This is my 30 Pips a Day Forex StrategyOnwugbene.com
My 30 pips a day forex strategy has self-control as its driving force. Yes, you heard me right: self-control. Impulsive trading is one reason traders lose in the marketplace. They lack self-control in following their plan.
Approximately 90% of people in the world’s jail are people who lack self-control. Because of their lack of self-control, their energies flow in the wrong direction. Now you see that acquiring self-control can keep you out of trouble.
The mastery and control of self will help you win big in the forex market. Forex trading is a risky business and to profit from it you need this virtue called self-control.
Imbibing this trait called self-control is my 30 pips a day forex strategy. It seems simple but as the saying goes; the proof of the pudding is in the eating. Self-control is one trait you need to survive in forex trading.
The secret of my 30 Pips a Day Forex Strategy
My 30 pips a day forex strategy has a few secrets. Let me share them with you. First, the law of non-resistance is vital to success if you intend to make 30 pips a day. What this means is that you should allow the market to control you. It shouldn’t be the other way round.
The secret of my 30 pips a day forex strategy is to allow the market to tell me when to get in. In the first place, I have a plan on when to enter and exit the market. This is my plan. The market has its own plans too and I make sure my plan comes secondary to the markets plan.
I do not project or set a target price on where to take profit or even where to enter. The market has no boundaries. The sure way to lose money in forex trading is to look at the market via the lens of boundaries.
A plan is vital to success in every undertaking. Following your plan is even more important. This is where self-control becomes a rare trait. This trait holds the key to profitability. The secret of this strategy is a tip-tap thing. This tip-tap includes my plan and self-control; self-control in following my plan.
Never argue with the market. The market has the final say. My 30 pips a day forex strategy says never argue with the market. Have self-control never to argue with the market and you will win big in the marketplace.
Follow your plan and you’ll come out successful. Before I forget, the only way we measure success in this business is in monetary terms. How much you take from the market.
How to make Money Trading Forex
If my 30 pips a day forex strategy is going to help you make money then, hear this. You need to understand how the forex market works.
When prices are moving in a particular direction, it means there is a force pulling it in that direction. Until an equal or greater force in the opposite direction matches it, prices will not change course. This is how the forex market works.
This 30 pips a day strategy has helped me make money in this business because I understand the direction of the market. For example, you need to understand when the GBP/USD bottoms so you can position to go long.
This is not a business for perfectionists. As a perfectionist, your viewpoint is inconsequential in the marketplace. If you see in your chart price making higher highs and lower lows then, an uptrend is unfolding. You have to position to BUY or you stay on the sidelines. DO NOT SELL. Selling means you are spitting against the wind. You will be messing yourself up.
In the same regard, if you see in your chart price making lower lows and lower highs then a downtrend is unfolding. Position yourself to sell or you stand aside. DO NOT BUY. This is a recipe for disaster.
My 30 pips a day forex strategy does not allow me to gamble. It only allows me to follow my plan while controlling me from impulsive trading.
Charles Onwugbene, a Currency Trader with onwugbene.com
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