TIP: Think differently to achieve consistent profits
|You see, you can sit glued to the TV or Internet waiting for any snippet of news, or stare fixated at the price charts instead if that’s what you would rather do; but either way these are not the healthiest of practices. In my humble opinion, we have to except that no matter the amount of news we read or study of charts we engage in, none of us will ever truly know what is going to happen next, so in the long run, relying upon anything but price to tell us what to do often becomes folly. No matter how you decide to interpret the news you read about any given financial situation, when you take action you are placing your trade on your perception of the events and not the reality of price itself, and these are two very different things indeed. (...)
Doing what everyone else does typically only gives us what everyone else gets. That’s always a great point to remember in all walks of life. If that doesn’t resonate with you then maybe think about this. The only reason why markets truly exist is to give people the opportunity to make money; and the best money will always be made when you buy at the lows and sell at the highs. Read More
Do you want to learn more?
REPORT: How to trade the news - Rob Colville
VIDEO: How to Trade Against the Crowd and Make Money Trading News - Boris Schlossberg
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.