This FAP turbo review 2009 will look into the FAP turbo expert aide. This article is going to identify if the claimed expert advisor robot is earning or not. This EA is a Metatrader four foreign-exchange trader machine. It is automated by the way. You set it onto 15-minute charts and just leave it to do its stuff. See more about best forex trading robots compared below. It all occurred on the 19th of January of the current year, just a few days after the start of live trading. It did not happen to just the author but also to a number or people, particularly traders of the same currency pair. See more about best forex trading robots compared below.
The loss was quite huge since two weeks’ worth of profit all went into smoke. What happened? Is the EA any good at all? How did such a loss happen? These were the questions raised because of this debacle. This robot still can earn money. The reason behind Jan 19th’s draw down was the incontrovertible fact that the banking world of the United Kingdom crashed at that point. See more about best forex trading robots compared below. It’s not perfect. You will still have to look at the markets and check for any appearances of volatility. If there are signs of this sort of situation, you just need to switch off the system for that day and skip trading. The final analysis is that this EA will still make you a lot of money. After the draw down, the author was able to recuperate his losses and commence with the same amount just before the draw down. If you are looking for a actually good forex robot, then this robot is the one for you. See more about best forex trading robots compared below.
FAP Turbo is meant to immediately analyze trading information. It gives a real time trading results from one or two accounts and the trader can get updates every 15 minutes.See more about best forex trading robots compared below. It has the lowest starting capital which is about $50. See more about best forex trading robots compared below. It also employs a particularly particular algorithm method that permits it to forestall losses and optimize its returns. See more about best forex trading robots compared below.First, this is very easy to download and it would not take almost all of your time installing it.
There are professional advisors to watch the trading and will start orders if you need it. See more about best forex trading robots compared below. If and ever a user encounters some troubleshooting Problems with the software, FAP Turbo claims to a have a ready client support system which will handle clients’ questions, aside from the manual included in the package to help users install the system. See more about best forex trading robots compared below. You can use this manual as a reference to guide you along the way if online help isn’t readily available. Free updates for this programme are also offered. From here, you can get and download obligatory updates or program revision for your software. See more about best forex trading robots compared below. Like any ventures, money trading incorporates a lot of hazards to take and avoid so it’s way better to first try the demo program available till you master the system and become used to its interface. After you refined your abilities using this automated trader, you can let FAP Turbo do the trading and analyzing while you relax and luxuriate in the fruits of your investments.
: Compare Top 10 Forex Robots And See Live Trades Online! As Seen on CNN, CNBC, FORBES and Money Networks. See which Forex Robot is the most profitable Forex Trading Robot Online, Real Time! : $25,000 BONUS From Recent Live Forex Course Held in Vegas. Latest Enhanced Version of Forex Robots Used by Top Forex Traders Internationally. Find out which Forex Robot is Being Used
This FAP turbo review 2009 will look into the FAP turbo expert counsel. This article is going to determine if the claimed expert aide robot is earning or not. This EA is a Metatrader 4 foreign-exchange trader machine. It is automated incidentally. See more about best forex trading robots compared below. The testing started on Jan five, 2009 with a start-up capital of £500. It didn’t happen to just the author but also to a number or folk, specifically traders of the same currency pair.
In reality, this robot was performing really well before the draw down. See more about best forex trading robots compared below. The GBP was seriously affected, making it actually volatile. See more about best forex trading robots compared below. It’s not perfect. You may still need to glance at the markets and check for any appearances of volatility. If there are signs of this sort of situation, you only need to switch off the system for that day and skip trading. This isn’t so bad. The base line is this EA will still make you a lot of cash. If you’re looking for a really good forex robot, then this robot is the one for you. See more about best forex trading robots compared below. Although it went through some bad trading day, it still was able to hold it’s own. For FAP turbo review 2009, this automated expert counsel is reasonably good.
FAP Turbo is meant to automatically analyze trading info. By using this program a trader isn’t needed to have a huge amount of starting capital to proceed. It has the lowest start-up capital which is about $50. FAP Turbo could work fulltime all week without the trader’s intervention and is known for it’s nearly 95% positive turnout in its 9 years since it was first conceived and has only less than 0.45% negative results. It also employs a very distinctive algorithm method that allows it to forestall losses and optimize its returns. And because it is also equipped with a strict risk management program, FAP Turbo reduces deficits more effectively. See more about best forex trading robots compared below.First, this is easy to download and it would not take the majority of your time installing it. It also has a video tutorial which will give you step by step instructions on how to correctly install and operate FAP Turbo. Once installed, this automated trader is all set to do the trading for you with correct results and dependable information.
See more about best forex trading robots compared below. See more about best forex trading robots compared below. It also provides lifetime client membership on their online site. From here, you can get and download necessary updates or program revision for your software. See more about best forex trading robots compared below. Like any ventures, cash trading comes with lots of hazards to take and avoid so it’s way better to first try the demo program available till you master the system and become used to its interface. After you refined your abilities using this automated trader, you can let FAP Turbo do the trading and investigating while you sit back and enjoy the fruits of your investments.
: Compare Top 10 Forex Robots And See Live Trades Online! As Seen on CNN, CNBC, FORBES and Money Networks. See which Forex Robot is the most profitable Forex Trading Robot Online, Real Time! : $25,000 BONUS From Recent Live Forex Course Held in Vegas. Latest Enhanced Version of Forex Robots Used by Top Forex Traders Internationally. Find out which Forex Robot is Being Used
This FAP turbo review 2009 will look into the FAP turbo expert advisor. This newsletter will establish if the declared expert counsel robot is earning money or not. This EA is a Metatrader 4 foreign exchange trader machine. It is automated BTW. You set it onto 15-minute charts and just leave it to do its stuff. This EA has essentially been tested on live markets. See more about best forex trading robots compared below.
The loss was quite large since two weeks’ worth of profit all went into smoke. What happened? Is the EA any good at all? How did such a loss happen? These were the questions raised because of this disaster. This FAP turbo review 2009 closely analyzed the whole eventuality and was ready to draw a favorable conclusion. The cause of Jan 19th’s draw down was the undeniable fact that the banking world of the UK crashed at that point. The GBP was significantly influenced, making it really volatile. See more about best forex trading robots compared below. Why did this happen? Are not these EA’s built with risk caution systems? The answers to these questions are quite plain. The EA itself has some failings, just like any application. The lesson the author was ready to acquire was that you can’t just blindly turn on the EA and leave it as it is. You’ll still need to look at the markets and check for any signs of volatility. If there are signs of this kind of situation, you simply need to switch off the system for that day and skip trading. These categories of scenario only occur often. See more about best forex trading robots compared below. If you’re looking for a actually good forex robot, then this robot is the one for you.
It gives a real time trading results from one or two accounts and the trader can get updates every 15 mins.See more about best forex trading robots compared below. By using this program a trader is not needed to have a big quantity of startup capital to proceed. It has the lowest start-up capital which is about $50. FAP Turbo could work fulltime all week without the trader’s intervention and is famous for it is almost 95% positive turnout in its nine years since it was first conceived and has only less than 0.45% negative results. It also employs a particularly distinctive algorithm methodology that permits it to stop losses and optimize its returns. And because it is also equipped with a strict risk management program, FAP Turbo reduces deficits more effectively. See more about best forex trading robots compared below.Setting this software up isn’t a problem. See more about best forex trading robots compared below.First, this is so easy to download and it would not take the majority of your time installing it.
There are pro experts to watch the trading and will start orders if you want it. See more about best forex trading robots compared below. If and ever a user encounters some troubleshooting Problems with the software, FAP Turbo claims to a have a prepared client support system which will handle clients’ queries, apart from the manual included in the package to help users install the system. Free updates for this programme are also offered. It also provides lifetime client membership on their internet site. From here, you can get and download obligatory updates or program revision for your software. See more about best forex trading robots compared below. Like any ventures, money trading incorporates lots of risks to take and avoid so it’s way better to first try the demo program available until you master the system and become used to its interface. After you refined your abilities using this automated trader, you can let FAP Turbo do the trading and analyzing while you sit back and luxuriate in the fruits of your investments.
: Compare Top 10 Forex Robots And See Live Trades Online! As Seen on CNN, CNBC, FORBES and Money Networks. See which Forex Robot is the most profitable Forex Trading Robot Online, Real Time! : $25,000 BONUS From Recent Live Forex Course Held in Vegas. Latest Enhanced Version of Forex Robots Used by Top Forex Traders Internationally. Find out which Forex Robot is Being Used
It’s finally here! The Surefire Trading Challenge Has Ended! 12 Amazing Forex Systems Revealed!
Is Mark McRae’s Surefire Trading Challenge BOOM or BUST? Find Out Below!
From the Desk of: Brian T Location: Columbus, United States Product: Surefire Trading Challenge Release Date: September 1st, 2009 Product Type: Forex Trading Systems
Limited Places Available, Click Here to Secure Your Spot in the Members Area
Hello, friends and fellow Forex traders and thank you for trusting me with your time to read this no holds barred review of one of the most hyped and highly expected Forex launches this year: The Surefire Trading Challenge by Mark McRae!
If you have not lived under a rock these last months I am sure you have heard about the Sure Fire Trading Challenge? If you haven’t, here is the deal: Mark McRae, a veteran Forex trader and ‘guru’, held a Forex trading contest some months back which he called, yes you guessed it: The Surefire Trading Challenge. The rules of the competition was simple. The one trader who made the most money in one month would win Mark’s contest and join his team. Why was this so attractive a prize? Except for the money, the winner made over 2900%, you also get to rub elbows with the man himself Mark McRae. As you can read elsewhere on my site, Mark McRae is a highly respected and very very successful Forex trader and has been so for many years going strong.
The only condition to join in Marks competition was that the winners had to publicly disclose their trading systems to Mark’s subscribers. These contests resulted in 25 new profitable Forex trading systems. These Forex systems are what Mark is allowing his subscribers to get with the Surefire Trading Challenge Relaunch! Very interesting to say the least. But can we be sure that these Forex trading systems work? How do we know we can make money from them? That’s what I am going to go over in this Surefire Trading Challenge Review right here for you! I was very lucky to get my hands on this product before it went live and I have tested it out extensively so you can make the right decision.
Sure Fire Trading Challenge Bonus
I want to make sure you leave my review with something of value, even if you join the Surefire Trading Challenge or not. Before I get started with the actual review, let me show you my bonus package. It really took me a while to assemble this package and I feel like it has a lot of value. I certainly shouldn’t be giving it away for FREE, but that’s what I am going to do for anyone who joins the Sure Fire Trading Challenge from my review site. So before I give you the lowdown on the Surefire Trading Challenge, why don’t you sign up for my newsletter which will explain exactly what valuable tools you will receive in my bonus package worth over $997 (in real value), plus you’ll get a FREE sign up bonus in your email box as soon as you sign up!
Who Is Mark McRae?
When I buy a new product I like to know something about the guys behind the wheel, so to speak. I want to know if they really are who they say they are. I mean, if they can’t prove to me that they can make money, how can I expect them to make money for me? Right? So I took a look at the guy behind the product.
Mark McRae is a former professional forex trader. I haven’t been able to determine exactly where he was working, probably a non-disclosure agreement, but rumors in the industry have it Mark was employed in a very high level institution before he quit to go solo. Think top 3 financial institutions. With the way many banks have completely failed recently, I can understand why Mark chose to get out. In fact, thats one of the reasons he mentions to me, he was tired of making money for his incompetent bosses.
He found out, he could make much more money trading for himself. Of course this didn’t make him very popular with the establishment, but I think he is OK with that. Anyway, Mark McRae went on to set up a very successful membership site, which culminated in the Surefire Trading Challenge this year. This is the membership site that you will get access to if you decide to purchase his product.
What Do You Get With The Surefire Trading Challenge?
Surefire Trading Challenge is the whole package. I must say, I have been very pleasantly surprised by this product! I consider myself to be one of the top 10% amateur traders online and I was literally blown away by the value this package has.
OK, lets look at what you get:
* Access to the winners of the Surefire Trading Challenge. There are now 25 of the top systems there.
This is the real GOLD here! These trading systems are the one’s that the entire community has been wanting to get their hands on, since the results of the competition were revealed! I have been lucky to test out one of these and was amazed at how simple and easy it was to follow the same trading strategy. It is still to early to say, and I don’t want to brag, but so far I seem to be even a little above what I should expect. I must say, for someone who only trades for the sport, this really has made me considering turning pro.
* Live training once a week from a professional trader & Live Trading Coach
This is a very nice extra from Mark. We get to have a live video conference with an experienced and seasoned trader once a week. Tutoring is perhaps the most important aspect of Forex trading, so I am very happy to see that Mark agrees.
* Video of the month from members of the club
This is going to be exciting as this community grows and we can learn from each other as we try to be the best!
* One of the most active forums on forex trading anywhere
I have said it many times before, but support and encouragement is alpha and omega in this business. Use all the tools you have available to you!
* Professional traders ready to help members with any trading problem
Finally we have support from professional traders standing by to answer questions 24/7!
Is It Worth It? Does Surefire Trading Challenge Deliver?
In one word: YES!
I am not easily swayed by hype and promotion and I went into this cautiously even though I’ve heard of Mark from previous products. But to be honest, this product is pure gold for anyone who wants to improve as a trader and be more profitable as a forex trader. The 25 systems are a guarantee for success, well, at least until the rest of the world catches on. This is why Mark must limit the amount of people he lets into this community; so the integrity of these systems are kept in tact with his members only. That’s why I strongly recommend you to join up NOW before the secret gets too much exposure. The doors are opening September 1st, so sign up below to get immediate notification of when the doors open & be eligible for my killer Surefire Trading Challenge bonus worth over $997! DONT MISS OUT!
Would you like to know more? Check out for more information about
So you have heard about the existing launch of Surefire Trading Challenge and now you want to know who Mark McRae is? Read on! I am going to give you the full background on Mark McRae and tell you just why he is one of the most prominent and cutting edge guys in the Forex business.
Who is he then? Mark McRae is a very well known expert forex trader and analytic who has been in the forex market for more than a decade, earning his grades in financial institutions around the world and making his bosses a lot of money before he decided to go on his own some years back. Rumor has it, he once held down a top manager position in the Forex department of a well known major financial institution, which is now doing not so well due to the financial crisis. I guess Mark predicted this as well and got out while he still could with his integrity intact.
Well, Mark has now decided to focus on making money for himself and the members of his site. And all the better that is for aspiring and experienced traders. Most of us, if not all, can really learn something from this guy. The word ‘guru’ is thrown around a lot these days, and to cheaply, but in the case of Mark it really applies to him. He really is a ‘guru’ in Forex trading and always looking to come up with new and profitable trading systems.
Mark has explained earlier how he decided to go into the forex education market after he himself tried most products out there as a consumer and found them lacking in quality and being way to expensive for most people. I actually agree with him on this. Most software and educational material out there is simply not useful or those that are, have a price that puts it outside the reach of most individual traders.
So what Mark did was create a strong new community of traders and friends who would share their trading systems and work on perfecting them, step by step, dollar by dollar until they could win more than the competition. Then when they had a method to rely on, they would test it diligently over and over risking their own money in the process. Over the years that led to the valuable information that is now available to the public through his membership sites.
Mark’s newest product and the most anticipated product for a long time in the forex trading community is called Surefire Trading Challenge. The idea behind the challenge was to get traders to put their money where their mouth was. In other words, put up or shut up.
This resulted in 526 competitors who were not afraid to test themselves against the best to win Marks challenge. Out of those 526, only 6 people would be called winners and be allowed onto Marks team. The challenge was a big success with the most profitable trader making over 2000% in only one month, Truly remarkable! The only condition to enter into this competition was that you agreed to disclose your trading strategy should you win the competition, and this is exactly what Surefire Trading
challenge has delivered: 12 Money Making Highly Profitable Forex Trading Systems ready to pick up and use for anyone who joins the community.
Now Mark is usually not one to oversell his products, so for this launch he has added a whole lot of extra value to his offer including live support with experienced traders and video tutorials as well as one of the most active expert forums online on forex trading.
Would you like to know more? Check out for more information about
This FAP turbo review 2009 will look into the FAP turbo expert advisor. This article is going to establish if the said expert advisor robot is earning money or not. This EA is a Metatrader 4 foreign exchange trader machine. You set it onto 15-minute charts and just leave it to do its stuff. See more about best forex trading robots compared below. Quite recently, the author of FAP turbo review 2009 experienced a massive loss. It all happened on the 19th of January of the present year, just one or two days after the beginning of live trading. The author was using the EURGBP currency pair. It didn’t happen to just the author but also to a number or folks, specifically traders of the same currency pair.
What happened? Is the EA any good at all? How did such a loss happen? These were the questions raised due to this screw up. This FAP turbo review 2009 closely investigated the entire eventuality and was ready to draw a good conclusion. In reality, this robot was performing really well before the draw down. The reason behind Jan 19th’s draw down was the undeniable fact that the banking world of the United Kingdom crashed at that time. The GBP was greatly influenced, making it actually volatile. As a result, the EA became volatile too. Why did this happen? Aren’t these EA’s built with risk avoidance systems? The solutions to these questions are quite obvious. It’s not perfect. In reality, nothing is perfect. You will still need to glance at the markets and check for any signs of volatility. If there are signs of this kind of situation, you just need to turn off the system for that day and skip trading. This isn’t so bad. These types of eventuality only occur infrequently. See more about best forex trading robots compared below. The bottom line is that this EA will still make you a lot of money. After the draw down, the author was in a position to recuperate his losses and begin with the same amount just before the draw down. Although it went through some bad trading day, it was ready to hold its own.
FAP Turbo is meant to mechanically analyze trading information. It gives a real time trading results from 1 or 2 accounts and the trader can get updates every fifteen minutes.See more about best forex trading robots compared below. By using this program a trader is not required to have a huge quantity of starting capital to proceed. FAP Turbo could work full time all week without the trader’s intervention and is legendary for it is almost 95% positive turnout in its nine years since it was first conceived and has only less than 0.45% negative results. See more about best forex trading robots compared below. It also employs a particularly particular algorithm methodology that permits it to stop losses and optimize its returns. See more about best forex trading robots compared below.Setting this software up isn’t a difficulty. See more about best forex trading robots compared below.First, this is very easy to download and it would not take almost all of your time installing it. Once installed, this automated trader is all set to do the trading for you with correct results and trustworthy information.
See more about best forex trading robots compared below. Free updates for this software are also offered. It also provides lifetime client membership on their online site. See more about best forex trading robots compared below. Like any ventures, cash trading comes with lots of risks to take and avoid so it is better to first try the demo program available till you master the system and become used to its interface. After you refined your abilities using this automated trader, you can let FAP Turbo do the trading and researching while you sit back and revel in the fruits of your investments.
: Compare Top 10 Forex Robots And See Live Trades Online! As Seen on CNN, CNBC, FORBES and Money Networks. See which Forex Robot is the most profitable Forex Trading Robot Online, Real Time! : $25,000 BONUS From Recent Live Forex Course Held in Vegas. Latest Enhanced Version of Forex Robots Used by Top Forex Traders Internationally. Find out which Forex Robot is Being Used
This FAP turbo review 2009 will look into the FAP turbo expert aide. This newsletter will establish if the claimed expert advisor robot is making money or not. This EA is a Metatrader 4 foreign-exchange trader machine. It is automated incidentally. You set it onto 15-minute charts and just leave it to do its stuff. This EA has basically been tested on live markets. See more about best forex trading robots compared below. The testing started on Jan 5, 2009 with a start up capital of £500. The writer was using the EURGBP currency pair. It didn’t happen to just the writer but also to a number or folks, specifically traders of the same currency pair. See more about best forex trading robots compared below.
This FAP turbo review 2009 closely investigated the whole eventuality and was ready to draw a positive conclusion. You could be thinking about why FAP turbo review 2009 still gave this expert counsel a good review after a particularly bad loss. In reality, this robot was performing really well before the draw down. See more about best forex trading robots compared below. As a consequence, the EA became variable as well . See more about best forex trading robots compared below. Why did this happen? Are not these EA’s built with risk avoidance systems? The solutions to these questions are quite plain. It isn’t perfect. The lesson the writer was in a position to obtain was that you can’t just blindly turn on the EA and leave it as it is. You’ll still need to glance at the markets and check for any signs of volatility. If there are signs of this type of situation, you just need to turn off the system for that day and skip trading. This is not so bad. These categories of scenario only happen infrequently. See more about best forex trading robots compared below. After the draw down, the author was able to recuperate his losses and begin with the same quantity just before the draw down. If you are looking out for a actually good foreign-exchange robot, then this robot is the one for you. See more about best forex trading robots compared below. For FAP turbo review 2009, this automated expert counsel is reasonably good.
FAP Turbo is meant to immediately investigate trading info. It gives a real time trading results from 1 or 2 accounts and the trader can get updates every fifteen minutes.See more about best forex trading robots compared below. By using this program a trader isn’t needed to have a big quantity of starting capital to proceed. It has the lowest starting capital which is about $50. It also employs a very distinctive algorithm methodology that allows it to stop losses and optimize its returns. And because it’s also provided with a strict risk management program, FAP Turbo decreases deficits more effectively. See more about best forex trading robots compared below.First, this is so easy to download and it wouldn’t take almost all of your time installing it. Once installed, this automated trader is all set to do the trading for you with accurate results and dependable info.
There are professional advisors to observe the trading and will start orders if you need it. See more about best forex trading robots compared below. See more about best forex trading robots compared below. It also provides lifetime client membership on their online site. See more about best forex trading robots compared below. Like any ventures, money trading comes with lots of risks to take and avoid so it’s much better to first try the demo program available until you master the system and become used to its interface. After you refined your abilities using this automated trader, you can let FAP Turbo do the trading and investigating while you relax and revel in the fruits of your investments.
: Compare Top 10 Forex Robots And See Live Trades Online! As Seen on CNN, CNBC, FORBES and Money Networks. See which Forex Robot is the most profitable Forex Trading Robot Online, Real Time! : $25,000 BONUS From Recent Live Forex Course Held in Vegas. Latest Enhanced Version of Forex Robots Used by Top Forex Traders Internationally. Find out which Forex Robot is Being Used
This article is about money management and trading psychology. This is the lesson that you never get with 99% of other Forex systems that you have come across.
I find it interesting that most of the systems out there don’t include this because if they actually were successful traders, they would know that this was the key to success and to leave it out makes an incomplete system that won’t work!! This tells me that the people that wrote them or are selling them aren’t traders at all. They are just in the business of selling HOPE!
Well, if you haven’t noticed yet, I am a trader, and I am different than the others. Don’t get me wrong, there are honest trainers out there, I learned from one and I am eternally grateful to him.
So let’s get on with this. First of all, this is my own interpretation of several sources, and the practices that have worked for me. Please read EVERYTHING you can find on trading psychology, and money management. There are a lot of slightly different views but overall, they are very similar and the main important points are all pretty much the same.
There are two main issues that cause 99% of the problems. Can you guess what they are? If you answered FEAR and GREED, you are correct. These two emotions are probably responsible for 99% of the worlds problems as well but that is beyond the scope of this course À .
So, now that we know what the big obstacles are, let’s try and figure out how to overcome them. In the course of my lessons, I have listed a few but I will put them all together here in one place so that it is easier to follow, and perhaps make it easier for you to develop your own system to help you trade better.
We can’t eliminate fear and greed. They will still be there in your heart and mind, but we can make some rules so that they don’t interfere with your trading success. We can come up with systems and procedures to follow, since we KNOW ahead of time that fear and greed are major problems. I’m sure you have heard the statistic that 95% of all speculative leveraged traders FAIL. This is absolutely true. Here is another statistic that I believe…100% of traders that don’t know how to overcome fear and greed will FAIL. So does that mean that if I can teach you how to overcome these problems that your chance of success is 100%? Of course not. But I can tell you that you cannot be successful if you don’t protect yourself from yourself.
In lessons 1-3 I have outlined a trading system. The first thing you must do, whether you follow my system, another system, or your own system is to follow the rules of the system WITHOUT FAIL. If your system calls for a certain entry point, do not enter until there is a signal to enter.
Systems are designed for a reason. That is why it is called a system. What do we learn from this? Patience. Perhaps the stupidest thing you can do is enter a trade on a hunch. This brings us to our first FACT:
The odds are in your favor before you enter a trade. This is true for most trading systems. Void of fear and greed, if you follow each system exactly, you will profit. Some systems may offer better profits than others, but overall you should be able to profit with any system, IF you have no fear and no greed.
This brings us to THE BIG SECRET. Other than omitting trading psychology, other systems also don’t tell you that you are playing a game of odds. Let’s say for example that we are playing “coin toss.” Theoretically, for 100 flips of the coin, 50 will come up heads, and 50 will come up tails. Of course, the first 100 may be 55/45, but the more you play, the closer to 50/50 the numbers will get. Our system for “coin toss” is as follows: We play for 20 hours, and flip the coin exactly 5 times each hour, and for every heads that comes up, we get paid $2, and for every tails that comes up we pay $1. This should be a profitable system. After our game we see that heads came up 50 times and tails came up 50 times. (Stay with me here). So at the end of 100 tosses, we have paid $50 and received $100. A profit of $50.
So let’s say that during our second game of coin toss, we decide that we are going to let the flipper(hint: the market is the flipper) keep flipping the coin for an hour while we take lunch but we are not going to pay or be paid for those flips. During our lunch hour, heads comes up 5 times in a row (which is theoretically possible, and not that unlikely). And now we are back from lunch, and we are down $10 for the hour. Now, theoretically the odds of 5 tails in a row coming up after 5 heads in a row are pretty good because for every ten tosses, you should have about 5 heads and five tails. So now we get 5 tails in a row and now we are down another $5, for a total of $15. So not counting the 5 tosses during lunch, this leaves 90 tosses that we still have to account for and let’s say that they were 45 heads and 45 tails. Our profit for these tosses is $45 (45×2 minus 45×1), now if we take away the $15 for the tosses we didn’t take, and that string of losers, we are left with a profit if $30. So lunch and 5 lousy spins cost us 40% of our profits.
Now this is theory but it absolutely applies to this market. If you are picky about what trades you want to take and what trades you don’t want to take, you are MESSING
WITH THE ODDS. My point for this whole big story about “coin toss” is this: If the conditions are met, TAKE THE TRADE without hesitation. The odds are in your favor, but only if you take ALL of the trades that meets the conditions. When I say ALL trades I know the market is open 24 hours a day and you can’t possibly take every trade. You need to pick a time frame and stick to that same time frame everyday and take ALL trades during that time frame.
I can tell you that in the month before I realized this (my first month of trading real money actually), my total profit was 92 pips. I had an idea of what I was doing wrong so I was keeping track of the trades that I didn’t take along with the ones that I did. I included entry point, day, time, and whether the profit target was hit or if it was stopped out. Don’t get me wrong, I was extremely happy to be in profit after trading for only one month with real money. But then I went back and looked at the numbers for “what could have been.” Guess what? Had I taken every trade that met my conditions, my profit for the month would have been 355 pips! I was not happy. But soon I realized that I had messed with the odds. After realizing what I had done wrong (or not done right in this case) I began to have more confidence in my systems. The very next month my total profit was 515 pips, or a 560% improvement just for taking all of the trades that met the conditions. I think that is enough said about that.
Sorry to stay with the coin flip game here but it actually works very well in teaching these principles. This brings us to FACT #2. You do not need to know what is going to happen to make money. If we know that we are going to make $2 fifty times and pay $1 fifty times as long as we flip the coin, are we going to play? Of course! Well, all trading systems have similar odds. From my testing, I know that this system on average will produce 9 wins of 20 pips for every 1 loss of 40 pips (that number may vary but that is the maximum loss I ever take). So we know ahead of time that 9 wins at 20 pips is 180 pips, and minus the loss of 40 pips, leaves us with 140 pips profit. Now keep in mind that you may be 8 and 2 this week and 10 and 0 next week. We never know when a loss is going to come. We may even lose every trade for a week, but not lose a trade for the next 9 weeks. Believe me it happens. You do not need to know exactly what is going to happen, you just need to take every trade that meets the conditions and then count your profits at the end of the month/week/year etc.
This section deals with money management as well as psychology. Back to coin toss for a minute. We know that each win brings us $2. And we know that for each win in this trading system we get 20 pips. We know that each tail that comes up costs us $1. And in our system we know that each loss is 40 pips. If we know what our loss is going to be ahead of time, we know what it is going to cost us to find out “what is going to happen.” From this we can decide how much we want to risk based on our account size.
FACT 3: You know how much it will cost to find out. I have decided not to ever risk more than 5% of my account on any one trade. So knowing that, I can figure out how many lots to trade ahead of time based on my account size. It may cost $250 in margin for a 1 lot position but this is not what we are risking, we are actually risking ten dollars times the number of pips in our stop. If our stop is 40 pips, we are risking $400. Now we know that we better have at least $8000 in our account to take a position of this size. If this trade turns out to be a loser, and our balance falls to $7600, we know that we can’t afford to take that trade again because a loss of $400 is more than 5% of our balance. We would need to adjust our number of lots down accordingly to keep our risk <5%. We also don’t want to increase our lot size to try and make up for that loss. Always reduce your risk if your account balance falls. The next thing we don’t want to do is immediately increase our lot size after a winning trade. It is better to trade at the same lot size for 15 or 30 days at a time before increasing lot size. This allows the account to build steadily without large swings in either direction.
FACT 4: There is a random distribution between wins and losses for any given set of variables that define an edge. Your trading system is your edge, but you never know in what order your wins and losses will come. Be prepared for this and accept the losses, knowing that the odds are still in your favor.
This brings us to our final two facts.
FACT 5: Every moment in the market is unique. Yes we use pattern recognition to define our edge but there are so many variables in this market that it is impossible to ever have the conditions exactly the same as any other moment. You could play 100 games of coin toss and no game will have the exact same order of wins and losses, even though they may have similar outcomes.
FACT 6: Because of fact #5 we know that ANYTHING CAN HAPPEN. This is why it is important to follow the trade rules exactly and play the odds. Every broker/trading system has a disclaimer that says basically “do not trade with money you can’t afford to lose.” The best thing you can do when you open your real money account is to mentally consider that money GONE. If you are not afraid to lose it, you will save a lot of stress and your trading will improve. Only you can determine what you can afford to lose, so just don’t put more in there than you are willing to lose. Compounding is an amazing thing that we will talk about in section 5, and the money will come if you follow the rules. If you start with less, it will just take a little longer but once again you will save a ton of stress.
TRADING WITHOUT FEAR AND GREED
1. I Objectively identify your edges. You have a system here that works, enough said. 2. I Pre-define the risk of every trade. We covered that in FACT #3. 3. I Completely accept the risk. Consider the money GONE.
4. I ACT on my edges without reservation or hesitation. Follow the rules and take every trade that meets the conditions. 5. I pay myself as the market makes money available. Take your 20 pips and be happy, or trail your stop. Even if you are compounding your account, pay yourself something out of your profits each month. It will make you feel better. (On a side note: I take 20 pips for every trade until I am up 200 pips for the month. I do not even think of trailing my stops until I am up 200. Once I am comfortably in profit, I start to look for solid opportunities to trail my stop and grab some extra pips.
Even if they only go 20 and then come back, I still make 5 pips. 20 of those still adds up to another 100 pips.) 6. I continually monitor my susceptibility for making errors. I read Mark Douglas’ book monthly, and make up sheets with my rules on them that I read daily. This helps me to see plain as day when I make a mistake. 7. I understand the absolute necessity of these principles, and therefore I never violate them. I have included a sheet that you can print out to keep near your computer to read every day. Read these facts and rules every day even if you memorized them. Finally,
FOUR STUPID THINGS The first stupid thing you can do is to close a position early because you think it is going to go against you. Just because you have an edge over the market does not mean that price will immediately shoot up or down to your target. Price will move up and down and will even probably move against you before it moves in your favor. If you let FEAR of LOSS get you, you will lose money. If the market is going to take you out, let the market take you out by taking out your stop. That is why it is there. The odds are still in your favor.
The second stupid thing you can do is to close a position early because you don’t think (or you are AFRAID) that it won’t reach your target. If you don’t play the odds properly, you will not realize the full profit potential. What if in our coin toss game we decided that we were going to take our profit for a “heads” at $1 instead of the $2 that we were supposed to get paid? If you remember, our profit was $50 for the first game. If we had only taken $1 for each win, we broke even. That is a lot of effort for nothing. Even worse, if we make some mistakes along the way (we all know that we are perfect traders right?) as we did in game number 2 where our profit was $30, we can lose money by not taking enough profit. Remember that we had a $15 loss for our mistake and 90 spins remaining. If we had taken only $1 for each of our 45 winning spins we would have broke even, minus the $15 puts us down $15 overall instead of being up $30. The system is designed for a 20 pip target, GO FOR IT.
The third stupid thing you can do is to get greedy. As I said in my sales material, if you had shot for 30 pips instead of 20 for the trades I listed, the profit would have been about half of what it was for taking just 20. Interesting how this whole thing works, huh?
Just taking 5 or 10 pips can be considered GREED as well as FEAR since you are so afraid of loss that you get greedy for those 5 or 10 pips compared to the potential loss of 20-40 pips. Don’t let it get you, follow the rules and be happy with your 20 pips.
The fourth stupid thing you can do is move your stop, believing that the market will eventually go in your favor. This is the fastest way to lose money. We are DAY traders. Yes the market may go in your favor but it may move 300 pips the other direction before it does, if it does. This could take weeks or months and you have a limited account balance. If 5% of your account is tied up waiting this position out, guess what. You are missing 20 other opportunities to make money instead of just sitting there waiting, down a hundred pips while you miss the opportunity to make 20 trades for 20 pips each. Maybe you break even, when you could be up 400 pips. JUST DON’T DO IT.
THE BEST THING YOU CAN DO
Once you place your trade, and place your stop and limit, TURN YOUR COMPUTER OFF and go do something else. You are now in automatic mode, and the market will take you out, either for a profit or for a loss. This is the best way to eliminate the temptation to succumb to FEAR or GREED and do something stupid.
The rest is up to you. Only you can decide whether or not to follow the rules and believe in the facts. This lesson is the most important to your success and I hope you won’t take it lightly. If you are trading and following the rules of your system, and not making money, you need to take a look in the mirror. It is not the system that is the problem, it is you. I am not trying to be harsh, but when I was not making money, it was not the system it was me so you are not alone. Don’t give up, because you can be successful if you just work through and figure out the problem.
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To start a franchise, you have standard initial costs and further ongoing costs. You need to pay first the set up fee. This is sometimes referred to as the initial franchise fee. This fee covers the costs of the franchisor to help get you started in the business, train you, provide initial marketing material and assist you at launch. This initial fee might also cover the cost of specialist equipment, or if it is an internet franchise, the website.
Often the franchisor will initially allow you to pay a small deposit to secure your territory followed by the final payment once you are ready to sign the franchise agreement. This deposit will count towards your initial fee and will be deducted from it when you finally make the payment for the remainder.
After you have bought the franchise, this is when the other large costs start. Your main costs will be for premises, wages, any equipment you need and stock to get started. If you are setting a retail business, your principal costs will be for rental or purchase of premises followed closely by rates. Your franchisor will often assist you in selecting the ideal premises in which to operate their business.
Staff costs can be very high, or low, depending on which franchise you buy. A fast food franchise like McDonalds needs people on hand to prepare the food, keep premises tidy, serve the customers and maintain the equipment. However, with other franchises you might be able to operate the business yourself. An example of this would be if you bought into an internet franchise where your main purpose is to sell advertising space on your web based business directory.
You might have to outlay a substantial sum of money to buy all the initial equipment you need for the franchise. Often the banks will assist you and allow you to either lease the equipment or provide you with a loan so that you can pay for it over a number of years.
You may find that your stock is sold to you on advantageous payment terms, meaning that some of the burden of holding stock and replenishing it will be taken care of by your customers if it is a cash business. The burden on you increases greatly if you have to offer credit to your customers.
Once your business starts trading then you face ongoing costs like royalty payments. There is no one way to calculate royalties. Some franchisors will charge you a percentage of your turnover ranging from 8% to 15% and demand royalty payments annually. Others might insist that you pay a smaller fixed sum monthly with a final sum due at the end of the year once your accounts are completed.
Finally you might also have to pay a marketing levy or advertising fee. This is to cover the costs of national or local advertising that the franchisor does on your behalf. This is usually calculated as a percentage of your turnover and can be as small as 1% or as large as 5% and anywhere in between.
You should know what all the costs are roughly going to be before you commit fully to any franchise model. Read the small print of the contract so that there are no unpleasant shocks when you start trading. Make sure you take specialist advice so that you fully understand the franchise agreement that you are about to commit to.
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