To succeed in the Forex markets, traders need to find the strategy that fits their personality. As well, they need to be nimble and aggressive, picking the trades that offer the most profit potential whilst making sure to minimize the risk of loss.
If you look at a number of the Forex systems on the market today, many of them have ‘war’ type names, such as ‘stealth’, ‘crosshair’ or ‘pip-hawk’. In the same way, some traders attempt to trade Forex like a ‘ninja’ or a ‘sniper’.
It’s interesting that such names have become associated with Forex trading. The reason must be to do with the fact that Forex trading is a battle. A seemingly endless daily battle between profit and loss that can cause havoc emotionally and sometimes physically.
A Guest Post by FXTM
Of course when it comes to making money in Forex, it is much better to trade like a ninja or a sniper than it is to trade like an officer leading from the front.
Engaging like a sniper
Forex trading requires an innate ability to pick off the winning trades, just as a sniper picks off the enemy.
The soldier on the front line who goes out with all guns blazing may occasionally take out a big score, but do it too many times and we all know what the inevitable outcome will be.
The sniper, on the other hand, waits for the enemy to come to him. He shows great patience and commitment, knowing that if he sticks to the shadows, only exercising his skill at certain moments, he is maximizing the chance of his own survival. In such a way, the sniper starts building up a number of high profile and rewarding kills, slowly building up his proficiency in the fight.
Trading from the shadows
It does not take a genius to see why it is good to approach the Forex markets like a sniper. Being patient and waiting for the precise, best time to trade means that only the best signals will be taken, those that maximize the risk:reward and in turn, the prospective profit potential.
Picking off the right trades leads to a slow and steady build up of profit and capital which can then be used to exponentially increase wealth.
Because, if you don’t trade like a sniper. If you are not skillful, cunning and disciplined, you will most likely end up running out of ammunition.
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