Question from a member:
Thanks a whole lot for your great observation,in the area of TRADING BEHAVIOR it has been one of the major problem an upcoming traders faces today.
But i think i will disagree with you for saying trading isn't a job,in the first place why is it call trading when is not a job?
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Answer:
I think: "It's all about the GAME" (FX GAME).
Live players are moving the price! Everybody tries to catch the score (example:playing poker). I have never heard that someone is "working" FOREX, more likely trading.
I have never heard someone to "work"football,basketball,baseball,etc.
And there is also great income for professional players! You need to spot your chance to win a score!
If you wish to work it's enough to learn some rules and take the money for job done. But if you learn the rules about football,baseball,Forex,basketball,etc that does not mean you know how to win and take the money!
Let,s say that Forex is big global online game!
There is a war going on! In that war everybody fights for them self. Some people join forces and fight as a clan.
So we have clans here:
-news trading clan
-session trading clan
-trend trading clan
Every clan has his set of rules that you don't know. News trader clan doesn't care much what session trading clan is doing. Session trading clan does not know what news trading clan is doing. Trend trading clan knows only what he is doing.
Clan members loose money easily because they learn only one trading strategy and don't care about others participants and their strategies on the market.
This is exactly how I described, new trader with one or no strategy on the market will loose money and go away and new trader will replace him! This is how clan is operating, 95% of people is losing money on the market!
If you wish to succeed you must know what is your opponent up to!
Learn all strategies that you can ! why? Strategies will tell you when (time), where (price) will your opponent react. And you will have idea how to beat him!
When you learn all strategies that you can then you will develop your own strategy which would be
strategy ABOVE STRATEGIES! It will become your personal holy grail!!!
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