Why it is extremely important for forex traders to adopt and stick to a single forex trading strategy as long as it has a great win loss ratio ~ best forex trading demo account
Good forex, stock or even binary options trading strategies are complementary to what a forex trader already knows. There is no forex trading strategy that can white wash what a forex trader has been making money with whether it falls under technical or fundamental market analysis. No forex indicator can work independently without incorporating the important aspects of price action. They are all complementary and normally the simplest forex indicators tend to be the most important in increasing the efficacy of a set up.
It is indeed a sign of forex trading immaturity to discard a trading strategy the moment you come across something new. It denotes lack of belief in what a forex trader already knows and practices and betrays the the forex beginners constant search for the elusive forex trading Holy Grail strategy. An alien from planet Jupiter whispered to me in my dreams that in their side of the world there is a forex trading Holy Grail strategy. If you are the super forex researcher with the means to reach there you should probably go check. But I doubt. So accept that there is just no such thing as a forex Holy Grail trading system or strategy and aim at improving what you already have.
As a devoted forex trader, once I discover something knew I normally ask myself how it improves what I already know about the forex markets. If the aim of my new discovery is to lead me into taking numerous forex trades or add more noise into my trading life, I discard it. That is just my forex trading principle.
Master what you already know about the forex market. Discover its weaknesses and strengths. The weakness of your forex trading strategy could be that it provides you an entry with a wide risk but its strength could be that once the entry set up is present it runs for very many rewarding pips. That weakness can simply be corrected through position sizing. To discard such a strategy for some forex indicator or some other alien forex trading system amounts to screwing yourself. Forex indicators are probably the things that need to be complemented more than anything else. In my years of interaction with the markets I am yet to come across an indicator that works without the support of either another indicator or price action set ups. Hit my contact form if you have come across such an indicator.
As an aspiring forex trader your goal should be to use new information to better what you already are. As a forex trader that spends countless hours reading and researching about the markets, I must admit that there is lots of new stuff that I learn about forex trading every single day. Some are worthwhile stuff while the rest are total nonsense. The moment the new information i have come across looks to be below my forex trading principle threshold, I ignore it.
This is just to urge you that as a forex trader aiming for success you should stick with what you already know. As long as it works most of the time, it is worth living with. If you keep on discarding a forex trading strategy just because you have come across a new one you will never learn or make money trading the markets. The sad thing is that forex traders mostly adopt and discard forex strategies while already running a real forex trading account. This is because they falsely expect that the forex strategy they have will work in an instant and double up their money. And when their false expectations are dashed they go on a forex strategy hunting spree. Problem is that the efficacy of the new thing they come across is tested with real money.
Experienced forex traders understand that it is not in the nature of the markets to reward us instantly. Forex traders must therefore always wait for a couple of hours or days before what they are using can either work out or fail. The most important forex trading strategy is the one that tells us that the trade has failed or is about to fail. Not the one that promises a forex trader a thousand or more pips in an instant. Once the system you are using can tell you that you are wrong about a particular trade, you are set on the path of forex trading success. This is because in forex, what tells you when you are wrong helps you in the most important aspect of money management. You don’t stick with a losing trade in the false hope of a turn around. Instead you cut your loses and walk away to wait for another forex trading round. Does the new forex trading system you have just come across help you in this regard? If not do not entertain the thought of using it.
The import of this small piece is to remind every forex trader of the necessity to stick to what they already have- that is as long as it is working most of the time. And just incase a forex trader comes across something new he should first of all make a personal inquiry as to how the new forex trading strategy helps to improve what he already has in his forex trading arsenal. Avoid love at first sight with forex trading indicators or forex trading systems that you come across while operating a live account. Once you have a live forex trading account you are already in some sort of marriage. To stray is to sin against your trading system.
You can read the following articles to gain more insight into a forex trading that I use together with price action.
How I trade using the VSA Indicator
How price action traders can benefit from the VSA Indicator
Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. This is a regulated broker and payouts are as high as 85%.
You can read the following articles to gain more insight into a forex trading that I use together with price action.
How I trade using the VSA Indicator
How price action traders can benefit from the VSA Indicator
Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. This is a regulated broker and payouts are as high as 85%.
More info for Why it is extremely important for forex traders to adopt and stick to a single forex trading strategy as long as it has a great win loss ratio ~ best forex trading demo account:
0 komentar:
Posting Komentar