I was Short on the EUR/USD using the Knowledge to Action Forex Sniper Trade and had about 40 pips so I decided to close and collect my “winnings” but when I went to my brokering platform to close the trade the application was locked in what appeared to be a lost connection to the server.
My point is that if you are educated by a reputable Forex educator and stick to their strategies and the rules you have a better chance of making money not losing it. The strategies provided by Knowledge to Action work – they have been back tested and used by 1000′s of people around the world. Stuff goes wrong when you think you know more or try to bend the rules.
Wow – as a Forex newbie the currency pairs seem to be going sideways. I lost on a Cable (GBP/USD) trade going long a few days ago and watched as my stop loss was triggered when the Cable dropped through the floor.
Of course each rule was stated in the Knowledge to Action course but like most males who think they know better than the experts I ignored these rules and decided to take a punt. Always – always I lose money when I do this!!
Jane (The Blonder Trader) highlighted in the email the rules of the Knowledge to Action Forex Sniper strategy which I had not applied that could have saved me from losing money. Some of the rules are so basic I had to reflect on what kind of mindset I was in last night. I can only assume I was too lazy (and cocky) to the research that we are told to do to find the setup for a trade.
I just lost 100 pips overnight on a GBP/USD trade going Long that in fact went south (Short).
Over the last week I have been paper trading using Knowledge to Action’s Income Generator strategy. The market is going sideways so much that I have decided to look at K2A’s “Forex Sniper Trade” which is an intraday strategy as I need to look at other options for trading.