25 rules of forex trading discipline .pdf
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. To get the free app, enter your mobile phone number. If you trade currency markets, this is the one book you need to own Foreign Exchange is by far the largest financial market in the world. Currency trading gives you the chance to make or lose huge sums of money very quickly. There are plenty of books promising to help readers navigate this volatile and liquid market.
25 Rules Of Forex Trading Discipline
To browse Academia. Skip to main content. Log In Sign Up. The 10 Essentials of Forex Trading -free-ebook-download. Channa Khieng. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of , no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data- base or retrieval system, without the prior written permission of the publisher.
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This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. DOI: We hope you enjoy this McGraw-Hill eBook! Dedication I T IS WITH THE utmost respect and my sincere admiration that I dedicate this book to my wife Susan; who has helped me watch my thoughts as they became my words, helped me watch my words as they became my actions, helped me watch my actions as they became my habits, helped me watch my habits as they became my character, and most importantly helped me build my character, which ultimately protected our destiny.
She is my partner for life! I further dedicate it to our eight children and three grand children, who have been a miracle in my life and forced me to stay humble. Thank you for being the grinding stone in my life.
May you all enjoy each day of your life—I love you all! Click here for terms of use. After his speech, the leaders of NASA franti- cally called the White House declaring his proclamation to be impossible. It is their talent and capability that allowed me the freedom to write this book.
Her sheer genius never ceases to amaze me. Thank you for opening up your homes and your hearts to me and my family. It has been through your perception of the world, the mar- ket and your countless challenging questions that have allowed me to widen my perception of the world and the market. In addition, I would like to thank all our staff and worldwide partners at MTI for their dedication, support and belief in our vision.
You are not only great business partners, but have become some of my best friends. I am deeply grateful to Jeanne Glasser and all the staff at McGraw-Hill who have participated in bringing this book to market. Thank you for believing in me. I cannot finish my acknowledgements without recognizing my parents who constantly grounded me in an attempt to harness my adventurous spirit. I give tribute to you all! Forex, or the foreign exchange market, offers incredible financial opportunity for those who are ready for the adventure, but it can be disastrous and financially devastating for those who are unprepared.
My focus as an author is to be a mentor to those readers eager to enter the world of Forex trading. Some of the material in this book took me years to discover, develop, and just plain figure out. I hope you will realize that this book, although written primarily for traders, is ultimately about self-improvement. I have discovered that no one can become successful at trading, or for that matter at anything, without first establishing their personal constitution. It is this aspect of yourself that either destroys you or allows you to succeed in life, and that includes Forex.
To be successful in your financial journey, you will need to be prepared for what the market demands the most—change and discipline! If you can- not find the courage to change and then remain disciplined to that change, you will be unable to develop a trading strategy that aligns with your per- sonality and your perception of life. If you can learn the when and the why, you will be able to make market movements work for you allowing you to capture the majority of potential profit from the move.
When you do this, you have discovered your personal holy grail in trading! I believe this book can become your holy grail if you let it! Trading needs to be fun, emotionally exciting, personally and finan- cially fulfilling, and stress-free.
You will also need to master your emotions. Success lies in mastering four skills, three of them technical. These technical skills include knowing: 1. How to find market direction in any time frame, anytime, 24 hours a day. How to establish a successful entry strategy that works consistently. Every trader wants the market to move in his or her direction from entry. How to create two solid exit strategies: one to protect yourself financially should the market not go your way, and one to capture profit if it does.
The remaining skill is more difficult; it is learning how to overcome the battle that takes place in your mind. Believe it or not, our daily destructive habits hold us back from achieving what is rightfully ours in this life.
Learning to become a successful currency trader is a dream highly sought after by countless people around the world. I am here to tell you that it is a worthy and attainable dream. Dreams are attainable! However, there is a set of steps that needs to be mastered in order to make your dreams come true.
This book will help you to learn these steps and to acquire the courage and commit- ment to take them. Always remember that man was not created to just get by—he was created to reach his highest potential! One wolf is very evil. It forces you to deal with anger, envy, jealousy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and a self-centered, destructive ego. The other wolf is good. It helps you to experience joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion, faith, self-respect, and to develop a giving, constructive ego.
There are successful people who have either been taught by a mentor, acquired some special knowledge, or implemented disciplines that enabled them to achieve their financial goals. The saddest part about this process is that most people do not display the sufficient humility and open-mindedness to acquire all this information and mentorship at an early stage in their lives.
I am adamant about one thing: if you are on the hunt for success in any field or any walk of life and have not yet acquired it, then perhaps you have been looking in the wrong places. The reason is universal: successful people focus on feeding the good wolf. Individuals who manage their mediocrity or poverty in life are focused on feeding the wrong wolf—the evil wolf. They carry around past emotional baggage and, in time, it becomes so heavy that all they can think about is survival.
This mindset seriously affects their personality, performance, and ability to maintain emotional control, which is essential for success in life and success in trading.
I have noticed a pattern among people around the world, regardless of country, race, or culture; they become what I call rainbow chasers. Every few months they come up with a get-rich-quick plan, but these endeavors are doomed to fail, and then comes the inevitable blaming. Very seldom do those people accept responsibility for their outcome and look inside themselves to discover why they have failed.
They go from one business opportunity to another, never achieving their end result, and are clearly locked into self-destructive habits. They repeat their bad habits, continue to chase rainbows, and fail at just about everything they do. Life is not capricious; it will always provide the rich and poor alike with new opportunities. Forex is such an opportunity.
This book will help you understand how to trade in Forex, or the foreign exchange market, and reap the financial outcome you desire.
Please embrace this inform- ation with excitement, because you will be given the exact education and trading tools used by some of the best money managers in the world. Whether you succeed or fail is solely determined by what is in your head and your heart.
Believe it or not, this is how history repeats itself in their lives. If this describes you, then this book can really help you make a change in your life. Not only does it teach the technical side of trading, but also it will force you to address some of those unproductive bad habits.
When trading Forex, your daily actions will be based on a clear productive mindset of: Reappointment versus disappointment Resilience versus resentment Better versus bitter A winner not a whiner A star not a scar A victor not a victim A conquerer not a crumbler The reality in life is that the choice is yours. Your success will be determined by how confident you feel, what you think, and how you respond when bad things do happen. In any financial or business endeavor, success starts in your head, is fueled by your heart, and the results are driven by your actions.
These will determine your Forex experience. In this book, you will learn certain disciplines and habits that will help you become a better trader. There are three questions you have to ask yourself before you trade: 1. Do I want to make a lot of money? Do I want to make an average income? Do I just want to get by and break even? You need to understand these things about yourself because the market tends to be self-fulfilling.
25 Rules Of Forex Trading Discipline. 25 Rules Of Forex Trading Discipline · Download PDF version. Most of the professional currency traders agree that trading without rules will not help you become a master of trading! Download pdf book by.
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