Comments on: The Psychology of Breakeven Forex Trades

By: Благодарность

Благодарность — Fri, 07 Dec 2018 22:04:03 +0000

Instructive article! Thanks Mr. Nial!

By: Eve

Eve — Fri, 12 Aug 2011 12:52:27 +0000

Again and again great aricle !

By: Brodwyn

Brodwyn — Fri, 29 Jul 2011 08:55:58 +0000

Thank you Nial for this very necessary article.

I like this idea about a break-even mentality. As somebody still learning the ropes, experiencing the emotions of quite a few losing trades, break-even is very welcoming. It allows to enter trades and gain valuable experience without a woeful diminishing of capital. I looked back at some of my recent losses after this article and realized that many of them could have been salvaged if I moved the SL to BE at the appropriate time. I would have gained the same experience with my capital intact.

By: Brian S

Brian S — Fri, 25 Jun 2010 11:25:52 +0000

Another great lesson from the master”Nial” Thank you!!! Just a quick side note- I purchased Nials course 1 year ago this month and have studied his methods every day. I am profitably trading FX now. I have a background in trading and can tell you that if you want to be a profitable trader this course is your answer.Study it diligently and and understand risk management and you will be profitable. Thanks again Nial I couldn’t have done it without you and I look forward to meeting you in person one day!

By: Brian Pittman

Brian Pittman — Fri, 25 Jun 2010 10:25:02 +0000

Excellent and well said. Letting go of a loser, not being greedy and being patient is hard to do but a great thing to do in the long run. So much to learn.Thanks again. Keep the wisdom coming.

By: galen

galen — Sun, 20 Jun 2010 08:25:18 +0000

A nice tip to know, break even is a positive.

By: richy

richy — Sat, 19 Jun 2010 16:18:20 +0000

thanks so much nial. i definitely have found the 80+% of trading skill which is “mental” more times has to do with the exit rather than the entry. this is personal to me of course and so i really appreciate you writing this super-helpful article. you have taught me so much about the value of true confidence verses ego-driven arrogance. excellent job coaching, coach!!

By: moodyfx

moodyfx — Sat, 19 Jun 2010 13:22:16 +0000

I love this part of it modtly “What if we humbly reconfigure our mindset and view” . I experienced it and had a positive outcome for a period of time, then somehow got back to my old bad habit. thanks for your articles.

By: Gbenga

Gbenga — Sat, 19 Jun 2010 11:54:37 +0000

This is a true information for next level in trading. appreciate

By: seb

seb — Sat, 19 Jun 2010 10:47:30 +0000

yes nial,i quite agree, becouse when ever i feel a trade is not going quite as it should, the first thing that comes to mind is breaking even or close to that,and for someone like me who is new to forex, not loosing money has a priority over making money!..

By: nial

nial — Sat, 19 Jun 2010 04:15:48 +0000

In reply to stephen portman. You can email me with question for members course etc.

By: nial

nial — Sat, 19 Jun 2010 04:13:59 +0000

In reply to AlanD. What i am saying is, learning to take break even is a good a skil as learning to take a profit. This article is not about the trading method or plan, it's about training your mind. A break even trade ( 0 ) is a good result and should not be seen as a negative outcome emotionally. A rotation market which retraces within a overal trending move may move back to a break even point, that has nothing to do with the theme of this article, that is more "tradign method related" and will save that for another article and time. For now, focus on the idea that a there is nothing wrong with a break even trade, in fact it is much better than a loss, and frankly a break even trade could be seen as an "emotional" profit, because it will help kep your state of mind neutral and positive. This article is "brain training" and relates to your state of mind.

By: sergei

sergei — Sat, 19 Jun 2010 04:12:20 +0000

Thanks for another great article

By: AlanD

AlanD — Sat, 19 Jun 2010 02:00:06 +0000

Hi Nial,

I although I have not as yet taken up the offer of your trading course… I certainly enjoy your news letters.

For me this week has touched on a very sensitive issue, regarding Breaking Even…

When opening a trade, on a positive early entry, invariably there are retracements, which in the early stages could force your account into negative territory…Are you suggesting, that every trade which approaches “0” ought to be closed out, before this dreadful number pops up ?? In other words when trades are in a trend , which are continually retracing while threatening our account, we ought to stay in the trade, hoping for a positive result…otherwise we jump out before every “0”.

Thanks again for your great news letters…
Kind Regards,

AlanD

By: John

John — Fri, 18 Jun 2010 23:55:20 +0000

In my trading plan I have stated that there should be
1 – some loosing trades (stop loss)
2 – some break even trades
3 – some trades with a small profit
4 – a few big winners which is where the profit comes from
I also state that in order to get the big winners the other trades must be taken.
John

By: Alex

Alex — Fri, 18 Jun 2010 22:25:13 +0000

Excellent perspective. Two positive journal columns and only one non positive.Coincidentally 2:1 ratio, good stuff.

P.S thank you for your phenomenally clear and free videos you have informed this novice to a clearer and surer way forward, having spent months trawling through mostly hype and sales pitches you are a hurricane of clarity.

sincere thanks Niall.

By: Butch

Butch — Fri, 18 Jun 2010 22:24:37 +0000

Another great article teaching the emotional maturity required of a successful trader. What I appreciate most is the reconfiguration of our mindset to view the market as a “magnificently complex place full of opportunity”. “0” is not a bad thing in trading. Unless your records reflect fear, anxiety, etc.. I agree with both Mayowa and Charles. The character of a successful trader is special yet humble. Thanks Nial.

By: denis

denis — Fri, 18 Jun 2010 22:05:16 +0000

Thank you Nial for this.I completely agree with that. Your articles are very helpful.

By: stephen portman

stephen portman — Fri, 18 Jun 2010 21:03:13 +0000

You’re touching sensitive and important areas of our learning process. It provokes thought and contemplation. Thank you.
How can I ask you a specific question about the course material that I didn’t understand?

Thankss again,

Steve P

By: Phillip Blackburn

Phillip Blackburn — Fri, 18 Jun 2010 20:58:43 +0000

Thanks Nial, , Yes Unfortunately your opening paragraph accurately describes my trading pattern this past week.
As a new trader your experience is a great inspiration and help.
Another great article.

By: Richard R Paterno

Richard R Paterno — Fri, 18 Jun 2010 19:34:32 +0000

Thanks Nial…another awesome perspective in how to see and trade the Forex Market…I hear you!!

By: IsomMayotte

IsomMayotte — Fri, 18 Jun 2010 19:21:09 +0000

Amen to that Fuller. I’m not afraid of a loss but break-even really makes it easier to refresh the mental computer to get back in the race. Break-even keeps me sane and in the game longer.

By: Bryan Cairns

Bryan Cairns — Fri, 18 Jun 2010 18:28:11 +0000

Thank you for this lesson. This is my first lesson and I am ready to empty my head of all that has in there before and now and ready to get back to the basics and learn all i can about price action trading. I will make some money again.

By: Ben

Ben — Fri, 18 Jun 2010 18:25:45 +0000

Good article, although I think you need to give a trade room to breath and sometimes stopping yourself out at BE (zero) or thereabouts can sometimes stop profits.

By: Mayowa

Mayowa — Fri, 18 Jun 2010 17:47:19 +0000

You’ve got the truth of the market in you Nail…Pour more out bro,am are ready to learn….this is nice

By: Charles

Charles — Fri, 18 Jun 2010 17:37:13 +0000

Thanks for another great article. I guess getting a “Zero” is something we are trained to avoid from early school days. On the surface “0” also represents “waisted” effort and delay in reaching a profit goal and is thus very frustrating. Your article helps me to see this occurance in trading in a better light. Thanks again Nial.

Charles

By: T Allen

T Allen — Fri, 18 Jun 2010 16:33:58 +0000

Thanks Nial

We appreciate your continued lessons. Each one is very helpful and very practical.

T Allen