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Probably the most two crucial and reliant words that are used in the Forex industry. Holy Grail.
Siri pretty much defines holy grail as "a thing which is eagerly pursued or sought after"
Lets face it, how many traders have and are still on the quest to find the holy grail in trading? Honestly, i was one of them. There was not a single indicator i didn't try. I was obsessed in finding that one true way that would allow me to make so much money from Forex.
Looking back, my intentions were good, i mean i knew nothing about indicators but i understood i needed to find the way of trading that would always make money.
We also can't forget that the idea of a "holy Grail" is a great marketing tool for anyone who wants to advertise their signal service or robot. Not to say that there are no signal providers or robots that make money, however, people are failing to realise that trading involves dedication and hard-work. This shit doesn't come easy. You have to study study study.
You surely cannot be of the frame of mind to enter into this arena with the notion that " i have a robot, it makes money, i will sit back" What happens to your robot when the market conditions change?
The holy grail is an illusion. New traders think they will find the money making methodology that never loses. I am sorry to say this, but you will spend a lifetime trying to find the Holy Grail. Its a marketing tool. It lures new traders into false hope. Imagine: You sell the idea of a strategy that makes money, people buy into it, then when it takes losses, traders lose interest, and move onto the next system that is also based on the holy grail.
Its quite overwhelming to know that new traders will blow so much money investing in systems and indicators. I made this mistake. I write this blog to help new traders avoid the pitfalls that i paid the price for.
I Have A Holy Grail: MY MIND IS MY HOLY GRAIL
I only came to the realisation that i could develop the holy grail when i furthered my interest in psychology of trading. I had the methodology, i knew it worked, why was i still losing?
Upon looking back at my history of trades, i found a wealth of information, i realised that my trading was purely emotionally based. Entries were correct, exits were losers and not small ones either. I needed to know what was going on in my mind?
Being able to calm my mind was the determining factor to my consistency in trading. I took various steps, which i will reveal in later posts.
Guys if i leave you with one bit of information. Study the Psychology of Forex, learn to manage your emotions, do not think you can remove them. We are biologically designed to feel emotions, However, we have a mind that will helps us to control emotions....MEDITATION IS ALL YOU NEED TO DO.