Moving on…

If you’re still reading this, congratulations, you’re likely to be in the minority of traders who act based on facts, not emotions.

Countless others would have simply denied the facts, and moved on to the next shiny trading tactic that makes them feel good.

Not Everyone Is Ready To Accept The Fundamental Truths Of Retail Trading

In the first part of the manifesto, we came to the conclusion that to prosper as retail traders, we’ll have to trade in ways that complement our strengths and avoid our weaknesses.

We only want to participate in the game at which we are most likely to excel at – and the first step to doing this is to trade on the longer time frames.

Now, if you’re ready to discover more, let’s move on to the second Principle.

Trading becomes “Fun”

Among the 5 physical senses, the sense of sight is the one most utilized and appreciated by people. The lure of retail trading is in this way deeply rooted in the human psyche – it appeals to a person’s need for visual entertainment.

Unsurprisingly, most of our modern entertainment such as movies, magazines and television are catered to fulfilling this need. It is of little wonder thus, that the availability of free trading charts has led to a dramatic increase in the number of retail traders in the past decade.

Unfortunately (and unknowingly) for many of these people, trading has become a source of entertainment rather than profits.

In fact, it may surprise you to know that most retail traders do not get as excited making profits, as they do watching the market move in their favor.

The result is that traders tend to resist taking profits, preferring to allow prices to continue moving in their favor… until of course, it doesn’t, and reverses back past their trade entry level.

Retail Trading has become a source of entertainment, rather than profits.

Now, trading off a price chart is not a problem in and of itself. It is how we (as humans) respond to it that leads to disaster.

You see, behavioral economists estimate the intensity of a negative trading experience to be 2.5 times that of a positive experience.

In other words, you need to go through 2.5 times more positive trading experiences to offset any one negative experience. It’s no wonder that short-term traders get frustrated and burn out at the end of every trading week, even when they’ve made a net profit.

Short Term Trading Leaves People Emotionally Drained

The constant staring at price charts and the daily emotional “roller coaster ride” that accompanies short-term trading leaves most people emotionally drained. And the worse they feel, the more they tend to make emotional trading decisions.

This quickly becomes an endless cycle of:

Staring at price charts for hours
Getting emotionally attached to trades
Going through emotional ups and downs due to price fluctuations
Making poor trading decisions
Continuing to stare at price charts

The Cure To Emotional Trading

Most trading books and courses (especially those on trading psychology) spend significant time and effort trying to get its readers and students to avoid emotional trading. To me, this is a complete waste of time because people are emotional beings.

As much as we try to be objective in our daily lives and in trading, being 100% rational (especially in trading) is practically impossible. We can’t stop being affected by our emotions any more than a fish can stop swimming. It’s quite simply, in our nature to be affected by emotions.

I will never be a completely rational person. And chances are, neither will you.

So how can we get around this problem?

Principle #2: Minimal Monitoring

Instead of trying to avoid our emotions, a better approach would be to eliminate the triggers of these emotions as much as possible.

In other words, instead of trying to avoid being affected by our emotions, we want to avoid the situations that cause us to be emotional in the first place.

This leads to the inescapable conclusion that the less we look at the trading chart, the more likely we’ll make sound trading decisions, and the better our trading will be.

Any trading strategy that relies on constant trade monitoring harbors the seed for emotional reaction to market price swings. It is what causes us to adjust our stops and extend our profit targets, even when we know we shouldn’t.

And since we can’t stop ourselves from being emotionally-driven, it makes sense to follow a trading approach that places minimal emphasis on staring at price charts.

Again, this is a foundational truth that few traders will be willing to accept. They enjoy the thrill of trading too much to let it go.

Starting with the End in Mind

Every wealthy person is clear about what they want, in the end, for their efforts.

Serial entrepreneurs start new companies knowing they’re going to cash out in the end.

Property developers build apartment buildings knowing who they’re going to sell to, and when.

Long term investors like Warren Buffett look to hold their investments for as long as possible.

Successful people know exactly what they want, and design their methods according to those standards.

Why should trading be any different?

In all the years I’ve been talking to retail traders, only a handful know specifically what they want out of Forex trading.

Most traders just want to “make money”, but that’s not specific enough.

So I want you to sit down and spend some time alone. Think seriously about the type of trader you want to be.

Imagine yourself 5 years from now, making a comfortable income trading from home. What’s it like, on a regular trading day for you?

I say this because if you don’t know exactly what you want, you’re likely to get everything else that you don’t want.

An Important Lesson

I don’t talk publicly about the people close to me, but this is a lesson that may be useful to you, and just as importantly, I have permission to share this story.

OK, so.

I have a good friend, Mike, who’s also a retail Forex trader.

Mike’s probably the most determined guy I’ve ever known. When he first started trading, he’d spend 8 hours a day staring at 5 minute charts, watching the price action and trying to identify high-probability setups. This guy has the concentration of an Olympic athlete.

After 6 months of continuously watching the markets for 8 hours a day, he started to pull some impressive profits.

On good months he would grow his capital by 200%. That’s a tremendous investment return. The results were so ridiculous I didn’t believe him until I saw his broker statements.

At that time, although I was more experienced at trading, I was impressed by how he managed to keep performing week, after week, after week.

I’ve known Mike for a while now, but his unbelievable results made me incredibly skeptical… I half-expected him to blow up his account sooner rather than later.

But there he was, day in and day out, taking 5 pips here, 10 pips there, watching the price charts like a hawk.

After a few more months and hundreds of trades later, I could no longer deny that Mike clearly had attained the intuitive skill of predicting short-term price movements. It’s a tough skill to acquire, but he somehow did it.

Fast forward a year, and where do you think Mike is now?

Lying on the beach, sipping a cocktail on some remote Caribbean island?

In reality, Mike has since closed his trading account, quit trading, and is now quite happy making $3,000 – $4,000 a month selling second-hand cars.

So what happened?

The Fallout

In short, Mike realized that although he gained the rare skill of profitable short-term trading, this meant that he would forever be chained to his trading desk – he wouldn’t be able to get away from it for as long as he was a short-term trader.

Mike spent almost a full year learning how to scalp (trade in the short-term), without considering if that was what he wanted to keep doing for the rest of his life.

He’d spend his days sitting in front of the computer, waiting for the right setups, which sometimes for days, never came. Imagine staring at the 5 minute price chart for 8 hours a day, over a few days, waiting to take a trade.

I noticed how he became increasingly irritable and constantly tired. Whenever I met him for lunch (he would usually eat-in, as he couldn’t leave his trading desk), he was constantly worrying about how the price might move within the next hour – he couldn’t even eat a simple meal in peace.

In the end, he realized this wasn’t something he could keep doing. He thought he could scalp for two years, make enough money and then quit. In the end, he stopped after less than 3 months of profitable short-term trading. It was eating up too much of his personal and social life.

So he closed his trading account, found a job he liked and never looked back. One day perhaps, he says, he’ll get back to trading again. But this time, he’ll set his sights on trading in the medium and long term.

Being a Short-Team Trader means you can’t walk away from your computer.

It becomes another job.

Unlike Mike, unfortunately, not many people have the courage to give up something they’ve spent so much time and effort on, even when they find out they’re on the wrong path.

Could Mike have continued on to trade successfully in the short-term, if he chose to? I honestly don’t know. I’ve never met anyone who has managed to do what Mike has done in terms of raw profits.

Maybe he would have blown up his account in the next year, or maybe he would have gone on to become one of the world’s most successful traders – your guess is as good as mine.

I do know, however, that as talented a trader as Mike was, the one mistake he made was not thinking about how he wanted to be trading for the rest of his life.

It’s one of those things that don’t seem important at first, until it’s too late.

Thinking About Your Future

The bottom line is you need to think about the type of trader you want to be, before you even start trading. This may seem like an insignificant thought now, but it will make all the difference in your trading journey.

Personally, I want to spend as little time in front of the trading charts as possible.

I want my trading operation to work for me, not the other way around.

What about you?

What Do You Think Of Principle #2?

Let Me Know In The Comments Below!

Next: Principle #3

Click here to read Principle #3

SHOW ME YOU'RE ALIVE! Comment below and let me know what you think...

Your Comments (246 comments so far)

peter

just help send to my email the subsequent ones
peter

ineed part 3 to 5 of effective trading principles thaght by yourselves
thank you
nelton

please i need part 3 to 5…very good…thank you
Aondohemba

With this Manifesto Chris Lee has taken us to the next high level in his habitual high-profit, low-risk forex trading methods. Kindly forward to me Principles 3,4 and 5.
kent

Good information, please send to my email the subsequent one. Thanks!
jalak

Chris, informasi yg baik. Tunggu part 3-5. Terima kasih.
Chris Lee

Hi guys, thank you for your kind words.

I hope you’ll put these ideas to good use!

The next Principle will be sent to your email address shortly.
Roby

You’ve opened my eyes and my mind.
Waiting for next principles.

Thanks
Roby
David

Just getting it for the first time… hope it would work well!. Anyway, thank you and keep on helping us and you will continue to receive God’s blessing. Thanks again.
ilham

very good opinion and very powerfull to change my mind tq
forex nagaraj

Hi thanks for your part 1&2. And eagerly waiting for others parts too. Have an good day.
Ismail

Just what I needed. Thank You
judd

yes very good, i am a five minute scalper, and i never thought about what i will be doing in five years time, i don’t want to be spending 6/8 hrs a day in front of my computer, very interesting stuff, thanks Judd.
Juan Bete Ngalob

Thank you for the next three principles.
S. Balasubramanian

Your Retail Forex Manifesto – Principles 1 and 2 offer right insights to the traders. These have to be practised. It is better to read Second Chapter again and again. Yes, we are human beings and one cannot always completely be emotionless. But we can try and keep in under check which is possible by conscious efforts. The most important emotion is on the question of cutting losses which very few traders accept – if one accepts trading as a business plan and losses are part of business; then only cutting losses can happen. I look forward keenly to receiving trading principles parts 3 to 5 for augmenting my strengths. Thanks and regards.
Amos

This is a hidden truth that most traders are ignorant about.
It,is indeed a eye opener thanks a lot.
emmanuel

This is a real eye-opener for me and i can’t just wait to see the rest. More power to your elbow Chris Lee
cavincent

thanka i like it .the way you wrote the fundamental.
Caroline Du Preez

Thank you, you are very honest and I appreciate that. Looking forward to the rest of your manual.

God bless.
as

what a great resource
thanks chris
Aniruddha

This stuff is the best advice I’ve ever read !
victor

it looks promising. until i see it all. thanks.
duncan

wise stuff chris
Vincent Tjoe

Brilliant and honest explanation.. I fully agree and will rethink my attitude towards my retail trading business… Thank you and I am very excited to hear more of your teachings.
satyam

looks good so far!
Lydia

Sound advise and good food for thought!
neville

the truth hits me like a blinding light how do i want to be trading in five years time
mohd

TQ. The great book must read for new trader like me. tq
eugenio

very enlightening.
Marvin

I’m glad you are some one who wants to help the newbie out, thanks!
Lalit Burhade

I am already working on longer time as mentioned in Principle-1. But seeking more guidelines from you for perfection in Part-3 to 5…….Hopeful. Thanx
mongo

Chris – believe it or not, I was a former student of yours and still to this day look forward to your insight and brutal honesty. I too was once a screen zombie…no more. If it’s not 4HR or Daily, it’s not! I’ve learned over many years that longer TF’s promote healthy lifestyles, better results and flat out more enjoyment when it comes to trading. And you’re spot on…if you don’t treat it like a business with purpose and an end result, you’re doomed. Kudos on a well written and insightful manifesto…Bravissimo!
Deni

Hopefully this will help to get more pips, Chris!
Damianus

Information that we might never thought or realized.
Udy

Well done Chris – just can’t wait for the next remaining parts to get the full perfect shape.
Johann

I have seen and heard of too many people losing it all. Looks like you have something here Chris! I am looking forward for the principles to follow and to start trading with common sense and this knowledge. Maybe this will enable me to make real proffits
Joe

Exciting reading – can’t wait for 3-5!
rick

Been through this, tied to the screen 14 to 18 hours a day, falling asleep at the computer, defeats the purpose of trading, even if you are winning. You DO NOT want to, in fact you cannot, do that for the rest of your life. If you try that life will be very short.
frank

hy chris!!!

i got your e-mail just in time. istarted to work on the dayly system two weeks ago,afterloosing my hard earned money. now i am working again on a demo account until i scratch enough money together to start life trading again.
i like what i read and have only one questione? what would in your figures (expences)be if you also calculate the SWAP charge?
looking forward to your upcomming e-mails. thanks frank
Vincent Tjoe

well presented.. thank you.. excited to see the rest of what you have to say Chris..
simon

simple but sound workable….would like to learn more…
Grant

Hi Chris,
What you have said so far is “right on the button”. Trouble is we get a buzz out of staring at the screen and taking trades often for no good reason, only to see the market go in the opposite direction. At this point we hope the market will turn – it often does too, just after we can’t stand any greater loss and have exited the trade!
End of day trading is far less stressful, minimal screen watching and more profitable too.

Thanks,
Grant R.
Adrian

Great stuff!!
Often the simple facts are the ones we miss in our rush to “Get Rich Quick” that ends up in the “Get poor even quicker scenario”
a

awesome
Des

excellent advise to the newbie’s out there,,, I agree the money is definitely in the longer trends for the various reasons you have aptly pointed out. The problem remains however that the longer time framed trends require huge stops and those huge stops are hit overnight over and over and over, for us north americans when the asian and european sessions are more active than ours.
ekanem o.m

really incisive and expository information.thank you.
Chris

Hello everyone,

Thank you for your kind words… I hope you enjoy the upcoming parts 3-5!

Cheers,
Chris
Coetzee Nortje

I simply love your observations. These are obviously borne out of quite a few days of trading and the general observation of us humans. The same principles apply to so many levels /activities of daily life.
Thanking you.
ROTIMI

your report is great beacause it revealed my shortcomings in trading. fx.
brian

Awesome principles, i’ve been trading on my demo account and all the pit falls you mentioned occured.After reading your article i will feel better in handling it
Handy

Thanks for sharing this
gila1948

Hello Chris, thank you for sharing all your interesting thoughts. Imagine, I`ve been trading in demo and live accounts since 2009. I won and lost ( lost more than won. Now I decided to stay in demo-accounts as long as I got a 90% security of winning my trades. In the mean time I understood the chart patterns a little bit and I followed the rules. In the most cases successfully. I`m trading in the 4 hour time frame. I`vè got a nice stragedy based on candlesticks and trendlines. I think trendlines and horizontal levels help you to recognize yur chances very well. I would like to learn more about these magic lines, because I found out that they can often predict the heigth and the longth of a trend. and especially I want to get into contact to other forex traders in order to change thoughts and experience. Please send me the continuation of your manifesto. I`m hungry for knowledge
Yours Gisela
james

Just read Part 1. I was quite educative. I hope subsequent lessons will open our eyes and minds to trading foex in a better way. Kudos and thanks, Chris.
Pat

Reading principle 1 and 2, make me realise that common sense is not so common. Therefore it is always a pleasure when someone has the ability and foresight to enlighten us.
Tim

Nice so far – I look forward to the other modules.
milan dolak

very true Milan
Rajesh Bhandari

Very interesting to read this in black and white, I can relate to so much of what you say having already made these mistakes and not just once, even when I have known I am taking the wrong action I continued along the same path.

Thanks, I will most definitely spend more time planning, setting up and walking away from the charts. I am looking forward to reading the rest.

Again, thanks for an interesting and relevant read.
Euan

Thanks for the informative documents so far, though most of the books on the subject cover the same issues as you saidso does prepare the mind to an extent.
What I am interested in reading being a relatively new trader is how to move from short term to medium term trading. For me the big diference is your stop losses are so much futher away so when you do get a loss it is massive and think this is more soul detroying than small losses that seem easier to make up, though as you correctly say more emotionally taxing.
What about swing trading as an option, personaly I have not had much success with it as a system but it apparently reduces the stress factor of daily scalping ?
Cheers and l looking forward to the rest of your views
Euan
Valerie Reed

Hello, So far so good, but I never received Principal #3! Thanks
john

Sounds good if the trend prevails.But any time spent in the market is risky. You definitely want to know that the trend will prevail for some time in order to reach your target.In the current volatile market nothing is certain.
Bill

good information
David

Your manifesto should be required reading before anyone even opens a demo account. And the new want-to-be trader should be required to pass a test on the important points you present before allowed to open a real money account! That would save a lot of new traders a lot of money and emotional strain / pain. But it would also cost the brokers a lot of profits on those new ignorant traders, so neither the brokers nor the regulators are likely to do that. Congratulations to you for doing it! Keep up the good work and spread this info far and wide. Blessing be upon you!
jihad

that is very good until now , I think we need to know strategies to enter a trade , I mean when should we enter and leave ? thanks for your effort .
Abdul Rasheed

Very informative and revealing ebook. A must read before risking opening forex account with real money.

arasheed
FxTikTok

This should be very informative for all kind of traders. I may use this strategy for my trades
yogmah

thanks for the information;)
David

Thanks, I look forward for 3-5.
Tim

Iv been experimenting for some time at holding my trades for long and short times , and would agree that longer time frames are much more effective.
Umaru

What a well articulated Document any forex beginner need to lay hands on! I need more please.
Collins

I need the whole stuff ,it looks interesting
Mike

Thank you Chris. I would take issue with you on the pip spread accumulation V/S longer time frame trading. One factor to include is the “swap” charges. These may offset the long “time held” positions that you recommend…..Many thanks for the sound information….Best wishes….Mike – J
- Chris
  
  Hi Mike,
  
  Yes, swap charges do play a part too!
  
  99% of the time though, the difference is pretty much insignificant (in relation the type of profits made from trading the longer time frames)!
Cheryl

Your article really hit the nail, but somehow it really difficult apply and control the emotion when you’re in the live. I win some and lost even more by the end of the week. Perhaps i still can’t get control of my emotion when trading and the knowledge is far than enough. I’ve been trading for 1 year so far both live and demo but keep losing and blowing my account, and I wonder when can I be successful as you. Hopefully the article you share can help me go though this struggling game. Thanks and hope to hear more from you
peter

Very informative. I need MORE.

Thank you for sharing
Sadashiv

Excellent information,very nicely written.I m waiting for part 3& 4.
Peter colotti

Thank-you
Husain

Enjoyed reading 1+2 and waiting for 3+4. Great work Cris, I will diffidently benefit from them to plan my own conservative trading plan after I finish reading all parts. Thank you.
shawn

This emphasizes why I enjoy the 4h and daily charts so much. I already have a job and I don’t want another one. I became interested in trading because I could buy my time back and replace my income.
Vittorio

I’m eager to read the other “Principles”. Really catching.
Dan

Hello Thank you for the first 2 I am looking for the next 3
dennis rogers

I have enjoyed your observations so far and I am looking forward to the remainder of your thoughts on this very difficult subject on how to properly trade this market.

Thank you
ricky

great information
mariano

Thank you so much for the manifesto. It just shows someone out there is showing the way and telling the truth. Look forward to the rest of the manifesto. More power to you Chris.
mita

thank C.Lee

info yang sangat sangat baik, dimana terjadi pada trading saya.(menjadi peringatan).
i’m appreciate the other 3-5 into my email.
samuelwong

Hello chris lee, great ideas ought to share for common benefit. anyway,chris Thanks.God bless sw
Jameel B Joseph

Principle 2 is the best way of removing your emotions from trading. I liked it.
Terry

Good stuff!
Thank you
Dan

Hello loved the first 3 ready for 4 and 5
Robert

Dear Chris,
WOW! Your “Manifesto” shows the Wisdom of Solomon! I downloaded “Part I” 3 months ago and never read it until today! That was MY mistake! As I was searching in my files (soul-searching), I came across your article! As I read, I began to realize that I have gotten too close to my trading and haven’t been able to “see the forest for the trees!” If there is a Holy Grail, and I believe there is, it lies in your “Manifesto” not in trading methods! I’m much like your friend Mike. Just this morning, I was ready to quit and do something else! I’m trading very well, but overly focused and extremely weary! I’ve been part time trading for 15 years and full time trading for the past 3 months since being put on disability from my regular job. Seven of those years have been in the Forex! After only 3 months of full time trading, I am almost burned out! I get up at 1:30am each morning and trade until 1:30pm in the afternoon on 5 and 15 minute charts! It’s too much! You’re right, there are things much more important in life than being a slave to a computer screen! I just shut my trading screens down and am totally re-evaluating my trading business! I will completely revamp from top to bottom with a new trading plan, goals and longer time frames and methods! Chris, I have had 5 heart attacks and 2 strokes and am extremely tired and ready for change. Trading is not fun anymore! It’s become very hard work! I live on a beautiful golf course but never have time to play even though I am almost fully recovered from my illnesses! Running a business ought to be a pleasure with time for family, friends and things you want to do! Thanks for the wisdom and insight! I’m looking forward to the other 3 principles and what’s in store for my trading business as well as some free time! There must be a better way and thanks to you, I think I found it! By the way, I bought your Candlestick e-book a long time ago. Like your “Manifesto”, I’m sorry to say, I never read it either. Maybe I’d better print it out right now and start reading it tonight! I have a hunch it’s going to be valuable in my new trading endeavors! Thanks Chris for such valuable information! I’m looking forward to a much needed good night’s sleep tonight! You’re to be commended for your generosity! Kind regards!
- Chris
  
  Hi Robert,
  
  Yes, there are much better ways to be trading then spending hours in front of the computer screen. I’d very much prefer to let a trade run over the longer time frame and let it work for me, rather than working for it.
  
  About the Candlesticks e-book, I’ve recently made a huge revision to it. So please check your email to download the latest version!
Lisa Zid

Thank you Chris for teaching we little traders to
trade with the current and ride with the wind. look
forward to receiving your 3-5 principal parts.
Jojo

Hi! This will greatly help me in my pursuance of becoming a profitable trader, i can’t wait for parts 3 to 5. Thanks for your help!
adnan

This is really practical, it has a real experience behind, thanks a lot for sharing these ideas.
hyun jin han

very good
michael

awesome lessons i just learned…

thanks
Husain

Just finished reading part #3, enjoyed reading it and full of facts and tricks that the majority of retail traders are unaware of. Thanks again Cris …
Peter colotti

I am having trouble geting part 3 of 5 – can you help me please – Thank-you
Peter
Mohammad Kavoshnia

Thanks Chris,

Looking forward to receiving more articles from you,
I now realize that i should control my emotions and
trade on longrr time frames.
Jonathan

Hi,
Chris

Excellent
Strategies!

Thank
Ted Crowley

Enjoyed your comments. Looking forward to the other 3 parts
Eric Amaechi

Very educative article, please needs more of this to
assist me and others in forex trading.
Thanks
Nigel

A very impressive and well written manifesto Chris and lots of time taken on your part to inform us all …I can’t wait for the next part… very informative indeed Thank you very much Chris
Your doing a good job for everybody here Keep up the good work
VONKnezins

Thank you, Chris, for very valuable information!
raja

Thanks Chris. u r spot on regarding “Longer Time Frame trading”..
but I think we should initially spend a lot of time monitoring the charts (either trading small lots or a demo account)..this will give us a good understanding of different market behaviors , and our capabilities or limitations.
looking forward to your principles 3 to 5.
Carlos

Very interesant statements. Never have though this way about trading. Maybe is time to start thinking differently…. Thanks
Tunde

Awe inspiring and very educative indeed. Im really impressed by the honest expose on trading and especially the logic behind longer time frames. Excellent work. and many Thanks.
ron

Hi. I look forward to hearing more. Thanks. ron
Kenn Moore

Very good advice and should be thought about and implimented in your trading…………..
Daliam Tan

Chris,
Thanks for sharing all these principles behind you. In past, I kept entertaining myself with smaller timeframe…..so exhausted ! the worse part don’t see any good outcome after the long-run in term of money growth, time spend with family, friends, exercise etc. It become another job for me !

I think I need to have a total 360 degree change in my thoughts concerning making income from this FX market. Not to rush and having long-term view the way I response to the market movement.

Look forward for other final 2 principles.

And Chris, also look forward to have your ” pattern of success in FX market ” for the next coming Icarus course.

Thanks and GOD Bless You.
Daliam Tan
Fahmi Nazrin

Dear Chris,

Today 16th March 2012 @ 7.00 pm (Malaysia time), I’ve just finish reading the second principle and at the same time received email on third principle. Thank you. Really can’t wait for the fourth principle next week.
mayur mehta

hi lee , tank u very much was a short term trader glued to screen all te time tokk time off to see my mistakes and ur guide will surely help me go a long way , waiting 4 ur next guide .
And by the way can shown us how u take live trades online

thanx
guido

Hello,

Your Retail Forex Manifesto:

I think that people like you are too few.

You are great man, a wonderful person.

Thanks again! Thank you because you’re on the ground with us poor people crazy.

I look forward your new mail.

Have a great week and a thousand great future years

good

Thanks and regards.

Guido. Italy – 17 03 2012 – Gmt 11:44
Robert

HI Chris, Just want 2 say thank you, great stuff.
Everything u said makes sense. Less time spent on pc the better control u have of your Life!
Banjo

Fantastic content–great to have info put in front of us without some underlining ulterior motive and/or B-S

BANJO
Frank

It looks very promising. You have uttered many truths and I am interested to see what you have written. I will let you know what I think about it.
Regards
Frank
Frank

Hi Chris
Forex up to now has been my own slot machine where I can put money in and hopefully get money out of it. I sat glued to my computer screen for hours at a time, and traded like a zombi. It is like a drug. I realize now that I am an emotional short term trader with no proper planning up to now. Although I have a goal, I do not know how to achieve this goal. I have no planned strategy and hopefully will be able to put such strategy in place once I have gone through your book. Due to some irrational decisions, I have made good money but lost more. This will now stop. I know that I will. I can see the honesty in your writings and everyone can benefit from it. Today there are a lot of dishonest people and it is a battle to sort out the honest ones from the dishonest ones. I cannot wait for the rest of your book and other info to benefit us as new Forex traders. Thanks. It is really appreciated. Frank.
Frank

Hi Chris
You must be related to Bruce Lee. He is my hero because he strived for perfection. You have the same qualities in your books. I have also read your Candlesticks book and found it extremely good. I applaud you. Thanks. Frank.
Mr. Lukman

I am so so impressed by your write up. I keep enjoying each time I read it, though I have not started live trading but hope to start soon. I have being demo trading for the past two years and your principle has impacted my trading style positively immensely. What else can I say…thank you for the gift and more grease to your elbow as I continue to getting more of these from you.
God bless!
Nazeem

Thanks Chris for opening my eyes again
I have received the principle 1 message previously from other sources but did not listen because i believed i could make a success the trading the shorter time frames
I can relate 100% to this first principal of trading the longer time frames. I have been trying for months to trade the short time frames and blew more than 50% of my account, twice. All i got from it was a lot of stresfull screen time and emotional distress. There are periods where i have good success with a lot of effort but then i would wipe it out with one or two big losses. I am plannning to start trading the daily time frame a.s.a.p.
Ferry.D.M.

Hi Chris,

I’ve read the your Retail Trading Manifesto, Part 1 & 2. I’ve many times read the advantage of trading on the longer TF through other e-books or articles, but your explanation is really specific, to-the-point and excellent. I’m looking forward to having the next parts. Huge thanks and keep up the good work.
Henry

Hi Chris, good work. Well done. Please send the principles to my mail box. Thanks.
DELE

salient facts! i have burn up some accounts because of the ignorance of some of the facts revealed here. pls keep it up. regards.
David

Fantastic! I would be almost ending up as Mike ( but with huge loss ) if not having opportunity to read Principle #2. Now I think i am seeing light coming from the other end of the tunnel. Cheers to the begingning of bright new journey. Thanks.
ng

hi chris,
very good article why to trade medium and long term chart,keep on the good work.TQ
amio

Great article – absolutely true to my experience
Steve

a very honest outlook to forex and very true one too!! well done
Timo

Hey Chris, I ve always been enjoying your write ups but seems this will the beginning of an eye opener.
Please keep up the good work as you give not only fish but also teach how to catch fish.Kudos to you.
I am very sure that my God ,Jehovah will reward you abundantly.More grease to your elbow.
Gina

Good stuff. Can’t wait for the next 3 parts.

All the best

Gina
suharta

thank u very much for the FREE INFORMATION, IT WOULD HELP me a lot. thank you very much.
Archibald Sim

Good afternoon………….very good ………many thanks
Denis Byrne

I agree with everything that you have wrote,looking forward to reading pdf 3 4 5 .
Peter

This is very interesting. Long Term Trading. But, is it really possible on a micro account, to make any significant profit? I am looking forward to the rest of the principles. Thank you very much for taking the time to prepare these for us.
Nizam

Actually these are the some of the realities faced by us retail traders,and we need to think along these lines and implement this stuff you’re sharing with us.I think you make a lot of sense,keep up the good work .Good job thanks for sharing.
Boboy

Thank you Mike for sharing your experince and Idea in this manifesto it make sense to me.Looking forward for the rest of the manifesto.

Regards

Boboy
DARRELL

GREAT WORK. CLEAR AND ON TARGET. CONTINUE TO SHARE THE TRUTH.
Peter

Young turtles follow instinct down the beach into the ocean,e-waves wash over them,a few picked off by robotic sea-birds on the way,some get tangled in technical strands of seaweed,others picked off by professional schools of fish, a couple swim off into the big pool of anonymity to survive,learn and hopefully grow older and wiser.Ah! but as life would have it,”I” got snapped up and digested by a small shark just as I got near the reef,then excreted as fodder to the sea floor.
Thanks to the pattern of life,another chance,reborn for the umpteenth time,struggled out of the egg up,and out of the sand nest;got to hurry past the birds: remember to swim with the tide more enthusiastically not against the trend like last time and absorb that genetic experience of those who have gone through it all before.
Thanks for the encouragement!
- admin
  
  Peter… awesome analogy!
Ken

Thanks very much Chris for the invaluable insights
GILBERT

hello
woww thank you sir i did learn somenthing very valuable thanks a lot
zalina

..all your good notes sound familiar….went thru in the same mode like Mike…and blew my account 3x…but after started as medium term trader for the last 2 years…made 200% from investment with less stress and start enjoying trading…but on and off…there is always a greedy side of me that lead to the wanting a bigger pip event it is not logical…..
Frank

Still trying to download #4
edmundus

it’s good to have a lesson from you
bob

Still here 🙂
Edi Santosa

Thank, I will do it in my forex strategy
derrick

i have downloaded Principles 1-5.I have already paid my first monthly subscription.What is next to expect?How do I log in ?
- admin
  
  Hi Derrick,
  
  Please send us an email with your purchase receipt number and we’ll sort things out for you.
Choong

it make a lot of sense
balasubramanian

i am a day trader. my condition made me to trade daily and make 10 to 15 pips. i follow some method to trade but some times it doesnot work as you said. so tell me what i should do.
paul goon

Hi Chris

I read about Mike story and reminds me what I did the same.I got burn not just me also my account.I was devastated and upset why I cannot trade well.I took a break for awhile and resume trading again..this time not real account but demo to polish my skill.

I totally agreed with you the difference between the short term and long term traders.I choose to be more relax in my trade.

Need more guidance from your tutorials lessons #3 to #5 or #6 etc.

Tks
Crusoe

Very logical and going through the root cause of failures.Excellent!
Look forward to receiviung the rest.
grumpy

learning (and enjoying !! ) your approach. A lot to think about. Thanks
VINICIUS FRAGA

Hello Chriss!

You can send me the first three e-mail, I enjoyed your manifesto! Excellent stuff!

I am new to forex trading and you opened my eyes to this market. I’m curious to know the principles 3-5.
Gerald Nkosi

With this Manifesto Chris Lee’s

Now you open my eyes and you help me to improved my trading strategies

Thank you
fong

Hi Chris, please send me principal3-5. And thanks for your sharing, The info and how you describe it it’s good!
- Chris
  
  Hi Fong,
  
  You’ll be receiving the coming Principles in your email inbox. 🙂
anthony vitale

another interesting and valuable lesson ! Thanks .I don’t want another job … I want a path that affords confidance and time drvoted to family .
Marx

Great, thought provoking information so far.
Bhagirathpuri Goswami

This is real story of mine.We should not continuously sit before the computer as well as it is the nature of man that he can’t control upon his emotions, its true.
Andy

Thanks Chris for sharing, the priciples is spot on.
khor

Nice!
Lazarus

Well said. Straight forward. I am still waiting for the last 3 catalogues. 3-5.
Helmut Thoma

I don’t want to staring a long time in the screen,but i like to trade sometimes in all 3 market contitions,because the markets can move only in one of 3 ways.
trity

thank i like it .the way you wrote the fundamental.
please i need part 3 to 5… Exciting reading
very good…thank you
paul kirschke

the meat must be in 3-5..I like results ..bring it on..
Jeremy

Mate, you’re quite an intelligent buggar!
cj

Hi Chris, makes for interesting read. U certainly read me like a book. Ive been deleting all those get rich quick schemes and indicators that flood your in box. Ive just got your candlestick e-book. Now its time to get back to basics. Thanks for the information. ps Im glad i didnt delete you from my in box before i read it. chow.
- Chris
  
  Hi CJ,
  
  Glad to be of service.
  
  If it’s convenient, I’d like to hear about what you think of the e-book! 🙂
GEOFF TILLING

A breath of fresh air. Thank you.
Please send me the other remaining principles.
mitchell mednick

Hi Chris, thanks for the principles series, its very insightful and helpful. I`ve been studying the forex markets for three years now, learning as much as I can. Its very true that you don`t want to be chained to a computer screen all day as it is draining emotionally.

I`ve learned to combine Elliott wave and fibonacci analysis to help find good set ups in the forex and I guess you could say I`m a daily trend trader. I trade the london open and generally limit my trading to about 1.30pm and I`m done, win lose or draw.

I really am ready to trade the longer term time frames now, cos as you say in principle #1, thats where there are more pips, less stress and less spread costs. As of now I`ve not been good enough or able to get into these 2 to 3 day swing moves but would really like to.

Thanks, your concepts are really making me think of better ways to trade.
Richard

HI Chris,
Just received part 2 and yes you certainly make sense,my problem with trading 4hour timeframes is to watch the trade go against me for any for the shorter time frame corrections so hopefully the next part will assist with this problem,how long to wait and how to prevent major losses and become a winning trade in the end.
Many thanks for new direction
Richard (South Africa)
Richard

Hi Chris,
Last comment was the problem with the larger stop loss on the longer time frame and read on your blog about using smaller amount to trade the fear and emotion was removed for now looking forward to principle #3 many thanks in advance
Richard (South Africa)
jayprakash

dear criss sir,
i have read your lesson and also eigour to see the next
very nice guidence we get in this.
thanking you
Cesar Ruiz

Chris, Once again, thank you for these principles. The fundamental and technical parts are clear on my plan, but these principals are what I was looking for. This is the first time in two years I find someone with an open mind to tell the truth.
Cesar Ruiz

Chris,
I want to confess something. I started trading two years ago. After 1 month of working 1 Day Timeframe on Demos, I became millionaire. I went to real account $1,000 and made 10,000 in 4 monts. Everybody knows what happend after that. Yes, I went to 5 and 15 minutes. Everybody knows the results!!. I ´ve working all the timeframes, diferent strategists but the results are not consistant. Three monts ago, I went back to demos. Since then I am developing my plan wiht the first principle, 4H. I will follow the second and the others to complete my business plan.
Please take Robert´s words as mine to say thank you.
jose

gRACIAS, INTESANTE.
Mario Rodriguez

Hi Chris, Which time frame do you recomend to trade with ?

When you said longer time frame, what do you mean ? 1 Hour, 4 hours, Daily, Weekly ???
- Chris
  
  Hi Mario,
  
  I personally trade on the 4 hour and daily charts.
DLD

Great content lookong forward to the rest of the Manifesto Regards DLD
andres

very interesting ideas
ashok

Good technical writing all this reading can make one emotionally ready to face the market, with the right attitude, anyhow that is only half way through I am eagerly waiting for the next lesson
zelks

makes a lot of sense , please send me principle 3 Thank you
buck

consistant income plan to goal
easy to use with low time commitment
James Gregory

pretty damn good stuff enjoyed reading it but its the truth very well explained
Tom Smyth

The imformation you describe in this manual is right on…. thanks for opening my eyes to the things I knew but kept putting off….. I think that untill one goes through the experance of what you discribe can one apercate the truth to what you are saying… thanks again…

Looking forward to the next instalmemt… chers
Juan

Very inspiring material. Some people have this ideas and knowledge in the back of their minds but they don’t aply it. It is only when you read it that it becomes more clear and then you become conscious of the princioles and ideas presented here.
mike

very good advice indeed. I was never successful at intraday trading and now I know why! Longer term trading for me from now on – it all makes so much more sense.
DEUDON Guy

Hello
The most important point is ‘the computer should work for us but not vice versa’, “the term course reduces your health by immobility”
Guy (France)
CARLO

ALL TRUE, HELPFULL, PRACTIC, DIRECT TO THE OBJETIVE….
THANKS A LOT
BEST REGARDS
CARLO
conrad

a short term junky who used to trade long time frames gann style.
keep going its getting interesting
Tibor

very good information. Thank you so much to let us have it…it’s a real eye-opener
brian

Thanks Chris hopefully changing timeframes for me will be a change for the better
Douglas Lang

If your intent is to scalp and double your account in as short as every two months then your goal should be to retire in a year and not watch your computer for year after year. If indeed your scalping has gotten that good when you add the power of compounding to the equation you would have well over $10 million in a year or two. Consistency and the ability to trade the same way regardless of whether you are trading one lot or 100 lots is the key. Their aren’t many people I think that can block out the fact that even though you are trading the exact same method.
DR. SAM. LAYEFA

Your write-ups are excellent for the searching mind that wants to prosper in fx.
DR. SAM. LAYEFA

Great work Mr. Chris, expecting principle N3
Gerry

MAYBE DAY TRADING IS NOT FOR ME ANYMORE!!
Charles Boomer

It’s all very relevant points you make in your manifesto. I see myself going down some of the paths that you talk about. Hopefully I’ll get the wakeup call before it’s to late.
Very good and very important stuff Chris. Loved it.
Roger

Your observations are very true but I would add if you can view the market in forex as always been there, then you can plug in and scalp and then turn of after a few hours, I am lucky to be in the UK so can chose an early start or a lie in and trade the us open in the afternoon. I think my Epiphany was in realizing the market will be there tomorrow and the day after. Plus you can do both scalping and swing trading
margaret

thanks Chris
This is so basic but so profound,
thanks again
keep the insights coming
Andy

So far so good
Jeff

Good insights, Chris. I can definitely identify with the statement you made about enjoying watching the market move. That’s fun for awhile but when you see it moving against you more often than for you it tends to lose its luster. That’s when you tend to turn into a gambler trying to recoup what you’ve lost and you know what soon follows. BOOM! I don’t do that anymore. I look for what appears to be good medium term setups, set a stop loss at a level that it’s highly unlikely to be hit and walk away. It makes life much more enjoyable.
eza

THANKS A LOT CHRIS
Edmund

I guess Mike was also on the learning curve. Its part of what we see in life. We are all never going to be of same targets, dreams, strength, patience, etc. How would you describe Warren Buffet’s aspirations in the context of this experience? What would be his long term target?
Surely it is a great concept to ‘know what I want and adjust my methods according to those standards.’ The principle will be applied. Thanks for the lesson.
Edmund
Elton

Hi Chris

Looking forward to the next parts of the RFM.
Very helpful .Cant wait to receive the full 5 steps of RFM.

Best Regards

Elton
sean bensberg

fantastic, really want to be a consistently profitable trader, thought sitting infront of screen would be the answer, never really thought about it, thanks
Zam

Agree with you.
Uttam

I gone thr’ part 2.Very excellent article to novice.Plz email the details reg training.
philip

Wow,what an eye opener,please am looking forward to the other remaining parts,thanks.
francisco

im also looking for scalps on demo account, sometimes successful often times not. thanks for the info.i’ll wait for your next email, big thanks.
fery

wow, I like it…thanks a lot…
Masing

Thanks, learnt more and more every moments thereafter ur manifesto presentation
John

Now I’m hungry! I know what kind of trader I want to be! I don’t want to be married to it! I want to make enough money to live comfortably.
Anwar Shaikpalur

Hi Chris.

you have touched a down to earth fact that staring 5 minute chart is going to drain the energy from anyone.The only remedy it seems is medium to long term price action swings.Again the question arises that as a small player how to survive the choppy price action swings with smaller margins and emotional balance to face huge stop outs. I am with a hope to get an practical solution from you.

Thanks & Regards.

Anwar Shaikpalur..
FELIX

Its great waiting for the other
Robert Vamplew

Hello Chris,

Thank you, invaluable as ever, I look forward to receiving the next part. I review your Candlestick e-book regularly, some of it is now starting to show in my appreciation of chart analysis. I have also moved up to the 480 and daily charts for trading.
- Chris
  
  Hi Robert,
  
  Good to hear you are doing well with your trading.
Keith Kendrick

Very interesting, food for thought. I am trading a demo account at the moment, trying different strategies on different time frames, looking to learn as much as possible without trying to over complicate anything. In the beginning I threw curved balls at myself doing everything they told me I should not do as a trader, boy did that teach me a lot, I quickly saw how to loose money fast, a very valuable lesson. I also learnt one of the most important things and that is to become comfortable in your trading, to use your emotion to your advantage as opposed to letting it be a disadvantage.
Keep the advise coming, I try to read as much as possible, If I learn one new thing each day eventually I will know quite a bit.
Regards
Tezcan Cirakoglu

I bet on principal #2. Really really try to trade for longer periods. Daytrading kills you. Work on minimum 4 Hour charts. İ prefer daily and weekly. To see the big picture, monthly charts help. Good work Chris. Keep telling the truth always.
Lance

Excellent topic and insight. I can’t wait to read more!
Robert

Thanks again Chris. Thanks for your great insight. I do want to trade in the long run and not get burned out. I love to trade and want to feel confident with the 4hr and Daily Charts. Thanks again for sharing your experience.
JM

Chris, God stuff. Are you related to the Great one Bruce Lee?JM
Rankin

I am impressed the most of the stuff is happening with me all the time
- Chris
  
  Hi Rankin,
  
  I find that this is actually happening to many people!
Bob

Nice article Chris. However, there appears to be a massive amount of newbie traders on this site who are getting very excited about longer term trading.

Whilst I agree that the big bucks are made on day or longer time frames, it might be a good idea to remind all these people that a much larger stop loss is required to trade the longer time frames, which could easily exceed the percentage of capital that they should be risking.

Unless this is controlled in some way they could be wiped out very quickly with the inevitable short string of losses, or alternatively keep using the same small stops and then get stopped out every day.

I have been trading (and spending my profits) for more than 13 years now and I guess I have tried almost every system and time scale out there at some time. I am bored silly with it all, but still need the income !!!

I like your honest and straightforward approach, as against the myriad of con-artists out there.
- Chris
  
  Hi Bob,
  
  Thanks for the comment.
  
  Check out this blog post. –> I think this will answer your concern.
ganesh

thank you for sharing yr experience with Mr Mike.for long and medium term trade we need
correct method of srategy
Dario

I’ve already had experience with the effects of emotions in short term trading. Fortunately, I was in Demo.
Thank you, Chris
Lourens

I know for a fact that longer term trading is the only way, thanks for confirming it,Chris
Nestor

Very informative, well explained, an eye opener for newbies like me. Thanks Chris for sharing your thoughts and experiences. Looking forward for the next principles.
Wolf Wong

Nicely written. I hope to learn more from your trading style. Btw, I had invested in your ebook. Cannot wait to read it…cheers
- Chris
  
  Hi Wolf,
  
  Thanks for the support!
Steve

Thanks Chris, I enjoyed reading principles #1 and #2, and I’m looking forward to receiving the rest of them from you. Very interesting reading about Mike’s “burn out” story. Steve
paul

Chris,Tell me. What do you think about the 1hr time frame?
- Chris
  
  Hi Paul,
  
  The 1 hour time frame tends to be a little bit choppy, but I do refer to it from time to time.
b

Thank you Chris…
Nath Phillips

thank you am getting the sense
Mark

Hi Chris this is exactly what I have been doing ,spending hours in front of charts(5 mins) start off great , stay on too long then make emotional trades & wipe out my profits . Can’t wait for principle 3 thank you
Patti

I found the concept of time to be very insightful and something that I myself would most likely focus on in the future of my pursued trading career. I too, do not like sitting in front of the computer for hours on end. The whole idea is to be able to set up a trade with stops and exits and walk away.
Checking the computer once a day just to see where the trade is and if any adjustments need to be made is enough for me. Now I think with this advice a plan is in the making…thanks for the article.
Prasad Konduri

Chris, simply superb and eye opening especially for scalpers. I am very much delighted and meticulously going through the highly valued content which is priceless for those who want to trade forex full time and for long term benefits. I thank you for your great help to the brothers and sisters of this great forex world community. May God Bless You and Your Family for this great service.
Mike

So true – I’ve been trying for two years now, just like your pal Mike – but not as successfully – keep talking to me !!!
Idowu Gbemiga Albert

Hi, I want to thank you for your selfless attitude to educate someone like me, thanks a lot.God bless you.
Maek Wiegand

I have experienced this my self but I still trade demo I will go live when I know I have trueley learned to tarde
Rehua

Great information again…haven’t looked at a long term plan, I now value the principles
kevin

Interesting, the want to scalp many times & get out of the market ASAP, as you say just means you’re chart watching all day instead. To make it long term I can see the benefits of not spending too much time in front of charts.
Douglas

Actually a very thought provoking concept. I never thought about trading in this way.
ric

Chris you have opened my eyes thanks
manish

super info