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Do you trust the gut feeling when trading Forex
posted Feb 16 '18 by adamsmiths
Do you trust the gut feeling when trading Forex
The Singaporean traders have the understanding of how the market might work so they trade successfully. If you cannot trust your gut feeling how can you become a pro trader? You should have the ability to rely on the gut feeling as it helps to trade successfully. Most of the naïve traders do not focus on the gut feeling rather they just trade hoping that market would offer profits. Actually, the gut feeling will not come out of anywhere instead you should improve it through experience and hard work. If you become experienced with trading you will be able to anticipate the market easily so your gut feeling will signal whether or not into the trade. So the gut feeling will be decided upon the level of experience the higher the experience the stronger the gut feeling. The naïve traders might get confused with the term ‘gut feeling' so for the naïve traders they can consider it as ‘anticipation of the market'. You should be able to anticipate the market if you want to become a pro trader. There are many factors that increase the power of anticipation that we will be discussing in the article below. Let us read. Shall we?

Emotions will cost you
Being a currency trader, the first think you need to control is your emotions. The majority of the traders in forex market gets emotional in their trading thus place big lot size trade. But do you really think this is the perfect way to trade this market? Trading is considered to be the most sophisticated business in today’s world. You need to have a strategy to place a trade in favor of the long-term market trend. Having access to the online trading industry doesn’t mean you will become rich within a short period of time. You have to learn the art of technical and fundamental analysis to become a pro trader in this industry. Always trade this market with rational logic and lock down your emotion in a steel box.

The more you practice the stronger the gut feeling becomes
If you look at a trader who is highly successful in trading it would be obvious that he is a person who practices. If you don't practice trading it will be really difficult to trade. Through practice, you will be able to understand the mistakes that you have made and you will be able to correct it in the long run. The time you allocate for practice has a crucial part in your success so basically, you should demo trade for some time if you want to become a pro. In an online trading platform ( https://www.home.saxo/en-sg/platforms ) , you will get access to all the kinds of trading indicators but that is not helpful because if you do not know to anticipate the market, how can you use the indicators? So, if you practice trading you will be able to understand what the market might offer next so basically it all depends on the level of practice.

Gut feeling makes you take right decision
The gut feeling will not work better for naïve traders as they have no experience in trading but for the professional traders, it will. Sometimes they might gain larger profits even without knowing that they had taken it but it is due to their gut feeling and the practice. Sometimes you might not even understand what you are looking at but the gut feeling will clear it out for you. So all these actions are related to the level of practice you have in trading.

Be optimistic
There are times when even the gut feeling goes wrong so in such instances you should be optimistic. If you do not have the positive mindset you will not be able to trade the market successfully so you should bear in mind that whatever it is you should not let go of the Forex market. You should be persistent in trading.

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