Scceussful Trading With Forexgen

Researched your favorite currency pair, found the perfect setup and executed your trade according to your foreign exchange trading strategy . You know this is one of the best foreign exchange trading strategies you've seen because you've been paper trading and back-testing it for weeks. Now it's time to go live. You're ready to start trading your hard earned cash with this puppy.

You feel confident because you've seen this setup before and know the odds are in your favor. You make your trade and let it go. A few hours later, you get stopped out for a loss. No big deal. You knew the risks. You're a little surprised this trade didn't work out, but you look forward to the next trade. You know losses are a part of this business and part of the overall winning process. Your next trade should make up for this loss.

You're still very confident in your foreign exchange trading strategy so you make your next trade and you rack up another loss. This one made you feel a little worse than last time because you were sure this would be a winning trade. Moving forward, you see another setup and get into a new trade. It's going great and you're moving your stop loss more into profit. You're 20 pips from your ultimate take profit price, but out of nowhere, the Euro zone makes a surprise news announcement that they may cut interest rates earlier than expected. Just like that, your trade moves in the other direction and stops you out for a measly 5 pip gain!