Thursday, April 8, 2010

Formula 1 = Forex Market

Imagine you are the Formula 1 driver, what is the feeling when you ignite the start button and all the 5 red lights turn off one by one?  Forex market is the venue for investors who look for good return. Some investors who look worry when they see their account balance drop. I told them, if you want to look for so-called fix income return, Forex market is not the place. To make money in Forex, it is same like other market, you need time. Even the best F1 driver cannot win straight all the tournaments from Bahrain, Melbourne, Malaysia, Shanghai....... and back to Abu Dhabi.
Look at the last week Sepang race, all the top guns not even qualifed for the top 5 poles. They also make mistakes, sometimes the weather will make them lose focus too. Trading Forex is like driving F1, sometime we are too confident on some trades and lose focus on minor but fatal mistakes. The only way to rectify the problem is using time to 'drive' professionally and patiently to cover the loses. One of the F1 drivers, Lewis Hamilton know about this and will do whatever to get the point in the end of the day.
Once mistake made, I will use my passion and 'drive' patiently to build up the account again. Like F1, there are always another country's currency  for me to 'race' again. So no need worry, sometimes power of attraction will make things worse.
 
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