Sure there is an argument to say that some people "switch" between these roles. Typically it is the "leaders" that do so...
The point being is that if you are trading the Forex Market you need to be the Pilot and take charge. If you are reading this Maria, yes I'm talking about you, and kudos for doing your homework!
Maria is one of my students. A pilot from Southern Spain. Maria has had some struggles doing her homework and following the system that she was taught. But I am happy to say the last couple months she has been performing well. In her mind not well enough but that I guess is human greed. You see when she is successful and makes pips, she looks at the dollar value and says it's not enough. In the past she took more trades than she should and made impulse trades, and then lost a lot of pips and a lot of dollars.
Maria if you are reading this, your challenge has always been your willingness to take the driver seat. You know as a pilot you can't expect to do auto-pilot all your work and if you are going to fly a plane, you better not make mistakes. And if you do, then you quickly correct them.
You see that is the thing about Forex, YOU have to take charge.
You are the Pilot to your success.
- Practice, Practice, Practice! Practice is the mother of skill!
- Create a Trading Plan
- Follow Your Trading Plan
- If your System is not profitable then fix it
- If you want more profits then improve your system
OR find another system to add to your Trading Plan - Trend Analysis. Do It!
- Review Your Trades
- Learn from Your Trades. Study them.
- Review Your System. Look for ways to fine tune it.
- There is no Auto-Pilot. No Co-Pilot. It's You. Take Charge!
