stay focused day trading forex the fastest moving financial instrument
Foreign Exchange is the fastest moving financial instrument – long hours trading Forex can really punish you and burn your metabolism. The more volatile currency pairs like the Cable are particularly demanding. It is hard to stay focused trading for hours at a time; unfortunately, the very nature of Day Trading necessitates jobbing the market several times in a day.
Forex Day Trading Focus and Keep Trading Hours Down
To stay focused in Forex, you need to find a way to keep trading hours down. Build up a feel for when a particular currency pair is moving more or when it is static. For example, the GBP/USD is more volatile in the early to mid European session than any other liquid pair. For a day trader trading in these hours it would be wise to take advantage of these price swings instead of trading some other currency pair that constantly shows no movement; why spend all day staring at a screen when you can be fully focused trading for four or five hours a day.
Always keep yourself fresh. Consider trading four days a week taking a day off when economic data or news is light or if you are on a losing streak even take time out. When things don’t work out right, get away from the market and take a trading break. A period away from the market can be refreshing and will recharge you.