The market will be always there tomorrow
If you observe the trading style of other people, you will notice one common thing? Can you tell us what that common thing is? It is not the mistake because it is very common and it is a way of learning. If you are not doing mistakes it will only mean that you are not doing anything. The basic of Forex is learned through trial and error and mistake is expected to happen. The common thing that we want to talk about in this article is their hurry. They behave and place trades as if the industry is going to end tomorrow.
We know many false bluffs came out in the early years that the world is coming to end. It seems the predictions were wrong and we are still living and trading. It is hard to explain the behavior of people but whenever people focus on their trades, they become too serious and they get lost in the trading. The result is they place their trades like crazy people and lost all of their money. They do not know how to take some rest and again place the trades. This article will try to explain this behavior and tell you why this market will never extinct. It was there a hundred years ago and it will still be here. The only thing that is not certain is you, the traders will come and go but not the Forex.
You are the one who might not have the money to trade. This simple concept is not getting into the mind of the new Singaporean traders. They are always trying to place trade thinking this is the best trade they can ever take. Unless you can get yourself out from such paradox, you are not going to achieve your success. So train your mind and be a conservative trader in the Forex market.
The biggest industry will always be there
You may go extinct but Forex will not. It is the universal truth and accepts it. Thinking of the dinosaur and how they have banished? Fear not because it is protected by many authorities all over the world. As a Forex trader, you should always analyze the daily time frame data in your trading platform. You might be scalper yet it’s highly recommended to have a clear overview of the long-term trend. This simple practice will help you to execute a trade in favor of the market trend. You have to understand the simple concept of trend trading strategy. Play smart to survive in the biggest industry.
The winners never believe in luck
From our trading experience and years of time, we have noticed that the winners do it the most. Whenever they win some trades, they get a belief that they are having a good luck. It will soon run out and you need to place as much trades as possible within this time. It is like playing a game and you are having a good luck charm. Every try you make becomes successful and you kept taking on bigger risks until you lose it all. The only thing is there is no luck and all the winnings depend on your strategy and planning. The trend also plays a part but your luck has nothing to do with it.
The trend also plays a part but your luck has nothing to do with it.
This is the second explanation that can explain their behavior. People start trading with a goal and plan in their mind at the start but it changes when they deposit their money and place their trades on the live trend. They become hypnotized and they cannot wait for any moment to make their profit. They start taking big risks, they overtrade and they pass sleepless nights only to make their fortune in one moment.