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Saturday, February 11, 2012

Just Set And Forget Your Trades To Avoid Stress.

English: This is the logo of Global Forex Sign...Image via Wikipedia
By Dmitry Vasenyov

Trading Forex in long time frames is considered to be advantageous. Therefore traders executing deals within these time frames normally make more money than other traders. So it makes sense to hold trading positions for a long time. You only need to open a position and let it run its course. Having set a trade you can move to other affairs. Spending a lot of time before a computer monitor is definitely a wrong approach to currency trading. Nobody can take control over the Forex market. Therefore you shouldn't waste your time. You can actually pay just a bit attention to Forex.

Attempting to find an ideal trading system will only result in wasting your time. In my opinion you'd better find indicators that you really understand and stick to them. You need to set your trades, place stop and limits orders and then leave.

You should have a solid written trading plan. It's that basic trading tool you can't do without. Your trading plan should include clear management rules as well as proven trading strategies. Having created a trading plan you only need to spend for about an hour a day to check the Forex market for potentially profitable trading opportunities. When you spot an attractive one you should place a trade and set stop loss orders. Having done this you can simply enjoy the day. So let the Forex market do what it's going to do.

The Forex market provides us with plenty of profitable trading opportunities. So don't get frustrated if you miss a potentially profitable market situation. The main thing is that you haven't lost money. And you'll take another chance. Don't hunt for too many opportunities to make money because it's the easiest way to lose.

By the way professional Forex traders stay away from day trading. They simply don't want to expose themselves to stress. Perhaps it makes sense to follow them as it's a really rational approach to Forex trading.

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