Strategy learning – one at a time
So you want to become successful and make a lot of money? Of course, you do. There are many strategies that you will need to use, and some take more time than others to learn. Dedicate yourself to one goal and make it happen doing whatever it takes. The beginning is always hard but do not be discouraged as in time you will clearly see that you are making progress.
There is no substitution for hard work, this is a fact and you can ask anybody that has done something great in their life, the answer will always be the same: Work!
Discard everything you think you know about markets, action price and forex trading. The best way to start is with a clean slate. When learning something new take out all the preconceived notions that you have acquired. You will see that it makes the learning process easier as you can focus on the strategy at hand and leave all failures behind. This will create a new perspective of the market and trading, leaving what you thought you knew behind.
Give yourself time, learning one strategy and mastering it will take months if not years. But by doing so you will become more disciplined and objective, these two qualities are a must if you want to be successful in the art of forex trading.
You will learn a strategy and by doing so will become more in tuned with the markets as you will clearly see if the shifts that markets make are in your favor. The two qualities will also reach out and influence other areas, and you will become more patient, this will help you get through tough trades and also keep you focused. You have to keep it simple as focusing on more strategies will put you in a spot where there is too much data to analyze and that is a losing strategy.
This is the key when it comes to making money. It is that simple, as you gain more knowledge in one field you will know when good trades appear and when to stay away from bad trades. When you do something, over and over again you are bound to get better and learn from previous mistakes. Being passionate about trading and staying focused on one strategy means that you can pour all your might into that project. It will make the things you want happen sooner, and you will also get a better result. Get specialized in one price action setup and become a source of information for others, when people will come to you asking what to do you will know you have mastered it.
Make it happen
Stay focused on just one price action setup and think about that one alone. Do not get distracted by others or by the market itself, just think about that one strategy alone. To make sure you got it a right try and kept a journal of your movements and go over it to make sure you are where you want, and that you have improved.
The most important thing is that the setups come together in a strategy, and you have to manage the strategy from entry to exit in the right market conditions.