Do you think there’s perfection for trading? Even if the traders like to perfect their trading method or strategy it will end up in a negative way. If you are in the trading industry you shouldn’t hope for perfection because it is not possible. You may have to do a lot of research, a lot chart-watching and much more. But it is never good trade more than the required amount. If you try to trade too much it will end up ruining the trading journey. However, most experts don’t try to trade whatever they see rather they spend time in understanding and learning the market. Actually, for someone who has just started trading it can be hard to accept the fact that perfection is not good in trading. But it is the truth, if you try to perfect, things might end up in the worst form. According to experts in United Kingdom trading with perfection reduces the rate of success. You may spend your time in perfecting the strategy or the technique but what are you missing? You are missing the good trades that are visibly available. So this kind of behavior directly affect your trading journey. There are better names for perfect trading and they are over-analysis or over-thinking. Don’t you agree? It is okay to be afraid the market because it is natural. Nevertheless, you should understand that CFD is a fertile market, you cannot expect everything to happen according to the way you want. So what should a trader know if he is trying to trade perfectly?
The market cannot be controlled
As a trader- be it a naïve or experienced there is an important thing that should be understood i.e. you cannot control the market. If you try to do so the cost would be on you. However, some traders still believe that they can succeed in CFD trading by controlling the market. Due to this kind of behavior, trader struggles to think straight about good trades. They miss the good trades due to assuming that they can control. First off, you should stop focusing on everything and be assuming everything is controllable. Second off, it is not possible to know every direction of the market. Based on the things happened in the past you should assume the market movements that would happen in future. To understand the market, you should digest the market details, news, and other factors.
Trade with rational logic
You have to understand losing is inevitable in currency trading. You might have an excellent trading strategy but you can never avoid losing trades. So be prepared to embrace losing trades on regular basis. You need to use the leverage in your online trading account very efficiently. If you find trades with tight stop-loss increase the lot size without being exposed to high risk. Learn to trade with variable lot size to maximize your profit factors in the Forex market.
There is no guarantee
You wouldn’t know what happens in the market with 100% guarantee until something actually happens. As traders what you try to do is to make profits in an inconsistent environment. If you are new to the market this can be pretty hard as you wouldn’t have the proper understanding. To make profits you should handle anxiety and fear when you are in the market. So if you try to create the perfect plan or strategy, you would fail because it is not possible.
Do not deny
Usually, any person would deny when something he doesn’t like happens but it is not the wise move. There are certain things in the market that would make you deny. For example, if you have planned really well and if the trade that you entered wasn’t as you expected, you may deny. But for how long are you going to deny? So don’t try to be a perfect trader.