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Many people are attracted to the Forex Trading market because it is made to look so glamorous. They see it as a way to join the smart and rich sets depicted in the movies and in novels. You have to keep in mind that the movies are not real life and they are supposed to make everything seem better than life. If they didn't do this, who would ever pay to see them?
Many forex traders do live the fantasy life. But this is not the standard and until you pay your dues you should not expect to join them. Even some of the successful traders become so stressed out that they wonder whether it is really worth it.
The biggest reason for high stress in forex trading, or any trading for that matter, is emotion. It is easy to let your emotions dictate when and what type of trade you do. But emotional forex trading only leads to a lot of second-guessing. It is good to review what you have done and every forex trader needs to track his/her results. However, this has to be done strictly with the goal of improving your performance. It is when you review your trading results with a lot of hand wringing and "if onlys" that you become stressed out.
You cannot be a top forex trader and be worrying every minute if you are interpreting the trading signals correctly. This only leads to dissatisfaction with your trading and with life in general. The usual result is that you then spend more money on another course or book that will guarantee trading success.
But it doesn't. You end up trading subjectively, just like you always did. And you get the same results. You increase your wealth a little and increase your stress level a lot.
So, are all of the movies wrong? Can anyone really join the rich and famous by forex trading? Without the worry of a stroke?
Yes, you can.
There are forex traders that actually ignore any type of standard indicator. They don't worry about vague chart patterns, pivots, support or resistance levels, oscillators, fibonacci, trend lines or any other trading tool. They eliminate these subjective tools and pretty much eliminate the stress.
What do they use? Many successful forex traders are now using strategies like those developed by veteran trader by Avi Frister. In his current course, "Forex Trading Machine", Frister reveals three of the strategies he has been using to enjoy success attained by only 1% of forex traders. Taken together, he calls his system the Price Driven Forex Trading method or PDFT.
The three methods he teaches are the Forex Cash Cow Strategy which is a swing trading system and the Forex Runner strategy and Forex Flip & Go. These last two are day trading strategies.
Forex Cash Cow is designed to take advantage of a unique swing trading opportunity that occurs several times each month. The strength of this system is accuracy.
Both of the day trading strategies are designed to take advantage of certain market opportunities that occur every day in several different currency pairs.
The real advantage in any of Fristers' strategies is that they are purely mechanical. They require no judgement or discretion on the part of the trader. The Forex Trading Machine is suitable for even the inexperienced trader as well as veterans in the forex market. He reveals not only the techniques to use but the logic behind them.
Applying the PDFT strategies produces results without the stress associated with usual methods of guessing where the indicators are heading. You can learn more about Frister and his unique forex trading system by going to http://www.onlinetrading.delect.us/forex-trading-machine/. This may be the system you're looking for.
Gerry Marsh is the owner of http://www.onlinetrading.delect.us which covers all aspects of online trading. His blog, http://www.onlinetrading.delect.us/blog, also includes feeds from other authors.
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
or organization.
