How many times have you looked at past trades and thought to yourself: “Gosh, how could I have been so stupid?” I know I have… even though it pains me to admit it. Looking back, I can see that many mistakes I’ve made have been because I couldn’t control my emotions. I learned this lesson the hard way… as I know so many other traders have. The trader’s four deadly enemies are: Ignorance, Greed, Fear, and Hope. The Four Riders Of The Trading Apocalypse Let’s start with Greed, not because it’s one of the seven deadly sins, but because it’s…

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Dear MT4 Forex Trader, Do you wish you could be a lazy trader? Meaning, you’d like to make lots of pips without staring at your charts or even looking at them more than a couple times a day…. Is this you? Well you’re not alone…most traders wish this were true for them. I was like that once upon a time, but no longer.  Here’s how and why. I’ve been using various MT4 Trade Managers for several years and I always talk about them on my websites and in my emails. Trade Managers make your trading experience less stressful, and allows…

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How To Trade Red Economic News Events SCALPING A RED NEWS EVENT If I’m scalping to a red news event, I’ll trade in the direction of the Daily trend, using the scalping 3 chart set up.  Using a trade manager is imperative, but the take profit and stop settings need to be wide, like if you were swing trading, because a news event has the potential to move a pair anywhere from 40 pips to hundreds of pips. For news trading, you have to use the Forex Factory Calendar to choose the red economic news events you want to trade. …

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