Missing the perfect trade setups in Forex market
Trading the financial instrument can be extremely risky. Most retail traders don’t know the perfect way to trade this market. They simply place their trade based on emotions and lose a significant portion of their investment. If you look at the professional traders in the United Kingdom you will understand that trading is not all complex. The expert traders are making a consistent profit without any stress and they are living their dream life. If you truly believe that trading is the perfect profession for you, you need to learn the basics first. Never think that you will become a Forex millionaire based on gut feelings. You have to educate yourself with the proper knowledge of trading. Learning the basic art of trading will be the little bit hard at the early stage but if you focus on the key factors everything will become easy for you. Some retail traders often say that they have missed once in lifetime opportunity. But you need to understand the fact that this market will be always present for you. In this article, we will discuss how to deal with the missing trading opportunity.
No trading system is perfect
You might have worked really hard to develop your trading system but this doesn’t mean that you will be able to place a trade in trade setups. You need to understand the influence of psychology. Some expert traders say 90% of the things in the trading industry can be achieved by psychological development. We are a human beings and it’s very natural for us to miss certain trade setups. If we always wait for the ideal profit factor, we are going to lose a huge amount of money in this industry. We need to consider the probability factor in trading to become a successful trader. Without having a strong mindset it’s almost impossible to survive in the investment world.
Wait for market retracement
If you miss a certain trade setup there is no need to worry. Most of the time the market gives a second chance to the traders to place their trade. You need to develop patience to become a successful trader in the Forex market. If you try to trade this market in an aggressive way you will never become a profitable trader. You need to trade this market with managed risk so that you don’t get frustrated after losing few trades. It’s absolutely normal to miss a certain trade in the dynamic nature of this market. No one knows which trade will hit the potential stop loss or take profit level. Unless you lose money, it’s always better to stay on the sideline. In fact, the majority of the successful traders do nothing most of the time. They watch the price movement of the currency pair so that they can easily pin the best trades.
Let it go
At times you should accept the truth that you have missed a very good trade setup. But this shouldn’t make you sad as the market will give you many trading opportunities. You need to consider the risk-reward ratio to become a successful trader. Let’s say that you have spotted a high-quality trade setup in favor of the long-term market trend but the risk-reward ratio doesn’t look that great. So it’s better to leave that trade and wait for the next trade setup. At times, the worst trade setups can give you huge amount profit due to high-risk reward ratio.
Trading the market is an art. You can participate in this market 24 hours day. When you miss any trading opportunity, you need to embrace the truth. Wait on the sideline until you get another quality trading signal in favor of the market trend. Never try to trade this market based on your gut feelings, as it will ruin your investment.
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20-02-2018, 14:38
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