Forex Trader Training
Forex Trader Training - Getting That Trading Edge by Harold Hsu
If you've done your homework on retail Forex trading, you'll come to
realize that the market is geared to make you lose money.
The big financial institutions around the world have all the necessary
human talent, technology and resources to 'hunt' for your money, and
let's not forget the smaller pip spreads that they enjoy. Add to this
the fact that many brokers have been known to trade against their
clients (i.e. taking opposing trade positions), and you'll have every
reason to fear for the loss your money.
Play to your strengths
That's why it's important that you have an edge in the way you trade to
balance the field. You'll need to take advantage of your position as a
retail trader, to avoid falling prey to the big institutional traders.
Play to your strengths as a retail trader!
Strength #1 - No Pressure To Perform
Unlike institutional traders who are constantly under pressure to
perform, retail traders (like you and me) have the luxury of
cherry-picking the trades with the highest winning probability. The idea
here is to enter into fewer, but more potentially profitable trades.
The more traders you enter, the more chance you give the institutional
traders to take your money. Don't give them any such opportunities.
Strength #2 - Small And Agile
Unlike institutional traders who have to trade with hundreds of
thousands of dollars (or more), retail traders typically trade with much
smaller amounts of money. This enables us to suffer from less slippage
and gives us the opportunity to ride on most price trends, since our
trades generally won't influence prices.
This means that retail traders are able to quickly enter and exit the
market for small (but quick) profits. This is an area where few
institutional traders can go. Because of the sheer size of the funds
they trade, institutional traders rarely have the opportunity to move in
and out of their positions quickly. Use this to your advantage.
About the Author
To learn more, download my free 26-page guide here: "Forex Trading
Traps!"
Harold Hsu is the owner of www.ForexSystemProfits.com where he provides
premium Forex trading tips and resources.
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