This Former Merrill Lynch Forex Trader Reveals How To Get 4 Additional Winning Trades Per Month

After working on Wall Street as a trader for 23 years, and managing private client accounts for the past 13 years,  I’ve seen a number of miracles.

One of my biggest win’s early in my trading career, was a trade back in 1982. So starting with just a paltry $8,000 to my name, I began buying silver on the futures exchanges.  As it turns out my analysis was spot on, and I ended up running my $8,000 account to a little over $280,000 in only 30 days.

After 120,000 trades, 1,200 trading accounts, and 7 Wall Street Firms – I am going to give you an exact guide to walking away with 4 additional winning trades per month.

Before you read this article you have to agree with the following statements: You won’t find a ‘magic pill’ in the markets – the markets will eat you alive if you do; Forget about making 20%+ per month; You are part of a small group of people who can separate reality from outright dreams and lies.

This article is going to be simple. I am going to show you how to get 4 – yes, just 4 – additional winning trades every month.

Why most people reading this article will NEVER make a single dollar? It is because people are lazy and don’t implement what they learn. There are no guarantees. So read carefully and make sure you examine every word on this page as if your life depends on it. Because it might just change it forever.

1.The last (& only) opportunity for profits in the Forex market. There is this big lie out there that hundreds of thousands of Forex traders believe. “The Forex market is the most liquid market in the world and therefore it cannot be manipulated“. That is plain wrong. You and I are small fish who are competing with much MUCH bigger sharks. Sharks who know the waters better than you do. Merrill Lynch was only one of 8 companies I worked for on Wall Street. There are entire teams who’s job it is to cheat the system. And those are some of the brightest minds in the world from the best universities in the world. You have to stick to simple daily trades that unfold over a period of days, weeks, and sometimes months.

2. How to dominate a currency with profitable trades? That’s a lie. You can never ‘dominate’ a market. That kind of thinking will get your account murdered. However, you can put the odds severely in your favor by doing one thing. All you do is look for a minimum of two chart patterns to “confirm the trade”. You can use a simple “2-pattern overlay” before entering. DON’T jump into the trade just yet – it isn’t that easy. You still have to know when to enter.

3. Use this simple trigger. Most newbies would simply jump into the trade because they saw a “double bottom” or some other pattern. You have to wait for the market to form a coil. It is called an “inside day bar”. So, looking at the daily chart I would wait for this bar to form.

4. Have a tight stop loss and await the coming burst in movement. Not until you understand the true risks involved. Keep the initial stop loss tight, and then keep it loose… The initial stop loss is very tight. I anchor it close to the previous bar. If you’ve established the correct price action and trigger bar, you should see it shoot off in the right direction.

5. Exiting the trade for a fat profit. This is how you get 4 additional winning trades. If you get the coil right. Your trade should shoot out of the block like Usain Bolt. If your stop loss was far away from your initial entry then your risk would be greater and you’ll have to reduce your position size. Therefore, I would recommend a hard and fast 3:1 risk reward ratio. If your stop loss is 35 pips away, your profit target will be 105 pips (three times the stop loss). When I looked back at my last 300 trades, I noticed that if I used THIS exit strategy I would still have made a great return. It is simple and it takes psychology out of the equation.

6. How to ‘never’ lose. I learned this while working at Bridgewater Associates (they manage about $170 billion) from a funny looking Irishman. Back in 2011/2012 I forgot this rule and I duly got slaughtered. There is a story inside of the book ‘Marketing Wizzards’. It talks about a great trader who locks himself in a room with no distractions. No windows. No TV. No Computer. He has his assistant bring him his chart-book without the instruments named. So he doesn’t know if he’s trading pork bellies or gold. All he cares about is the price and the fact that he has no distractions. ‘losing’ is simply part of the process. It is the equivalent of a business expense. You will always lose trades. However, when you lose your mind and you don’t follow your own rules. That’s when you truly lose. As long as you follow the rules… you are winning. When you don’t follow the rules – you are losing (even when you make a profit). It is the only thing that’ll protect you against the sharks.  It’ll put external pressures on you. Don’t even mention a winning trade or a losing trade. Simply tell them you’re winning because you followed the rules.

7. How to make $1m from trading? Do you want to know the real secret? The one that most people ignore, because they don’t really take their trading seriously? Well, it is a system of recording and documenting your trades in detail. 90% of my orders are pending orders, which means they only enter when the market reaches a specific price. By doing this system of recording with your trading you’ll be able to get a lot more focussed. It gives you the breathing room you need to make rational decisions. It helps you to be a winner every time by following the rules. I have taken over 120,000 trades in my life. And the only times when I was consistently profitable was when I kept a journal.

Now you have two choices. You’ve read the entire article.

Choice 1: Forget what I told you and keep doing what everybody else is doing. It is easier to follow the herd after all. Some of the things I talked about aren’t easy. Some of them are plain boring.

Choice 2: This is the choice smart Forex traders go for. You grit your teeth and follow the rules. Be the person that “actually makes money”.

Read more:

• How to make money when the markets are falling
• US debt, Japanese yen and gold could be the 3 best ‘safe havens’
• The efficient market hypothesis – reality or outdated
• Investor Strategy for Gold Trading
• Differences Between Stocks and Bonds