3 Top Tips for Trading the Markets Like a Pro
Developing and sticking to your trading strategy is crucial if you trade CFDs on forex, commodities, indices and shares. Simply put, veering from your trading strategy is a risky move that could see you lose funds, and that’s something that no trader wants to happen!
The fact is though that many traders slip into negative trading habits such as trading intra-day price variations or withdrawing a cost-effective trade simply because the market started retracing against a position. These kinds of trading habits are counterproductive to your success result as you are overreacting to normal price variations in a market.
Why Less is More
Less is definitely more when it comes to trading the world’s markets – it really is crucial! To hammer this point home, we’ll look at 3 key points: market dynamics, price action and how not to react to every market fluctuation.
Can you stop a freight train?
In trading “a freight train” refers to trends with tonnes of momentum behind them. If you look at the charts, you’ll soon realise that EURUSD, USDJPY and AUDUSD, to name a few, have long multi-month trends. These trends, just like real freight trains, don’t alter direction quickly or easily. Our freight train analogy brings us neatly to my 3 tips to ensure that you instill Less is More in your trading strategy
more detail : Why Less is More in Forex Trading