I hope that by now you’ve had a chance to watch the Forex discovery (part 1) video which Bill Poulos shared with me yesterday. (If not, go here: Forex Discovery part 1). I particularly liked his “Traders’ Mind Map” bit.
It’s easy to see that this video has hit a nerve with some traders as you can read on his blog.
Well, now part 2 of the Forex Discovery is ready and it talks about a concept called “Flexible Forex Day Trading in Action”.
Tap here to watch part 2 of the Forex Discovery
In the first part Bill Poulos explained why the current financial crisis actually opens up new opportunities in the Forex market and how you can easily trade in a total flexible way, whenever you want, in as little or as large time investment as you want.
In this second video, Bill takes this a step further and goes deeper into the very way in which he trades the markets. In this video you’ll be able to see how he identifies high probability trades in all 6 major currency pairs and in any time frame.
He’s using candlesticks in a way I’ve not seen anyone else do it and this seems to be one of the reasons his method is so powerful.
Tap here to watch part 2 of the Forex Discovery
In this video Bill discusses a few points regarding risk management such as:
- How to place your stops where you don’t expect the markets to do
- How to get into what he calls “a free trade situation” as easily as possible and as fast as you can do it.
- A risky market condition you must stay clear of.
- A risk management trick that Bill claims is based on one of Albert Einstein’s theories
As Bill is known as a true expert in money and risk management, I believe that this is really the major benefit of this video, as I believe that reducing risk is even more important than knowing how to make more profit. Remember, a single bad trade can wipe out the gains of many winning trades. Make sure not to let this happen to you.
I know that I hate losing even more than I like winning. Maybe that’s just me, but it’s the way I like it.
Anyway, check out the video. It’s great training material: Tap here to watch part 2 of the Forex Discovery
