Let The Market Come To You
By: Global Prime
Tags: Forex, Broker, Trading

Written by Ivan Delgado, Market Insights / Mentor at Global Prime.

Have you ever fallen into the trap of trading out of impulsivity as opposed to executing when you are meant to? Trading for the sake of it easily and quickly escalates into intoxicating your journal with a bunch of sub-optimal trades.

Now, what do I mean by sub-optimal trades? Put simply, trades that as you analyze with the benefit of hindsight, you’ve identified as not following the rules and criteria you set out for in the first place as part of your trading plan.

If you have an urge for constant trading action, it tends to reflect in treating trading more like an adrenaline booster more than a serious endeavor.

What causes this need to jump the gun? The core reason has to do with the fact that as traders we associate trading with a sense of excitement and exhilaration, which is caused by the power of ‘money in the line’ association

If you are the type of trader that links trading to a source of adrenaline, obsessed watching your account figures go up and down incessantly, that’s a vicious cycle that you must get rid off at the earliest possible time.

Trading should be an exercise of self-control, constrained emotions, patience, authenticity, commitment, availing to one’s rules, and the list goes on. Possession of these attributes detoxes your trading soul by letting the market dictate when a setup in line with your edge is in the making vs forcing it.

But what’s a statistical edge anyway? It boils down to finding a repetitive approach to trade the markets with a positive expectancy over a large number of trades, this is what we understand as a statistical edge. You then let the law of large numbers to vindicate such premise. Easier said than done.

Now back to the subject at hand. The more you can detach trading as a source of excitement to instead perceive it as an intellectual activity that provides, as a by-product of your consistent actions, monetary rewards, the easier it will become for any trader to apply the necessary patience.

If along the way you find that you are left waiting on the sidelines without any trigger longer than you can bear, you should then start considering slight adjustments such as adding markets, lower the timeframe you trade, etc.

Keep in mind, these tweaks should be done, while you constantly figure out the type of trader you identify with. What resonates most with you? Your DNA as a trader emerges through your own journey of self-discovery. Timeframe combinations, set of entry techniques, time slots, etc. Mold it however you wish while respecting the notion of letting the market come to you.

The whole point of running a mentor room at Global Prime is that you can always contact me to help you find solutions. Trading for the sake of it is a common issue that can be addressed with the proper guidance. Be a trader that conquers this big topic of letting the market come to you vs chasing it.

Cheers,

Ivan Delgado

Market Insights / Mentor at Global Prime

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