Be Flexible

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Be Flexible!

The nature of financial markets is that they rise and fall along with fluctuations in supply and demand, and the forex market is no exception to this general rule. Successful forex traders usually avoid holding a stubbornly fixed view on the market’s direction for a currency pair they are trading. They instead remain flexible and sensitive enough to let the market tell them which way they should be positioning themselves. For example, swing traders often make substantial profits from being flexible enough to take advantage of market fluctuations. Not only do swing traders follow trends, but they also look for overbought markets to sell into and oversold markets to buy into by watching momentum indicators like the Relative Strength Index or RSI.

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