Written by Derek Frey
Friday, July 24th, 2009
“FX Trading is waiting” Let’s face it, trading while exciting at sometimes is quite a lot of hurry up and wait. When I took my first trading mentorship, my mentor said “fx trading is waiting”. At the time I thought he was just having a frustrating day. I now know what he meant after 20 years of trading myself. Most of the time as forex traders we are waiting for something. Waiting for a market to set up, waiting for our limit order to be filled. Waiting for the move to get going, then waiting for it to “complete”. Or if it goes the other way waiting to get stopped out. Then it starts over again with waiting for the set up. So the majority of our time is passively sitting and waiting for something to happen. This is not easy for the new forex trader to deal with as when they start they almost surely expect lots of “action”. So after the initial rush of those first few trades is long gone you too will understand what is meant by the words “fx trading is waiting.”
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