The Best Forex Trading Strategy

The Best Forex Trading Strategy
So, you've done your homework, researched your favorite
currency pair, found the perfect setup and executed your
trade according to your forex trading strategy. You know
this is one of the best forex trading strategies you've
seen because you've been paper trading and back-testing it
for weeks. Now it's time to go live. You're ready to start
trading your hard earned cash with this puppy.

You feel confident because you've seen this setup before
and know the odds are in your favor. You execute the trade
and let it run. After a few hours, you get stopped out for
a loss. No big deal. You knew the risks. You're a little
surprised this trade didn't work out, but you look forward
to the next trade. You know losses are a part of this
business and part of the overall winning process. Your next
trade is sure to make up for this loss.

You're still very confident in your forex trading strategy
so you make your next trade and you rack up another loss.
This one made you feel a little worse than last time
because you were sure this would be a winning trade. Moving
on, you find another trade setup and get into a new trade.
It's going great and you're moving your stop loss more into
profit. You're 20 pips from your ultimate take profit
price, but out of nowhere, the Euro zone makes a surprise
news announcement that they may cut interest rates earlier
than expected. Just like that, your trade moves in the
other direction and stops you out for a measly 5 pip gain!

You feel the trading gods are against you. Worse than that,
you start getting down on yourself and second guessing your
forex trading strategy. You know this trading strategy
works. You tested it and tested it again. You promised
yourself you would trade at least 10 trades, but since
things haven't been working out as you planned, you decide
to sit the next trade out and just watch it. Sure enough,
it's the winner you've been waiting for. It would have
easily made up for your previous losses, but you weren't
along for the ride.

So what's going on? Your emotions are starting to get the
best of you and you're out of control. Almost every trader
has gone thru this at one time or another.

The winning trader takes control. They start working on
their discipline and stop letting their emotions get the
better of them. They stick to their forex trading
strategies because in the long term, they know they make
more money than they lose. They don't focus on one single
trade. They focus on weeks and months of successful trades.
Losing traders give up too easily and let their emotions
rule them. They jump from one forex trading system to
another, wondering why they can't make profitable trades.
They're destined for failure. What kind of trader do you
want to be?

----------------------------------------------------
Andrew Daigle is the creator and author of many successful
websites including ForexBoost at http://www.ForexBoost.com
and http://forex-trading-system.typepad.com , Free Forex
Training Resource for the Novice and Advanced Forex trader.