Topic: FXB Blog - Forex Articles
Why Less is More in Forex Trading
Less is definitely more when it comes to trading the world’s markets – it really is crucial! To hammer this point home, we’ll look at 3 key points: market dynamics, price action and how not to react to every market fluctuation.
1. Don’t go against the trend
Reacting to each and every market movement is pointless. Make the trend your friend by not going against it with every time market fluctuation
2. Be patient with your trades
The next key point is actually a fact, and it’s that losing money SUCKS
The best way to NOT lose your money is by being patient with your trades. Once you enter the market, let the trade play for you. You cannot trade all those little movements in the market because all they are going to do is make you lose your money in the end.
3. The long-term dictates the short-term
The last thing you need to remember is that the long-term dictates the short-term. the long-term trend dictates the short-term fluctuations. Most traders try to trade every single movement in the market, simply because they are overconfident about their abilities and they think that they can trade every single counter-trade retracement, but sadly, they are likely to lose money.
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