“You don’t put anything in your life you can’t walk out on in 30 seconds flat if you spot heat around the corner.” Robert DeNiro as Neil McCauley in “Heat”.
Having a few hours to kill for the first time in months and adding to this the miserable rainy days, I looked through my DVD collection and decided to watch one of the greatest police movies ever made – Heat. Written and directed by Michael Mann and starring DeNiro and Pacino It’s really a wrenching rumination on life and love rather than just another crime thriller.
But our subject here isn’t film criticism -its trading. So what does “Heat” have to do with the forex market? More than you might think. DeNiro’s few words about how to survive as a criminal may not have any resonance for us in our regular life but it is dead on when it comes to understanding how to succeed in the markets.
Why it is important to get in and when to get out: 10 pips profit should never become a 40 pips loss. You take your money and run. Stay to your discipline. Professional traders know their stops, know their limits and they stick to them. Novice traders lift their limits and move their stops all the time in order to squeeze more money out of the situation but quite often turn a winning position into a losing one adding to the frustrations. Therefore stay to your discipline. It doesn’t matter how high the trade goes, you take your profit and go!
Rudy – Professional Forex Trading Mentor
+27 82 926 6855
wipe out your fear, failure is not an option
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