Forex market is full of money but still, traders are losing their money. If you have ever wondered why traders are losing their money, you probably know the answer. All of the traders in the Forex market are greedy and they want to make the profit in every trade. They forget that every trader loses and they want to take each pip of profit from the trend. If you are trading with them and want to take the profit whenever you see a good trend, you can never make Forex trading profitable. This article will not explain the psychological trading of the traders but why traders who are slow in Forex make money. These slow traders are patient and they know when to hit the market for a jackpot.
If you do some research on the professional Aussie traders then you will find one thing common in them. Every single one of them exhibits an extreme level of patience in the financial industry. On the contrary, the novice traders are always trading the market which is known as overtrading. Overtrading is one of the major cause for which the new retail traders are losing tons of money in the financial industry. You need to gain control over your emotion and filter the best possible trade setup in this market. It’s true that the early part of your trading career will be extremely hard but if you devote yourself in this field then it’s just a matter of time to develop your trading skills.
What is this jackpot?
We have been expecting this question from you when you have read this article. The jackpot is not the Forex Holy Grail that you are thinking. It is the consistent profit that professional traders make. When all the people in Forex are making money, these traders with consistent profit return to their home with money. The amount may be small but they are not losing money. This consistent profit is the jackpot for traders that are only awarded to the patient traders.
Never think that the market will give you golden trading opportunity only for one time. In fact, the best trade setups that you find in your trading platform often hits the potential stop-loss price. Nothing is certain in the financial industry and you need to deal with the probability factors to become a successful trader. Learn about the proper trade management technique so that a few losing trades don’t ruin your trading capital. Many new retail traders often trade in a high leverage trading account but this is really very dangerous. You need to understand that this market is only for the experienced professional who knows the perfect way to manage their risk. So start trading will small lot size and never risk more than 1% on any single trade.
How can patient traders win the jackpot when they are slow?
Have you ever traded with a slow trader? You may a big shot in Forex and can make a lot of money but you have to do it all the time to make the consistent profit. Most traders with consistently are slow traders. Other traders abandon them thinking they will slow their trades. They are the traders who are patient and they are making money. They are not slowing your trades but they are placing their trades when they know they can win in Forex. If you are trading in Forex and think that you will trade patiently, you can see the change in your profit. You will make more profits when you are patient.
They have better ground against volatility
Patient traders have a better ground when this market is becoming volatile. They know this volatility will be gone and they need to keep their trades open. This patience awards them with the jackpot in Forex when other traders are losing their money. To win the jackpot, you have to be patient n Forex.