Trading Insights from Abel Nyakundi

Trade Like a Crocodile 

 Forex (Fx) is full of crocodiles cause everyone wants to make profits and not loses. So those who lose don’t do it willingly but rather they never made smart moves. Therefore, learn from this predator and be the forex predator yourself. It is high time you stopped being the prey.  This is what the crocodile has that you can take to forex and thank me later.

1. A crocodile can wait while starving without compromising the rules. You need to have the patience of waiting like a crocodile until  your trade entry appears without  changing rules. There are days your setup might appear twice or five times across several pairs and there are days you miss your setup for days. 

2. A crocodile waits for the prey rather than going for it. This animal positions itself strategically. A prey can practically walk into the jaws of the crocodile. Let the candlesticks walk into your trap. Don’t trade any setup. Wait for your setups. 

3. A crocodile adapts to the environment. It can camouflage as a stone or rock till its victims arrives and feels comfortable near the jaws of the crocodile. If the market is ranging, trade strategies that apply to a ranging market and  if the market is trending, trade strategies that apply to a trending market. 

4.  A crocodile trades within its territory where it has the advantage of drowning the prey. This animal understands its preys don’t know how to manoeuve in water and that is where to take advantage of them. In case you trade a reverse market, buy in an over-overbought or sell in an over-oversold market. That is what it means to take advantage of the market. 

5. A crocodile has few losing trades. Let your strategy have many winning trades and few losing trades. If your strategy is where you eat like a sparrow and defecate like an elephant, you will blow your account in the end.