The economic history is twisting, mutating and breaking down. Global financial system is at crisis and the government is the worse source to trust with an advice. 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 strategies that used to work before are breaking into thousand pieces. Things are changing in forex trading market and we have to adopt in order to ensure our economical survival, which highly depends on the risk management.
To Trade or Not To Trade?
Global crisis has turned forex trading into the battle of gladiators. The bad news is that the danger is on every corner. The good news is that a crisis like that brings up profit opportunities. The question is how to get to it.
We are all trying to find out how to benefit from the market today. Some hope that things will return to “normal”, others see profits in the current trends of market direction. After all, the lack of confidence has not been repaired as promised and markets keep falling further down.
During economic crisis we are all suffering should we, forex traders, wait until the storm cools down and play the “normal” market via demo account? Should we quit forex trading for a while? Is it possible to profit in the market that doesn’t follow any rules?
The crisis will not go away within days or month. It will take considerable amount of time for the whole world to stand up on its feet again. Some counties might never even wake up from this coma, while others will struggle and manage to come out of this mess first.
Things are changing rapidly and the option of having more than 1 credit card with negative balance will no longer be. Imagine a world where a loan of 5K is almost impossible to get. Imagine a world with highest 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 version of wave trading! Speaking of forex trading, it is the only safe investment out there these days. This is the only way to get cash right here, right now.
In my opinion, don’t quit trading yet! Here are the rules of forex trading today:
1. Deposit less and withdraw every chance you have (just to be on the save side)
2. Reduce the lot size (no need to go crazy right now)
3. Demo trade until you are absolutely sure that you got it!
4. Enter the real market, otherwise you won’t learn a thing.
5. Never give up, never surrender!