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 1)  Read This First

 

 2)  Why SO IMPORTANT To Keep A Trading Journal ?

 

 3)  Why Are You Always Late & Wrong With Trend ?

      

 4)  When You STRUGGLE when Account Is Small ?

     

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Here’s How You Can Exit With Profits Confidently Every Time Trading Forex

Ever since I started sharing tips and forex trading strategies through this blog…

Many fellow readers wrote in to me with ” all sorts ” of  questions imaginable..

Some questions are coming from their frustrations and problems they encounter during trading..

….While some are ” just for laugh ” I think…

It is not stupid….but I would call it ” unique ” perhaps..

One such ” unique ” question” I often receive is this :

….Hey Aaron….can you tell me how can I earn my first  million too without having to trade it myself ?

Can you do it on my behalf..? ( but I do not have 10k to start  off with to be frank )

Now you know why I consider this kind of question ” unique “..?

* smile….*  ( and I am receiving them VERY often!)

OK..so much for that…

Let’s go into the main objective for this post :

” ..How You can exit with profits CONFIDENTLY every time…! “

Here’s the exact question from one of my reader …

——————————————————————————————————————-

QUESTIONS :

——————————————————————————————————————-

…. Aaron, I have been trying to figure out this forex trading thingy for sometime now but with NOT much success so far.

I have a question that I hope you can help me with because this is one problem that is kind of giving me terrible frustrations all these while since I started trading 8 months ago.

How can I exit the market with profits at least 7 out of 10 times everytime I trade ?

I am really sick of seeing winning trades ( sometimes with more than 100+ pips profits ) turning into a losing one because I am not setting an appropriate TP ( take-profits ) point..

Is there anyway I can plan a profit target without having to sit ” glue ” to my pc and watch or use any complicated indicators at all ..?

Hope you can help me on this…thanks.

– Kelvin ( via email )

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My Solution To This Problem :

——————————————————————————————————————–

Kelvin….thanks for contacting me with your problem.

The problem you are struggling with… can be considered one of the most ” Common” … forex traders are experiencing in fact..

This applies to both newbies and struggling intermediate traders..

I ( for once ) also used to seeing ” Winning trades turning into losing ones..”

And I must admit that it is really disappointing to see that happen again…..and again !

Especially those valuable Pips and Profits DOWN THE DRAIN !

Believe it ornot….the solution to this problem is in fact very simple.

——————————————————————————————————————–

** Here’s a really simple way to overcome this problem :

——————————————————————————————————————–

If you don’t know yet…

For every currency pair….there’s an ” Average Daily Range “..

Let me use the USD/JPY as an example to help you understand on this here..

For USD/JPY…the ” Average Daily Range ” is about 100 Pips..

So upon knowing this….

Everytime I decide to enter a trade for this pair…

I will ONLY aim for about 50-60 Pips for profit target…

…and the Stop-Loss is normally about 25 – 30 Pips in order to achieve a good ” Reward/Risk” ratio.

Aiming 50-60 Pips for a currency pair with average daily range of 100 Pips is really very realistic and achievable 7 out of 10 times…..most of the time.

** So the main question you might be asking is :

” So how do You determine the so called ” Average Daily Range ” of a particular currency pair ? “

It is indeed VERY Simple…

The ” Average Daily Range ” of a currency pair can be determined when the market is in a RANGE…

Or rather known as a ” Sideway ” market..

The number of pips between the High and Low in the sideway market is the reasonable ” Daily Average Range ” You can use …. * smile *

Or…You can also use an indicator called the ” ATR ” ( available in MT4 platforms and most major ones ) to help you confirm on this range …

Don’t believe it is that simple..?

Open up the chart and try it out now !
So having found out ….

Just aim for 50-60% of the daily pips range…

This should solve your problem and make you a much confident ( and happy ) trader in no time ..

Ok …..maybe at this point of time….

If you’re thinking about this :

” But Aaron….if I only aim for 50-60% of the daily pips range…then wouldn’t I be leaving alot of Pips and Profits on the table if there is a STRONG trend..? ”

——————————————————————————————————————–

My Answer For This Question Again :

——————————————————————————————————————–

Of course You would be leaving alot of Pips and Profits on the table….IF…

Yes….” IF ” You do not enter again when there’s a good set-up during the strong trend.

During a strong trend…there are bound to have good opportunities to ” re-enter ” again to ride on the trend definitely…

At least when You already ” LOCK IN 50-60% ” of the profits earlier….that is more important.

Having profits in your account is a good feeling to have right ? * smile *

However…in order to ” re-enter ” again into any trend to continue riding the trend…

You cannot rely on the so called ” textbook technical indicators” at all….because there are simply too lagging and inaccurate..

You will only end up getting anguish and not knowing what signal to believe anymore…

That is the reason why I always ONLY endorse on ” Price Action ” strategies..

Because Price Action is more powerful and accurate..

And when You can read Price Action as accurate like I do..

You can also enter into a trend much more earlier and ” exit ” with more profits too…

Remember …

When you’re trading like 95% of the losing traders..

You will end up getting frustrated and struggling to break even too….every single month.

But when You also know the ” Simple ” way to read the Price from the forex market…

You are already far far ahead of most ( confusing) traders who are still waiting for their textbook technical indicators to tell them ” when ” to enter…

Whereas YOU…..would literally be riding on the trend and capturing those Pips by then..

Alright….so much for this question by kelvin..

I hope you have benefited from this question posted by him too..

If you’re keen on learning proven forex systems based on price actions strategies to supercharge your trading success..

Feel free to read about the Top 3 Forex Resources Review we did here :

=> http://www.forextradingempire.com/Top3ForexReview/

To Your FOREX Success,

Aaron Tan ( your trading friend )

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