Trading requires passion and endurance! We were often asked: what is the most important skill for a successful trader? The answer is simple, passion and endurance.
Yes, it is that simple and the market dynamics right now try to put this into a good perspective. The market is up again, very high actually, considering the trade war, future economical perspectives and tensions.
The reason for the new high is just a tweet from the USA president Trump from Oct 10, 2019. It is very unserious to believe the market would take the news that easy but it is exactly what is happening at the moment.
Situations like this can put every trader’s passion and endurance into a probe. The challenge is that nobody can say for sure if this new S&P high is a really reasonable market trend. The time will show until then we reduce the number of notifications we send to our subscribers and recommend to wait and see how the market will diggest the events from this week.
For all CFD traders, always be very careful and don’t overuse your margin. The current trend could happen to be a big market trap!
Develop the skill the be passioned and have the endurance to wait for a better and more fundamentally secure market trend. Sometimes is better to not trade. If you still want to jump on the train, make sure that you do not open your positions to high, better wait for the pullback, as we already have shown in your blog post: https://onecenttrading.com/cfd-micro-trade-trimmings-examples/
DISCLAIMER
One Cent Trading will not be liable for any losses sustained while using the services provided on the One Cent Trading applications. This service is not a solicitation to trade signals, nor is the representation is being made that any account will, or is likely to, achieve profits or losses similar to those discussed on the application, services or trade notifications. The past performance of any trading system or methodology is not necessarily indicative of future results.