Learn to make independent decisions at trading
Do you know the most difficult task in the forex? We will be generous and provide some time to think but the majority will fail to get the correct answer. No, it is not managing the fund although that is a vital element. If capital is lost, the account will be closed automatically. Well, it’s time to spill out the beans. Learning to make decisions free from external influence is the hardest part in currency trading. This biggest financial center indirectly coerces our mind to listen to other people. As a result, investors end up executing orders which they didn’t want themselves. They are unaware of the fact as they are anxious about the investment. How many times have you taken any decisions not based on advice? We can tell the number is few as not many have the guts to do so. The unstable nature, volatile trends, and mind-boggling movements only confuse more.
Probably the first time, traders are going to read something that is completely out of the box. This resource will not advise to listen to professionals nor read the news. For the first time, traders will be in complete control of their investments. This is disappointing because it should have been achieved a long time ago. The funding does not fall from the sky nor does it come magically. It is the hard-earned cash of enticed people who want to make some money. So, why on earth should their choices be altered by listening to someone else?
Should I not listen to my mentor at least?
The truth is they never direct people to execute an order. They provide assistance, teach some techniques, show them how to read the trends but told them to make the decisions. It is the individual’s call who has made this deposit. The reason followers cannot understand is they are overwhelmed by potential opportunities. The way this industry is represented is like a Hollywood film. Everything can be possible if they go by the books. The next time you are placing a trade, we advise only to use the learned techniques but imitate the experts. Make your own decisions and stick to your guns. Do not get heartbroken if the fund is lost. The mentors will not be there forever to assist in every trades. Start taking control of personal affairs.
Should use an EAs or bots?
Taking advantage of technology is always helpful for traders. But relying too much upon makes things worse. Instead of overloading the charts with the indicators, use the auto chartist to find the most relevant chart patterns. It will help to improve your skills and make you a better trader over the period. And make sure you don’t give the full control to EAs or bots. Still, now, manual trading is the best.
What about my community tips then?
Forget the community. Fortune favors the brave not the herd of donkeys. Most often they are led by self-proclaimed experts who don’t know what they are even doing. There are no records where groups have performed successfully. Even if they had few successes, divergent decisions soon led to the downfall of performance. Make free decisions take responsibility, and if anything goes wrong seek assistance from fellow investors. No need to explain the situation or particular method has been undertaken.
Who should I blame then?
Now you have come to the point. The reason we have developed this smartness to forget our mistakes is due to the habit of blaming someone else. Try to act mature and take up responsibilities. If anything goes wrong, only the account holder will be held liable. As the money has come from the individual, so do the responsibility of actions. Make mistakes, rectify, and improve and keep on trying until it is consistent. Neither community nor mentors are going to help to make the dream come true.