Finding the Best Forex Trading Strategy

Finding the best forex trading strategy involves a lot of curiosity, a long learning curve, and nerves of steel. Quitters cannot take all that, and lose hope.

Commitment to Fulfilling the Task is Essential for Developing the Best Forex Trading Strategy

Foreign currency trading is so complicated, that most new traders tend to quit trading altogether after their first few failures. Not realizing what they are up against, and often not being in touch with reality. These traders end up coming close to but not actually finding the best forex trading strategy. The problems are many and diverse, but it all boils down to lack of determination and access to ordinary 9 to 5 jobs. Married men for example are always advised against taking risks in life, by their wives. So many new trading who were on the learning curve, end up quitting trading once they get married. Currency trading is risky at all times, even when it is very profitable it still carries some risk, and this flies in the face of having a stable, routine family life. Especially when one trades at considerable size. Despite this, there are some strongly family oriented people who are also very good forex traders. Getting through the long and often painful learning curve is the ultimate test for all traders. And success doesn’t come right away. As a trader learns efficient trading techniques, all that happens is that they are able to become marginally profitable at first. This is usually where traders make money trading but also give back much of the gains. Losing back 60% or 70% of the trading gains, is a strongly disappointing feeling, even more perhaps than pure losing trades. Because the trader has the feeling of having got too close but not being there just yet. And losing trades never quite go away, even when extremely profitable trading is achieved, traders still have losing trades. It’s just that the percentages have reversed by far, and they only lose back 20% or 30% of their total profits.

The Signs of the Best Forex Trading Strategy

The signs of having found the best forex trading strategy are confidence, feeling comfortable with losing trades and optimistic. Above all, the trader who is on solid profitable footing, knows that they can steadily recover all losses. That feeling alone, of knowing that you can recover previous losses, in whatever trading conditions, is what keeps traders determined, and fear is under full control. Trading forex for making a living requires having a positive attitude towards achieving goals, and being kind of a curious, single minded person. Very often, family and friends will advice against taking risks and achieving goals, but their reasoning is based on average statistical facts about other people. And there is a chance that they could be wrong this time on advising someone else. Because some people think in different, original ways, without repeating the mistakes others made in the past. This is very true in business start ups too, not just forex. Many new businesses were seen as failures in their early stages, only to prove critics completely wrong later on. It’s the same with the pursuit of the best forex trading strategy, outside critics are oblivious to the real facts.