I have been trading in financial markets for about 15 years now. When I started, I think in 1994, there were not many programs in the market and of course no one was talking about Forex yet.
But “magical systems” were already circulating on the Internet. Where you find different types of gurus who sell their black box that can only be used by professionals and, of course, promises to make a fortune in days or maybe a few hours …
One by one, these ghosts have left their places to replace others.
Today you can find thousands of “brilliant” trading systems only if you type the word “trading system” in any search engine on the Internet. You can also read great articles that confirm the success of these auctions or trading robots.
Speaking of the Lord. It seems surprising that many people believe in the possibility of success through automated trading. They fancy that they can go to work in the morning leaving behind this wonderful robot to make profits in the Forex market alone without interference from them. Have you had the opportunity to get a The Bitcoin Code trading system that is used only by banks and major institutions? Just be patient and you will find one of the smart people who presents it to you, and this may be the best.
I use a deliberately sarcastic tone here because I am tired of seeing so much disappointment from those who still believe in Santa Claus. Let’s get my friends back to reality, actually there’s no easy way to make money in financial markets. Most traders who get the cost of living using cut trade will not involve you in their business.
The good thing here is that you can learn how to trade on your own. Today you can get good training courses through the Internet whether paid or free. Where you can access multiple sources and all you need to take the time to choose the most appropriate sites in the Internet to provide it.
You may now wonder what to do with all these exercises and tips?
Well, if you want to succeed in trading whatever market you are trading in, you should first become a trader. You should develop from your trading system or approach and take a good position on the tried and true rules of capital management (choose one you feel comfortable with and achieve what you want).
If in short:
Learn the fundamentals of trading, whether books or resources available on the Internet (such as technical analysis, etc.)
Develop from your trading system to a degree that makes it easy enough
Use the capital management system, which is a necessary condition to make your trading system profitable
Learn how to behave correctly during trading (have you ever heard of controlling emotions …)
When I use the word “system”, I do not mean any automated trading systems or robots. In addition to this fact, you can never support any of the automated trading systems after they have proved unsuccessful in the long term.
Why do you worry about all this? We all know that the technical models often repeat themselves cycle after another and then we can imagine an easy way to profit from this repetition. The answer depends on human behavior in the market. Traders are always filled with contradictory feelings such as greed or fear. Even if most traders now can distinguish the usual technical patterns and have knowledge of how to follow the trend, most of the time they nevertheless leave themselves prisoners of different emotions when the market is not moving in the direction they want …
What we have said above leads us to the question: Why is discretionary trade successful?
The estimated approach consists of following Tadawul (because you will always need a system to drive your trades) built through the human eye. The Bitcoin Code trader who controls his feelings and analyzes the market objectively will have the ability to understand the market crowds represented by all traders and will be able to understand the excesses that occurred and then adjust his trade accordingly.
The ROBOT opens the trading position as soon as one of the support or resistance lines is broken or when the price reaches 38.2% Fibonacci retracement level and the other. Of course, the trader will adjust the settings of the robot he uses according to his strategy, but he will not be able to “deal” with the new market variables, for example.
The market usually tends to defeat all automated trading systems that place logical points for stop-loss or profit-taking limits. Have you ever seen the great bulls in the forex market, especially after the release of important data …
The estimated approach will never prevent you from losing. Any trader will inevitably suffer losses one day because they are by nature part of this activity. And if you do not want to lose then it would be better to try investing in risk-free areas and if you do then you will only get an annual return that will not exceed 2 or 3%.
But at least you will always have control over what you do and be fully aware of who and who leads the market and then you can determine the right moment to enter or not.
Of course, you should always have a set of rules that explain when and how to open a trading center, although you can adjust your strategy according to certain market conditions.
However, be careful because you should always be careful to apply your trading plan even while developing a trading system and managing capital. This is an important aspect of trading. But again, there are no automatic entry points. Going out of the market may be a bit different because you can limit profit taking in advance so you can exit the trading center automatically. You may develop this in accordance with your capital management rules.
I hope that you have been motivated by the desire to become a true trader using the discretionary approach and away from automated trading systems that will never work with you in any way. Trading will be great only if you give yourself the real means to do it properly.