Tip #19   Sometimes staying aside is the best course of action

Most newbies think that if they don’t hold open positions they are not trading. That’s not true. Not holding a position is a position, too. Successful trading is supposed to be boring (yet rewarding). Gambling is not boring (and definitely unrewarding in the long haul, though your forex brokers will love you). If your analysis shows that there’s no good setup in the forex pair you’re trading, then stay on the sidelines. Do observe the action in the market, if you will, but don’t trade when you have no clue about the probabilities of the price going one way or the other.