Probabilities (lesson3)

We are going to talk about probabilities.
This is important if you want to become a professional forex trader.

You need to understand that there are no sure things in trading. They don't exist and as soon as you realize this the better. We can't know what is going to happen in future, so we don't where the currency will go. So what we do we control everything we can till we enter that trade.

We make high probability low-risk trades, we look at fundamentals, technicals, Intermarket, sentiment... we look at strong levels so we can have a high probability trade, and we understand that that trade can win or lose. Once we enter the market we can't control what happens next, we manage it.

That's why you always manage your risk and use stop loss, if you move your stop loss further back you are not accepting that your trade could go wrong.
Dont think in terms right or wrong when it comes to trading decisions, the only right or wrong is if you follow your trading strategy or not.

There are bad trades that lose money and there and good trades that make money. Just because your trade loses doesn't mean you shouldn't take that trade, if you think much about that you will always second guess yourself.

Trader Alen