You are here: Home > Forex > Focusing on success: The best way to get there

Focusing on success: The best way to get there

Forex TradingBeing a good trader is not about making a lot of perfect trades, it’s about earning consistent and increasing process. Trying to reach perfection and makes the mind stressed unnecessarily, while we can perform way better under high confidence levels, based on consistency and hard work.

Predicting Forex exchanges rates can be very tricky and there are many factors involved, that are very hard to be aware of them all, even if they trade with Forex no deposit bonuses. This reasons give traders the necessity to be emotionally prepared to make wrong calls, and be at peace with it. Of course we aim to keep such calls to a bare minimum, but it is very important to learn how to handle them. A key element in order to meet this end is to develop the capacity to recognise a wrong way quickly, so we can afford to correct mistakes timely.

The proper equation to measure the traders capacities is to take a look at the profits achieved on a certain time, and the risks he or she had to take to earn them. Having a lot, or none absolutely perfect trades will meet nothing over time, consistency will.

The Downside of Perfection

Ignoring the fact that every trader should know how to handle losses and picking only the best forex bonuses in 2016, people are who they are. Since people are what they are, you cannot ask them to change something about who they are. Trying to achieve perfection may be very harmful, or lead you to very cautious and thought decisions.

The main issue when looking for the perfect trade and to analyse deeper and deeper has one of the higher costs there is out there: the cost of time. While study time and time again the same currencies thinking if they are 100% failure proof, a lot of trains pass by the station.

There are perfect trades, but there are definitely no perfect portfolios, and there shouldn’t be, well.. It wouldn’t hurt of course, but a certain part of every portfolio should have a higher risk percentage, looking of course to earn bigger profits.

A perfect trade, or a good trade for that matter, consist in getting in a good time on the correct flow of a determined trade and stepping out before it reverts again, making as big as possible the profit in between. So, focusing on being perfect is highly distant from the path we are encouraged to follow, since we would turn into our own enemies when things go wrong, which is when we need to be the best. It also consumes the time we should be ceasing in finding, spotting and trading new opportunities, which is happening infinitely while the market is open.

We hope this helps and if you thought about yourself while you were reading this. Also, we hope that you will pick the best Forex no deposit bonus in 2016 and trade well! Don’t aim for perfection, aim for constant earnings, it’s better for your present and even better for your future. Good Luck

Tags:

  • Digg
  • Twitter
  • RSS

Leave a Reply

?>