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Why patience is needed in forex trading

admin~13.02.1954/Forex

A military sniper’s edge is not only crucial, it’s also extremely extensive! Why patience is needed in forex trading distance, selecting camouflage, preparing a suitable location, making sure that the rifle is well-sighted, having the correct mindset and showing patience are just some of the components that help form a sniper’s edge in the field.

Without it, there could potentially be fatal consequences. Fortunately, for us civilians we don’t have to deal with the stresses of conflict. Are you impatient, greedy or fearful when money is on the line? This is something that needs to be addressed. Whether this be technical or fundamental, or even a combination of the two, this will have to be back tested and forward tested before an edge is considered present.

Without preparation, life for both a trader and the sniper would be extremely hazardous. While the sniper prepares location, selects appropriate camouflage and makes sure the equipment is well maintained, the trader, assuming that a technical formation is used to trade, will typically prepare using the charts. Also of note, we believe it prudent to always be prepared for what economic data may throw your way. A high-impacting news event can, and usually does, run through most technical levels. Remaining vigilant of the entire picture in the markets is a crucial segment within a trading edge. Without having absolute confidence in the equipment, the operator would likely hesitate when it matters most.