Chapter 10
Training and Preparing for Battle
In This Chapter
Determining what trading style fits you best
Understanding the different trading styles
Developing and maintaining market discipline
Planning your trades and trading the plan
Before you get involved in actively trading the forex market, it’s important to take a step back and think about how you want to approach the market. There is more to this than meets the eye, and I think it’s one of the most important determinants of overall trading success.
Looking at the title of this chapter, you may think I’m exaggerating a bit with the reference to training and preparing for battle, but I’m really not. The Chinese military philosopher Sun Tzu famously observed that every battle is won or lost before it is ever fought. I can think of no better analogy when it comes to trading in financial markets in general or forex markets in particular.
In this chapter, I take you through the main points to consider as you seek to define your own approach to trading currencies. I review the characteristics of some of the most commonly applied ...
