Your trading strategy has to play an important role when you are trading. But it is not the only thing that matters. You must also follow consistency, discipline, and be open to learning whenever you have a chance.
UweMoench posted: Strategy is very important but not everything. You also need discipline. A good trading psychology. You also need good Control over your emotions and Ability to stay away from trading when it is needed.
Yes, strategy is important in trading. It helps to manage your emotions and discipline. Don’t apply too many different strategies. Stick to one strategy to remain focused. Choose your strategy carefully and apply it on your demo account before going live.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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