2-chōme Trader Motī- no Supergaッチり FX Beginner Course | Episode 3: Develop the mindset to avoid losses

Motty-san Profile

Hello everyone♪ As before, I plan to hold this course intensely again this time. I would like to elaborate on moving averages, but for now I’ll convey this first: to acquire a mindset to avoid losses. No matter how much trading methods you learn, if you think FX has 24 hours of opportunities or you have a gambler’s mindset, there is a high chance you’ll rapidly burn through your funds. So first, let’s solidify your approach to FX!

Blog：http://motty-fx.trader.com
Twitter：https://twitter.com/motty_gaytrader

※This article is a reprint/edit of an article from FX Strategy.com July 2018 issue

FX Has 24-Hour Opportunities!?

FX markets move 24 hours a day during Monday to Friday, five days a week, so beginners in particular may think, “There are a lot of chances.” But if that’s true, it’s dangerous!! When you put money in and get motivated, you tend to believe there are always opportunities to make money.

In my case, during the first year or two after starting FX, I spent whole days thinking, “I’ll make money!” and watched charts all day, often entering as soon as there was a small movement. At that time I hadn’t learned any particular method, I just displayed Bollinger Bands, moving averages, and MACD haphazardly, and got hooked on scalping. And did I win? Not at all (laugh). I sometimes thought maybe I lacked talent. But the fundamental mistake was what I was actually doing and thinking. First, what I want to convey is that “FX does not have 24-hour opportunities” is a huge mistake. Next, “it’s better to narrow your methods to one or two.”

When you’re new to FX, you tend to trade on intuition or search for many methods. If you keep doing that, you might never win (´；ω；｀)