Why Being a Sharpshooter in the Forex Market?
The forex market offers the opportunity to its products being traded followed five days of the week and 24 hours a day. Who does not have time to operate during the day you can open a purchase order or sales overnight, or even in the early hours of the day to get up early to go to your precious job. This really is an advantage for those who consider that there is no time available to plan an operation.
The Myth of the Day Trader
However, this full availability of the forex market can have serious consequences for traders who do not have a good psychological control. DayTrading do with the ability to operate multiple times in one day, and the better the chance of profit in each of these operations will let the investor salivating for probable profits in the market.
However, this does not exist or at best, is only a myth. Everyone has heard of someone who swears profit making several operations in one day. Operate several times over a short period of time, in fact, behind serious consequences to the trader. Among them, I consider that the lack of peace is the strongest. And the appearance of this feeling ends up creating other feelings destroyers. It is the famous domino effect.
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Let's see. The trader opens your trading screen through the 5-minute chart. He begins to analyze various currency pairs in search of the best Setup Price Action. He finds a convincing and decides to open a posição.Porém, it turns out to be a loser. He then decides to take revenge of the market and opens another position. This time overloaded destroyers feelings, with little effect, and the result, again, is negative.
The time elapses and in less than an hour our friend has opened seven positions. Analyzing your trades, we realized that the most reasonable position he opened was the first because the other following served to foster feelings of anger, revenge, depression, etc.
In the military there is a professional we should reflect on: the sniper. A type of soldier trained to kill with only one shot. He is lying with his eye firmly placed in the crosshairs, control your breathing and not waste time with useless victims of being eliminated or that they do expose. If this happens, it will also be deleted. The sniper, in extreme cases, gets to be hours or even days in the same position. All this waiting for the best time to do another victim.
Trader which Shoots for All Side
trader forexAo opposed this soldier, the vast majority of traders want to be a soldier with a machine gun in front of the battle. He sees a group of enemies in front and already out shooting all over the place, leaning against the mere possibility that some of those shots hit one or a few enemies. However, their exposure is higher and their chance of survival is much lower.
In the forex market can not behave that way. We must seek quality in trades and not quantity. Operate with patience, seeking the best Setups, through the signs of the Price Action at the trading points, making the proper risk controls and money. If the market does not show a possibility that moment, we wait another, either in an hour or a few days. The ideal is to do at this point is to turn off the computer screen, leave it in standby mode try to do something different. Hiking, reading, good coffee (love). In short, is in charge of your creativity.
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