The Business Traders and the Investor TradersThe FX market trade is always active 24 hours a day non stop and 5 working days a week doesn't mean a trader should.On the contrary, what this means is that the currencies are in combat the whole 24 hours and 5 working days but all you have to do is to find a perfect game point and time to support a currency against the other by placing your bid period.So if this is true, do you think it would be advisable to keep placing bet the whole 24 hours while the currencies are in combat? Of course not.The reason is because, multiple bets a day/week simply means more exposure to risk and your chances of having a profitable trading week or month is affected.
This is the point where a lot of traders get it wrong. As a matter of fact, this is what a lot of professionals don't wanna reveal to the traders out there.The real Forex gurus don't just bet on currencies in combat, what they do is wait, observe and pin-point a trading activity that would have a high percentage winning when a bet is placed and that is just it! Its that simple. No any other secret than this.This are the so called investor traders.This doesn't mean they don't make loss too but you see, their losses is nothing compared to their winning.
Now, this takes me to my next point. How does a trader takes advantage of a winning or losing currency in a combat? Its simple.You need a strategy like the pros, they "wait, observe and pin-point a trading activity". And how do you do this? By creating a profitable trading system that would automatically be your informant.So you see why you cannot trade successfully without having a strategy.
So, the decision is yours.What trader would you rather be? The Business Trader or the Investor Trader? You can comment below.This is an open blog.