We do not think that I will reveal a great secret to you if we say that the essence of the Forex market is such that there is a constant movement of money supply from most traders to the most successful speculators, of which there are not so many. Moreover, the Forex market is one of the few markets that allows you to continue trading, even having lost the lion’s share of the deposit. This is possibly the colossal leverage that the system provides, as well as the lack of knowledge in finance. Nothing stops traders in pursuit of their dreams, so currency transactions are carried out without stopping.
Trading is a very difficult game that requires a flexible mind, dexterity and knowledge of the rules. Many newcomers, entering the foreign exchange market, are completely unaware that only the strong in spirit survive here, those who know the limitations and basic rules that they follow. Both the one and the other indicator are very important for successful trading. But not everyone becomes ready to change themselves, to adapt to the conditions dictated by the market; they cannot devote as much time and effort as the Forex market requires. On the way to professionalism, every trader has to go through a kind of obstacle course, which includes overcoming such feelings as greed, fear, as well as the ability to control their emotions and be calm, no matter what happens in the foreign exchange market.
As we have already noted in one of the articles, each Forex market participant must independently decide on the choice of the optimal trading system for him. It certainly needs to be tested for some time in order for it to prove its effectiveness.
What determines success in Forex trading? We can say with absolute certainty that this is an opportunity to make a profit if you act correctly and incur minimal losses in case of incorrect actions. This statement is the quintessence of trading. Therefore, every system that meets these requests will be optimal.
If we compare a trader with a soldier, then his weapon is the trading system. Without knowledge of this system and its skillful use, a trader cannot win on the Forex field. The trading system will become the perfect weapon if a trader has developed it independently, exclusively for himself, and it helps him not only feel comfortable in the market, but also to receive significant income.
you cannot earn a cent if you do not follow either the trend or the direction of the majority. But you should be on the alert all the time in order to react in a timely manner in the event of an oversold or overbought situation. This is where skill and courage are required to turn in the opposite direction.
Another wisdom that we want to share with you is Money management. Alas, not every trader knows how to properly distribute his deposit. Because of this, many traders suffer losses by the end of the day. They could be minimized or avoided altogether if they used money management wisely and followed the discipline that the market dictates to them.
