me I can increase my bank account overnight was hard to refuse. I dropped the $97 on an E-Book and went to work. Unlimited riches without years of schooling awaited! I was going to make more than my doctor, lawyer, the auto industry line worker, the overpaid and underachieving politician…combined!
Well, the truth hit and that flashing website lied to me. I didn’t get rich overnight. It wasn’t easy. I didn’t even know why I pressed the close button when I had a little profit. The urge was huge. “Hey, look! I just bagged $100 and it only moved 10 pips!” I then decided to better the strategy and before I knew it, there was not a shell of it left.
Needless to say, I dropped it.
Why is it that people get into trading thinking they can make a huge salary in a few weeks? They break open the instructions and then dive head first. Forget that it takes years to gain the education to be a doctor. Takes years to make it to the big leagues (if ever). Takes years to get seniority and a decent salary at any job. Traders think they can toss away their full time job next week. It takes time to be good at anything. You may never be good at it……that’s a fact.
Posted by BETRAS SWING SYSTEM at 7:15 PM 0 comments
DEAR TRADERS
Tuesday, May 11, 2010I want to share an “inconvenient truth” with you right now:
FACT: You will never, ever, find the “Holly Grail” of trading...
...and you will never wake-up one day to find yourself a professional trader, WITHOUT the proper information, discipline, training, and some rockstar tools.
As a trader for many years, I know this to be fact, especially when it comes to the information you gather. That is why when I discovered these tucked away informants I had to grab everything they were uncovering. I want to make sure you do the same!
BETRATRADE TRADING SYSTEM IS THE SOLUTION...IT NOT 100% buy you will know the truth about trading
Posted by BETRAS SWING SYSTEM at 5:53 PM 0 comments
BETRASTRADE METHOD 3.2 SWING SETUP 2012
BETRAS SWING 3.2 SYSTEM (90% MECHANICAL 10% ART)
SUMMARY JANUARY 2012 PERFORMANCE:
12 wins, 3 losses . winning rate 80%, risk reward 1:1. Gross % gain before broker commission depend on your risk , lets says if use 2% = 2% x 9wins = 18% and 5% x 9wins = 45%
SUMMARY FEBRUARY 2012 PERFORMANCE
10 wins, 5losses . winning rate 66%, risk reward 1:1. Gross % gain before broker commission depend on your risk , lets says if use 2% = 2% x 5wins = 10% and 5% x 5wins = 25%
Mar 2012 performance 11 wins vs 6 losses .69% winning rate. clean wins 5 wins, gain, 2% risk with risk reward 1:1; 5 x 2% = 10% gain. If use 5% risk, with risk reward 1:1; 5 wins x 5% = 25% gain from equity
SUMMARY APRIL PERFORMANCE
April 2012 performance 9 wins vs 11 losses .45% winning rate. clean losses 2 , 4% drawdown, 2% risk with risk reward 1:1;
SUMMARY MAY PERFORMANCE
May 2012 performance 7 wins vs 2 losses .77% winning rate. clean wins 5 , 5% x 2 = 10% gain , 2% risk with risk reward 1:1;
SUMMARY JUN PERFORMANCE
JUN 2012 performance 12 wins vs 1 losses .92% winning rate. clean wins 11 , 11% x 2 = 22% gain , 2% risk with risk reward 1:1;
Detail Jun 2012 Performance
6th Jun 2012
1. USDJPY win + 55pips (2% gain)
2. EURAUD win +65pips (2% gain)
3. GBPJPY + 58pips (2% gain)
4. EURUSD +52pips (2% gain)
5. USDCHF + 42pip (2% gain)
14th Jun 2012
1. EURUSD win + 95pips (2% gain)
2. USDCHF win + 76pips (2% gain)
18th Jun 2012
1. USDJPY stopped out (-2%)
20th Jun 2012
1. GBPJPY win + 83pips (2%)
21st Jun 2012
1. USDJPY win + 67pips (2% gain)
22nd Jun 2012
1. USDCHF win 68pips (2% gain)
2. EURUSD win 95pips (2% gain)
28th Jun 2012
1. GBPJPY win + 50pips (+2%)
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BETRAS SWING PREVIOUS RESULT - CLICK THE PHOTO BELOW
