This article is about money management and trading psychology. This is the lesson that you never get with 99% of other Forex systems that you have come across.

I find it interesting that most of the systems out there don’t include this because if they actually were successful traders, they would know that this was the key to success and to leave it out makes an incomplete system that won’t work!! This tells me that the people that wrote them or are selling them aren’t traders at all. They are just in the business of selling HOPE!

Well, if you haven’t noticed yet, I am a trader, and I am different than the others. Don’t get me wrong, there are honest trainers out there, I learned from one and I am eternally grateful to him.

So let’s get on with this. First of all, this is my own interpretation of several sources, and the practices that have worked for me. Please read EVERYTHING you can find on trading psychology, and money management. There are a lot of slightly different views but overall, they are very similar and the main important points are all pretty much the same.

There are two main issues that cause 99% of the problems. Can you guess what they are? If you answered FEAR and GREED, you are correct. These two emotions are probably responsible for 99% of the worlds problems as well but that is beyond the scope of this course.

So, now that we know what the big obstacles are, let’s try and figure out how to overcome them. In the course of my lessons, I have listed a few but I will put them all together here in one place so that it is easier to follow, and perhaps make it easier for you to develop your own system to help you trade better.

We can’t eliminate fear and greed. They will still be there in your heart and mind, but we can make some rules so that they don’t interfere with your trading success. We can come up with systems and procedures to follow, since we KNOW ahead of time that fear and greed are major problems. I’m sure you have heard the statistic that 95% of all speculative leveraged traders FAIL. This is absolutely true. Here is another statistic that I believe…100% of traders that don’t know how to overcome fear and greed will FAIL. So does that mean that if I can teach you how to overcome these problems that your chance of success is 100%? Of course not. But I can tell you that you cannot be successful if you don’t protect yourself from yourself.

In lessons 1-3 I have outlined a trading system. The first thing you must do, whether you follow my system, another system, or your own system is to follow the rules of the system WITHOUT FAIL. If your system calls for a certain entry point, do not enter until there is a signal to enter.

Systems are designed for a reason. That is why it is called a system. What do we learn from this? Patience. Perhaps the stupidest thing you can do is enter a trade on a hunch. This brings us to our first FACT:

The odds are in your favor before you enter a trade. This is true for most trading systems. Void of fear and greed, if you follow each system exactly, you will profit. Some systems may offer better profits than others, but overall you should be able to profit with any system, IF you have no fear and no greed.

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