More Profitable Trading With One Simple Change
We’ve been asked a question, which is if you could make just one change in order to make your trading profitable, what would it be?
Well, there’s many things you need in order to be a profitable trader. However, arguably the most important aspect is this very simple concept, which is trading strength against weakness.
If you are not each day seeking to trade strong currencies against weak currencies, then this is the single biggest change you need to make in your trading. Because in this example here, this will help reinforce the concept, we can see a strong arm.
The strong arm is going to overpower the weak arm because the strength is going to push through and over the weakness. Now instead of thinking about arms, think of currencies.
In trading, we trade currency pairs. So each time we’re trading a pair of currencies, we want to trade a strong currency with a weak currency. That way, we’re most certain of the direction.
So every day, you need to be asking yourself, which is the strong currency pair, and which is the weak currency pair? And in that way, you can make sure that you’re much more likely to be on the right side of the market.
Related to that, you also want to ask yourself, well, what would change the situation? What would make the strong weak and what would make the weak strong?
And you need to be ready to change your direction or your position, if that scenario is different than when you first took the trade, but that simple change is the most important aspect of trading, trade strength against weakness, and it ensures that the odds and the highest probability trades will be in your favour.
That is the single change that a trader can make in order to help themselves be profitable.