Take control of your Forex Trading so you can stay focused
Not all trading opportunities that you see must be taken. A wise choice is to limit the number of your forex transactions at one time. Controlling your trading is very important so you stay focused on forex trading.
If you already have one open position in the EUR / USD currency pair and GBP / USD, then your focus will be very easily split if you add more open positions in another currency pair. Unless you are a trader who already has tens of thousands of hours of trading. Of course you already have high concentration ability.
Focus only on pairs with great opportunities.
You should focus and concentrate on opportunities that do have the highest probability of success. Make transactions at the biggest opportunity, then concentrate on the transaction only so that your attention is not easily divided. The analogy is, if you want to buy fruits at a fruit stall, you will only look for fruit that is in the best condition, right?
Many forex traders think that if more and more positions (transactions) at a time, the opportunity to get a profit will be even greater. Actually this opinion is not right. The more open positions, the more busy your brain. If your brain becomes more “busy”, then you will be increasingly difficult to focus on your trading plan.
Impatience and greed are dangerous in forex trading.
Common mistakes made by forex traders, especially beginners. They open multiple transactions at a time simultaneously. The cause is impatience and greed. Even though this is dangerous, because for a moment your concentration breaks down, so say goodbye to your money!
It’s a pity. That’s what happened.
You must understand that you are just an ordinary human being who can only focus your attention on only one or two things at the same time. So be patient. Don’t be too eager to make multiple transactions at once. Do it one by one. A maximum of two open positions at the same time.
Indeed, even if you do the suggestions above it will not guarantee that you will get a consistent profit. This requires processes and paths that are not short. But rest assured, this advice guarantees that you will not experience too much loss and will extend your trading career. Long enough that you are able to make profit consistently. That’s when you will feel the benefits.
When you read, more than 12,000 people are studying and preparing to enter the world of Forex trading. When you ?