Forex is perhaps the best place to start a trading career. And why not? FX with all the flexibility that proved to be the largest trading market in the world with average daily volume of U. S. $ 2 billion more. A trader with a thirst for trading Forex can find gold. However, Forex trading is not only playing cards and waiting to see what you intended. Many of you decide your success in the Forex market. Here are the secrets of successful Forex traders. Courage and you will definitely be on the road to success.
1 Trade with a plan.
Set goals before you start in forex trading. Define the results, not just what you do, if it goes well, but what you do when you're wrong. Determine the amount of capital that you are willing to lose, and vice versa to define, if you take the profits. Let the market take profit from a loss of trade is not a good strategy. Write follow a trading plan and paper. Do not be a victim emotionally involved in the purchase or sale are.
2 Nobody wins 100% of the time.
Many people in the Forex market focuses only on earnings and do not take into account losses. If you think for a moment, you will win a hundred percent of the time, you're wrong. Losing is part of the cost of doing business. Your goal should be to ensure that risk control and not blindly put your money at risk. You must realize that learning never win until you first learn how to lose come. How to deal with the loss is the actual psychological difference between an amateur and a professional. Professional traders do not react the same way that an amateur is at a loss. When a professional trader loses, he or she simply said. Do not take personal loss.
3 Use always stops.
The proper use of stops to protect profits and limit losses. Look at the profit and loss insurance. If you give a dealer, end to limit losses if the trade goes against you. If the business is profitable, you use a gain block.
4 Be patient and let time be your friend.
Earn money definitely needs time. The only time you hurry if you are in trouble. Remember: "Every day is not a trading day. Just because you want to act, does not mean you should. Act only when the odds are in your favor, and let the market come to you. Done that markets do what they do and what you want is irrelevant. Be patient and take the time to learn your friend instead of your money.
5 Learning from their mistakes.
most successful traders from their mistakes. Many even go so far as to write what happened and analyze the problem. mistakes can be costly, so use them as a learning experience and not make the same mistake twice.
6 measure their results
too often, the dealer will then lose a good plan, but to measure their performance on a regular basis. thing is that 90% of operations are successful, but that 5-10 % of trades that you eat with great loss. If you see the results are accurate, you should start a "success profile", what to look for the best compromise Develop defined. soon as the transaction is not successful with profile, you should know gain or loss, as their advantage no longer exists.