This article deals with a very basic concept of currency trading that for some unknown reason seems incredibly difficult to master (speaking from my own trading experience)
I like to use simple scenarios to explain some of the huge forex trading pitfalls:
Shopping Trip Reality
Have you ever felt like you "missed out" because you left too many pips on the table? You might be happy with your +50 pip gain - that is until you see the currency trade go +150 more pips in your direction. What about when you "cut your losses short" only to see the trade reverse and go back in your original direction.
The reality is you will NEVER get all the pips that the market has to offer - it is simply impossible. The quicker you accept this - the more brain cells you will save from being stressed out.
I call this tip Shopping Trip Reality - because have you ever gone to the grocery store and walked out mad because of all the groceries you didn't buy. I mean there is a WHOLE STORE that you could have had - right?
This seems silly but it's the same with forex trading. Get in the market & take the pips that you can and then leave the market (in other words shut off the your trading platform for the day)
The next time you find frustration creeping back into your mind because of the "pips that you missed" - simply think: Shopping Trip Reality.
