The different ways that the market treats the many types of forex traders - forex trading singapore demo account

The different ways that the market treats the many types of forex traders ~ forex trading singapore demo account

A child plays with fire without the fear of getting burnt. It is only after realizing how hot the fire is that the play stops. As a forex trader you should not be playing with the markets without understanding the degree of its heat. Attempting to do that is like a bird attempting to fly so close to the sun just to see what becomes of it. Its feathers will be burnt out and it will roll down like a stone. Forex trading by and large is about analyzing beforehand the consequences of a trade you intend to execute.

Face the markets with a sense of consequence. The possibility that you will lose everything if you are not careful is never remote. Being careful in this case does not mean sitting on that plastic chair watching your monitor and how the trade works out. As traders the market is a fire that we must interact with. We do not enjoy the luxury of the child who could be confined to a place without fire and grow up without any scars. The only advantage is that in the forex sphere the nature of the burns we suffer can be limited through our habits as traders.

Some forex traders suffer death occasioning burns. These are deadly burns caused about by an account that is wiped out through a single mistake on a single trade. Such traders never recover from their burns and the end result is normally a painful death with blame directed at the forex broker. There are signs that your account is about to suffer such death causing burns-you do not trade your set up which basically translates to you overtrading or probably guessing market directions; or you do not use protective measures such as the trailing stop or the stop loss.

There are some forex traders that suffer mild burns in their accounts. These are the traders who even though they employ their strategies and trade their set ups, they still constantly sabotage the whole trade by using unrealistic stops so that they are constantly locked out of a trade very early in the day and never enjoy the benefits of a long move. Such forex traders are also constantly in doubt about the efficacy of their trade set ups and often enter the trade when the move is almost reversing around. The fear of pressing the enter button holds them captive and by the time of their release the good trade has already left their precinct. The problem with this group is that a series of profits is easily wiped out by a series of losses so that their trading life is always stagnant. Such forex traders accounts tend to suffer a slow but painful death.

Then there are those forex traders who suffer less threatening burns. These are traders who have mastered the markets and know the when, where and how of the market. They have unearthed the beauty of waiting for the right time and always keep to a particular pre determined risk. When they get burnt by the market, the consequence is never dire and within a week or two they are back to their feet and trading for profits once again. You may think that as traders they have a dozen lives but the truth is that these traders have only one life. What keeps them going is simple; they have developed a sixth sense that alerts them of the possibility of being check mated long before they press the enter button for any trade. They understand the consequence and therefore trade carefully. 
If you belong to that first category I may as well spell your destiny as a forex trader; you will end up mourning for your lost capital and wishing you had never interacted with the markets. If you fall in the second category, learn to eradicate self doubt and emotion from yourself. Mastering the markets without mastering yourself is equal to making one step forward and two steps back. Rejoice and be exceedingly glad if you belong to the third category; the forex sphere will be the sweet water well in a desert that never runs dry. The greatest part of all these is that you can choose where to belong.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

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