Is Forex Trading really hard?
Actually, Forex Trading is difficult it is not surprising the fact that in any business/businesses, the number of successful people is ALWAYS less than the person who failed. Similarly, in the field of forex trading.
There is an opinion that Forex trading is considered as heavy because the culprit is required to be able to “predict” with various analysis where the price will move. Both using technical analysis and fundamental analysis.
The thing that much makes the Forex Trading is difficult business feel the pressure is high enough and eventually to force the will.
Trading Forex is not just a buy and sell, trading is not just a chart. Forex trading is not just technical and fundamental analysis, Forex Trading is not a disadvantage.
Another factor is not to know and understand the reality condition of how the forex market works so that this business seems difficult and confusing for them
Trading is based on the facts of what is happening in the market, not based on the assumptions we succeed. If the analysis is wrong, we are registered to prepare the risk restriction (stop loss).
Don’t be afraid to feel late. Losses are usually more common when the trader is too fast/rushed in. Those who are late are often safe. If the same is subject to loss, the first entry is more severe than the late entry.
In the science of hunting, there is a science of repentance that is possessed in addition to shooting skills, namely the science of waiting.
Waiting is the half success. When a lion hunts prey, it’s easy to spend mengendap2 waiting on the right, not running there and chasing prey.
How exactly is the real forex market condition? Let’s discuss one by one.
1. BUSINESS WITHOUT RULES.
Indeed trading is a business with no rules at all. The Market only moves up and down for a full 24 hours (5 days). Therefore, we ourselves must make a rule/plan.
- Want to trade what time.
- Enter and exit the market at what time.
- Determine the target profit and set the risk.
Make the plan as detailed as possible, the more the detail the better. And execute that plan disciplined and consistent. Do not attempt to change plans when traveling. If you have not touched the profit or loss limit, just leave it.
By consistently doing the plan, we will find the profit and loss alternately so that it finds a pattern. When the plan ends with profit, and when the plan ends with a loss.
The pattern will be a trading plan that is constantly repeated, evaluated, and repaired so that we increasingly understand the advantages and disadvantages.
2. HAVE MILLIONS OF POSSIBILITIES.
Because trading is dynamic and without rules, so the options and possibilities become very much (even not limited). Every trader is free to define their trades, according to their respective skills and busyness.
Although using the same methods and indicators, it can produce different ways of trading. Suppose the same use the Fibonacci retracement indicator, but the way the lines differ, then it generates different viewpoints as well.
In trading, subjectivity occurs because the analysis is subjective. There is no absolute truth, we are free to use any method or analysis. As long as it can be profitable and convenient for us, the analysis is considered great.
The main key is that we have determined the limits of profit and loss with a clear, mentally prepared if the analysis ends with a loss, and is convinced that our analysis is not always wrong.
Trading is the art of analyzing possibilities (probability) uncertain.
Just as life is uncertain, it only contains possibilities by possibility. Surely success does not exist, of course, failed also not. Our job is how to enlarge the chances of success and reduce the likelihood of failure.
3. MOVING PRICES ARE FREE AND DYNAMIC Forex Trading is difficult.
The price if going up, usually dropped first. The price if going down usually rises first. There has never been a straight line. Here’s why many traders feel “deceived “.
The best way to avoid the feeling of “tricked market” is to patiently wait until the price actually gives a clear signal.
When there is a trend, do not try to fight it because the change in trend direction does not happen instantly and suddenly. It usually takes some time for the consolidation (Sideways). Then there are 2 options: The trend continues or the trend turns.
No word is too late in the market. According to our price “already ” low, can move lower again. Or the price has been high apparently can move even higher.
In short, create a system at every step of your business in Forex because this system will alleviate the efforts of Forex so that it becomes easier.
To become a successful trader, then the knowledge of forex.
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