A successful trader is a self-employed truck driver who operates his/her own small business to transport goods for customers. He or she is free to haul goods on.
I’m Joe Chalhoub, computer engineer, operator and generator Forex strategies. I started trading in the Forex market 3 years ago. The first three months was a complete failure, I remember I lost all my money and was about to stop me, but I did not, I thought that could stand to lose a great opportunity to have my own business. So I stopped and started operating observe, study, analyze and practice.
Note: I began to observe the market, which causes movement, reaction, fluctuations and trade.
Analysis: I also started working with technical and fundamental analysis to examine how each can predict and redirect the market and how I can use them both to win. I’ll tell you about these tests in the following paragraph.
Reading: I bought books about Forex Trading and read them, I also read books explaining various strategies and tactics used by experienced operators.
Practice: I thought free accounts and began to operate virtually also tried and monitor the performance and effectiveness of each technique he had invented.
After a year of study, analysis techniques and practices of trading, after numerous failures and frustration I made my own strategy; which it is working very well, and now every month my profit is positive.
I reached all my goals and devised a successful strategy, but that is not enough; to win can you not miss any opportunity and the Forex market is full of opportunities, as it is the most active market in the world, so I have to sit all the time observing and identifying opportunities throughout the day Monday to Friday.
And how can we solve this problem ?, as I have no possibility to observe the market throughout the day, as I have my career and family, I thought I schedule my strategy for the information technology makes the job harder for me and we know that no one is as disciplined as the software, then I created the artificial intelligent software that collects market data, makes my strategy based on this data and detect opportunities 24/24.
This program examines the fundamental and technical data and generates forex signals are automatically forwarded to my broker platform in which these signals are automatically executed and the members of my website is also sent. All this works without my intervention, just run the program, that analyzes and makes decisions (Buy, Sell or stay on a page).
Five hundred operators get success in this business, and what stands them apart from other 95 operators is hard work. Forex trading is not an easy business, and who tells you they can make you rich in one night is one of the 95. Only one thing can help you become a successful trader, is hard work, and nothing else. Do not allow other operators or aconsejadores help, count only have confidence in him and I know it.
Do not start to operate quickly, the Forex market is not going anywhere, endures forever, give yourself 6 or 12 months to study, analyze, read, practice and create your own strategy before actual trading, of course you can take much time and dedication, but eventually you reach all your goals.
I will not reveal all my strategy, but reveal to them some of the techniques I use, which help operators in their trades.
My strategy follows the following tips and techniques:
1 – Discipline: Put criteria in its operations, observe the market and operate only to meet the criteria, if not met – do not operate. My program is the most disciplined trader, who is responsible for all this, observes the market and operates only when the criteria are met, and the second advantage of this program is to eliminate the fear factor, begins operating to see that it is a good time and he is not afraid.
2 – Money Management: The main key to a good trade; I stopped all my operations and stopped operating on a specific day when I lost -60 pips, in another hand put so-called “stop loss” in my operations if managed 25 pips profit, in this case the benefit is not subject to 25 pips and It has the open goal, and all you have to do is go out and have fun.
3 – Do not operate now: The most important thing in trading is sometimes refrain from trading. I take such a decision if there is not enough volatility in my letters or lack of reports published today; it is better to wait for the market more volatile. Advise operators not to operate in the first days of the month, I begin to operate the first Friday of the month when the report “Non-Farm payroll” is published.
4 – Análysis: Use the technical and fundamental analysis while operating. The fundamental define the market trend and technical analysis is used to define the trend. I can operate pro grammatically analyzing the news published data for a specific report and generate signals that are executed immediately on the trading platform and are sent simultaneously to my members. The technical and fundamental analysis are used together, if one is used without other this can cause failure.
5 – Technical Indicators: In the Forex market there are many indicators used by operators. Using ADX, Lingering Bands to identify trends and volatility; RSI to identify overbought or sale and Moving Average to identify a signal. And the most important technique is Fibonacci, I advise operators to apply this technique and use it to confirm operations.
Finally, I must say that Forex is not easy, and it seems very often that someone is making a conspiracy designed to take our money, but the truth is that nothing is impossible; other successful traders are not smarter than us and are not geniuses from another planet; more work brings us closer to our goal of becoming a good operator. Do not leave everything quickly because this business deserves the hard work and dedication.