Why Wimbledon and Weight Watchers Will Work for You

If you stumbled across this article expecting to read the latest Wimbledon news, or perhaps you were looking for some weight loss inspiration you will have to cancel any further reading and click here for the official Wimbledon site, or here for some Weight Watchers advice. For the rest of us, this is an article about forex trading – or more specifically, how Wimbledon and Weight Watchers can inspire new forex traders to achieve better results right away. Years ago, and even today, young tennis players without access to a proper tennis court, would practice their tennis strokes by hitting a tennis ball against a solid wall. Preferably outdoors, of course. The muddier the ball and the whiter the wall usually determined the level of anger the player could expect to receive from the wall owner!

This really was a simple form of tennis practice. All that was needed was a racquet, a ball and a wall. The player lines the ball up, strikes it in the direction of the wall and waits for the wall to return the ball back to the player. As long as the ball struck the wall (since missing the wall completely had other consequences) the wall would return the ball every time. Each time the ball returned the player would attempt to repeat the process until the ball became unplayable. The harder the player strikes the ball, the harder the wall would return the ball. At Wimbledon, two players in a singles match will strike the same tennis ball against each other in a points based system until one of them is declared the winner of the game.

‘The player who makes the least mistakes always wins the game of tennis” 

Forex trading, as a profession is very much like the game of tennis. You need to position yourself for a trade entry in the same way a tennis player needs to position him/herself for a return of serve. As a forex trader you must be alert and ready to anticipate the markets next move like tennis players watch, anticipate and respond to their opponents moves. You can try as a tennis player to outwit or outfox your opponent with unexpected strokes, dummy shots, top spins and slices – but!  your opponent will do exactly the same back to you until one of you win, and the other loses.

The players who are selected to play a Wimbledon Championship do not arrive there by accident. Somehow so many new forex traders seem to land up accidentally in trades they never planned, expected or wished for. So if you have found yourself in such a situation before and would prefer not to be in such a stressful position ever again, take a quick time out, sit down, towel yourself off, sip a bottle of water and think like a tennis player.

  1. Not all Forex pairs are alike. Tennis players know the playing surfaces of grass, clay, cement and carpet are not alike.
  2. Trade Forex pairs that suit your trading style and ability. Very few tennis players excel on every surface. Some players avoid grass and make a living as clay court specialists. Either way, they know where they play well and where they do not.
  3. Plan your trade before you enter into the markets. The tennis players who land up at Wimbledon  don’t get there by accident. Hard work, training and probably a lot of wall practice with a muddy tennis ball got them into the tournament.
  4. Position yourself for a winning trade, don’t swing wildly at the markets. A good tennis player on the receiving end of an Andy Murray serve will position himself a comfortable distance away from the service line, knees slightly bent, racquet steady, eyes focused and ready to return the ball. It won’t always end up being successful, but it is a far more successful state of readiness than closing your eyes and swinging blindly hoping for a winner.
  5. Expect the Unexpected. Many times your opponent in tennis can be just as skilled, cunning and crafty as you are on the court. That’s what makes a good game of tennis so exciting for the spectators. As a forex trader you must not expect all your trades to be aces. In fact many of your trades that were perfectly executed take a turn for the worse when the market who is a very skilled temperamental player, reacts against you and your trade position by complete surprise. Don’t take you eyes off the ball just because you think you can spot a winner ahead.

Which brings us to game, set and match and a trip for the spectators to the food courts of Wimbledon where strawberries and cream are served which actually are allowable items on certain diets. But you would have to ask Weight Watchers about that first. Anyone who has been on a diet will know that you have to avoid temptation to eat foods that are not part of the diet plan. It takes self discipline and effort to lose the excess pounds from your body, and without a discipline and restraint a budding weight watcher will surely fail to lose those pounds.

  1. Stick to your trading plan. Like a person on a weight watchers diet. Don’t deviate from the plan and the results will follow.
  2. Develop the correct trading habits. Dieters have to train their bodies (and minds) to eat the correct foods in the right quantities at the right times.
  3. Learn to refrain from trading. Trading too much can be as detrimental financially and mentally and just as bad if not worse than a person who eats too much.

Forex trading skills can be learned by anyone but only with hard practice and discipline. To read more about a disciplined, relaxed approach to trader continue to read further on our website for forex traders around the world.

 

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