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Bring the idea to the trading process – Forex for beginners from scratch


Spring warm greetings to everyone! Today we’ll talk about how real to translate an idea into a shopping process… Rather, to what extent our ideas are of practical value for trading in the markets. Each of us, analyzing price charts, notes important and key points for ourselves. It would be nice to open a long position at this point if you know that the price will go up. Many people have ideas on how to determine the ideal point to enter the market. Not all ideas are good and can be effectively used in trading. But still, sometimes the product of our mental activity can give a result. And how to determine if a good idea has come to mind, or is it not worth considering?

Turn the idea into a shopping process

The right motivation

Before engaging in any kind of activity, we carefully consider this issue. Is it worth doing this, what is the practical benefit of this, what are the possible risks? Both in everyday activities and in trading, every step must be thought out. Reckless actions, as a rule, lead to losses in trading. But careful planning does not always lead to the desired result. It is natural for a person to seek the best conditions for work, rest, life. Sometimes temporary failures are prompted to think about how to fix them. If the trader manages to consistently make a profit, he will not think about improving the results. It’s another matter when a losing streak begins after a profitable trade. All brain activity is aimed at eliminating the problem. Although it is possible that the trader just wants to improve performance.

Identifying patterns

Any ongoing process consists of certain patterns. Price movement is also an ongoing process. Every trader tries to find a pattern in the price movement in order to make money on it. But failures in trading also have their own patterns. Having identified a pattern, each of us is looking for ways to use it or prevent it. It is at such moments that our brain generates a huge number of ideas. They can be banal, not practical, but they can also be brilliant. For example, let’s take a speculator who has already lost more than one deposit. He has been looking for tools for a long time to find the perfect entry point to the market. But suddenly I realized that I needed to try not to look for an entry point, but to manage money correctly. This fundamentally changed his work in the market.

Selection of ideas and practical use

Every idea has a right to exist. But not every one of them is applicable in practice in trade. In any case, if an idea has appeared, it deserves to be worked out. It so happens that some trivial indicator can give an impetus to a trader to create a profitable strategy. And the constant presence near the trading terminal pushes speculators to create trading robots. The idea needs to be thought over before trying to apply it in real trading. Attempts to fundamentally change your performance by applying a fresh idea often end in failure. Markets don’t like hasty decisions. It is better to work out the idea on a demo or cent account. And how good the idea was, you can see from the results of the accumulated statistics.

Respectfully,

Vitaly Pryadko.

March 19, 2021

Moris Akline
About author

Speculative operations in the foreign exchange and stock market. Work with futures and indices on CME. Work on FORTS and RTS. Development of portfolios and investment strategies for clients. Knowledge of technical (price charts of various types, indicators and oscillators, trends, channels, support / resistance levels) and fundamental analysis, take note of news. I work according to my trading strategy in compliance with the rules of capital management and risk management. Development of trust management strategies. Technique of order execution, placing and changing protective stop-losses, hedging.
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