Trade Forex Like a Sniper to Be Profitable




is forex profitableFew days ago, I watched a movie. In that movie, there was a female sniper that got my attention. I was charmed by her skills, patience and her decision making abilities.

Funny enough, one of the ideas that came to my mind was “this lady must be a forex trader” I know it sounds funny? But right inside of me, I knew if someone like her should trade in the foreign exchange market, then she will be a very profitable trader.

After that movie, I had to do a little research about snipers and what they do (we all know they kill) but I wanted to know a little more. And I got my answers.

According to how stuffs works  “A sniper is a highly trained soldier who specializes in shooting targets with modified rifles from incredibly long distances. They’re also adept in stealth, camouflage, infiltration, and observation techniques. ”




I believe you would be asking “how does this relate to forex trading and how does this make me profitable or a better trader?”

CHECK OUT — Why You Should Stop Arguing With The Market If You Want To Be Profitable In Forex.

Let me explain

is forex profitableThe sole purpose why we spend a good amount of our time looking at the forex charts, reading forex news, opening an account with a broker and even reading this article is to make money whatever reason apart from these ones I just mentioned  are of  low importance to a forex trader being profitable.

A successful forex trader is just like a sniper and should possess the following qualities I am about to explain in details shortly.

How many times have you ever stayed a week i.e. complete 5 days without placing a single trade on the market, without fighting the urge to trade? If you can do this, then welcome to the financial sniper’s club as I said in my one of my articles “over trading is the quickest way to blow your account”.

Let me tell you what we should learn from a sniper that will increase our profitability

Training:

From the definition of a sniper, we can see that a sniper is highly trained. We aren’t just talking about a two days training or some few weeks of training but months of theoretical and practical training.




Individuals just learn a thing or two about forex and claim they are gurus, going to public forex forums proclaiming their self a professional trader – if you are guilty of this, you need to repent.

These people lack the fundamental knowledge to be profitable and thus their downfall begins. Training in the forex market is a life time task and as the market changes due to its dynamic structure so should the trader. The way the forex market moved 10 years ago isn’t the same as at today.

Specialization:

Specialization is the act or process of becoming specialized in a particular field, career etc. Which market are you specialized on as a trader? A sniper isn’t an infantry or a grenadier. A sniper has its own specialized field, duty and role in the military.

is forex profitable




There are traders who specialized in the trading of stocks, bonds, Treasury bill etc. and also some who trade currencies. Most people get confused and want to try their hands in all financial instruments there broker can offers.




Pick a field in this financial market, I will take myself for an example I trade the FOReign EXchange (FOREX) market only and if I want to venture into stock I will do that gradually while learning the concepts.

DON’T FORGET TO READ — What Are The External Barriers in Forex Trading

 

Observation:

This is one of the characteristic of a sniper that gets me amazed, there ability of lying down and observing before pulling the trigger. This is the same ability I want all forex traders to acquire- PATIENCE.




Being patience and waiting for the right moment to enter into a trade is what gives you the money. This is one of the secrets of professional trader. No one makes money by rushing into the market. As I always say “the market will always be there” so there is no any need to rush and get your hands burnt.

In conclusion, the forex market is very profitable and I am saying this from experience as a forex traders. I once make 39% of my account from being patience and waiting for the right set up before I pull my trigger. Though there are other who have made more than this but most of them got sweep off their feet as I always say “trade to survive for tomorrow”.

I would like to hear from you, please do comment below and share this post with your friends and family.




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