In the process of dominating the market, it is important not only to read textbooks, but also to listen to the revelations of practicing traders. Sometimes this makes the understanding of the market broader, even if it seems that nothing important has been said. Much of trading consists of nuances that everyone has yet to understand. Textbooks hardly ever write about this. But you can learn a lot from your successful predecessors and colleagues.
Neil Fuller is a specialist in financial markets, in particular using trading systems in his practice. He teaches traders both individually and in courses, webinars. This person deserves attention not only as a practicing trader, but also as an experienced stock speculator. Despite his professionalism and experience, he pays great attention to such an aspect of trading as intuition, which most people consider foolish. Note that this is not the first famous person to talk about the use of the sixth sense in trading. Maybe you should listen too? After all, this can become an additional success factor.
Intuition in
Forex Trading and Intuition: Neil Fuller’s ReasoningNeil Fuller states that every successful trader has intuition. Although, perhaps, some of them act unconsciously, believing that the merit lies only in a correct prediction. Intuition in trading is often referred to as “market sense”. As a general rule, with the vast majority of stock speculators, it appears over time as a kind of instinct that inexplicably allows them to determine what will happen in the market next. Of course, it is not accurate for ticks. However, in your preferred time period, you can determine the nearest address.
But, if intuition comes over time, does this mean that you just need to trade and that’s it? Only in part. It is important to trade professionally, constantly improving your level. The components of this process:
Continuous learning, acquiring new knowledge in the chosen field.
Gaining experience.
It is essential to spend a lot of time on graphics!
Neil Fuller describes intuition in trading as “the subconscious sense of the market and the anticipation of an event that is about to happen”. As if he already knows what will happen and is waiting for it. Look at the chart and understand that now the price will move in a certain direction. At the same time, you may not fully know where you got this premonition from. It will often be easy to confirm with conventional signals, but sometimes technical analysis and economic data will show no signs of future change.
Intuition and skeptics
Since everything that has not yet been sufficiently studied by science is generally viewed with skepticism, claims about the possibility of using intuition in trading are simply ridiculous to many. However, Neil Fuller has his own answer to this.
First of all, he points out that it’s not that intuition, when a person first came to Forex, he clicked on “buy” or “sell” at random and he was right. He speaks of a sense of the market that develops gradually, for some over months, for others over years. Someone does not appear at all, however, it is better to strive to feel the market than to abandon this company altogether.
Second, he cites people from other professions as examples. For example, athletes who compete with other athletes. They gradually develop the ability to “sense” the enemy, to anticipate his subsequent moves. So it is with the market. You study it, advance your knowledge and, most importantly, constantly look at the charts and analyze them. Then, he compares your pre-op tests to your results. And you will find out how correct the forecast was, what was the basis of its correctness or incorrectness …
There is a little secret here. People, hearing about intuition, think that this is again someone’s idea of ”taking everything and doing nothing.” In fact, developing intuition requires a lot of work. This activity is not for the weak or the lazy. If a person wants quick results in trading, he should not rely on intuition.
Price Action Strategies and Intuition
It should be added here that the main direction Neil Fuller is working on is price action strategies. And he believes that it is with the application of it that intuition is very important and develops much faster.
According to him, intuition often helps not so much to determine the direction as to give an answer to the question of whether or not it is worth opening a deal when all the data has already been verified. Let’s say you have signals and they speak in favor of buying, but the market sense says to wait. For whatever reason, you don’t want to open a deal. As a result, you give yourself more time and see a huge reduction.
Using your subconscious mind for your own good is what a trader can add to what you already know. Study, practice, spend more time charting and one day you will find that he has an idea of the market. How to check if this is not self-hypnosis, is not misleading? Test your intuition tips like any trading strategy. So you can find out if it really has already worked or if it just seemed to you.
