We’re back at it and better than ever. In the last series of riveting blog’s, we investigated some tried and trued principles that every patron of lasting success can surely agree on.
So now a little bit of context as to what applying your time, effort and the rules of success to FOREX trading can mean for you.
Times are a little ‘out there’ right now to say the least. Near bubble heights in housing. Massive and increasing National Debt. Over-extended economic stimulus from the FED. A wild west-esque presidential election.
While nobody knows exactly what is to come as a result of the aforementioned, it is probably safe to assume that some type of economic volatility is likely in our future.
In the world of dollar cost average long term retirement investing, this is scary. In the Job market, this is scary. In the housing market, it can mean massive debt and a nation upside down in their home loans, this is scary.
In the world of FOREX, you have spent months, maybe years learning what to do with volatility. Volatility in fact, is what we look for. This can be your time to shine.
A perfect example of this happened to me this week. I entered a trade based on some standard criteria that we have used and discussed at the Fx365 Institute for years. My overall risk in the trade, ie my determined point of exit would have resulted in a 2.5% loss. A 1 to 1 risk to reward would’ve been acceptable. The trade started to move in my direction faster and farther than I anticipated. I covered the trade very conservatively for a 13% gain on my account. I wasn’t the only Fx365i trader that was in this trade, and we weren’t trading together which tells you something.
Because of what we have been learning, I was able to make judgements during the trade based off of what price-action was doing that allowed me the opportunity to have strong profit.
More future volatility means that you will continue to work at your success just as you have, but you will reap an even larger reward for being in the right place at the right time.
Until next time, Happy Pipping.