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You can exercise control and self control when trading, two concepts which will have a tremendous impact on the progress you make as a forex trader. Using the various controls you have to trade will ultimately determine your success. It would be delusional to believe you can control market behaviour, similarly it would be fantasy to imagine that you can always predict market direction correctly. Once you accept these irrefutable facts you can begin to develop a long-term successful strategy.

Entries and exits

A forex trader can control when they enter a trade and when they exit. They can also choose to stay out of their chosen markets until the conditions are right, in order to justify entering the market.

What markets to trade

A trader can choose what markets to trade and how many securities to trade. Do you decide to trade FX exclusively, or do you trade equity indices and commodities also? Do you only trade the major FX pairs? The choices and the control you exer...


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