Waiting for Update
Trade Context is Busy
Bid – Ask
MT4 charts are bid charts
Margin

Waiting for Update
“Waiting for Update” is a common message with a new account or when switching between a mini
and a standard accounts. There is an easy solution. Go to the Market Watch window, left click
and hold down the mouse key on the pair you want to see in the chart and drag that pair onto
the chart that says “Waiting for Update”.  Release the mouse key and this will automatically
update the chart.

Trade Context is Busy
You receive “Trade context is busy” when you try to process two or more orders at the same time.
If you have placed a trade and do not wait until it processes completely and then try to place
the same trade or a different trade, the commands go into a loop and you get “Tread context is busy”.
The only solution is to close down the platform and restart it.

Bid – Ask
All Forex quotes have two parts, the BID and the ASK.
The Bid is the price at which you (as the trader) will open a sell.
The Ask is the price at which you will open a buy.
The difference between the bid and the ask price is known as the spread.

MT4 charts are bid charts
The current price shown on an MT4 chart is the bid price. When looking at a price bar or candle,
you must add the spread to the high bid price to know what the high ask price would have been,
or add the spread to the low bid price to know what the low ask would have been.

If you are in a sell (in at the Bid out at the Ask), you would not see the candle reach your stop
loss if you are taken out of the trade. For example with a stop loss of 1.45800 on the EURUSD once
the chart reached 1.45780 (2 pip spread) you would be taken out of the trade at 1.45800. Your take
profit would not trigger until the ask price hits.  For example with a take profit of 1.45400 on
the EURUSD once the chart reached 1.45380 (2 pip spread) you would be taken out of the trade at
1.45400. These examples are based on our spread shown under normal market conditions. Our spreads
are not fixed and will fluctuate with news or other high / low volume conditions.
If you are in a buy (in at the Ask and out at the Bid), you will see the bid price on the chart.

Margin
Margin is the amount of necessary money needed to place/maintain a position.
Margin Level Percentage is calculated by taking:
Equity/Margin x 100 = Margin Level Percentage
Equity (your true Account Value) is your Balance +/- any open positions.
In normally leveraged accounts.

When a margin call occurs, all open positions are subject to liquidation at the prevailing market
prices without prior notice to customer.

Here is a little chart to see what it takes to recoup a loss at different levels.

% Draw down            % Gain required to
Recoup loses

10                                          11.11
20                                          25.00
30                                          42.85
40                                          66.66
50                                          100
60                                          150
70                                          233
80                                          400
90                                          900
100                               Out of Money

Once you reach your draw down level you should close all trades without thinking about it and find out
what you are doing wrong.  Here are some things to think about:

Am I following my trading system?
Am I following my trading plan?
What is my state of mind?
How is my physical condition?
What do I need to do to correct the problem?

By following these simple rules of preservation you will be around for another day of trading and not be
emotionally and financially destroyed.  We all can have a string of bad trades.  The best thing you can
do is step back and give it some time.  The most common problem of poor trading results is when a trader
gets away from the trading strategy that was successful for him.  By using good money management and
following the trading rules will give you the opportunity to be able to stay in the trading game until you
can figure out what you are doing wrong.  By having some rules to follow it is usually quick and easy to
see what is being done wrong.  You should be able to spot some rule breaking by looking at just one losing
trade.  You should not have to go for long periods of time and many trades to see that you are doing some
things different.

Do you still leave trades on hoping they will come back.  You know the “blowout trades”
that take all of the money you just made, and put you back to where you started or just
plain wipe out your whole account.

“Are You Set To Make The Wrong Decision On Your Next Trade?”

If you are not set to make the trade that your tested trading plan dictates you should make,
then your are set to make an emotional trade.

Do you keep making the wrong trades all the time?  If so most likely you are the problem.
It is not the trading system you are using, or the market, or the limited time you have to trade,
it is YOU.  You are the common denominator.

Solution:

Know your trading system
Follow the trade tracker
Keep a trading journal

Then

Make a trading plan
Follow the trading plan

These simple steps will help you develop the discipline to become a successful trader.
It is simple but it is not easy if you want to take short cuts and play the get rich quick game.
It takes time to develop the skill; patience, discipline, and persistence to become a successful trader.
But it is worth it when you get there.

The first rule is to trade money you don’t need.  If you don’t need the money then you can be more in
control of your emotions and your trading.  Make sure that the money you are trading with is not needed
for personal living expenses.  You need to know that the more money means to you, the harder it is to
trade.  To a trader money is just a means of measuring your trading results and success ratio.

Most traders feel that you should not risk any more than 5% of you trading account on any one trade.
We feel that you may want to consider 1, 2 or 3 % to start with.  So if you have an account of $8000,
you should only trade $400 or 8 mini lots at one time using 5%.  When you use 2% of your account you will
only be trading 3.2 mini lots per trade.  The reason to trade with such a small amount of money is to stay
in the game and let the probabilities work for you. Preserve your trading capital so you can stay in the
game.  The more investment capital you have to trade, the better the chances of the probabilities working
for you.

This means you have 25% losses and 75% wins.  So if your wins are larger and the loses are smaller,
you will have a successful trading account.  This means you will lose 1 out of 4 trades.  If you
execute all the trades exactly the same then you can pin point the problem areas in your trading.

By doing the same thing each time you place a trade, you are developing a mechanical trading style.
You just see the trade and pull the trigger.

When you have a loss you need to still reduce the pain and emotions.  You need to make the money you
lose not so valuable.  Also set a limit of how much you will lose before you go back to demo trading.
All of your testing should be done in a demo account to get the skills you need to trade well.
It doesn’t hurt to go back to demo trading if you have a losing streak.  Do another 20 trades, get
your rhythm back then return to live trading again.

This is the way we like to take the higher probability trades.  When we get a signal on
the 15 min or 30 min time frame then we look at every thing up to the 4 hour and see if
the signal is going in the direction of the trend on each of the larger time frames.
If they all give confirmation then you have a better chance of getting a high probability trade.
If you do not have confirmation of the trend on all time frames the strength of that trade is weakened.

You need to learn to use all of the indicators in our courses so you can determine what to look for.
If you have patience, and follow your trading plan then you can become successful at trading.
Once you have a solid understanding of how to trade manually and can read all the signals then
you can use the alerts to bring the trades to you rather than having to spend time looking for
the trades.

The Alerts are based on the entry signals in our courses.  They save you time looking for trades.
You can watch many currency pairs at one time and only take the best trades.  You will always know
which pairs are moving on any given day because the alerts will give you heads up.

The advantage a trader has is to be able to spot trades that will give them a greater chance for success.
Since trading cannot be 100% then we have to be concerned about the 15 to 25% of the time when we are going
to be wrong.  To have a better gauge of how successful a trade might be one has to get knowledge,
experience, and practice.  To become a successful trader it is not so much about having big winning trades
but having more winning trades than losing ones. Trading is a numbers game so you can expect to win some
and lose some.  It has a great deal to do with how you manage your trades.  When a losing trade is managed
properly it can be a small loss rather than a large loss.  When a winning trade is managed properly it can
become a larger win if you don’t get greedy.

To become a good loser you need to learn the difference between experienced losses and losses that cause
suffering.  We first need to get the education and logic behind trading then we need to strengthen the
emotional side of trading.  Having a trading system the gives exact entry and exit points can do this.
Systems that move with the market to let you know when to get out.

Most traders have a good enough trading system to make money and the reason they DON’T is
that they lack solid trading discipline.  The traders that succeed in trading do the following;
they follow the trading strategy, they keep a journal, they track their win-loss ratio, they
have a trading plan, and they follow their trading plan.

The successful traders are patient; they wait for the trades to come to them.  They only take
trades that have a high probability of success.  They usually trade on time frames larger than
the 5 minute.  They trade from the 15 minute chart or larger.  The only reason they use the
5 minute is to time the entry when they are day trading.

The more unsuccessful traders lose the smaller the time frame they gravitate to.  The successful
traders gravitate to the larger time frames.  When trading the larger time frames there are fewer
whips saw actions so you don’t get faked out as often.

The trader needs to know their trading strategy inside out.  Not just go over it a couple of
times and never review it again.  If you keep the trade tracker then you will know where you
need help and can go back to the trading system and study the areas you are week in.

When something goes wrong unsuccessful traders start to trade more and the more they trade the
further away from their trading plan they get.  They let emotion and greed creep in.  When this
happens they are just about finished as a trader.

A trader needs to know when to go back to demo trading and review the rules.

If you are not succeeding as a part-time or full-time trader, then discipline is likely your issue.

After this, we just need you to answer ONE question for a potential GREAT opportunity.

CLICK HERE and just fill out this one question. Whether you’re interested or not, please fill out the form.

Just remember, this is VERY real and ONLY for you if you’re DEAD serious about starting a great business in 2010…