Monday, August 1, 2011

Trading Forex Like A Sniper

A sniper in the military has an edge over his or her enemy; their edge is unwavering patience, mastery of their weapon, and the ability to remain consciously in control of their mind and body for long periods of time in high-stress situations. We can apply these same concepts to Forex trading…

Forex trading is very similar…you need a trading edge (weapon), you have to master this edge, you need to develop and maintain rigid self-discipline and control, and you have to execute your edge flawlessly in the face of constant temptation to over-trade and over-leverage. Now, trading is nowhere near as stressful as war, but it still requires conscious control of mind and body.

The above quote is from a recent article by Nial Fuller. The article was one of his best. It discusses why learning to trade price action like a sniper instead of a "machine gunner", is the best way to trade.