Everyone knows that Weekend holds a great significance in the life of students. But it is also a vital part of the daily routine of the Novice traders In Forex trading. They pay special attention to the weekends. Some of them treat it as an opportunity to relax and refresh themselves. While at the same time, others consider it as a gap in the flow of trading. Nevertheless, it holds a prominent status in the life of traders.
Weekend and Novice Traders:
When Novice traders think of weekend, several questions arise in their mind. They feel free during the weekend thus they plan to try new trading strategies in the coming trading day. Frankly, my dear friend, I would never suggest you to jump in the arena of a new strategy without exploring the different layers of your own current strategy. First of all, you should try to make some minor changes in your current trading strategy. You can make some adjustments in your position sizing or you can change stop loss timing. Similarly you can try changing some settings of the technical indicators as well. Sometimes such minor changes can convert your trading strategy into a profitable one.
Following other’s Plan:
Some Novice traders observe another trader who was making considerate profit and think of blindly follow his trading plan. It is not wise to blindly follow other’s plan. Just because the new trading plan is doing wonders for some other trader, it does not mean that it is going to do the same with your trading terms and conditions. You need to realize that there might be no fault in your trading plan. Simply stating may be you are not winning because you have some unrealistic expectations. Thus you need to be realistic. Take this weekend as an opportunity to rest a bit. You do not need to rush to change your plan.