Forex traders all the time harp about maintaining discipline and all the time following the trading plan.

But while having discipline is an important trait for a trader, we also should be wary that if we’re too stuck in our ways, we’ll find yourself imposing our ideas on what the market should do as a substitute of reacting to what is definitely happening.

All you actually gotta do is query the market. Really, it’s that easy.

Why you ask? Well, asking questions lets you take a look at different perspectives of the market that you just initially might not be aware of.

When questioning your market assumptions, think outside the box and don’t just persist with easy and random questions like “What pair should I trade today?”

By questioning, I mean that it’s best to ask what the market “should” do in light of all the knowledge – fundamentals, technicals, and sentiment – available at that moment.

For instance, you possibly can ask an issue like, “How will dollar traders act today given the dovish Fed statement we saw yesterday?”

If you happen to’re a technical trader, you may also query the market by its recent price motion.

As an example, we see that USD/JPY has been trading higher for the past few days as evidenced by its higher lows on the hourly timeframe.

You possibly can ask yourself, “Is that this uptrend still apparent in higher timeframes? Has it made a recent high? Will it encounter any potential resistance level soon?”

If you happen to see that USD/JPY is nearing a serious psychological handle but still bouncing off support at one other area of interest, chances are you’ll opt to search for opportunities to scalp intraday trends reasonably than swing trades. Heck, this might indicate that the pair may soon consolidate. Do you actually need to get stuck in that?

This practice will make you think that of other potential scenarios which will emerge and enable you to change into a greater “listener” of the markets, reasonably an “imposer” of your individual thoughts and views that in point of fact, may not mean zilch to the market.

I think that much of the knowledge we’d like to catch those good trades are already available to us. It’s just that our biases often make them unclear.

Learning to always query the market will not be exactly scientific, but it may definitely help make us change into more open to the market’s possibilities.