Most traders who want to trade want to predict the market price in advance and find the best scientific theory to base their strategy on to get an edge in their trading but which really are the best scientific strategies? Let's find out.
The most popular strategies are ones based on - numerous cheap Forex robots, W D Gann, Elliot Wave and Fibonacci and they all claim they can predict the future but can they all be right?
The answer is none of them are scientific and none of them predict the future, we will look at successful Forex trading strategies in a moment but for now, let's make one point clear - If there really was a way of predicting future price action, there would be no market as we would all know the price in advance! The fact that intelligent people believe, you can predict what is bitcoin mining
countless millions of humans will do in advance is ridiculous.
Humans are emotional beings which cannot be predicted and currency trading is simply a market of odds but once you understand this you can win.
How to Win at Currency Trading
If you were to look at the biggest group of successful traders, you might think they all have degrees in mathematics or similar education but they don't - its a fact one of the largest groups is ex poker and blackjack card players. So why are they so good at trading?
They don't focus on being right all the time as they know its impossible instead, they are patient and wait for high odds trades and hit them. They know there going to have losses and keep them small ( which most traders don't) and they then, run their profitable trades to cover their losses and give them an overall gain.
Forex trading is simple and simple systems work best, because if your system is to complex, it will have to many elements to break. So if you have a simple system and can keep your emotions out of your trading and trade with discipline, you are on the road to currency trading success.
So forget looking for scientific order and trade the odds and you may not win every trade but you can if you trade a simple system with discipline, you make huge long term gains - it really is that simple.