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Posted on Oct 24, 2019 at 07:24 PM
Does trading strategy really fail? Here's one reason why your strategy maybe churning our losses right now!
A strategy works until it doesn't work"
As a Forex trader mastering and trading a strategy shows that you are in control of your trading journey and you are taking full responsibilities for trade and equity at all times.
Have you had those days where it seemed like your strategy isn't working? I have had mine and other traders too have had theirs.
But really does a strategy stop working? Well I do not think so.
Here's why: Imagine that I have mastered a strategy to trade the double bottoms pattern and each time I use it, it works wonders, at what point does the market decided to stop respecting the laws of bulls and bears?
It's only logical that the strategy continues to work long as the double pattern present itself.
What then happens when a double bottom pattern does not appear for weeks? The truth is, if you attempt to apply that strategy to another pattern it may not work for you.
The common mistake most traders make when the market does not present a pattern that suits their strategy is to either:
Trade it anyway and hope that the market favors them: this then leads to what I call speculative trading: Where the only thing you have is hope with no concrete analysis to back up your trade).
Do Nothing: Sadly your Forex account needs consistent action to grow, everyday you do nothing you miss out on the chance to earn on that account.
So here are some tips: While you wait for the perfect market pattern to execute your strategy, here are a few things to do to make profit starting this week:
1. Try out a new strategy: This always works, because there are thousands of strategies out there that you can try, pick one out today, test it and if it works for you add it to your list of strategies and use it now that you can!
Note: Don’t got trying out every strategy you see, pick it one at a time, test and then implement gradually.
The more strategies you can master, the more you can make out of the market opportunities as they come.
2. Join the Support Signals: Everyday we post 85% accurate signals to support traders like you on the site, you can take advantage of them to keep your account growing instead of leaving it stagnant.
Using our 5 minute analysis trading technique with signals will only take you few minutes daily because the entry and exit point has been mapped out for you and all you have to do take about 5 minutes to check the signals when they drop daily and place the trades.
Yesterday, we booked 15 pips on NZD/USD and for some traders that would be $0.15, another it’s $1.5 while some it’s $15 or even more depending on the lot size/Volume they took.
Before this week runs out we want to hit 100 pips in the signal channel, would you like to trade this signals with me? Leave a comment below and I would guide you on how to subscribe to our daily signal reminder.
Don’t leave your account stagnant this week, make some profit!