Deciding how and when to exit, or close out, an open currency position is obviously one of the last steps in any currency strategy. But it`s also one of the most important. In our trading experience, no other part of a trading strategy has the potential to stir up greater feelings of self-recrimination by traders.
The Evaluation of Trades is key to understand beforehand that we`re never going to know with 100 % certainty how the actions we take now will pan out in the future. In currency trading, we make more decisions in an hour or a day than most people make in a month, and that`s half the excitement.
In terms of maintaining a positive trading attitude, we have to accept that we won`t be right all the time. So we shouldn`t kick ourselves when a trade doesn`t work out. The only thing that needs to be evaluated is Did we follow or trading plan. Online forex trading is and exciting venture, it has ups and downs… but can create a freedom unknown to man!