Have you ever felt like a “prey” in the foreign exchange market of the “big predators” yet? Obviously, when you first enter the market, we all start off as pitiful prey. The place you’ve just stepped into is the world of professional predators. “Predator” and “Hunter” are the words we often hear when trading in the Forex market.
On a poker table, there is always a guy who leaves with most of the chips in the table. We have 2% of the world’s population controlling 98% of the wealth. It is like a huge party for predators.
Do you feel like you are a poor victim? You and I, we all start off like that. But the next path is entirely up to you to choose. With the right mindset and a good plan, one can switch from prey to a predator.
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Hunter and prey in the forex market
Professional traders fetch money from newbies from the very beginning of trading. So in this situation, how do you defeat them? Can you get yourself a small chance?
Because pro traders hold money in their hands, they may stumble at any time. No matter how good your result or your trading history is, it can all be destroyed in the next order if you let greed and emotions emerge. And in this case, the hunter is instantly turned into prey.
In Forex, each of us is capable of becoming either a hunter or prey. And these two roles switch very quickly. Let me give you an example: Imagine yourself as the head of a one billion dollars investment fund, with lots of subordinates, technology, as well as most updated, completed, and soonest information. So with all those advantages, how can you lose?
The good news is investment funds go bankrupt every day. Guys with money, technology, and information can still lose all their money. Because they cannot always be the masters of finding the best orders. They quickly, from the position of a predator, become prey.
Becoming a hunter in the Forex market is not the hard part of the problem. That is maintaining that position for long enough to make a lot of money in the market.
Predators have long instilled that the key to victory is to do the opposite of what they did when they first entered the market and lost money. They try to get as much as possible from the noobs who they used to be.
Learn and gain experience from the encountered “traps”
To become a hunter in the forex market, you not only have to learn from your mistakes, but you also have to try to learn them quickly. If you keep repeating your mistakes, you will always be prey waiting to be slaughtered.
For example, you keep getting hit by the stop-loss although you are very patient and disciplined to wait for an opportunity. Perhaps, in this case, you put the stop-loss too close to your entry point.
Just make it wider. Surely you do not want to do this because the wider stop-loss means the volume of the opened orders will be smaller. But this is the right thing to do in the path of becoming a predator. What is better between making less money and losing money?
Keep trading means keep losing money. This is the path we can’t avoid. The difference is how you learn from your mistakes and modify them to never repeat them again. Over time, you will be a successful trader.
The prey is always more vulnerable than the hunter in the Forex market
If you’re not yet a hunter, you need to avoid getting hurt (losing money). To do this, you need a sound, proper trading plan, a good capital and risk management method, and a standard forex trading plan. They are your survival weapons.
The predators themselves have been equipped with a very good defense. You’ve probably heard this saying many times in football: “Offense is the best defense”. Equip yourself with an initiative and disciplined plan to protect the capital in your account. Then, develop it firmly in the market. Do not rush to get rich quickly.
The best ways to protect yourself in the market are to preserve and protect your account, to get prepared by mastering Forex trading strategies, and to have trading plans as well as capital and risk management plans.
Wait for a good opportunity and be confident in implementing it
In nature, predators like crocodiles, lions, tigers, etc., always extremely patiently waiting for the best opportunity to catch their prey. When the opportunity comes, they immediately exert their strength and confidently chase down their prey.
Similarly, in trading, professionals are the masters of waiting. If you’re a girl whose lover is a forex trader, he probably doesn’t complain much when waiting for you to change clothes or apply makeup before hanging out (Just kidding, haha).
As in the article about trading forex like a sniper, I mentioned the assassin trader, who would taste blood when taking action. If you trade forex with every opportunity and volatility, even small and unclear ones in the market, it’s very easy to waste your bullets (money).
Do not trade forex like a machine gunner spraying bullets into the dark forest in front of you, hoping to shoot some enemies hidden there.
In short
To become a good predator in the foreign exchange market, of course, we need to spend a lot of effort, discipline, and patience. Things that the noob, the poor prey does not have.
Becoming a hunter or prey in forex trading, it is definitely the choice within your reach.
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The post How To Trade Forex As A Hunter, Not As A Prey appeared first on How To Trade Blog.
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