Let's face it. Most of us want to trade everyday. Most of us want to be right every single time. We all want to make money from all of our trades. But is that what really happens? Do we always make money from our trades? Are we always 'right' in terms of trading?
Most of us trade like a machine gun. Use dozens of bullets but not all bullets hit our target. That is how new traders think about trading. They think the more trades they take, the more money they make. They take hundreds of trades in one day, hoping to be 'right' 100%. Let's be real. If you take 100 positions, how many of them are winning trades?
Now, imagine if you are a sniper...
You stay still and wait for your target. Your patience is the key. You don't carry many bullets like a machine gunner, but you definitely HIT the target! Imagine if you have only 10 bullets but you can hit 10 Targets! If you see Forex trading with this perspective, you WILL trade and think differently.
You will be so patient, trade only a setup with high winning probability. Think about it. Which one you prefer? Taking 100 trades or 10 trades? Both make the same profit. I would definitely take only 10 trades. Less trading time, less effort, less stress. The thing is not all traders think like this!
Less trade is obviously more boring. Many traders think that they always have to be in the market. Results? Taking low probability trades. Trade just for the sake of it. Trade because 'I have not been trading for 2 days', trade just because 'I need more money', etc.
I am not saying here that taking more trades is not important, it really is important. But we have to understand that taking more trades does not necessarily translate into more money in your account. We need to accept the fact that we can always lose money in Forex trading.
So, the truth is we can't be right all the time. We can't make money all the time either. But one thing for sure, if you reduce the number of trade you take and focus on trading good setup, you will definitely see improvement in your trading.
Let me know if you have any thoughts in comment section below!