Learn, Unlearn and Relearn
As someone rightly said “The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn”.
This philosophy is apt for Forex trading.
If you stick to the same old plan and thought process you will seldom profit from Forex. Forex is an ever changing adventurous market with lots to learn every day.
To read markets well, first forget what you think you know.
Profitable traders know for a fact that they don’t know what is going to happen next and position themselves accordingly.
An empty mind with watchful alertness and observation goes a long way to profit from trading.
For example – You may think GBPUSD is going to make a new high today or EURUSD will reverse from support. The fact is you dont know 100% if thats going to happen.
The fact is you have to approach the market with a lot of confidence and develop gut feel on the direction and this can only happen with an “Empty mind and willing to learn” mentality