Sounds like a lie? Well, it is not a lie because the Holy Grail is true. You may just ignore it thinking it is one of the Forex jokes. But for your information, Holy Grail is real, although most of us have failed to notice it. It is right there in the trading world and traders fail to notice it because of the mentality of the traders. The psychological stress makes the trader struggle with finding the Holy Grail. Before deciding whether Holy Grail is true or false, it needs to be defined. Most traders do not even know what they are searching for. Even though they read the words “Holy Grail” they have no idea what it means. Anyway, do you think successful traders discovered the Holy Grail in Forex? Let us read till the end to find out.
What is the Holy Grail in trading?
The simple definition for Holy Grail is it is a strategy with a set of rules that ensures profits with effortless trading. This strategy is something can be found easily but only to regret later. At a point, traders may struggle with this strategy. Most traders struggle to make profits by moving between strategies and systems. When naïve traders create strategies they don’t focus on required historical data and relevant indicators. The major reason they don’t make profits is due to not having a sound strategy. The professional traders are aware of the strategies to be used in Forex market, so it enables them to profit from trading. If you are a naïve trader who doesn’t know to create the right strategy, it is time to learn it. If not you will be spending your time and energy in a fruitless trading path.
The revealing of the Holy Grail
Without focusing on the “perfect” strategy, you can simply sit back, take a deep breath, and think about the bigger picture of the market. Think about the market moves and conditions. The Holy Grail is a successful trading strategy that was forever there in the market. If you are in the Forex market it is important to be realistic. None of the traders would have faced ONLY profits in the world. Even if they face consistent profits there will be a time that they face losses. The Forex market is uncontrollable and decentralized, so you can never hope it to be played as you need. Most traders who enter the market newly will fight hard to control it but it is impossible. Anyway, if you want to reveal the Holy Grail you should focus on the trading strategies.
There is no flawless Holy Grail
There is Holy Grail and it should be dealt with care. You can trade the grail using the right instrument with maximum volatility. The markets with simple trade entries and easy speculation should be your selection. However, you should understand that there is no flawless Holy Grail, so it is important to focus on the pitfalls related to it.
Money management is often considered as the Holy Grail in Forex market. Majority of the rookie traders are blowing their trading account within the first three months. Things go very well for the first few weeks since they follow strict rules. Over the period of time greed takes control over the new trader and force them to trade with big position size. Greed is the worst energy of the retail traders. It’s true you can easily execute big trades by using the market leverage but considering the risk factors, it’s a very deadly mistake. You have to follow the conservative of trading. Follow the golden rule of money management. Never take more than 2% risk. But this where most novice traders make mistake. You should limit overall risk exposure by this simple rule. So if you have multiple trades open, make sure your overall risk factors is not above 2% of your account balance.