When people first open their account in this currency industry, the first thing they hear is they need to develop a strategy. They begin working on developing their strategy but it does not always work for them. There will be times when you will be frustrated thinking this is a total waste of time. This I, not something that we haven’t experienced but many novice traders have not experienced it yet. They think it is only working and the strategy that can make this career successful for them. This is not and you also need to know how to stick to your strategy always. It may sound easy and you may think why will you leave it when you have worked so hard for it? This is because when people begin to lose money with their strategy, they think this strategy is not useful and begin to use another strategy. This way they keep on changing strategy until they find the perfect one, knowing every strategy is perfect but it does not work all the time perfectly. This article will tell you the importance of sticking to your strategy in your career no matter what happens.
Some of you might think that your system is not working after losing a few trades. But this is not true. Trading is dealing with the probability factors of the market. You have to know losing trades are inevitable. If you can manage your losing trades in an organized way, you can easily change your life based on this profession. The more you will learn, the better you will understand the complex nature of this market. Those who are thinking to make some quick bucks from this market should never invest any money. Have a look at the trained professional in Australia. All of them consider Forex trading as their business. None of the Aussie traders follows an aggressive trading strategy to deal with their losing trades.
Managing your losing trades is one of the hardest things in the CFD trading industry. But if you simply follow the 2% rule of risk management everything will work great. You don’t have to trade the market with huge risk to secure your whole month earning. Just focus on the long-term market trend and try to safeguard your investment. Act smart while taking a decision in the live market.
This is the only home where you can find peace, every strategy fails sometimes
This may sound melodramatic to you but what we are saying is true. You cannot find any peace in this world if you do not stable your mind on your strategy. We understand this is not perfect and neither are you. There is no perfection in any of the strategies of this industry and you need to accept it. You may work for months on this strategy but it will always fail sometime. Do not get worried as it is normal in this industry. Even the professional traders that you give advice and proving courses to the novice traders like you, they also make mistakes and their strategy do not work all the time. If their strategy was so perfect, do you think they would ever need any risks to reward ratio? It is only because they also lose money like us, they also need a strategy to stick on. If the trades get lost, do not lose confidence in your strategy.
If you want to use a new strategy, you have to start from the beginning
Trading with a new strategy will take time to develop. You have to understand the strategy, find what market it goes and then work on developing it. You can avoid all of these if you stick to your old strategy. Take help from your groups, your trading buddies on how to make it better but do not keep changing strategies every time you lose money.