Straight Talk for Traders: Understanding What You CAN Control

Straight Talk for Traders: Understanding What You CAN Control
November 18, 2014 Market Traders Institute

Article by Chris Pulver published on Equities.com

Image courtesy of Equities.com

How often have traders been vexed with the pressing question, “should I follow the news or should I follow the charts?” The answer leaves most traders grasping at straws because neither answer appears to be 100% correct; the lines are too blurred and the interpretation is too gray. If we choose to only follow the news, we may see how interruptive or disruptive the news can be to a trader’s plans. If we choose to only follow the charts, we often experience a seed of doubt wondering if we are seeing everything clearly and correctly, especially if we are not informed as to which headlines are potentially driving the markets.

Find Success Where Analysis Meets Persistence

Traders want black and white, but traders receive whatever the market delivers. As a result, the battle rages on and traders are right, wrong, or indifferent to what market action provides. The aforementioned debate exposes vulnerability for many new traders. Despite seasoned traders flashing bumps and bruises, I have found that it is more important that they radiate persistence and perseverance because that is truly what it requires to be a trader. Is it mandatory that every trader experience highs and lows and euphoria or big wins or maximum pain of losses? Of course not, but it is highly recommended that new traders pursue a legitimate education focused on long-term success and market-tested technical analysis. Sound technical analysis is not foolproof, but important elements to improving and trusting one’s analysis rests in – Click here to read the full article on Equities.com.

Have you invested in formal trading education? Get connected with us on social media and share your thoughts with our community of traders!

Want to learn more from our Forex pros? Join us during a complimentary webinar. RSVP using the form below:

0 Comments

Leave a reply

Chat live with one of our friendly team members.

Fill out the form below to start a chat session.

×

Welcome to Market Traders Institute Support