Snipers have always been known for being patient, self-controlled. They are perfect in using weapons and evaluating the situation objectively under stress. However, it turns out that such skills are valuable in other sphere of human life and activity, including Forex trading. The thing is that in order to succeed, a trader should be pretty much like a sniper. Having a winning strategy (which is like a rifle in a sniper’s hands) is not enough. You should know how to use it efficiently and be patient to wait for the right moment to take a shot and hit the target.
Practice shows that traders that act similar to snipers succeed nearly 100% of the time. Unlike snipers, that majority of mediocre traders who choose a machinegun to fire anywhere they can without aiming at the target eventually fail as they suffer from low efficiency and waste their ammo very fast. These are guys that trade too frequently and heavily.
Now, when we have figured out that the sniper approach to trading is more effective and efficient in every possible aspect, let’s find out what stands behind this approach…
First of all, you should understand and keep in mind that “less” means “better” in Forex trading. Unfortunately, many beginning traders think that the more they trade the better-off they will eventually become, which is not the case more often than not. The thing is this is actually the cause of impatience. They want more money as soon as possible. But they forget that haste makes waste. Unlike these guys, snipers know what they are doing and what their target is. They are committed to their mission and can wait for the perfect moment to hit the target for hours. Patience and prefect timing are some of the key aspects in trading financial markets like Forex as well as in other fields of human activity.
Secondly, it is al bout the time scope or time frames used to trade the market. This aspect naturally derives from the first one. Impatience makes mediocre traders and rookies switch to small-scale charts dominated by chaotic and unpredictable moves known as market noise. I bet you understand that unpredictable price moves are hard to trade. It is like using a machinegun while trying to hit the target by chance. However, the thing is that while you can certainly hit the target this way, you ultimately waste more ammo than you need, which reduces your efficiency, sometimes making your trading performance really poor and unprofitable.
With that said, hourly, daily or weekly charts are a perfect choice for those who are serious about becoming an expert in Forex trading and generating stellar profits on a monthly basis. If coupled with perfect timing, it can really boost the trader’s performance, thereby taking it to the next level.
On top of that, practice shows that most traders lose money in financial markets because of impatience. Patience and commitment are some of the things that make professionals stand out from the crowd of mediocre traders showing occasional success.
Moreover, mastering your skills along with continuous developing is what makes professionals strong and giving them a competitive edge over their rivals. Practice makes perfect! It really does! I mean you cannot become an expert and belong to the minority of the best representatives of your professional without mastering and improving your skills over and over again. Becoming a master is the ultimate goal of the entire training process. If you are not committed to your job and do not want to become a master in what you do then why start anyway? Unfortunately, most people start something new but soon give up and do not want to improve, thereby preferring to put up with mediocre results they deserve. Indeed, mediocre people produce mediocre results. With that said, there is only one efficient way to change your results – to stop being a mediocre person. This starts with changing your mindset and your outlook.
This leads us to another key aspect of successful trading. You should obviously change the way you think and treat things and people in your life in order to become successful. The right mindset and thinking can create miracles when backed by self-discipline, diligence, patience, commitment and timing coupled with the right set of tools (weapons).
This is what Masterforex-V Academy experts think on the matter. They always train their students to become patient, to set their goals clearly and to work hard to achieve them while learning and mastering a lot of new and valuable skills needed to succeed in what they do.
They assume that it is always better to look at several time frames of the same charts and relate them to each other to draw all the pieces of the puzzle together in order to see the entire picture. This is crucial for understanding the true intensions of the market, which makes it easier to follow the price and predict its next move. This is one of the ultimate skills needed to trade Forex (or pretty much any other financial market) successfully.
On top of that, you should know where, how and when to trade! One of the goals is to avoid poor trades and to select as many promising trades as possible.
Stay away from:
Entering against the existing trend without major reasons.
Trying to capture the entire move.
Trading on senses/feelings rather than sticking to your trading strategy.
Trading automatically or under severe pressure, when there is not motivation and when you are tired.
When you abandon all the heavy and inefficient weapons that waste your time and effort, you become more efficient in using other weapons of successful trading like those guys trading and coaching at Masterforex-V Academy…
