100 Forex Trading Strategies
Foreign exchange , commonly known as ‘Forex’ or ‘FX’, is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. The price is now moving a little sideways, but the price held above the prior swing low, and all the elements are there so I am triggered in. +13.6 pips (entry price had slippage slightly reducing profit on trade-target stays at originally planned level despite the slippage).
So you can see how easy it is for a greedy man to lose all his money trading forex and that is the story of many Nigerians in particular, they want to trade bigger lot with smaller amount thereby losing all their money but why can;t they be ok with at least 200usd or even 100usd profit daily and build their trading capital to the level where they can conviniently trade bugger lots.
This is because any intuition or a hunch that the traders experience as a result of some newly gained knowledge of the forex market is likely to be overridden by one of the two emotional derivatives of their life-long programming towards the money – the greed and the fear In other words, without strict adherence to an existing mechanical trading system the beginning trader will eventually succumb to his or her emotions.
If mechanical trading systems suffer form the paradigm shifts on the market – the same can be said of the human mind (discretionary trading systmes) which tends to be very inflexible once a partciluar way of doing things (i.e. trading style) is ingrained in it.
It’s a disgusting, dirty business in which the brokers/bookies make it seem easy but in reality where the average trader has almost no chance whatsoever to succeed and sadly if these greedy degenerates just watched these free video lessons instead, they’d be saved.
Somehow, I wish you can also give us some tips on how to protect our eyesight after watching long hours on a bright forex trading screen.Because I find myself getting more colour blind and poor eye sight as time goes by.Needs some info for us on eyecare please!
I hope that now it will be easier for some traders to understand why it’s recommended to opt for a VPS hosting for their EAs when they can afford it. I’ve used MT4” in the text and in the images but, of course, it can be MT5” or any other trading platform that supports automated trading using expert advisors (or Forex robots).