If you're not treating your trades as a business you're just playing in the market and not serious about it. Get it together and begin to work the market for greater benefit. Building and operating your FOREX Tactics as your business forces you to trade with a strategy. Your FOREX strategy reduces greatly the feer and greed that can sometimes creep into your trades (it does on me sometime). The discipline required to trade a plan that has been back tested on your FOREX historical and quantifiable information provides the control needed to succeed. Treat you FOREX account as a small business, trade it as a trend trading strategy, swing trades, scalps or utilize a low risk FOREX tactics and make it your job to interpret the FOREX Market and implement your strategy as essentially your only job.
Since your "JOB" is to make money, using a sound FOREX Strategy and developing the discipline to make money leaves you with the intent of your focus to compound your earnings and reduce greatly the impact of a draw down. That may mean developing strategies that will hedge your trades with a different currency. Because of the new US Laws regarding hedging, you can no longer go long and short in the same currency at the same time, that leaves essentially the only alternative as utilizing another currency to fill that need. To do that you need to do your research and have your plan in place or you'll get hit with a major draw down with a series of losses as you try to learn this strategy while live in the market.
Build a business, not a game, get your FX Strategy in place, learn it well, then trade it over and over again. Your significant other will appreciate your financial genius and you'll have the great sense of providing well for your family. It takes time and dedication to get through the rough times, believe me, it's worth it.
Happy trading, be sure to use good money management, enjoy.
No comments:
Post a Comment