To get in touch with other Forex Traders, please join our FB Group: https://www.facebook.com/groups/FXFlight/
To know about other possibilities with Forex Trading, please LIKE my FB Page: https://www.facebook.com/LearnForexQuickly/
This month marks my 14 years and 5 months as a forex trader. The first decade is almost like a schooling period with failing grades :). Once you discover your very own strategy, your account history will be your School Transcript and Diploma. The proof that you made it. Well, you don't have to show and brag it to everybody. It is just something that is fulfilling to see even if you are the only one who sees it.
There are many ways to be successful on Forex trading. Finding one that fits to your psychology and mindset is usually the most difficult part. The good strategy of one successful trader may not be good for you. You may have a different behavior on handling pressure, greed, and fear compare to the other traders.
So how can you find the trading strategy that is right for you? Here are some tips on this...
1) Do not give up - This usually applies to all traders. I will tell you this - If you don't like Forex trading and you are doing it just for the money, you won't make it. You should be fond of the thought of doing it every moment of the day. (But it doesn't mean that you have to do it every moment of the day hehe). In short, you have to love what you are doing, because if you don't it will be very hard. Forex success is a journey and not a one point destination. There will be huge struggles along the way. Most of the people beside you will think that you are insane for pursuing it and will tell you that it is not possible so you've got to stop it. But if you love it, you will be tough enough to survive.
2) Tough trial-and-error mindset - If you tested a method and it didn't work, it doesn't mean it won't work. That's one of the best lessons I have learned after a decade of continuous learning the Forex industry. Every method and EA strategies I developed and have tested before that failed, I set them aside for awhile. Once in a while I go back to try them again with a few tweaks. You won't believe it but the best performing Forex robot that I have right now is a combination of trading plans that I've had five years, 2 years, and a year ago.A combination of the 6-Forex-Trading-Secrets, Price Trap Strategy, etc.
You also have to be prepared for a lot of thousand times trials and errors.This is true. I've got to go through to all this failures before coming up for the best strategies I have today. Literally, more than 10,000 times of failures and program bugs before coming with my best performing Forex robot.
3) Do not limit the use of indicators on what the experts are saying about it. - You can use all indicators in any way that you can think of. Some tricks can be look crazy at first but sometimes the crazy approach is the one that you are looking for to improve your strategy; so do not underestimate any indicator, and do not reject any idea that comes into your mind. Test them all.
There are also other tips and tricks that you can learn to come up with the best strategy that fits for you. These 3 are just what I have in mind right now. :)
No comments:
Post a Comment