In case you have watched action movies, you will notice that there are snipers who always have one thing in common. They usually target one enemy at a time. Even though they have the liberty to fire as many bullets as they want, the secret behind their success is that they do not fire upon a crowd. They usually select an enemy and give their complete focus, finally piercing their bodies even as they change their ranges as their targets move.
CFD trading in Australia and even around the globe should follow the discipline of snipers, they do not bring down a rain of trades, but they are always very attentive to the market trends. They target one at a time and when the favorable time comes, they place their trades.
One of the benefits of trading like a sniper is that you can get precision. To be successful in this industry, you need to avoid being confused since many trends will come to your chart. As a sniper, focus on one trade, concentrate on one trend at any given time.
Automatically, there will be an improvement in your performance because you will have fewer distractions, which will then give you enough time to concentrate on your analysis as well as trend patterns. In any trade, precision is usually valued.
Get more time to analyze and plan your strategy
It is vital to carry out a proper plan for the future to generate profits. In case you do have enough time, you may end up making confused trading plans which you may not understand. You need to centralize your planning to use your time well.
Additionally, always find out the dominant trend that is appearing on your chart and place your trades. It may take some time, but in case you are confident and have successfully planned out your trades, you can make your money.
Store your energy for the right time
Your hard earned money is precious and you do not want to waste it on scraps. In trading like a sniper, you need to save your strength and utilize your energy for perfect execution of your target. You can also become a sniper with a proper strategy and wait for the perfect timing.
Get into the skin of the character
In many ways, snipers set simple strategies as well as principles and stand by them. In this regard, you need to be patient, specific and in command. As a sniper, you must command every decision and the circumstances of the decision. Be in control and dictate the terms of the situation.
When in command, the confidence of the trader is in such a way that he intends to ensure that his control scours the market correctly and finds patterns and taps into it. A trader who trades like a sniper is also specific with straightforward goals which ought to be achievable and tangible.
The measurement of success is dependent on the rate of return. The need for a specific goal makes it easier for a trader to see things through. You need to understand which instrument to choose and when to use it, an issue which can only be taught with experience in realizing specific goals.
The ‘noise’ argument
One fundamental thing that is commonly heard from the trade like a sniper camp is anything below the one hour chart is just ‘noise’. In case you go to a strange country on a busy street where everyone is speaking a language you do not understand, you will not understand what they say, and most of it will be ‘noise’ to you.
However, given just six months of learning the language, it will no longer be noise but a conversation full of information. The difference between the ‘noise’ and information is training. What seemed like ‘noise’ on that 30m or 5m chart will begin to sound like a conversation, which only you can translate.