es in a disciplined fashion, the 3 trades that lost money lost very little. The sole trade that was a winner turned out to be a big winner, as he had allowed the trade to run up in price according to his trading signal generated. That win covered all the remaining 3 losses, and he ended up with a lot more profit as well.

Let us summarise what we have learnt from Mike in his trading the forex market.

Firstly, Mike traded exclusively the 4 major currency pairs, and so he is able to stay focused on these financial instruments and understand their price movement. Secondly, while trading on reduced ris

One way to keep informed with the pulse of the market in between periods that you are not trading is to hear from your trading friends about their trading exploits, the amount of money they earned from their successful trades or listen to their sad tales of woe that came as they lost somewhat in their trades.

But it is as we study into their records, especially the more experienced ones who are consistently profitable, that we can learn how they actually trade.

So it was with a great degree of expectancy when my friend Mike, a forex trader who had begun to trade for about a year, but has consistently made profits from his trades, told me of what he had been trading these few days. Although he had been trading only for about a year, I knew he had not had a losing month, testifying to his consistency as a profitable trader.

These are his "secrets" to his consistency that you might be interested to know of:

1. Trade only the major four currency pairs

Mike revealed that he only trade the four major currency pairs. These are:

EURO/USD,

USD/JPN,

GPB/USD,

USD/CHF

By trading only these 4 currency pairs, he gets very familiar to the movement of these instruments, and can trade with confidence. This allows him to stay focused, and to be able to take a loss when it comes so that he is able to keep his losses small, but let the profitable trades ride out their price movement as they go up in price. By concentrating on just 4 currency pairs, he was able to take action on any potential trading signal. He also traded on a mini forex account.

2. Trade only using one trading system

Mike revealed that he had started off trading two trading systems, but after two weeks of real testing with actual money in the market, he found the trading system that was highly recommended to him to be less profitable compared to a very simple price action method that he had learnt. From that time onwards, he only trade to a system that he has proven to have worked for him, giving him confidence to pull the trigger at the next trading signal. Keeping to just one trading system that has proved to be accurate gave him strength to take the trades and to cut his losses short.

3. Taking all the signals

Mike revealed on that day he had taken all the signals on the four currency pairs. The outcome was that 3 of his 4 trades ended up as losers, but because he had carried out his trades in a disciplined fashion, the 3 trades that lost money lost very little. The sole trade that was a winner turned out to be a big winner, as he had allowed the trade to run up in price according to his trading signal generated. That win covered all the remaining 3 losses, and he ended up with a lot more profit as well.

Let us summarise what we have learnt from Mike in his trading the forex market.

Firstly, Mike traded exclusively the 4 major currency pairs, and so he is able to stay focused on these financial instruments and understand their price movement. Secondly, while trading on reduced risk

tly made profits from his trades, told me of what he had been trading these few days. Although he had been trading only for about a year, I knew he had not had a losing month, testifying to his consistency as a profitable trader.

These are his "secrets" to his consistency that you might be interested to know of:

1. Trade only the major four currency pairs

Mike revealed that he only trade the four major currency pairs. These are:

EURO/USD,

USD/JPN,

GPB/USD,

USD/CHF

By trading only these 4 currency pairs, he gets very familiar to the movement of these instruments, and can trade with confidence. This allows him to stay focused, and to be able to take a loss when it comes so that he is able to keep his losses small, but let the profitable trades ride out their price movement as they go up in price. By concentrating on just 4 currency pairs, he was able to take action on any potential trading signal. He also traded on a mini forex account.

2. Trade only using one trading system

Mike revealed that he had started off trading two trading systems, but after two weeks of real testing with actual money in the market, he found the trading system that was highly recommended to him to be less profitable compared to a very simple price action method that he had learnt. From that time onwards, he only trade to a system that he has proven to have worked for him, giving him confidence to pull the trigger at the next trading signal. Keeping to just one trading system that has proved to be accurate gave him strength to take the trades and to cut his losses short.

3. Taking all the signals

Mike revealed on that day he had taken all the signals on the four currency pairs. The outcome was that 3 of his 4 trades ended up as losers, but because he had carried out his trades in a disciplined fashion, the 3 trades that lost money lost very little. The sole trade that was a winner turned out to be a big winner, as he had allowed the trade to run up in price according to his trading signal generated. That win covered all the remaining 3 losses, and he ended up with a lot more profit as well.

Let us summarise what we have learnt from Mike in his trading the forex market.

Firstly, Mike traded exclusively the 4 major currency pairs, and so he is able to stay focused on these financial instruments and understand their price movement. Secondly, while trading on reduced ris

and can trade with confidence. This allows him to stay focused, and to be able to take a loss when it comes so that he is able to keep his losses small, but let the profitable trades ride out their price movement as they go up in price. By concentrating on just 4 currency pairs, he was able to take action on any potential trading signal. He also traded on a mini forex account.

2. Trade only using one trading system

Mike revealed that he had started off trading two trading systems, but after two weeks of real testing with actual money in the market, he found the trading system that was highly recommended to him to be less profitable compared to a very simple price action method that he had learnt. From that time onwards, he only trade to a system that he has proven to have worked for him, giving him confidence to pull the trigger at the next trading signal. Keeping to just one trading system that has proved to be accurate gave him strength to take the trades and to cut his losses short.

3. Taking all the signals

Mike revealed on that day he had taken all the signals on the four currency pairs. The outcome was that 3 of his 4 trades ended up as losers, but because he had carried out his trades in a disciplined fashion, the 3 trades that lost money lost very little. The sole trade that was a winner turned out to be a big winner, as he had allowed the trade to run up in price according to his trading signal generated. That win covered all the remaining 3 losses, and he ended up with a lot more profit as well.

Let us summarise what we have learnt from Mike in his trading the forex market.

Firstly, Mike traded exclusively the 4 major currency pairs, and so he is able to stay focused on these financial instruments and understand their price movement. Secondly, while trading on reduced ris

mended to him to be less profitable compared to a very simple price action method that he had learnt. From that time onwards, he only trade to a system that he has proven to have worked for him, giving him confidence to pull the trigger at the next trading signal. Keeping to just one trading system that has proved to be accurate gave him strength to take the trades and to cut his losses short.

3. Taking all the signals

Mike revealed on that day he had taken all the signals on the four currency pairs. The outcome was that 3 of his 4 trades ended up as losers, but because he had carried out his trades in a disciplined fashion, the 3 trades that lost money lost very little. The sole trade that was a winner turned out to be a big winner, as he had allowed the trade to run up in price according to his trading signal generated. That win covered all the remaining 3 losses, and he ended up with a lot more profit as well.

Let us summarise what we have learnt from Mike in his trading the forex market.

Firstly, Mike traded exclusively the 4 major currency pairs, and so he is able to stay focused on these financial instruments and understand their price movement. Secondly, while trading on reduced ris

es in a disciplined fashion, the 3 trades that lost money lost very little. The sole trade that was a winner turned out to be a big winner, as he had allowed the trade to run up in price according to his trading signal generated. That win covered all the remaining 3 losses, and he ended up with a lot more profit as well.

Let us summarise what we have learnt from Mike in his trading the forex market.

Firstly, Mike traded exclusively the 4 major currency pairs, and so he is able to stay focused on these financial instruments and understand their price movement. Secondly, while trading on reduced risk with a mini forex account, Mike only uses a trading system that has been proven to be profitable to him. By doing so, he is able to maintain a sense of discipline in his trading. Finally, Mike take all the computed trading signals, but always taking quick action in response to signals generated. This normally allows him to come out a winner despite having losses in some other trades because he always cut his losses fast.