Hi guys, if you are using my Pips Mover forex trading system, then you should know that it only trades well for trendy market. Since the first day of my mentoring on forex trading, I have been receiving tons of emails from our members on many different questions. Surprisingly, a lot of the questions that came from the many different questions are about trendiness. People are asking me how do they determine whether their forex charts are trendy.

I always advice people to trade on forex markets when they are trendy because that’s the easiest for me to trade. I do not bother to look at forex charts when they are choppy or ranging ( I mean when the ranges are very small and no good opportunities to earn a bigger profit). Every forex strategy has it’s pros and cons, and of course I can’t say that my current trading system is near perfect, because it’s not. But what I’m confident is that, when you follow the rules of the trading system and have a good money management, you will likely to profit from the forex market.

The first thing that I would like to emphasize on is the trendiness of the forex market. This is important because when forex indicators produce a valid trading signal, it becomes invalid when a choppy market occurs. There will be whipsaws and the forex signals that are generated become useless, this happens to most of the trading systems. I know trendiness is very subjective to different individual and hard to determine when you are a beginner. Take some time to train your eyes, look from left to right on your chart on your first glance and see whether is it trendy. It’s hard to describe in words like this, I have attached 2 screenshots on the trendiness which I meant and hope this will help our traders. Good luck!

———> Trendy <———                             ——–> Not Trendy <———

(Click On The Forex Charts To Enlarge)

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Most People think that Forex Trading is easy and able to make quick money in a short period of time. This is one of the reasons why only 5% of the traders are successful and the majority of the 95% fail in the Forex market. Besides that, a lot of people lack a mindset that is essential for successful Forex Trading. Below are the 4 factors that most people lack of:

1. Discipline - This is a very important factor. Whether you are able to maintain successful Forex Trading in the long run will depend on this. As a disciplined trader, you have to follow the rules of a Forex Trading system and you do not break them. But on the other hand, you do not react to any signals appeared in the trading system blindly, you have to also understand the Forex market conditions. E.g. You may not want to go long on GBP/USD, when there are weak economic concerns about the U.K. market.

2. Trading Psychology - The inability to control the greed factor could lead to a downfall of your trading career. Always be satisfied with the profit target that you have planned and forget about the losses that you incurred in a failed Forex trade, there will always be more trading opportunities. Another bad habit of trading psychology is the Fear of losing a trade, meaning people may cut losses earlier or later. Leave it all to the target profit and stop loss that you have set, which means that you are consistent in everything you trade.

3. Money Management - Forex Trading is also about how good you manage your money. Do not trade all your capital, but only the amount that you can afford to loose. Plan on how much are you willing to risk per trade. I would recommend trading on 1% to 5% of your trading capital per trade. This ensures you have enough money to trade Forex when you loose some.

4. Consistency - If you can be consistent in the above 3 factors, then you should be making profits in Forex Trading, and consistently. A Forex trader can make a huge sum of profits in a short period of time, but if he/she lacks consistency, I can guarantee that the trader won’t make a successful trader in the long haul.

I understand that as a newbie trader, you may find it tough to follow the above 4 points. I have gone through that too. This is why Forex Trading is not as easy as one may think. But by learning to abide those rules and following my Forex Trading guide, which teaches Forex system trading, I can be sure that through hard work and determination, you can be one of the successful traders as well.

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Hey guys, I know no one can win in forex trading for every trade he does, but we can prevent from losing a lot with some forex strategies in place. Imagine that if you risk 2% of your trading account on every trade, a small losing streak of 5 trades will mean that it will cost you a 10% loss in your account. Although it’s not considered a very big amount, but the thought of losing 5 trades in a row is a very daunting experience for those traders who are just learning to trade forex.

You have to remember that the psychological of human is very reactive. We humans are very emotional when it comes to forex trading. In mathematics, we can say that we only risk a trade with 2%, but it can accumulate can becomes 5% the next time you have another trade . Why? This is because most newbies will make a mistake of overtrading or have the mindset of trying to revenge the losses they incurred. Before they knew it, they already lost much of their trading account. So what you can do is to take a break from the forex market if you have few losing trades in a row.

1. Kill Your Losing Streak – If you have noticed, losing streaks usually start off with small losses. It may be a little mistake that you have made in technical analysis or that particular day is just a day with bad luck, which leads to your lost forex trade. Then from there, you want to try again and hope to recoup the losses. But the losses amplifies and everything repeats again. In order to reduce losing streaks, you have to cut the losing streaks short and close the charts to take a rest. This will prevent you from wanting to trade more, leading to more mistakes made.

2. Take a Break From Trading and Clear Your Head – You might lose your concentration if you stare at the forex charts for a very long time or the losing streaks might be caused by information overload. Once you sense that, go for a short break before coming back again to trade. You should always look at the charts when your mind are refreshed.

3. Preserve Your Trading Capital – This is the most important forex tips. If you have lost all your capital, then how are you going to trade again? Always trade a small margin of your forex trading account according to your money management rule. This will prevent you from losing your hard earned money from making stupid mistakes.

When I was a newbie, I had some losing streaks using my demo account. Luckily it’s not a live trading account! During then, I did not implement any money management rule. Until when I realised that money and risk management is a important factor for me to be successful, I started using those rules and from then, my trading account kept growing.

So please do not be reckless in your trading no matter what your forex trading strategies are. Build your gains slowly and you’ll take a step to being successful in forex trading.

Have You Got My Free Forex Ebook?

Learn to trade forex using my simple, time tested and proven forex trading system, CLICK HERE to download my free 56-page “Forex Trading To Riches” ebook now. You will also receive my free weekly PowerPips Newsletter jammed packed with useful forex training, forex signals, forex strategies in the forex market, forex forex education etc. If you have any further comment please do remember to comment below.

If you’re new here and like what you read, please subscribe to my blog feed or sign up for free email updates.

You can also find out what I am doing now by following my Twitter here.