This story has been stolen from a DanAnalystforex.blogspot.com Could it be a lesson to you?
Being a crocodile? Don't be a hippo. Being a sniper? Don't brandish a machine gun. That simple; keep your cool in Forex trading.
They all have different habits and traits which are crucial to their survival. In that respect, crocodiles are not hippos and a sniper loses when he leaves his hiding and comes out bracing a machine gun with an illusion that he's figured it all and can easily bring multiple targets down without a waste of time. That's how most newbie and some experienced Forex traders blow their accounts.
May be this scenario sound familiar to you; you opened your demo account which you religiously used to learn the Forex traders’ tricks and maneuvers and then graduated to a live account when as they say; you could consistently hit your predetermined targets. You were so determined to stick to your ways and when you hit several consecutive targets with your live bullets; things changed all over sudden. The religiously conservatist who had vowed never to be greedy and to remain contempt with what they could make without risking much, all over sudden starts getting great ideas. The ideas comes in no better way than in company of two little agents who lands on your shoulders; one being the devils' agent and the other your guardian angel. The little devil's agent takes a cool position on your well chosen right shoulder and starts narrating to you how you have become a pro and have dramatically turned to a genius that can even turn stones to bread, nothing to something and can even spit at your former boss because you were now playing in a whole new league capable of paying their total annual salaries in January by sitting with your PC for just few hours watching the Forex candlesticks’ charts and pulling the triggers. The small devil’s story becomes so sweet and sooth you to a great ego that beclouds your conservatism and you all over sudden have an unexpected miraculous vision of turning your 6 digit account to a prime property that shadows those old fashioned (in your imagination) buildings that dot downtown. You see yourself being the next big boss in town who calls the shots while others’ job is just heading the new boss' calls. But the little angle on your right shoulder; feeling dejected from your ignorance to his call for attention, slowly bends close to your ear and tells you that the cool agent on the right side is a devils’ agent bent on destroying your live account.
Aren’t the little devil's lyrics the beginning of your problem with your guardian angel? you tell your angel off and make it known to him that you no longer consider his advice as wisdom but a an disguised effort to hold you down from achieving your dreams. You also note to him that you just realized the he has been and is the enemy of your progress which means you were ready to fight him for the purpose of your progress. And it’s at that exact time that the devil's agent in a cool voice rises and pronounces “boy, it’s now or never, pull the trigger and slap the hell out of that little liar holding you back from riches" and that's how you got into that trade that eventually blew your account. You listened to the cool devils agent’s narrative of a quick fortune and forgot that the guardian angel you just ignored has been your savior for all that time you have been a celebrated sniper who could patiently wait for the right target to hit and you decided to just blindly fall for the devils’ agent illusion tale; brandished a machine gun and come out screaming and baying for everyone's blood only to be brought down by a single enemy's strike.
That’s how you thought that u had been a crocodile for too long and crocodiles are boring so you needed to spice your life with some hippos’ vibe for your presence to be felt and just came out' at the wrong time when the poachers had just arrived and as a hippo, you ended on a conservationists’ dinner table. Always remember; be a sniper and a crocodile in your Forex trades; patience and precision pays, avoid loud screams and un-reasoned triggers and you will survive in Forex market. Crocodiles are patient and calculative while hippos rush to strike. Likewise snipers are patient, precise and calculative while machine gun brandishing commandos’ announce their arrival with loud screams which mostly vouch for their demise. Does that story sound familiar to you? What did you learn from your experience? Lets share your experience as a trader and learn from each other.