InstaForex

Thursday, October 7, 2010

12. ‘Screen time’ is magic in Forex Trading.

Screen time or your hands on experience with the trading on specific
 method/system is the key element in determine success.
Without this,even if we are exposed to the best system in the world,
we have slim chances to be successful.

When we get the strategies/system we must live trade with it and get used.
Training and practicing with the system/strategies is important so that we
will know the flaws and drawbacks of strategies under different market condition.
Many times, at first the method is seem OK until one day when the market
comes to an extreme condition that the method is out of sync and not obey the rules.
So, what to do under this condition? That's the question.
We must practice and try the method over long time because it is involved
your mental strength and preparation on how to make decision and react under
different condition. We must study whether under condition,it is good to entry
or stay aside, where to put stoploss,where to exit,when to cutloss and how
 to put away the wrong emotion of greed, fear, patient,reset and to keep
discipline with the method.

Try it for 6-12 month to trade profitably with the method until success.
Don't jump from method to method if one seem not Ok and make early
conclusion and immediately blame the method .
We need to study it and write down all the point and make a lot of practices.
After one failure, please ask ourself this checklists on what went wrong:

1) Is the method is not ok or I don't have enough try under different condition?.
2) Am I alter and fix the method to be comfortable with myself not the market?
3) Any emotion during it such as too greedy,not patient,no discipline and
    no money management?
4) I already face same thing before and what I have done supposedly.?

If above is seem difficult,then I would said that there is no better route
 for us to be succesful.In order to mastering the method,we need training
and training and make self correction until we are consistent mentally
and technically.

Same like other jobs and during our study time; we study for how many
years to get degree,diploma or become professional workers or sportsman.
In forex trading also same,we need to go through learning curve until
we get used to it and we are naturally become handy with the method,strategies or system.

The 'Screen time' will revealed us the success secrets.
The longer is the better.
Like the 'light at the end of tunnel'.

See you'll later.Till next post..Bye then

No comments:

Post a Comment