Fighting the urge to trade

Yes... you heard me right. It is sometimes very tempting to enter into any position recklessly when staring at my dashboard. Sometimes I tell myself, I am just going to pocket 20 pips. Surely that is not so difficult right? But more often than not, going to war without a plan is simply planning to fail. In my last one year of trading, I had hits and I had misses. The hits, I mean the good ones are often the ones which I followed events meticulously, laying out an ambitious but attainable target and following through by adjusting my stops along the way.

I end this week positively. The market is still very volatile and that just means that there will be plenty of opportunities to go in again. We just need to plan. Here is an interesting read from dailyfx for the weekend if you are really keen to try out FX trading.

Why does the average forex strategy lose money