Is Your Forex Trading Process Stuck In The Past ?
Did you ever think that these things would be replaced to the point of becoming obsolete
?The postal service replaced with email.
Home phone replaced with cell phone.
Printed media replaced with e-media.
Exchange-traded or open-outcry markets replaced with electronic trading.
Did you know that electronic trading has changed the way individuals make money in all markets? The majority of trading techniques that are profitable today where not even around 10 years ago.
Because of electronic trading, markets have greater volatility, which means price moves faster and changes direction more frequently. There are fewer and fewer moves that are based on trend-related activities.
Conventional wisdom 10 years ago was, the trend is your friend.
Today with the impact of technology and a global economy, this is an outdated trading technique.
Dramatic market swings are now an everyday occurrence in all markets.
Technical indicators that were developed to assist the trader in trending conditions are no longer effective in the majority of today's day to day price action.
The trader who wants to be successful moving forward needs to look at these changes from the perspective of, how do these changes undermine my current way of thinking?
Not from the perspective, how do these changes help my current way of thinking?
The typical mindset is that changes in market dynamics due to electronic trading and the new global economy can be bolted to traditional old economy pre-electronic trading processes. In fact, those old processes need to be discarded.
Short-term trading or scalping was considered too risky 5 years ago.
Now staying in the market for extended periods of time is the riskier methodology, due to the instantaneous impact of changes in price direction brought on by electronic trading.
If your perception is that dramatic swings in the market are a bad thing, it is because you are stuck in the past. Regardless of the market, electronic trading is here to stay and will only continue to grow. Stop looking for trend driven activity and focus on quick momentum based moves.
There has never been a better time to learn to trade a solid scalping technique.
To learn more visit www.theforextradinginstitute.com
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