3 Secrets in Forex Trading
Trading can be simple, but it’s not easy. And trading is definitely more difficult if you complicate it. Remember the saying: “A Confused Mind Takes No Action.” As a trader, you MUST take action, every single day; therefore, you must avoid confusion. So keep it simple. Very simple. Here are the three
“Secrets” to Day Trading Success
Secret 1: Trading in the Right Direction
You must buy when the market is going up and sell when the market is going down. That’s how money is made.
Secret 2: Always Know When to Exit a Trade
It is essential that you know when it’s the right time to exit with a profit and when it’s the right time to exit with a loss.
Secret 3: Trade the Right Market
The right market is a trending market. As you know, money is made in trends – either up or down – so you dramatically increase your chances of making money if you trade a trending market.
Now you know why I put the word “secrets” in quotation marks. These are not “secrets” at all. Unfortunately, though, most traders don’t realize the importance of these facts and tend to forget them.
Losing traders focus on finding a “magic method” of trading, visiting countless websites and spending hundreds and thousands of dollars on books, courses, and software packages.
Don’t make the same mistake. Keep your trading simple. Remember, the “secrets” to day trading success are universal. They apply to every market, whether you’re trading stocks, futures, options, or forex.
And they apply to every timeframe, which is why they’re so powerful.
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