Thursday, July 31, 2014

You Don´t Need to Know Everything to Be a Good Forex Market Trader

First of all, it´s your own business, say loud ¨i´m the owner of this business, this is my single man army, no one can do this better than me¨, think about it for a minute, this is all about you, you can take the decisions, you can handle the money, you can choose what to do and how to do this, then the question ¨so how is so difficult to make profits or even to stay alive in the market¨.
Around 90 percent of the traders make themselves the question, and only a few of them go and try to find the answer, if we se the most successful traders around this community, most of them did´t study for traders, they were engineers, professors, entrepreneurs and another kind of professional but nothing related to trading, even people graduated in finance sciences get in the trading business and think they can do better because they ¨know everything about finnance¨ but they fail during their try.
The thing is not in the academic aspect, it is beyond the numeric ability or the number of trading books you read, there is a human factor that you need to develop before you start risking your money.
I call it the trading reflex, as the cat that is always curious about everything around him, we´re always testing our trading skills and challenging to a point that we are not able to reach, basically for that reason is that the human been has been able to transform the fiction in reality though history, but the thing is that these people didn´t took decisions just for testing the results, they had a huge basis behind these decisions and critically analyzed the results every single time.
The trading reflex is conformed by the ability to detect the different movements in the chart and compare these movement with older trading experiences, a trader with a trading reflex skill doesn´t need a manual to detect a certain type of formation, his only manual is his brain and once he observed the charts for years the signals just flows of a natural way, he doesn´t need to watch an indicator or do some numbers, his ability makes him see the naked charts and identify the movements as a mechanic detects an engine fail with just hear the engine running for a minute.
There is the point in observing the charts over and over, it´s not a theory, it's a fact, the human brain develop a superior ability in a specific activity when it´s familiarised with a repetitive and constant task developed during a considerable amount of time, so we can appreciate extremely skilled professionals that can fix a problem without consulting a computer or manual.

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