Strategical thinking is vital and essential for those aiming to progress in the world of the forex market.
Without having a valid strategy in place, or at least a set of criteria, before and while performing your trading activity, the chances of succeeding in the long-run become limited.
A strategy is your roadmap when it comes to planning, execution of orders, psychology, and risk and money management.
Strategical thinking involves a set of criteria
Strategical thinking is an important part of financial survival, thus every trader must take into consideration certain criteria such as:
- Creating a valid strategy
- Implementing this strategy at all times even during difficult trading periods
- Maintaining consistency and discipline, thus never losing focus
- Having faith, believing that you can make it to the top
- Eliminating fear and never let others doubt you or bring negative emotions to your trading activity