The most common mistake done by traders is waiting for a second good trend. They forget it is a live market and every moment is important. If one trend is gone, it is gone and when it will come back is not known. They cannot accept that good chance has been passed away and they try to ride on that train again. This is when they lose their money. This article will tell you why you should never wait for a second trend. Treat every trend like your first time and you will get success. If you are waiting for your favorite time to place a trade, that time may never come. Read this article and it will explain the rest to you. People have many misconceptions among themselves and waiting for a good trend is one of them. No trend is bad and no trend is good, it all depends on how well you can perform your strategy.
Table of Contents
Every opportunity counts
The conservative and novice traders often make things overly complicated. They analyze too many variables which make trading extremely difficult. The senior analyst of Rakuten broker always suggests that new traders to simple but effective trading system. If you use too many indicators and EAs to filter out one good trade, it’s very obvious things will get disorientated. On the contrary, you can easily open a very good trade by using a simple price action signal at the key support and resistance level. Stop missing the good trades due to overthinking.
You need to act smart
You need to act very smartly to become a profitable trader. Develop the habit of snipper and wait in the sideline to filter out the best trade setup. The successful traders at Rakuten online trading community always believe in quality trade execution. In order to act smart, you must have clear knowledge about this market. Rookie traders might think about learning the different kinds of trading strategy is extremely hard but this is not all right. Every strategy serves on purpose and it’s to make a profit consistently. So craft a unique trading system according to your personality and trade with very low-risk exposure.
Every trend brings opportunity
When you are placing trades, remember every trend is profitable if you can use the right strategy. People use one strategy and they do not change it over time. The plan becomes outdated and ultimately it cannot adjust to the changing trends. When you see a trend coming, try to identify if it is a good trend or not. Waiting for a perfect trend is going to take you forever and it may come when you have no money left. The trend happens when the money is changing hands and you should try to get profit from the change. If you are waiting, it will only lengthen your time to achieve success. Every trend is profitable as long as it stays on the market. Look at the scalpers and you will find the answers. They are master to make a fortune even from a small volatility. They do not wait but they use the trend to their own advantage.
Perfect trends never exist, every trend has some risks
The trends that you are dreaming of is never going to come in your lifetime. This is an industry where every moment is traded by the people and waiting will only increase the competition. People wait for a risk-free trend that is nor practical. Every time you place trades, your capital is put at stake. You will always have some risks but do not mind that as it is natural in currency exchange. What we want to tell you is believe in yourself and go for a trend that matches with your trading style. It is not important if you make a profit or not because you need to first develop the self-confidence.
About Carson Derrow
