Best 10 Commandments To Be Successful Trader In 2017?
Tips for those who are still in the learning stage.
Shops novice who decides to resort to the Internet in search of useful information will be tough way, the amount of this information most likely will not help him. So better not to rush and take advantage of professional experience. We have formulated 10 tips for those who want to get started.
1. Study the basics
Rushes a lot of novices into battle without knowing anything about the markets. Successful trading need to be a solid foundation: very long to examine the work of the Forex market mechanism (or any other trading market is preparing for them), and understand the terminology and basic rules of behavior. After that study ways of successful trading and choose the strategy. You can get the necessary information from any Forex course for beginners.
2. well managed from a single trading strategy and stick to it for a while
The most common beginner mistakes of the constant change of the way of trading. Better to be able to one specific way, for example, when the method of price movement based on the only price change is traded, and after that you can. You can try something new. When your strategies are constantly changing in the hope that you will find a magical way, the false hopes take away from real money. No need to change the strategy as well as after several losing trades, all the way accompanied by a certain percentage of losses, and this is normal. You may not lose your patience because of the losses. To succeed in trading you need to open an account here Wall Street Focus Group.
3. Do not demanding the impossible yourself
In the beginning it is easy to sink in Seoul of new information, this happens for each one. In order to facilitate this stage look for a teacher and take advantage of his experience. One teacher and one way and the white pages of your mind: all that is delaying it until later, when he would have understood what to do.
4. Do not worry if the trend against you
Most traders, especially freshmen them, worry when they encounter this. In real trading this problem more severe than the use of educational account, quality of feeling different because the money which is a real owner you. But the problems requiring solution: Start from the recognition that the market trend against you is normal. No need to panic and close positions, because that can lead to loss of sales due to the perigee, as well as the loss of potential profits concrete. Here’s the perfect solution: Select the stop loss at a certain price, and select the size of acceptable risk deal, and then you relax. No need for excessive control, leave the market is doing its job and go to watch a football game or to the gym or go back to sleep tomorrow. In many cases, the optimal strategy is not to touch anything.
5. Focus on the movement of prices
I forgot about everyone, and many believe, that in the past, people are trading without computers. There was no software packages, not RSI and MACD and Stochastics not Bots trading … but the prices were present. To analyze the tapes were printed or written on large sheets, and people were interpreting the price change or the movement of prices. This is how the «natural» only for trading, and appeared in the eighteenth century, when Japanese traders invented candles scheme to predict rice prices. This method is effective and does not need to be complex. Trading based on price movement if successful so far collected between discipline and logical thinking and patience. Thus, you can give up on a variety of indicators and news events.
6. Be realistic
It is the most important thing you must learn novice. Even if trading began in your pocket a hundred thousand, you do not dream that you will stop soon from work and travel to live in the Maldives. Such promises do not hear only from the scammers. Rational question: Is it possible to earn a lot of money from circulation? Yes, certainly, and the possibilities are unlimited. However, this is difficult, especially from the psychological point of view, because you will focus your mind located. In order to avoid must be realistic to the extreme. People who dream of vast riches venturing risking too much, and as a result lose not win, so what’s that?
7. trading on the destroyer
Continuing the key to success for the gradual march. It is a cliche, yet they are correct. Make frequent trading traffickers vulnerable mood to commence mistakes that harm their account and self-confidence. He writes a lot about this subject, but unfortunately no one understands the importance of it before it’s too late. That is why we repeat: I do not need to hold many positions in order to win, and understand the cause of this, read about the difference between high frequency and low frequency at The Cash Loophole System.
8. Focus on chart during the day
The first thing that should teach you is to begin to interpret Charts and trading in accordance with the movement of prices.
9. Do not Stop define a very small loss point
This is a difficult, but important. Most traders spend too much time and money to realize this rule: stop loss should be located at a distance of «safe» entry price. If stop loss very soon early and there will be an opportunity to capture the movement of the market in the desired direction. Even if your expectations are correct, you have graduated from the center before the event.
10. Start learning!
Weird What most people who start trading without the slightest attempt to learn about it first; then after that incur heavy losses they decide to get an education. If this sit behind the wheel of a plane when you see the first time and almost die and then convinced that the idea of ??learning leadership is no harm in it. Funny? But what this does a lot of novice traders. Learn trading with AurumTech first and then sit down at the screen. Do not try to lead the plane before they learn it!