With the infamous US Masters Golf Tournament 2016 upon us, we thought it might be timely to look at the striking resemblances between the most successful Forex traders and the most successful pro golfers.
We might all feel impressed by a dazzling display of power and skill from a golfer, but the most successful pros tend to live by a more cautious rule: you might drive for show, but you need to putt for dough. The best players are strong all-rounders, not one-trick ponies as flamboyant showmen usually are. They minimise their errors and possess huge reserves of mental strength to maintain their composure, exactly like the best Forex traders, in fact. The best performers have discovered that, if you want to learn Forex trading properly, you won’t let your ego or your emotions decide how to execute your trading tasks. Instead, like all-round golfing pros, they execute their trades as prescribed by their Forex trading strategies – and they don’t waver from their own rules.
Golf tournaments, as all seasoned pros know, can never be won on the first or second day of play, although they can be lost by a reckless round. Golfers navigate their way through the early rounds with enormous care and application. Again, they operate just like the best Forex traders, who know that a trading year is no sprint: it’s a marathon. These traders know that one answer to the question “How to trade Forex successfully” is: “Use all the discipline, dedication and perseverance at your disposal to follow your Forex trading strategies without deviating, and apply firm risk/money management throughout the year.”
If a pro golfer finds himself ahead of the field by several strokes in the final round, he’ll defend his lead doggedly and won’t let an indifferent finale spoil his chance of winning. Likewise, the best Forex traders never squander the profits they’ve made during an excellent first half-year in the second half: first-half results will be defended with resolve and will be the firmest of risk/money management strategies.