By Joseph Wohlers © June 2013

www.meangreenmoneymachine.com www.myforexsecret.net

www.tradingforexgonewild.com

Any unauthorized reproduction of this PDF file is prohibited and punishable

by copyright laws.

Forex Currency Trading disclaimer: The methods and strategies taught in this
book are not a guarantee of profits and trading in any currency market
involves a high degree of risk regarding the potential loss of any or all of the
capital funds you invest, especially if you are not exercising appropriate risk
management techniques with each and every trade, such as stop loss orders in
particular. As with any business venture, the risk of losing capital is always an
inherent factor!

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TABLE OF CONTENTS:

Chapter 1

TAKING BOLLINGER BAND TRADING TO THE NEXT LEVEL

Chapter 2

THE BASICS OF MY BOLLINGER BAND TRADING METHOD

Chapter 3

EXAMPLES OF GREAT TRADE SET UPS USING BOLLINGER BAND

THEORY

Chapter 4

SETTING UP YOUR MOBILE APP TO DUPLICATE BOLLINGER BAND

TEMPLATE

Chapter 5

TRADING PSYCHOLOGY NEEDED TO ATTAIN PRACTICAL

TRADING GOALS

For my instructional Bollinger Band Training video, check out this link from
time to time to keep up to date with my latest videos:

http://www.youtube.com/watch?v=IEjfHIoYVm8

2
Chapter ONE

TAKING BOLLINGER BAND TRADING TO THE NEXT LEVEL

In my first book, “Scalping Forex with Bollinger Bands & Maximizing

Profits”, I demonstrated how I use the 21 MA and associated Bollinger Bands
as good entry and exit points for scalping the market. If you follow the 21
MA, there are about 5 possible trading scenarios that I outline in the book,
and then in more detail, I explain how to scalp the market using that
knowledge. This new book, “Scalping Forex with Bollinger Bands: Trading it
to the Next Level” is an important extension of that methodology. In this
new book, I further expand those trading scenarios and show you how to
overlay the 21 MA Bollinger Bands over a 100 MA Bollinger Band
background. The resulting template will show you even more ever changing
support and resistance points, more in tune with actual market price action,
and I totally believe more important support and resistance points than
Fibonacci methods or even Pivot Point theory could predict. As I have
evolved as a better trader, I have based my trades on even more price action
and fewer indicators, and this book will teach you how to benefit from my
successful evolution to a better, professional Forex trader. My current trading
stats, utilizing this Bollinger Band trading technique, has delivered me a 75%
winning rate and has minimized my risk substantially, so whenever I have a
few losing trades, getting back into profit is very attainable. In fact, the most
consecutive losses were 3 in a row, compared to my most consecutive wins,
which numbered 6 in a row. This book explains how to gain consistent
profits from my most successful trading style to date and I’m totally amazed
how this method has taken my trading to the next level! Read this book and
prepare yourself to learn how to take your trading to the next level! Included
in this book is the web link to my personal MT4 template and download
instructions you will need to better identify profitable opportunities.

I believe the essence of good trading is finding great entry points. A great
entry point could be defined as a price where there is huge potential for actual
price support or resistance. If you could pick these points accurately, your
stop loss orders would be a reasonably small pip difference from your entry
order. Once you’ve accomplished that feat, then picking a take profit order
would be more easily attainable and more profit potential would result. So,
by choosing the better entry orders, you are automatically increasing your

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profit potential and with smaller stops, you have a more significant Reward to
Risk ratio. If you didn’t know already, choosing the better entry orders, will
ultimately determine how fat your wallet becomes!

Let me give you my personal MT4 template, “tittnl.100.21.bb.tpl” complete

with my specific settings, that I use to find the better entry and exit points.
First, you will have to have Metatrader 4, which you can download it here, if
you don’t already have it.

Second, you will have to download my personal Metatrader 4 template,

“tittnl.100.21.bb.tpl”. You can download my “tittnl.100.21.bb.tpl” personal
template by clicking Here. Save it to your desktop for now.

Now you will proceed to drop and drag this template into your Metatrader 4
program folder labeled TEMPLATES. To do this, you will have to go to your
C: drive under MY COMPUTER and then click on Program Files and find
your Metatrader 4 program folder and double click it to open it. Now, just
drop and drag this template file saved from your Desktop into your
Metatrader 4 program subfolder labeled TEMPLATES.

The next step is to download my NonLagAMA_v2.ex4 indicator file and my

Macd Color Alert file and save these two files to your Desktop. Just click on
the download links below, and download both these files and save to your
desktop for now.

NonLagAMA_v2.ex4

Macd Color Alert.ex4

To install these files properly, first open the METATRADER 4 program

folder again found on your C: drive and then open up the EXPERTS folder.
Inside the EXPERTS folder you will find the INDICATORS folder. Now
double click on the INDICATORS folder and just drop and drag both the
NO LAG AMA indicator file and the macd color alert file from your desktop
into the INDICATORS folder already opened. If your Metatrader 4 was
open, please close and reopen Metatrader 4 and pull up a one hour chart of
the Eur/Usd, and right click on the chart and choose “Template” and then

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click on “tittnl.100.21.bb.tpl” and the chart should show all the technical
indicators I use.

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Chapter TWO

THE BASICS OF MY BOLLINGER BAND TRADING METHOD

In my first book on Bollinger Band trading, I explained how I use the 1st
Deviation Bands of the 21MA. No matter what time frame you are trading,
the secret is to get a candle stick close on the inside of the 1st Deviation
Bands, which I refer to as the trading range of the respective upper and lower
bands. The theory is, if you get a close on the inside of these 1st Deviation
Bands, you have a good entry point, because with a confirmed close inside the
trading range, the tendency for price action is to gravitate to the 21MA. If
and when momentum builds, a stronger piercing of the 21MA will suggest
that price will further gravitate to the opposite side of the 1st Deviation Band
trading range and possibly beyond. Conventional wisdom would say to enter
markets with close on the inside of the 2nd Deviation Bands, which often
times results in a false entry and the market price action will stop you out.
Simply stated, it is better to wait for close on the inside of the 1st Deviation
Bands for a higher probable chance of follow thru at least to 21MA.

What I want you draw from this Bollinger Band landscape and different
Deviation Bands is you are painting a picture of support and resistance points,
represented by the BB MA and also the various upper and lower band levels.
This theory is much like that of Pivot Points, only probably more accurate
pivotal price points with ever changing support and resistance levels. This
trading theory suggests trying to capture the pips as the market price action
moves from one level to the next, hence the title of the book, “Trading to the
next level!”

Now, in my first book on Bollinger Band scalping, I talk only about the 21
MA and associated BB deviation levels. In this new book, I add a few
interesting parameters to sweeten the pot sort to speak! I add a 100 MA and
associated BB deviation levels. Now when the 21 MA crosses the 100 MA,
direction can be seen on the chart, and now we have new longer term price
potential levels determined by also the 100 MA and associated Bollinger Band
deviation levels. Just for kicks I’ve added a 200 MA to add another
dimension and potential major support and resistance level. It’s not rocket
science, but you would be surprised how easy it is to look at the market price
action thru these new Bollinger Bands and prominent moving averages and

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find trades based on pure price action alone. I’ve also added a NON LAG
AMA trend indicator as a confirmation of entering trades in the correct
direction. Lastly, I rely on my MACD indicator to also confirm price
direction reversals, and also confirm what I call the potential market
momentum “rubber band” effect, as measured by the length of the histogram
lines on the MACD. Simply stated, longer histogram lines will increase the
potential market momentum that fuels the price action of a true price
reversal. Below is how the template displays once you load it on your 4 hour
chart. For demonstration purposes, I’ve left out the Non Lag AMA trend
indicator, so it is easier to get acquainted with the 100 MA Bollinger Band
landscape.

Example of my 21 MA Bollinger Band template with Upper and Lower 1st

Deviation Bands, overlaid on a 100 MA Bollinger Band landscape...

Important to note, generally, I will rely on the slope of the 21 MA of the 4

hour chart, to determine the current dominant trade direction and then will
look for those trading opportunities in that same direction on the 30 minute
chart, to fine tune my entry order. Likewise, if I were trading the 1 hour

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charts, I would look for opportunities to enter the market on the 15 minute
charts. In other words, as a good rule of thumb, always find the dominant
market direction (slope of 21 MA) on that of a chart with two periods higher
than the time frame you would most feel comfortable trading on.

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Chapter THREE

EXAMPLES OF GREAT TRADE SET UPS USING BOLLINGER BAND

THEORY

The best way to spot great trade set ups is to simply throw some great
examples in front of you and allow you to dig in, and start to digest what I’m
trying to convey as the better trade entries. As with anything in life, the more
you experience something, the easier it is to understand, and know what to do
and when to do it. Certain Bollinger Band patterns become easy visual cues
to buy or sell. These trigger signals are demonstrated in the following
examples. The first set of nine trades are when markets is starting to roll over
from the Upper 2nd Deviation 100 MA thru the upper 1st Deviation 100
MA, and finally to the 100 MA and beyond. The second set of five trades is
going from the bottom of the Lower 2nd Deviation 100 MA to the Lower 1st
Deviation 100 MA and finally to the 100 MA and beyond.

In the first book I showed looking for easy scalps, and in this book, I’m
showing you the better set ups needed to trade the larger time frames like the
four hour and higher charts, because these signals are needed as precursors to
qualify a set up for the actual trigger entry signals. You will probably wait
longer to find these set ups, and will have to have wider stops, but you will
also increase your reward potential. All right, let’s study some chart examples
and become acquainted with these low risk, high reward setups!

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The above 4 hour chart shows 14 trades took over a period of six weeks (35
daily trading sessions, which includes Sundays shorten sessions), with a
combined total profit of 1480 pips. I want to illustrate the reason you want to
trade higher time frames – its well worth the greater reward potential. In this
example, you would have averaged 246 pips a week, and that’s more than
enough for me!

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The above chart shows the price action rolling over to the downside finally
after a huge run up. See how the price finally rolls under the Upper 2nd
Deviation 100 MA BB, and a first trade is taken. The price continues to fall
to the next level, that of the Upper 1st Deviation 100 MA BB, and then to
the 100 MA itself, continuing to the lower 1st and 2nd Deviations. Below is a
chart of the first 4 trades.

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The reason for Trade #1 was simple – price finally closed beneath the Upper
2nd Deviation 100 MA BB and also inside the 1st deviation band of the
21MA. Once in the trade, notice how the MACD green signal line crossed
the red line. Notice how the histogram bars were getting smaller and then
dipped below the zero reference line. Staying much longer in the trade would
probably not be prudent, so closing out the trade at the lower 1st deviation
band was a smart move for profit of 170 pips.

Going long would probably dangerous at this point, because the market went
a long way downward rather fast, signaling a potential major market reversal
of trend, also confirmed with price being below the 21MA. Even though a
mildly risky trade could have been taken to the upside and the actual outcome
would have yielded a high reward, it was best to stand on the sidelines and
wait for the next SELLING opportunity.

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The 2nd trade was a sell entry once again with a close inside the 1st deviation
band of the 21MA. Now, because the market reached new highs, would be
prudent to set target for 21MA for a profit of 60 pips, and then see how the
market behaves. The target was hit and now we wait and see what price
action develops. Observing how the market was developing a trading range at
these higher levels, putting a SELL stop 10 pips below the support of these
levels would be your best bet if the market is to play out this major reversal to
the downside, already in progress. And sure enough the sell stop triggered the
3rd trade and rode it to a target of the lower 1st deviation band of the 21MA
for a 70 pip profit. Then, once again, wait and see if the downtrend should
continue, and put a SELL stop just below the white 4hr candlestick, because if
this area of support is taken out, along with the 21MA Bollinger bands
sloping downward, the chances of this going to new lows was high, and once
again, stop was triggered to place the 4th trade and waited for previous lows to
be taken out and made another 70 pips.

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Here are the next 4 trades…

The reasoning behind taking trade # 5 was simple – the market was probably
due for a rebound to the upper 1st deviation band of the 100 MA, so why not
put in a BUY stop 10 pips above these current highs. The stop was triggered
and the 21MA was a reasonable target and was hit for a 100 pip profit. Being
the price continued to stay above the 21MA, then the smarter, wiser move,
would be a BUY stop 10 pips above recent highs and a target of the upper 1st
deviation band of the 21MA, which was hit for a 50 pip target.

Now, the best trade to take is once again, to stand on the sidelines, which are
always a ZERO LOSS trade! Patience paid off, so finally a SELL stop was
placed 10 pips below the upper 1st deviation band of the 100MA, which was
triggered and a target set of 21MA. Again, target was hit for a profit of 90
pips and now we wait till a 4hr candlestick closes below the 21MA to go short
again.

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About a day and a half later, the price did close below the 21MA, and the 8th
trade was initiated and the target very logically would be the greater area of
support marked on the chart, and target hit for a profit of 140 pips.

Here is the last trade taken in this series. Please refer to chart below…

This last trade to reach new lows was either gonna happen or not. So, why
not put a sell stop in and play it smart. After waiting 3 daily trading sessions,
the price did retrace back to 100MA and beyond, but could never take out the
upper 1st deviation band of the 100MA, so chances are a close below the
100MA would be a good entry, but a safer entry would be a SELL stop 10 pips
below most recent daily low and if hit a target of the lower 2nd deviation
band of the 100MA. It played out for a total profit of 160 pips.

So, if you look back at the trades, we played the price moves from the upper
2nd deviation band of the 100MA to the lower 2nd deviation band of the
100MA and hopefully you see how you could make logical decisions about
following the price action. Now, you could of simply, bought and sold

15
according to the changes of the NON LAG AMA indicator and done ok, or
you could of played the MACD signal crosses and done about just as good,
but the difference incorporating the 100MA Bollinger band overlay (which
include 1st and 2nd 100MA Bollinger bands) on the 21MA 1st deviation
Bollinger bands is that you getting a better perspective of the bigger long term
trade opportunities, and by playing these moves, always trading it to next
level, you gain a lot of pips, yet still you remain taking conservative plays when
following a 4 hour chart.

Put it this way, using this Bollinger band methodology will more naturally
increase the number of pips you profit per trade. I tend to think of it this
way --- if God were a trader, would he mess around with 10 – 15 pip profit
targets or would he step back in His universe and look at the big picture, and
pick the bigger potential moves, using his Godly wisdom. Well, I’m sure you
all know God is no dummy, so why should we limit ourselves and be scared of
markets when the 100MA Bollinger landscape is showing us so much more
potential in higher profits! I have found that tracking the market price
trading it to the next level on a 4 hour chart is like being a conservative,
greedy trader --- it’s truly a case of when greed is good, like cutting your losses
small and letting your profits run!

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Now it’s time to wait till the market gets to the other side of the Lower 2nd
Deviation 100 MA BB and time to make some money on a retrace.

Below is a chart of the next 5 trades going from the lower 2nd deviation of
the 100MA band thru the 100 MA itself, and upward toward the upper 2nd
Deviation of the 100MA.

The 1st trade was easy to play smart… wait for a violent breakout to the
upside.

Let me show you a close up of the next two trades in this series of examples…

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The 1st trade was a buy stop and the second was a buy limit. Let me explain.

Notice the price action once it fell below the lower 2nd deviation band. Do
you see how price starts to consolidate, and actually starts forming a triangle
and how the trading range starts to gradually become narrower? Naturally,
this type of formation will have to break one way or another. After such a
huge downtrend, the chance of a semi major retrace is high, so probably wise
to start looking to enter long the market. A BUY stop was placed 10 pips
above the most recent 4hr highs, and if this retrace is for real a price move to
the 21MA is most easily attained and still a goo 80 pip profit potential. The
stop was triggered and 80 pips profit was realized.

After waiting a few 4 hr bars, again the market, as expected consolidates and
we start to see higher lows, so going long again one more time would be wise.
The next level as you can guess is the upper 1st deviation 21MA band. This
time, being the channel is clearly forming, why not put a LIMIT order to BUY
just slightly above the support level of this channel. Sure enough, LIMIT
order hit and 2nd trade in this upward trend is initiated. The target was hit
for 100 pips profit.

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Here are the final three trades…

After several trading days and staying out of market, the market develops
another trading channel, so a BUY stop 10 pips above the high is placed,
which triggered the 3rd Trade and the next logical level to reach would be the
upper 1st deviation band of the 100MA, which is breached and profit of 230
pips is made.

Now, that we are trading wisely and have accumulated great profits, again we
stand aside to watch how the 21MA Bollinger bands behave and what price
action tells us about potentially good trades. After 2 and half days, the price
closes inside the upper 1st deviation bands and the 4th trade is initiated, and
sell position puts us back in the game. As you might guess, the next smart
level we are heading to will be the 21MA, and the target is hit for 100 pips of
profit.

Again, as we patiently wait, we see consolidating price action in the works,

and the 21MA Bollinger bands are holding price level to about the upper 1st
deviation band of the 100MA, which tells us with a lower 21MA band curving
upward, if the price again closes above the upper 1st deviation band of the
100MA, the tendency would be for price to gravitate to at least to the upper
21MA band. So, price does close above 1st deviation band of the 100MA,

19
and the 5th trade is taken, going long, and the target of the upper 21MA is
reached for 70 pips of profit.

These last 35 trading sessions, over a period of six weeks, have yielded 1480 in
pips. So now we wait again till we see what the bands are telling us… and sure
enough the narrow bands start pointing downward again. At this point I
would have put a SELL stop 10 pips below the 200MA and if hit would have
taken profit at the 100MA. Are you starting to see how the Bollinger bands
actually point you where the market is going? By using stops especially you
can avoid bad trades and when stops are triggered, you usually have higher
momentum price action happening simultaneously, making more successful
trading profits possible.

*** Warning: Never place a stop order or have a pending stop order,
intended to initiate a trade, either long or short, over a weekend after
FRIDAY CLOSE --- the danger is that if there is a gap opening the order
would be filled at a ridiculous price, and you could incur huge losses! ***

The reason is that I have not talked much about the Non Lag AMA trend
indicator and the MACD indicator is simply because I want you to look at
primarily price action. If you are at the point in your Forex learning journey
that you understand Bollinger Bands well and how trades develop from one
level to the next, especially on a multi 21MA, 100MA background, you really
don’t need indicators. So, that’s why I haven’t talked about their importance
yet. I want you to focus on the task at hand, which is fully understanding the
importance of what Bollinger bands are telling you. It is much more of an art
than a science, and it may takes years to get a better feel of the market price
action, but if you study charts long enough, and yet keep it simple, a simple
set of Bollinger bands will tell you to a strong degree, whether taking on a new
trade is smart --- if the chart does not clearly say, “Go for it, the probability of
price going to the next level is relatively high”, you simply stand aside, which
as you may have learned already that no position in the market is a position in
the market that never loses you a dime. Even when Bollinger bands are saying
nothing to you, they are boldly telling you, “Hey fool, you better wait till price
action gives you a buy or sell sign” and a buy or sell stop may be your best
market strategy. It is also in these points of market price action indecisiveness
that the Non Lag AMA trend indicator and the MACD help you confirm if
this could be a smart trade to take or not!

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The way I like to use the Non Lag AMA trend indicator is to wait till the
indicator has turned color, indicating a potential market reversal in progress.
When the color changes on the next candlestick of a 30 min chart, is the first
clue of whether I should take a trade or not. If the 21MA on the hour chart
is also sloping in the same direction of the color of the Non Lag AMA, there
is a higher probability of taking that trade, especially if it agrees with the
dominant trend of the 21MA of the 4 hr chart. Also, if the Red line has
crossed the Green line on the MACD is another reason to confirm taking
that trade. You see, I don’t rely totally on the Non Lag AMA or the MACD,
but they are merely confirmations of a great trade, especially if the price closes
inside a new price level of the Bollinger Bands. Please note if the price closes
inside the 21MA 1st deviation bands at the end of a candlestick and that price
is also at or about the 100MA or one of it’s deviation bands, there is a higher
chance of better support or resistance at those points as well.

The 200MA is also a critical MA as well, so for example, if a market if trading

above 200MA for quite sometime and price close below the 200MA that is
significant usually meaning change of price direction in progress. That is why
I like trading with my Bollinger Band method, for with simple 21, 100, and
200MA’s and Bollinger bands of the 21 and 100MA’s you can tell quite a bit
about where market direction is heading!

For my instructional Bollinger Band Training video, check out this link from
time to time to keep up to date with my latest videos:

http://www.youtube.com/watch?v=IEjfHIoYVm8

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Chapter FOUR

SETTING UP YOUR MOBILE APP TO DUPLICATE BOLLINGER BAND

TEMPLATE

Download for free the MetaTrader 5 for Android by clicking on this link or
you can go this web address from your mobile device, http://googleplay.com
and then search Metatrader and you can install either 4 or 5 version. I use
Metatrader 5 just to have the most current updated version.

The only drawback to using Metatrader on your mobile device is the lack of
the function where you can add custom indicators like the Non Lag AMA
trend indicator. I have gone around this by using a replacement trend
indicator that comes with the mobile Metatrader version called the SAR
Parabolic. It does come in handy confirming a good trade entry, but tends to
be a little lagging and so I don’t rely on it totally to be the best confirmation
of a good trade entry, but in a trending market, the timing is pretty good for
getting into markets that are definitely trending, while don’t even pay
attention to this indicator when market price action consolidates or goes
sideways.

I want you to have the same settings I use. Below is a list of the two indicator
windows and the settings you will need to duplicate my setup. Just add the
indicators first, then go back and edit each individual indicator to the specific
preferences I list. Just add each new indicator in sequential order below.

Main chart

Bollinger Bands

Period 21, Deviation: 1.000, Shift: 0, Apply to close, Style Orange

Bollinger Bands

Period: 100, Deviation: 2.000, Shift: 0, Apply to Close, Style Blue

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Bollinger Bands

Period: 100, Deviation: 1.000, Shift: 0, Apply to Close, Style Light Blue

Moving Average

Period: 21, Shift: 0, Method: Simple, Apply to Close, Style Purple

Moving Average

Period: 200, Shift: 0, Method: Simple, Apply to Close, Style Red

Parabolic SAR

Step: 0.016, Maximum: 0.2, Style Maroon

Indicator window 1

MACD

Fast EMA: 7, Slow EMA: 13, MACD SMA: 4, Apply to Close,

Styles: Main=Blue, Signal=Red

If you look on www.YouTube.com you can search for Android applications of

Metatrader and search for HOW TO USE METATRADER ANDROID, and
you will find good instructional videos. Here is a video I found that does a
good job of explaining how to use the various functions on a mobile device to
get you started:

http://www.youtube.com/watch?v=YVvpgQNLCVc

When I first started mobile trading I went to You Tube and found a number
of different videos that got me going and helped me set up my mobile trading
platform --- it’s really pretty simple, just takes some getting acquainted with,
which makes for trial and error, but I was surprised how fast I was up to
speed, and now actually I like executing orders on my phone and find

23
checking the phone every 30 minutes or so, to determine if I should buy, sell
or stand aside. Sometimes I will put in limit orders to get a better price in
trending markets or swing trading, and that really helps me make more profit
in the end. Give it a try --- mobile trading really is worth the effort, because it
allows you find buy and sell signals 24hrs a day rather easily and effortlessly if
you trade the hour and 30 minute charts.

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Chapter FIVE

TRADING PSYCHOLOGY NEEDED TO ATTAIN PRACTICAL

TRADING GOALS

In the first book about my Bollinger Band trading method, I told you about
my personal trading psychology I utilize to help me. To summarize briefly, I
prefer to trade while I’m still hungry and eager to do my best and have not
allowed myself to become too complacent. I simply will psych myself up
before entering any trade, and imagine that I just had 6 trades in a row that
were losers and now, this next trade has to become a winner. I seem to make
better new decisions under pressure, when my hard earned money is on the
line!

As soon as I hit a new high in my trading capital, I program myself to become

needy and respond to market conditions as if I can’t afford to lose again. This
keeps me hungry, alert, and on my best behavior, when it comes to pulling the
trigger on the next market entry. Laugh if you want to, but this works for
me. Remember, making money in the Forex is really a roller coaster ride. So,
anything that stabilizes your mindset, will keep you on an even keel --- not too
brave and not too scared, but ready to pull the trigger with confidence on
taking those better entries! Hey, too much pride in thinking you are getting
to be a real trading force to be reckoned with, will certainly humble your wise
butthead very soon!

The bible says those who humble themselves will be exalted, but those who
exalt themselves will be humbled. That simple logic ingrained in your
trading psych will set you apart from the amateur fools. I should know,
because I was a fool for many years, till I learned how to control my
overconfidence, which will happen to the best of us --- be careful, but not so
careful you don’t pull the trigger and miss the high potential trade
opportunities when you see it developing.

This book shows you more than good trade setups, but shows you how and
why they develop. There always has to be a reason you take a trade, and that
reason should be good enough to stay the course through out the entirety of
that trade till your take profit order is reached. The more money on the line,
the easier it can be to doubt yourself, so that is why you must develop a habit

25
to only enter the better set ups and see them thru. That line of thinking will
go far, especially as your account grows, and you still hold the same good
trading morals near and dear to your heart as you did when you only had
200.00 in your account. Trading is about disciplined principles you live by,
day in and day out!

The two greatest temptations that seem to come around often in the trading
realm are to move a stop order wider than it is, or adding to a position when
you are losing money to get a better average price. First, very simply, NEVER
MOVE A STOP to put more risk higher potential loss, and second, NEVER
ADD TO A LOSING POSITION.

The two greatest temptations that come up in a successful trade are taking
profits early, and moving a stop to break even, once a trade is going in the
right direction. Let me say, no one has ever lost money taking profits early,
but don’t cheat your self either --- I tend to take profits early for two reasons.
Reason number one to take profits early would be if the market went
extremely fast in your direction on just borderline good news --- those trades
almost always fade and lose their steam, so taking what lucky profit you
earned fast, I wouldn’t hesitate to bank profits to play it safe. Also, the
second reason to take profits early would be if I’m only a few points away
from target, I will take the profit I got, and lose a few potential bucks to play it
safe.

The most dangerous aspect of becoming a professional trader is thinking you

are right in all situations, and quite simply, if only to humble the best of my
aspiring trading gurus, if you are right 70 percent of the time, that’s about the
best anyone can do. You will have to learn to stick with the good trades you
picked and let your profits run, and remember to instinctively cut your losses
quick! I recently had a run of consistent profits over 6 months and increased
my account size by 422 percent, and yet my winning percentage was 75
percent, which is 3 out of 4 winners. You see, the market allows you to lose,
but you should never all yourself to let emotions increase your losses. I totally
attribute my greater success as of late due to my mindset being more
concerned how much I lose, and then, a new normal becomes reality and
winning happened more frequently without thinking about it. I totally
believe that being concerned more so about how much can I lose type
mentality, you will instinctively and intuitively be looking for low risk, high

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reward trading opportunities. No matter how good your trading becomes,
please be very aware --- GREED kills, because markets always pull back at some
point, so get out before the greed is quickly overcome with fear!

Warren Buffet couldn’t trade currencies but he offers some of the soundest
advice to traders of all spectrums: “Be greedy when others are needy, and be
needy when others are greedy!” This is another major realization I’ve
incorporated in my trading psychic to empower me and protect me!

If you keep asking questions about what you don’t understand, you will keep
learning what you need to become a pro trader. I honestly believe if your not
continuously challenging your self with new ponderings or inquisitions, YOU
will stop learning and that’s why a lot of trader’s give up. For any experienced
trader that has ever made a living from trading, you can count on at least 10
years of understanding markets and surviving to learn your game --- it’s not
like any other game, but it’s worth the challenge, for there is no greater
builder of wealth that I know, so here is some inspiration for you, the pro
trader and where you should see yourself 10 years from now ---
www.tradingforexgonewild.com.

I will help you become a professional Forex trader and earn consistent Forex
profits --- YOU will have to keep asking questions.

Sincerely,

JOSEPH WOHLERS

Email your questions to jdub@meangreenmoneymachine.com

Visit my website for professional tips to live and trade by…

www.meangreenmoneymachine.com

For my instructional Bollinger Band Training video, check out this link from
time to time to keep up to date with my latest videos:

http://www.youtube.com/watch?v=IEjfHIoYVm8

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