Be Flexible As a Trader

A fundamental mistake many novice forex traders make is to forget to assess what type of market they are working with and adjust their approach accordingly.

Navy Seals
and Army rangers are trained to carry out missions on many different kinds of terrain: deserts, swamps, jungles, tundra, oceans, Pipcrawler’s castle.

Without this training, their effectiveness would be limited: they’d struggle to survive on unfamiliar terrain because their skills wouldn’t work (imagine a solider in white winter camouflage, trying to hide in a dark green jungle).

The first lesson they learn is how to evaluate their environment and consider what tactics and strategies from their skill set will work for where they are.

The same is true for new traders. Instead of geographic environments, you must pay attention to the market environments you are in, and use the right approaches for where you are.