A week ago, I wrote a letter to a friend about his trading.

I told him it was time to get his s*** together.

Dear Horatio:

You wrote to me and said:

My gains for the month are gone. I need a deeper understanding of the Forex Market.  Much  deeper.

Negative. You do not need a deeper understanding of the forex market. You need a deeper understanding of yourself. And then you need to start doing what you promised me that you would do: you need to close down your accounts with a lot of money in them, and just keep open one small account with just, like, $1,500 in it. Did you do that yet?

Here is what is going to happen if you do not get your s*** together: you are going to lose the rest of your trading capital. It will all be gone very soon.

A deeper understanding of the market is the last thing that matters right now. It might matter later. But right now, you need a deeper understanding of the Third Law of Forex Trading:

If you look externally for a trading strategy, you will never find what you are looking for.

What are the first and second laws? We can cover those another time.

Then you wrote:

I also need to get hold of my attitude of always having to win at everything. I am a workaholic; if I don't trade, then I don't feel like I am working.

Well, then, Horatio, get hold of yourself! Get your s*** together, man! I am here for you, but you gotta stop ...