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Forex Market Myths V – You can accurately predict market movements

Despite what some market gurus would have you think, you cannot know, with 100% certainty, what or when the market is going to do, the good news is that you don’t have to know to have a profitable career as a stock trader. foreign exchange. Trading is a game of odds and your job is to keep the odds in your favor. Here are some ideas I’d like you to consider:

1.- There would be no forex market.

If you could predict, with 100% certainty, currency movements, there would be no market to trade. It is the uncertainty of the future that makes this business possible.

2.- No one can consistently predict the highs and lows.

I have seen many people miss out on a good trading opportunity just because they were waiting for a perfect entry point; and lose all their profits simply because they “knew” which way the market was going to go. There is no way of knowing how low or how high the market will go. If you don’t understand this, you are going to lose a lot of money.

3.- There is no perfect moment.

The forex market moves how and when it wants to. There’s no point in trying to find the perfect moment. You should try to go with the tide of the market. Trying to outsmart the market is very dangerous and can bring serious costs.

4.- It is impossible to predict prices in short-term time frames.

The price moves randomly on short-term time frames. There is no way of knowing where the market is headed in the immediate future. If you want to bust the market, you could just flip a coin and have the same success rate.

5.- It is not necessary to predict the market to benefit from it.

Trading is a game of probability. You should have solid money management rules to help you limit your losses and optimize your profits, and a good system with an acceptable risk-reward ratio. Do this and you will be one of the few to benefit.

Trading the forex market with a mechanical system is an advantage, over discretionary systems, that will ensure that it will be useful when you are trading. You will discover, over time, that you don’t need a crystal ball to profit from the market. Your decisions are only as good as the information on which they are based.

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