Best Strategies for Becoming a Top Forex Trader
By Content-mgr - on September 7, 2016The Wise Forex Trader Does Not Believe in An Ideal World
The wise forex trader knows that the world is not perfect. Neither are the various market analysis methods, all of them are expected to surprise at some point.
The Wise Forex Trader Expects Trades to Go Wrong
The wise forex trader expects their trades to go wrong, most of the time. And they start to worry when all indicators agree with one another and they seem to work in harmony. People pursuing perfection and perfect sense in forex trading end up finding out that the markets are not perfect. They simply cannot be modeled and predicted in any perfect way. Online forex trading is governed by rules of uncertainty and risk. There are no absolute objectives to accomplice, because the market does not allow for such naive trading strategies. And yet, this is what most people would expect to achieve in the markets. Because in some other aspects of their lives they have a lot of control and can make some perfect predictions. The markets are not like that, and it is naive to even think that someone out there has all the answers. As if the markets are run by some secret code that it is possible to crack. The humble forex trader knows that the world is not perfect, and neither are the markets they trade. So indicators and methods of analysis will be somewhat messy at all times. That’s why forex trading is so tricky and difficult. And all this inherent risk is what makes the markets work.
How the Wise Forex Trader Trades
The wise forex trader maintains flexibility in their trading account. Therefore all trading strategies used must offer flexibility. CFD trading accounts offer the infrastructure needed to implement such flexible trading strategies, the rest of the work is up to the trader. The best strategies for success offer all this flexibility. And as a result, the complexity of the markets cannot put them out of balance and into unsustainable losing streaks. Whereas rigid, well defined strategies either fail to engage the markets long enough, due to small size stop loss orders. Or they are whacked out of balance by the markets, to the point where losses are not sustainable.
Best Strategies for Success
One can trade forex profitably by employing large size stop loss orders. Notional stops in the time domain, and hedging tricks for limiting some of the losses on the trades gone wrong. And not surprisingly, after doing basic research traders will find that they are better off using high risk-reward ratios. Ratios that forex educators usually do not approve. By working upon these principles alone traders can achieve greater flexibility and absorb the shocks on their accounts, induced by the forex market.
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