Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked. Traders are no strangers to missing good trade opportunities. At one point or another we’ve encountered setups that we didn’t take even though they so clearly fit our biases and strategies. All too often, those missed trades also tend to be winners.
Key Takeaways:
- Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked.
- While there are good reasons for missing trade opportunities, not taking valid setups can also cost you in the long run.
- For mechanical traders, not taking all the valid trades would create discrepancies between your backtested results and your actual performance. You could lose confidence in your system before you even give it a chance to reach its full potential.
"Missed trades can also make a dent on your trading psychology."
http://www.babypips.com/blogs/pipsychology/forex-missed-trades-20170213.html
Originally published at The Hidden Costs of Missing Forex Trade Opportunities
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