If I ask any of you: what do you trade? Some will answer - currency. Another person will say that he trades raw materials or metals. A third person will say that he trades shares of large companies. These are some of the most frequent answers.
But this article is not about choosing the proper trading instrument or market. This time the answer to the title question will be totally different.
If you read this article to the end, you will start to look at trading from a different perspective. Some of my fellow readers may find this information brand new. Maybe this article will help some of you avoid mistakes and save you the nerves and your deposit.
This article will tell you what a trader can trade. Closer to the end, I’ll explain what you should trade to get regular profit.
You don’t trade the market, you trade your attitude
These are the words of one of the greatest traders of our time. And I totally agree.
- Why did you enter this trade? Why did you by these assets?
You can often hear the following reasoning:
- I think the price is going to rise.
- I believe I should have bought here.
- I’ve noticed the uptrend from this point.
I can go on forever. But these answers have one thing in common – often traders can’t say clearly why they have entered or exited this or that trade.
Usually that happens when a trader has no strategy. If you don’t have the skill to develop your own or you don’t want to spend time on it, I recommend you to use our Horizon strategy.
Horizon TS is fully adapted to any conditions of modern market. If you follow its rules, you will never lose your deposit.
And you will get a 57% monthly growth of your deposit. You can download all 10 Horizon video lessons for free. Just follow the link below.
Get free Horizon video lessons here
Now let’s see what a trader starts trading if they have no strategy.
Of course, the list below is not complete, you can tell about your own trading choices in the comments.
Forex is full of rumours. Some experts say that they can influence volatility and price much greater than some top news.
In some cases, it turns out to be true. Take the Brexit, for example. The rumours surrounding it led to greater pound volatility.
I am personally against trading rumours. Even if they are alleged insider information. In that case, you don’t have a proper plan of action, you don’t know where exactly you should enter a trade, when to exit and how to track your position.
Probably the worst trading choice. If you enter a trade overwhelmed by emotions, you lose control.
It leads to severe risk mismanagement, the desire to “recoup” after a triggered stop-loss. As a result, you can get substantial losses and even lose your entire deposit.
Besides, emotional entry can be the result of the burst of volatility. Recall: did you enter on a strong momentum? But then your stop-loss triggered.
“I want the price to rise, that’s why I bought”. This approach is no better than trading emotions. Market is blind and deaf to your wishes.
In reality, such trading will sooner or later make you lose your deposit. Traders, who usually do wishful trading, don’t know where they should enter, where to place a stop and when they should take profit.
Wishful trading goes down to the desire to earn “fast and much”. At Forex that happens very rarely.
The best of all the mentioned. But not the best of all – this option is described further.
Many of you know that we regularly publish Horizon and Horizon X analytics. And every week we demonstrate how they worked out and how we traded.
You can see the example of a forecast here. And here you can read how our forecasts worked out.
When using analytics you must be aware of how an entry appears. You must know how to assess the potential of a trade. And most importantly: you must not be afraid to use the knowledge you have got. That is what we teach at our individual classes.
We sign an official contract for individual training that guarantees the doubling of your starting deposit during the course.
You can sign up for a free trial individual session with any Forex Academy trader by clicking the link below.
Sign up for trial session with Forex Academy trader here
The best type of trading!
It can be explained in one phrase. If we have an idea, we trade it – if not, we “sit on the fence” and monitor the market. That is it. No more, no less.
Here is what your trading idea should include.
- All you actions must be part of your trading strategy (or at least they must not contradict it);
- Before you enter, you must give yourself clear answers to the following questions:
- Where do I place my stop-loss?
- When do I take profit?
- How do I track my position?
Only after that, you can enter and place your orders.
- You must fully control your emotional state: from the entry to the exit.
Trading ideas comprises a trading strategy. It should be simple, clear and cover as many situations as possible. The strategy must have clear and working trading rules.
Horizon system meets all these requirements. You can get it free by following the link below.
Get Horizon trading system here
If our trainees, who studied Horizon and Horizon X, or completed individual training with our traders, are reading this article, please share your impressions and result in the comments.
Have a nice day and profitable trading!