Potential Forex Profits

As you know, Echo FX strives for quarterly profits rather than monthly profits. The reason for this is that the Forex market is always changing - It is impossible to predict when such changes will happen and no two days are the same. By setting quarterly profit goals rather than monthly we are able to more realistically adjust to such changes.

Trading Holidays

On Thursday of this week we will be celebrating Thanksgiving here in the U.S. and on days such as that we do not trade. Also, because of the short week, we will not be holding a webinar. If you have requested a webinar invitation, information will be sent to you on Monday of next week.

This guy predicted the Financial Mess

This gentleman, long before almost anyone else, accurately predicted the situation we see playing out in the world economy. Check this out - fascinating.

Some Interesting News

In a time when it seems all economic news is bad, here is some interesting news. The U.S. cost-of-living fell 1% last month, the most in history. However, it is important to remember that news announcements, this one included, don't heavily affect our trading or our system's probability of success/failure.

A Note about Drawdown

When passing through a string of losing trades, it is always good to remember that drawdown is a common occurrence in Forex. It is the reason that Forex is a higher risk investment than many others. No two days in Forex are the same and no system is consistent on a daily or even weekly basis. The reason we share our maximum drawdown target is to remind you of that fact. Your Forex account is your Forex account and you can do with it what you will. At anytime you can withdraw your funds or have trading stopped. However, as many of you know, strings of losing trades are often followed by series of winning trades.

The important thing to know when passing through down periods is that we are disciplined traders. We are not emotionally affected by losing trades just as we are not affected by winning trades. We continue commit to you that we will trade the plan so long as we believe that it is a viable plan and are confident trading that plan with our own money.

Forex Managed Account Webinar

We are having another Forex Managed Account information webinar tomorrow, Thursday, November 13th at 4:00pm Mountain Standard Time (6:00pm EST). If you would like to join, request an invitation by visiting the Echo FX Website.