The economic history is twisting, mutating and breaking down. Global financial system is at crisis and the government is the worse resource to trust with a suggestion. This is my call to all forex traders. We have to understand what global recession will do to us, since volatility has been intense and this is only the beginning. The tactics that used to work before are breaking down in front of our eyes. Things are changing in forex trading market and we have to accept the changes in order to guarantee our financial survival, which highly depends on the risk management.
Global crisis has turned forex trading into the battle of gladiators. The bad news is that the risk is everywhere. The good news is that a crisis like that presents profit opportunities. The question is how to get to it.
We are all trying to figure out how to profit from the “new” forex market. Some hope that things will return to “normal”, others see profits in the current trends of market direction. After all, the deficit of confidence has not been restored as pledged and markets keep rolling further down.
During economic crisis we are all suffering. Should we, forex traders, wait until the tornado disappears, meanwhile playing via demo account? Should we give up forex trading for some time? Is it possible to profit in the market that doesn’t follow any rules?
The crisis will not vanish quickly. It will take significant amount of time for the whole world to stand up on its feet again. Some counties might never even wake up from this blackout, while others will fight back and manage to come out of this muddle first.
Things are changing hastily and the alternative of having more than 1 credit card with negative balance will no longer be available. Imagine a world where a loan of 5K is almost unattainable! Imagine a world with maximum unemployment rate and no salary on time (in a good case scenario). Imagine a world of regression… Wait a second, why to imagine when it happens almost every 10 years!!
Let’s face it, forex traders. The trends are down on most markets despite the volatility. I personally enter forex trading with my own adaptation of wave trading! Speaking of forex trading, it is the only secure investment out there these days. This is the only way to get your money!
In my opinion, there is no need to quit trading! Here are the rules of forex trading today:
1. Reduce the lot size (no need to go crazy right now)
2. Deposit less and withdraw every chance you have (just to be on the save side)
3. Enter the real market, otherwise you won’t learn a thing.
4. Demo trade until you are absolutely sure that you got it!
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