Notwithstanding the universal character of all information and knowledge we already have disseminated publicly about the fx market, our trading strategy is individual, and it depends greatly on our personal philosophical system. Some would say it is all about fear and greed? This is only one dimension of the problems we have to solve during our trade. Some would say we are being chased by bulls and bears? This strange explanation of the market forces and the various trading situations we experience every day on the trading stage of forex is too far from the necessary cold-blooded professional interpretation. We may feel fear only if we face something unknown or hard to comprehend, and we may feel greedy only if we are overly naive about the possible directions our trading session might take.
Our trading strategy is in fact a system of philosophy. We aren't just trading financial instruments. At the start of our trading session we are entering trading positions (based on some perception/analysis) that develop in time, they may change from positive to negative and vice versa, and this may or may not create actions and reactions. In the end we have a financial result. This trading result might be positive, or negative, or null.
The real trade, however, is everything that happens between the start and the end. Our real trade is everything we do after we've opened a trading position, and before we've got the final result. Therefore, it's important to study the possible scenarios and real situations that take place during the real trade. Sometimes our trading positions get quickly "in the money", sometimes they stay for some time "out of the money". Both of these possible scenarios could be developed and realised in multiple ways, before we decide to stop our trading game. And while we know that our good moves would certainly bring money, we should think what we should do with our erroneous trades. Because mistakes always happen, right?
Well, we have to pay for our mistaken trades. Here comes the system of philosophy. Because we may "pay with money", and close the mistaken trades immediately. But instead of paying immediately with our money, we may decide to "pay with time", using different strategies of defence, which may save our money in return of some time being spent, or even we may use "pay with time" strategies to counter-attack our erroneous trades with more flexible trading systems, using simultaneous counter-trades with different weights, that may even result in making some profits at the end of the adventure that has started with our poor mistaken trade.
Everything is up to us ;-)
Enjoy developing your fx trading philosophy!
Therefore, if don't have time, we may immediately correct our mistakes "paying with money". If we don't want to waste money, we can "pay with time", and wait safe until the next tide...
We can even "pay with time" not only to protect our bad move, but also to win some additional money "in the meantime"... ;-)