I understand (from reading the lame forex sites) that one reason traders close a trade or a basket is mental exhaustion. Basically they get tired of waiting for the price to hit their TP or SL.

Well, if you’re one of them, stop trading now. Really. If your mind can’t handle it, your body will not be able to execute it and in conclusion you cannot do it. In forex, you will lose money instead of winning, so why playing the game?!

Above is my opened basket on USDCHF. A few trades are opened. I have absolutely no problem leaving this over night. In fact, the basket is 2 days old already. As you can see, I’m hedging using the RobotFX Fluid EA.

I remember a good trader writings on the web, but not his name unfortunately. He was saying that if you cannot sleep (’cause of the opened trades) in the night, you should not trade. He was right. This “mental exhaustion” translates into your inability to do this… so if you cannot do it, don’t try to do it again and again.

Image

Why none of the winning strategies on ForexFactory works for me?

You might have asked yourself a few times.

Well, strategies are born from an idea, an opinion. And we all know that “

Opinions are like assholes…everyone has one”.

Long story short. A forex trading strategy will serve the trader who designed it and maybe… just maybe a few other disciplined enough (or brainwashed, sometimes) to follow it without questioning. That’s because trading is a little more of a mental game than you may think.

Your perfect strategy has to be one built by you, for you. It must suit you and your way of thinking/trading. That’s why professional traders always say to stick to a strategy and improve it.

It is better to just pick a strategy, anyone, and try to adapt it for you… even if the result will be completely different, instead of changing your forex trading strategy every week.

Why none of the winning strategies on ForexFactory works for me?