The Biggest Lies in Forex Trading

What is the Most Profound Statement You Hear When Attending a Forex Seminar or Course or Trading Education.

These are Thing They Keep Repeating Over and Over Again.

1.Never Ever Trade Without a Stop-Loss. You Show Me A Trader Who Trades with a Stop Loss I will Show You a Looser Every Time. I don’t Know of Any Successful Traders Who Trades with a Stop-Loss, Period. Their Never Will be Because Markets are Volatile, they Noisy, they Go Up and Down Up and Down Even Inside a Trend. What’s Even Worse Than a Stop Loss is a Tight Stop Loss, funny isn’t it. Imagine This Someone is On the Other Side of That Transaction, Someone Put This Information Out. Well Here is The Deal They Could Take All of Your Money in One File Swoop, Well You Know They Not Going to Do That Because You Might Just Get Pissed-off. And if You Pissed-off Enough You Might Sue Them and Cause All Kinds of Noise They Don’t Want. So, They Will Take It One Tiny Little Stop-Loss at a Time-One Stop Loss at a Time.
Do You Think if Warren Buffet is Taking a 5Billion Dollar Position in Bank of America, He is Thinking Where Should I Put My Stop-Loss"...NO?
No Successful Trader Uses/ Trades with Stop-Losses, because its More Risky Than The Trade Itself You Might As well Hand Over Your Money-They Will Come and Grab Your Stop Losses. It’s a SCHEME to Take YOUR MONEY. That’s the Way It Works. It Sound So Good Right, They Say, You Don’t Want to Lose Your Whole Account, put a Stop-Loss, You Put a Stop Loss, You Will Lose It One Stop Loss at a Time.

2.The Market is Always Right How is it That for Example Gold was 15 in the Morning Then in the Afternoon 16 and the Next Morning back at 13, when is the Market Right. If it Were Right, There Would be a Fixed Price. There is Just a Bunch of Speculators Looking for a Better Price Then when They First Got in. The Market is Constantly Blindly Looking for Some Price, That’s it. It’s Never Right. And When You Think It Found The Right Price, It will Be Wrong Because it Will Move Again in a Minute or So.

3.History Repeats Itself What a Bunch of CRAP. Like Which History Exactly and How is it Supposed to be Repeating Itself, because last Month the Market Went Up is That What Supposed to be Happening or Because in 1979 February The Market Went Up or Down. What Exactly Do They Mean? And Don’t Also Get Caught Up in This Bull-Shit with The Different Figures in The Market. Like the Double Tops and The Pan and Handle and The Head and Shoulders...What Bunch of BS is that. Seriously it Has Nothing to Do with The Price of Tea in China, Nothing! People Are Trying to Beat the Market and Everybody Thinks They Found the Holy Grail, and They Invent Things, because it Just Happened to Work Out Coincidently a Few Times. How Do You Know a Head and Shoulder is Formed, You Know It with The Benefit of Hindsight, You Know It When It Has Formed, Not Before, After? A Resistance and Resistance Held, sometimes it Holds Sometimes It Doesn’t. How Does the History Repeats itself, You Might As well be Tossing a Coin, Its BS Don’t Believe in Any of That? Because That Only Goes to Prove that One’s a Bad Trader. Some- times it Paints Out, Other Times it Doesn’t and You Only Know After the Fact, How Does it HELP YOU After the Fact. It’s Like Closing the Door on a Barn After the Horse Has Already Ran Away. Traders are Guessing at That Point. Never Guess in Forex. Now I Will Teach You a WAY 70-80% of The Time YOU Will Know Exactly What the Market Will Do Tomorrow. Without GUESSING. Just Pure Mathematical Statistics, Nothing More Than That.
And You Will Learn How to Turn Any Trade into a Winning Trade or Worst Case BreakEven. It Will Not Matter How Bad or Good Your Entry is at The End of The Day or Week or Whatever at The End of The Transaction the Trade will be Profitable.

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