How many people do you know that lost money in the dot com bubble? How about the real estate and credit bom and burst?

Maybe you lost money in these markets as well.

My question is simple; why did people lose money in these markets when the growth was so enourmous?

The answer; markets don’t go up forever. Of course when times are good it is easy to get sucked into the false hype that markets go on forever.

The Market Is An Outsiders Game

You always hear talk about how it’s the Wall Street Insiders that are making all of the money.

And while it all looks flashy and nice on the outside it’s really nothing more than a house of cards. We clearly saw the evidence of this during the market crash of 2008.

You see most insiders are nothing more than licensed con men whose fast and loose life style begins with a bang and ends with a thud. Most insiders are nothing more than liars and cheats.

Which would you rather be…the House or the Gambler?

I think the answer is pretty obvious but just so that you get the idea, last year the U.S. Gaming Industry profited to the tune of about $85 billion.

On the other hand the average gambler loses about $800 in Las Vegas over a four day stay. So, once again which would you rather be?

When I first started out trading I was a mortgage broker. I got interested in trading because I saw how the bond market affected the interest rates. I learned how to determine whether or not interest rates would be going up or down.

This gave me a significant edge over my competitors and it made me a lot of money that I would not have otherwise made.

As a professional trader I have had the opportunity to rub elbows with a lot of successful traders over the years. I always pick their brain and ask them questions like, “What are the Key’s to a successful trading system?”

Of course, I have received many different answers over the years and I have come to my own conclusions.

I have developed my list: “Nine Essential Keys Every Successful Trading System Must Have”. I have put that list together for you below. If you are trading a system right now and it is missing just one of these keys, then for the sake of your account, please stop. It is ultimately doomed to fail.

Welcome to the first of many lessons in the Advent Forex Newsletter If you are new to the forex market then you are going to get some serious emmersion through these lessons.

If you aren’t new don’t worry, I have some powerful advanced stuff for you as well. One of the most powerful compnents of the Advent Forex Newsletter is the video updates that I do on a regular basis, so be on the lookout for those.

I am qualified to talk about this subject because I have traded using both fundamental and technical analysis.

So which one is better?

First let me share what these two types of analysis are.

Fundamentals, try to predict a currencies future price by supply, demand, interest rates, government policy, weather, underlying economic factors, etc. In part it does work if you are an economist and very, very good at it, but it will never generate the types of profits that technical analysis can.

That’s right…only 5% of traders that start out make it past their second year. Does that shock you?

It actually shouldn’t and here is the reason why: Only 5% of traders really treat this like a business. The other 95% treat it like a hobby.

Some of the smartest people in the world fail in this business. That includes, doctors, lawyers, engineers, CPA’s and CEO’s. Many professionals prepare for their career by going to college for four, six , or even ten years. Then they get a job and begin to learn the ropes from other seasoned professionals, and it may take years of experience before they make it to the top in their field.

I get asked this question all of the time by new protegees: “How much is too much risk”?

My answer: There really isn’t a simple answer to that question. You see risk involves what I like to call heat. Heat is defined by the point that your literally begin to perspire. A lot of times that is what pressure does.

Heat will make you do some crazy things. For instance have you ever burned your hand on a hot stove or pan? If so you know what I am talking about.

First you start talking different. You might say a few words that you wouldn’t say under normal circumstances.