Chasing a Forex Trade
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When the Forex market starts to move it is easy to get a rush of adrenaline and the desire to place a trade. I am sure many of us have chased a trade in the early days of trading only to find out that the market turned and came back against us. After a couple of whip saws we have lost some money and are frustrated. When everything calms down it is easy to see that there were no signals and if we would have waited for the proper entry signals we would have been able to make some good trades.
One trader said to me what goes up must come down and what goes down must come back up. That is very general statement and is very true when we make a mistake. I do not like to rely on this type of thinking but it does cause one to think about what the market is going to do.
The thing to pick up here is enter and exit the market on good signals and you will be better off in the long run.
Topics: Disciplined Trader, Entry Signals
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