self-discipline and control, and you have to execute your edge flawlessly in the face of constant temptation to over-trade and over-leverage. You need to be realistic about this, it will take time; it takes time to become a master at anything, and Forex trading is no different. About Nial Fuller, nial Fuller is a Professional Trader Author who is considered The Authority. Now, trading is nowhere near as stressful as war, but it still requires conscious control of mind and body. Get rewarded for your achievements and boost your trading using our special offers. Trading Like A Sniper is part of my core trading philosophy that I teach my students.
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One of the things that we traders can learn from a sniper in the military is that in certain situations less is indeed more. Those traders who learn to pick and choose their trades wisely, trading like a Forex sniper, are typically the ones who succeed long-term, whereas those traders who act like machine-gun traders by shooting at everything they see (trading too much tend to run out. However, it is very common for beginning traders to feel that more is better; more. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Topic Please select an item in the listAccount OpeningPartnership RequestApplication StatusPlatform/ProductsAccount Types/Trading ConditionsOther. You can read about our cookie usage here.
When it comes to money it is human nature to be impatient, this is otherwise known as greed, but if you dont learn to become a patient Forex trader, you will never forge the type of overall self-control that it takes to succeed. It is the initial stages of developing a sniper-like Forex trading mindset that most traders fail at, usually because they do not understand the power of patience and discipline. Accept that less is more in Forex trading. There is really no sense in ever trading any time frame below the 1hr chart since the value or probability of the targets or setups decreases dramatically as you move lower in time frame.