Forex Professional System Trading Tips: 5 Reasons Why You Should Never Chase a Trade

As a FX trader I am learning new things all the time and I greatly enjoy to share them with my subscribers and visitors.

 Today I missed a trade and I was extremely tempted to chase, however; I sticked to my trading plan and let it go.

Despite the fact that I was being tempted by the Forex trading “devil” I realized 5 things that make me stop and not chase this trade. I hope you find these Forex professional system trading points useful and enriching.


You will be subject to the psychological manipulation of the market:

When you chase a trade you do it because you are hoping to still earn money. Furthermore, you will be under a lot of pressure for several reasons.

First, you are working against the clock and the longer you wait to take the trade, the lower the probability of success the trade will have.

Second, as a Forex trader you know that by chasing a trade you are being irresponsible and you are not following your trading plan, this will afflict you incredibly.


Your money management will be out of balance:

Money management and risk management are purely the two most essential parts of currency trading. When you chase a trade you will need to change your stop loss, risked percentage, and even your entry and exit points.

Changing all these details in a matter of a few seconds to a few minutes can be really hard and you are more inclined to commit mistakes.


Your trading strategy is not effective anymore:

 As a strategy developer I have invented and created more than a few trading strategies from scratch. The laws behind a successful trading system are very specific and small changes will affect the final results of the system.


Your trades have lower chances of success:

 A trading strategy is based on a exact set of trading signals and market methods and when your system provides you with a signal, the signal is time sensitive.

Because of this, chasing a trade will lower your chances to earn money since your system’s signals will be out of date.


Your whole trading discipline will be compromised:

 The instant you decide to not follow your trading plan and chase a trade that you missed, you are being undisciplined. Undisciplined trading is the root of most losing trades. 

Discipline is required to experience great success as a trader since the markets will provide you with plenty of opportunities to be undisciplined. As an instance, you could listen to a trading analyst who is telling you to go short but your system is telling to go long, what are you going to do? . 

Also, you could decide to take an impulsive trade because you “feel” like the GBPJPY is going down. What would you do in this case?

The bottom line is that taking any trading decisions that are not in your trading plan is considered a lack of discipline and they ordinarily lead to losses.

The finest traders take Forex professional system trading seriously and don’t fool around when it comes to following their trading plan.

A profitable currency trader uses a money-making trading strategy and a well written trading plan to capture consistent profits from the markets.

Stay tuned to learn more and more ways to increase your profits and reduce your risk.