I thought that if I found a right indicator, or right strategy or system I would be making money consistently. I tried everything: free and paid strategies, systems, indicators, signal services. Nothing helped me. Slowly but surely it came to me that problem was not in systems or indicators. Problem was in me. I started working on my belief system. And as a result I stopped loosing money. The next step was my account started to grow consistently.
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Forex market is becoming more and more popular lately. Many advertisers and brokers are trying to seduce you to join them to trade currencies promising quick money with little effort. Once a person seduced and finds outs how hard it is actually to trade currencies profitably he either gives up or starts looking for information and training courses. So do your analysis as best as you can. Define the entry points. Define the stop loss and take profit levels. Calculate the position size and risk. Once the price comes to the entry point, execute the trade. Then leave it to mature. Go do something else. Come back after some time to see the results of your trade. This approach will save you time and psychological energy. In order to successfully trade in Forex and make money we should learn to focus on current moment. It may sound counter-intuitive but we do not need to try to predict currency movement and forecast it. So many people fail in trading Forex. But you don’t have to. Some people ask me if there any rules to become a successful trader. When I think about my trading I clearly see 20 rules that if followed can make you consistently profitable trader. Some of them you probably know. The only thing is left is to implement them in your trading. |
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