There are many traders who want to perfect their strategy. It is only a dream because you can never understand the market. If you want to know how to make perfect trades, you need to know that there nothing as perfection in Forex. You may think your strategy is the best plan in the world but when you will place trades, you will find you are losing money. It can be the most complex strategy but there are other traders who are making money with their simple strategy. This article will tell you why you should never try for perfection in Forex.
Leading your dream life in the United Kingdom is really hard. People are struggling hard to find a decent job even after graduation. Starting a new business from scratch is also very hard. You need to have a huge amount of money to ensure the productivity of your business. When you consider trading as your business, things change dramatically. You can easily make a decent profit and create a steady source of income by using the leverage trading account offered by Saxo. Trading is not all hard provided that you have the passion to learn. Though the success rate is very low in the Forex trading industry it should not stop you from being a fulltime trader. If you can educate yourself properly, you can easily become a profitable trader.
Looking for the Holy Grail
In this advanced world, people always love to make things automatic. Similarly, when you are trading CFDs, you might consider bots and EAs. Bots and EAs are nothing but a bunch code written by smart coders. You can’t make any real progress depending on such automated trading system. Try to understand manual trading strategy and work hard to develop your skills. Start trading with the demo accounts since you won’t have to lose any real money. Focus your discipline and control your greed. Stop looking for the Holy Grail in the Forex market. Try to develop a balanced trading system which will help you to make money even after losing a few trades.
No strategy is perfect
Every strategy has flaws and you will make mistakes with every strategy. If you take advice from the professional, you will find that they are also losing money there is no trader in Forex who have not lost their money. It is common and also the professionals have to lose trades. If you think you will take courses and develop a strategy that can win all the trends, you are wrong. There were many traders who tried to do this but they all failed. It will take you time to realize this trading is not easy. The more you try to make your plan perfect, the changes you will find in the trends. The volatility is always changing and the trends are also, it is a hard work for the traders to develop a strategy that is perfect. It is not a film where you can be Aamir Khan and place a perfect trade. The flaws are natural and through your mistakes, you will become better. If you are spending your time on developing strategy that can be used on any volatility, you are wrong. It is not the strategy that makes you lose money, it is the trend and volatility that always keep changing and the traders are losing money.
Forex market is completely random
If you take course form the best professional trader, you cannot develop a strategy or analysis that is the perfect strategy. You will always lose money. There is nothing that can tell you it is the perfect plan. Every plan that professional makes need to be changed and adapted with the market. They need to be developed and they need to be practiced in the demo account. If you think your plan is perfect, the volatility will not lose your money, you are wrong. There will be news releases and you will find the trends are going against you. There is perfection in Forex.