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Les Schwartz’s DecisionBar Trading Software

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Les Schwartz on his DecisionBar Trading Software: Let me start by telling you up-front, that if you pay attention to the simple concepts I am about to teach you, you will become a more profitable trader ... and it's absolutely FREE. This will be short, so please take a few minutes to improve your trading. The fact is that most traders just don't understand what trading is all about. And that goes for many "experienced" traders and so-called "Gurus." Here are two rules you must follow if you are going to be a successful trader.

Here is rule #1, short and sweet:

Being a successful trader is not about making trades. Being a successful trader is about NOT making trades. Put another way, being successful trading is not about making trades. Trading is about making money.

The fewer trades you need to make, the more profitable you will be. If you are making a lot of trades, it is good news for your broker, but not for your bottom line. A couple of days ago I got an email from a forex trader who wanted to know if you could make money trading a daily chart of EUR/USD.

Well, let's take a look at the chart of EUR/USD for 2010: Do you see it? Do you get it? Smart traders haven't been trading the Euro. Smart traders have been taking positions in the Euro.

From December of last year to June of this year, the Euro dropped from about $1.50 US to about $1.20 US. About 3000 pips. That's an average of about 25 pips per day, or $250.00 per day profit for a standard lot or $25.00 dollars per day for a mini-lot. At 100/1 leverage that's an average 25% profit per day.

Once you get by all the forex hype, the fact is that no robot, "Guru," or short-term trading system will beat that return over 7 month period. Of course, in the real world, it's almost impossible to pick the start or end of a trend, but once you realize a trend is in place, we have rule #2.

Smart traders never trade a trend. Smart traders hold a trend. Before you trade anything short term, see if the short term movement is part of a longer term trend. If it is, take a position with the trend. It doesn't matter if you trade stocks, futures, commodities or forex, the only way to take the stress out of trading is to be confident that you will win more trades than you lose, and your winners will be bigger than your losers, on a daily basis.