CEO, Responsible for profit and loss:
Every business has a CEO. All the employees of the firm desire his designation. Being a CEO, responsible for profit and loss is a dream of every employee. Forex trading allows you to live this dream of yours. You can feel like a chief Executive Officer of your firm during the trade and act accordingly. The Forex market is becoming the most preferred financial market as it enables you to independently take decisions regarding your money like an owner of a firm.
The best aspect of Forex trading is that you do not have to report anyone like a usual employee. You have an opportunity for being responsible for the profit and loss. You are solely responsible for any outcome of your decisions. But at the same time, in case of loss you have no one to blame for the loss. You are solely responsible for the both the profit and loss. Thus it feels like your dream of becoming a CEO has been fulfilled.
However like a CEO, you need to be careful about the capital. You should formulate a proper well organized plan or a strategy. Then you need to make sure that you perform every step according to the strategy. You must keep in mind that the secret of success in Forex trading is hidden in strictly sticking to the strategy.
At the same time, you must learn when to stop in order to avoid loss. It is not obligatory to see the end of the trade. If you feel that now your emotions are controlling you decisions or it is beneficial to take early profit or you sense any downfall in the next phase, then you can quit any time. It is not necessary for you to take risk. You can just take early profit and get out of the trade. After all you are the CEO and you are trading just to earn money. Is not it great?