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[Forex Trading Advice] The Key Element To Trade Forex Live Without Stress

By on August 4, 2020 0 31 Views
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[Forex Trading Advice] The Key Element To Trade Forex Live Without Stress

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In Forex trading, starting to trade can be a cause of stress if you start to modify your trading strategy.

Instead, you should aim to trade like you backtest. If you’ve done the work, there should be no reason to fail once you get to trade live.

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If you aspire to trade for a living, one day you’ll find yourself having multiple trading strategies or trading styles.

The fact is that no single trading strategy can be used at all time. In fact, it is frequent for professional Forex traders to switch between strategies or to replace the ones underperforming.

Personally, I’ve been starting in Forex as a swing trader. After I got consistent with it (which wasn’t an easy job, let me remind you), I started to dive into day trading (both the New York and Tokyo sessions). That brought me to use more than one way to trade.

The thing I want to point out, however, is that having a Forex trading strategy playbook doesn’t mean you should accumulate as many trading strategies as possible in the hope to make more money. In reality, trading too many things usually has for effect to reduce your overall return.

In addition, do not be surprised if you do not make money from the start with a strategy you just started to trade live. There is a period of adaptation.

However, as you start to expand your trading strategies, staying organized becomes crucial. You absolutely need to keep things in order. Your playbook should be focused on clarity and must be visible.

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If you truly want to succeed in Forex trading, you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.

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Check out the Desire To Trade Podcast – Trading Tips & Interviews with Successful Traders: www.desiretotrade.com/podcast/

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