The Authority’ on Price Action Trading. In how much can i earn in forex trading, Nial won the Million Dollar Trader Competition.
In war, you cannot control the enemy nor know exactly what they will do. In trading, you cannot control the market nor know for sure what it will do. In both war and trading the only variables you can truly control are your own mind and your own actions. Now the general who wins a battle makes many calculations in his temple ere the battle is fought. The general who loses a battle makes but few calculations beforehand. Thus do many calculations lead to victory and few calculations to defeat: how much more no calculation at all!
It is by attention to this point that I can foresee who is likely to win or lose. The above quote is from the famous Chinese book The Art of War by Sun Tzu, it is one of the oldest and most successful books on military strategy ever written, dating back to the second century B. This book on military strategy has many similarities to the world of trading. To be a successful Forex trader means that you have developed the internal ability to control both your mind and actions. Trading cannot be approached in a mechanical fashion because the markets are dynamic and changing all the time. The only way to effectively navigate such an environment is to follow a method or a guide that gives you some sort of framework to work off of.