Forex beginners often look for hands wrestling for a forex couch, the Forex guru who can dedicate them to the very last secrets of forex trading that knows the ultimate Forex secret. Perhaps he will present one or another personal strategy. When looking closer, these are rather boring and the trader makes losses. What is it now and where can you find it – the ultimate Forex secret?
Before the success comes…
As with all things in life comes before the success of sweat. Forex trading also requires a lot of work – whether with a guru or a coach. It is especially important here that the legendary sweat must flow before trading. The events on Forex reflect the actions of people. This act according to rules. Therefore, the trader must also comply with rules. Which ones are? Read on!
The rules to be followed up to the end is only a tiny small percentage of the traders. These rules also actually apply and implement are successful. That is the reason why very few have real success in trading and give up many quickly. The ultimate Forex secret is simply – abide by rules.
The trader must discipline himself to comply with specified rules. The key to successful trading is to recognize yourself and your stress level. If the trader doesn’t know who he is, the market is a very expensive place to figure it out. He must have a plan, he must know his plan, and he must follow his plan. The difference between winners and lots is not an innate ability, but discipline in avoiding mistakes. If the trader has made a loss he should quickly forget him. He has made a profit then forget this even faster! His clear thinking and hard work must not be influenced by ego and greed.
The most difficult task in speculation is not the prediction, but the self-control. Successful trading can be difficult and frustration, because in the world of money that is shaped by human behavior, no one has the faintest idea of what will happen in the future. Therefore, the successful trader does not rely on what is likely to happen, he instead responds to what is happening. Successful traders have a well-planned time frame to study the markets. You plan your trades. They continually strive for patience, perseverance, determination and rational action. You’re trading your plan.
They expect and accept losses grace. Who are always pondering about losses, miss the next opportunity, which will more than likely be profitable. Successful traders retain their positive attitude, no matter how much they have lost. They trust themselves and their judgement.
Good traders record the trading results. They limit losses by using stops. You never delete a stop loss order once it has been set. You place the stop at the same time as you enter a position. It is clear that it is much easier to enter a trade than to end it. But if the market doesn’t do what it’s supposed to do, successful traders go out. They beware of too big positions that could control their emotions are not too aggressive with the market. They treat their equity very carefully so that it grows continuously instead of melting. They never stall a loose position. They don’t try to catch highs and lows with all their might.
Rules of Conduct
Successful traders never go out in the market for a long time and avoid going in or out of it all the time. They never let a big profit become a loss. You never risk more than 50% of your profits in the market again. Successful traders continue to set their Tradingziele higher.
Forex losses teach a trader – not the profits. Traders use every loss to increase their knowledge of trading. They dream big dreams and Think big. From a human being where his goals lie, they accept failure as a step towards victory. Also helps to learn from winning. Strengths can be expanded at any time. Successful traders are not chatterers.Advertisement