Today, FXCM Zhang Zhe will discuss how to reduce the monitoring time of the market and improve the efficiency of the trading system in trading. Now, let's get to know the main points of this lesson.
In the initial stages of trading, many traders need to spend a lot of time observing the market dynamics, which undoubtedly helps to develop an intuitive sense of the market. However, prolonged staking can also have negative consequences. Personally, for example, I've been trading for 10 years, and for the first two years, like many newbies, I was staring at the screen day in and day out. Later I found out that this practice had a bad effect on my body and mentality. Long-term staring not only consumes a lot of physical strength, especially when major financial events are released, often staying up until two or three o'clock in the morning, which is a big burden on health. In addition, it can have a drastic impact on the trader's mindset, as it is difficult for our emotions to remain stable as the market fluctuates. We all know that emotional stability is one of the keys to successful trading.
So, is there a way to change this? The answer is yes. In my experience, we need to make two main adjustments: first, to extend the trading cycle. The reason why many traders need to keep an eye on the market is because they focus on ultra-** trading, which may only have a holding period of ten minutes. If we extend the trading cycle to intraday or overnight, it will naturally reduce the amount of time we need to watch the market. Secondly, improve the trading strategy so that it includes the prediction of the ** position. Although it is relatively easy to determine the general direction of the market, the precise position is more critical. Therefore, our trading system should support us to accurately judge the position of **, so as to get rid of the dependence on excessive market monitoring.
As we gain trading experience, our trading cycles and strategies will become more mature. Ultimately, I encourage everyone to minimize the monitoring of the market in order to achieve stable profits. Through the study of this course, we learned that by adjusting the trading cycle and strategy, we can achieve the goal of efficient profit in foreign exchange trading.