You can safely say that spiders are one of the least popular creatures. In fact, there are thousands of people who fear them completely, a phobia called arachnophobia.
Personally, I don’t like or hate spiders. I am quite neutral about them. Although I am a person who loves all living things, I try to save them when I find them on me.
To love or hate them when it comes to showing the qualities needed to become a great forex trader, spiders don’t have the same characteristics.
I admit that comparing spiders to forex traders seems strange. But when you finish reading this article, I’m sure you’ll agree that your qualities and lifestyle are perfectly suited to the many challenges we face as traders.
The Patience of the Spider
Did you know that most sitting spiders who braid their webs to catch prey can survive months without food?
It’s true, months!
This means that they sit for days, weeks or even months, waiting for the next meal. In the meantime, they wait patiently to save energy when it’s really important.
I don’t know about you, but for someone who likes to eat, it’s a terrible way to live.
But for the spider, this is the only life, and they have evolved to survive long periods without food. It is a truly remarkable achievement if you think about it.
Like a spider, you need to grow to be able to stay satisfied until the next favorable operating setup. This is easier said than done, but it is also necessary to survive in the forex world.
To put it bluntly, this does not mean that it takes months before an opportunity arises. Often, however, you have to wait a few days for a cheap installation to complete it. This applies in particular to those who negotiate longer periods.
The persistence of a spider
Have you ever walked into a spider web?
Of course, you did that. You could say that we all had the feeling that we immediately went into a network we didn’t see. This unpleasant experience leads to something remarkable but rarely appreciated.
Instead of throwing away the towel and giving up after seeing their hard work destroyed in an instant, the spider recreates exactly the same spider web. In some cases, it will create an even larger web than before. Remember, it is the survival of the spider.
Forex traders need to see their trading experience in a similar way. There will be times when you feel that the whole market is against you, destroying your trading platform and removing your chips from your account balance.
But just like the spider, you have to persevere against the setback. Taking time out of the market after a loss or a series of losses is always a good idea, but you should never leave the market altogether.
Rotate your cloth
Another similarity between spiders and Forex traders is the idea that these weaver spiders don’t look for their food. Instead, they weave a net and wait patiently for an insect to land on it. As already mentioned, this can take days, weeks or even months. But however long it takes, these spiders never hunt for their food at the bottom of the forest.
Why do you wonder why?
Because they know that if they choose a strategic location and build a high-quality network, eventually an insect will fall on it. So it has been working for thousands of years and still is.
As a Forex trader, your trading platform becomes your website. You need to develop business strategies that give you an edge on the market and then create a business plan that allows you to “catch” cheap business configurations.
There is never a need to hunt down a trade in the market, just as the spider does not hunt down his dinner on the forest floor. Instead, wait patiently until a positive attitude fits perfectly with your plan. Only then will you consider to endanger the capital.
If this point does not come about, continue. Don’t persecute people and certainly don’t risk your capital until the market meets all the criteria of your plan.
Save energy when needed.
If you like most of the merchants with whom I have worked over the years, that number is likely between 20 and 50 times a day. This is a lot of wasted time and energy.
If you use a stop loss (I hope this is the case), there is no need to revise the charts more than a handful of times a day. Even if you change the chart to 4 hours, there are only six new periods in each session, and at least two of these periods take place during sleep.
This means that you should review the charts as much as possible, while the higher time bands are traded 4 times a day, perhaps 5 or 6 times a day if it is a day with a high event risk. But even 6 times a day it is far from 20 to 50 times a day that most Forex traders take a look at their charts.
Why is it so important, you wonder?
Besides wasting valuable time and energy, traffic management too often allows you to introduce involuntary emotions, also known as emotional fatigue. This questions a commercial structure that might otherwise be as good as the belief that an unfavorable structure deserves to be absorbed.
They know that if they are strategic in their approach, in the end, there will be a chance. So, instead of spending their energy chasing their energy, they patiently wait for the next favorable opportunity to come to them.
Concluding remarks
The patience to wait days or even a week for a favorable position is crucial to your success as a Forex trader. Have the same patience with which the Spider exhibition can go a long way to develop the kind of discipline needed to create it in this area. Only one or two profitable transactions per month are needed to make a significant profit as a trader
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