Do you find yourself getting to the desk on a Sunday night/Monday morning pumped up & high in adrenaline?
Only to find that Monday's Forex trading is not all you expect of them.
The weekend comes and goes and you're in anticipation of the subsequent week. How many times have you come to the Forex market and left very sad in the early part of the week?
Starting Your Trading Week Right
Everyone around the whole world is in anticipation for the market open, think about the Forex percentages. 90+% lose consistently!
Think of a car,
A car starts up and then gradually increases through speed and gathers momentum. This is exactly how the market plays out, coming to a climax towards the winding down of the week.
Don't be surprised if you see common patterns like this in your trading. You have bad starts, leading into good closes towards the end of the week. What this actually means is more structured however.
How To Handle A Slow Moving Forex Market
If the market take-off is usually slower than most expect, we are susceptible to losing money early on. This is due to the fact the market is not matching our enthusiasm and expectations.
By the time we get to the close of the week, more likely than not, we are aiming to claw back the winnings we gave away, opposed to plying through and making a profit.
Forex Psychology Should Rule Your Trading Week
Now consider trading psychology, which is the most important part of a trading tool kit (Download Your Free Forex Toolkit) in most opinions. If you lose money in the beginning of a week, a weak psychology in trading will easily push you into more losses during the week.
Subsequent to the market shifting higher in liquidity and becoming easier to trade. Think about how many traders are around for the Forex close.
For those traders who are losing money, by the time the market is deciding to behave itself more commonly, they are so disgruntled they have no more energy to trade and in some, if not most, any capital.
The Best Strategy For Your Week Of Forex Trading
Think of trading like this.
Many come to the start of the Forex week and are looking to take-off aggressively. The market moves slowly into action and most lose money. While the market starts to increase in liquidity, the masses have lost big, this is where the professionals make their money.
Take the trading week as followed:
Be always mindful of what the market has to offer
Start slowly and be patient as the week progresses
Increase in speed as the market dictates
- Look to make the most of your success, while the market is moving at its average speed
If you lose big in the early part of the week, the latter part of the week no longer becomes the home-straight, it becomes the race back to the starting line.