What you should not do when trading forex Part 3

5. Faith in the grail on forex

Cause.

Well, everyone knows this reason. Each of us has at least once heard stories that someone has developed a trading strategy that constantly makes a profit. Or you were offered a trading robot that earns space profit margins. Or you yourself, which is already wonderful, woke up one day and realized that you had come up with an ingenious strategy. In my memory, at the beginning of such a win-win strategy, I came up with 10 pieces for sure.

Above is one of my “grails”. I called the strategy, no less, “Fan Artemych U-Turn”. Yes, it was precisely such conceit that I had in those days. I think many of you have it now. But time passed, and strategies all changed and changed. One grail was replaced by another. And this process was endless. All this continued until I realized how things really were.

Possible Solution.

Here is a fact confirmed by time and huge money: the Grail does not exist. Any trading strategy will work and make a profit. But only if you implicitly follow its rules. This is really a fact. During my quest, I tried hundreds of trading strategies. And you know what strategy I have been using for the last 3 years? This is a basic trend change strategy. That’s all. One of the main lessons that I learned: the simpler – the more effective! We will talk about this separately.

6. The constant thirst for transactions

Cause.

And here we again have a psychological problem. Again, one of the most common. But if we would not even have thought of some of the previous errors to ever enter this registry, then almost all of us understand this problem, but there is nothing we can do about it. Of course, we can say that this is not a problem, but simply such a trading strategy, which involves opening a large number of transactions. But this is only self-deception. I will tell you more. There is an opinion of quite competent researchers in human psychology, which explains the appearance of scalping strategies, just the same thirst for constant transactions. As I said above, the completion of any transaction creates an emotion that forms a feeling of satisfaction in us. We like this feeling and it is logical that the brain requires a continuation of the banquet.

Possible Solution.

So we begin to delve into the intricacies of creating an individual trading method for each. What I will say later is part of my current trading strategy. So, the problem is again psychological, and therefore, it is almost impossible to neutralize. However, I still found a possible solution for myself: you need to divide the funds on your trading account into two parts – a game and a working one. They correlate with me, as 90/10 in favor of the worker.So, with the working part I solve the global problem – making a profit and creating a global positive result. And with the game part, I satisfy the needs of my insatiable brain, which constantly requires new emotions. As I said above, it makes no difference to the brain what deal you opened – the main thing is that you opened it, and therefore, it does not matter to you how much you opened it. Do you understand what I’m leading to? We play with minimal lots, and even if all your game transactions are unprofitable (and most often it is. Personally, I lose the playing part of the depot almost every month. Well, yes, I have no genius for scalping, but I am generating a positive result with the working part of the depot), this does not affect the global outcome. The most important thing is to keep yourself so that in case of loss of the game part of the depot, do not start to bite off pieces new from the working part.

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