As a Forex trader, you are the one that will ultimately be pulling the trigger. That sounds like a given, but when it comes down to it, the decision to place a trade is yours.
That being said, the responsibility also becomes yours. You become responsible for the losing trades, and of course, for the winning trades.
Once you choose to execute that trade, there are no gurus, no TV new channels, no signal services, no husbands or wives, and no trading systems that can take responsibility. That now lies in your hands. This shift of responsibility makes you a more calculating trader, and in doing so will make you a more profitable trader.
Let’s say you have built a wonderful trading system, one that wins 70% of the time. Even so, there will be times when your personal judgment will have to override any signal your system generates. You know what I am talking about, you have been there already. You placed a trade based on your system, but the time of day was unfavorable. The time of year was bad, like the Christmas holidays. Maybe there was a news release on the verge of coming out.
If you choose to take these trades at these times, which are fine if you are familiar with these situations, you must take responsibility for the outcome. The same goes for trusting a recommendation from your favorite guru, or the guy you see on the TV telling you to go long the USD. If you take these trades blindly, the fault for the outcome is yours and not theirs.
The responsibility is always yours, for you are the one pulling the trigger. You are the last line of defense. Be responsible with your choices and the market will reward you handsomely for it.
Best regards
Russ
