I am a forex player
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If you trade the forex markets regularly, chances are that a lot of your trading is of the short-term variety; i. From my experience, there is one major flaw with this type of trading: h igh-speed computers and algorithms will spot these patterns faster than you ever will. When I initially started trading, my strategy was similar to that of many short-term traders. That is, analyze the technicals to decide on a long or short position or even no position in the absence of a clear trendand then wait for the all-important breakout, i. I can't tell you how many times I would open a position after a breakout, only for the price to move back in the opposite direction - with my stop loss closing me out of the trade. More often than not, the traders who make the money are those who are adept at anticipating such a breakout before it happens.

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I am a forex player

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Successful Trading Affirmations - Trading Meditation

Professional status as a forex trader takes years of commitment and is backed up by clearly-defined strategies that show consistent profitability. What Type of Forex Trader Are You? · 1. The Day Trader · 2. Swing Trader · 3. The Position Trader. Review the four types of trading styles and see which trading style matches you: scalping, day trading, swing trading, position trading.