Concentration is the main part of this business. - page 2
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Well, I wouldn't say, that the concentration is actually an absolute key to success. don't get me wrong, it is important to stay focused, but you have to draw the line that you don't want to cross. When you become over concentrate on some specific point, you might miss something bigger and important. Let’s say, while analyzing indicators, you didn't pay attention to Angela Merkel speech, where she said that Germany is leaving EU. Not a best time to buy euro isn't it? Even if the chart says that it is.
Concentration is indeed important in this trading business however we should always concentrate on things that matter such as following plan, emotions and money management. Being too concentrate on market may consider another disaster in trading. It turns out become over-trading, over-analyzing, analysis paralysis. We have to do our homework before entering the market, set a plan and trade it. After we are in the trade, we should forget it. As the saying "Don't worry where the market will do, worry what you are going to do when the market get there."
Trading should be done with proper concentration in Forex so that trader will be able to earn good and consistent profit. With proper concentration we will be able to achieve our targets in Forex.
Concentration is the best way to prevent possible losses in trading currency. If we can't stay focus to our trade I think we should need to exit for a while to protect our trading account and to make a clear decision in analyzing a chart.
Totally agree with you and discipline is very important
Concentration is indeed important in this trading business however we should always concentrate on things that matter such as following plan, emotions and money management. Being too concentrate on market may consider another disaster in trading. It turns out become over-trading, over-analyzing, analysis paralysis. We have to do our homework before entering the market, set a plan and trade it. After we are in the trade, we should forget it. As the saying "Don't worry where the market will do, worry what you are going to do when the market get there."
I quite agree with you: set a plan and trade it!
Yes we need much concentrations for market analysis and specially for open positions. We should aware of every movement what is its impact on our capital. In this way we can manage it on time avoid big loss and gain reasonable sure profit . If we loose concentration we can loose our amount.
Did anyone tried meditation as a way to increase concentration?
I'm not so sure about taking concentraion that seriously, I'm sorry, maybe i am at the lower level than you guys, but i like to listen musik during the trade and be relexed instead of overfocusing on each tick.
I'm not so sure about taking concentraion that seriously, I'm sorry, maybe i am at the lower level than you guys, but i like to listen musik during the trade and be relexed instead of overfocusing on each tick.
Did you try to sit with your eyes closed and trying not to think about anything for about 10 minutes, while listening to calm music?