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2010-07-15

Secrets of successful trading in the currency market forex


Secrets of successful trading in the currency market forex.

There are many different views when trading in the global currency market (Forex). Some traded according to fundamental analysis, others consider it ineffective and tell you all focus your energies to read the tables of technical analysis. Some experts will tell you by taking advantage of the leverage available to the forex market, and others will tell you to stay away from leverage, since the higher the leverage, the greater the risk. The following are some general tips for Mtajery Forex. Which can all be summed up in one principle, which is objectivity.

Remember. You do not have to follow every one of these rules Following literally, but considered as signs of the kind of philosophy that followed when trading Forex. Some of these rules may not be suitable for all traders, but general information, intended to guide you to the path of success.

1. Initial self-knowledge: This rule applies to almost any effort to take your responsibility in your life, especially if it involves high risk. Before trading one point in the forex market, it is necessary to know yourself. ماذا يعني هذا? There are methods of the myriad of trading, so before you begin this journey, choose your style. But, do not choose this method randomly. Set your goals short-and long-term, select how it intended to reach these goals, and then decided which method suits you best for trading based on your character.

Each method of trading advantages and disadvantages, and risks of its own, so when selecting the method, select it by type of your personality. For example, if you know about yourself just because you can go to bed and leave your position open in hopes of profit in the long term, then do so. If it were not of this type of characters, this would result in raising the level of anxiety, which in turn will lead to your failure in the future.

2. And the right Forex Broker: What to specify the type of Forex trading is right for you, you need to find a Forex broker fits your style. Not in a hurry in this matter. It is possible that this will be the most difficult decisions to be taken when it comes to trading Forex. Forex broker you choose will have undoubtedly the greatest impact on your success or your failure as shops Limited. Choose a facilitator if you choose a car. No one goes to the first car dealer and buy the first car he sees it. Must be read from two different brokers, and the advantages and disadvantages of both of them. You must do an extensive comparison of many mediators Total market.

The lower the tray to a small number of intermediaries, should be compared between the trading platforms of both of them based on the method that you chose the first step. For example, if you think you are more than just a dealer trading in the short term, make sure that the broker you choose offers comprehensive tools to support this method as part of the trading platform. Make sure that the broker you choose meets all your requirements from the service consumer support and even the main site of their status.

3. Selection and application of the approach: As mentioned earlier, there are two main schools of thought when it comes to analyzing the market and expected future trends. School of Technical Analysis is based on the famous sentence, "the trend your friend". The basic assumption is that the market has the sort of consistency and logic in his movements. If the move in this direction today, there is no justification for the lack of action in the same direction tomorrow. There are several types of tables to help you analyze market trends, as well as indicators and levels.

Then there is a school based on fundamental analysis, what is driving the market is already state-specific news. This method will tell you Petrkiza less on the scales yesterday and focus more on yesterday's news. Like many things in life, Both methods are not ideal, and stores the successful uses both methods. However, you must pre-determine which trading will be the main approaches, and to abide by it. If you think that the fundamentals play a greater role for trends, and focused your analysis and your outfit to watch the news and not to analyze the tables. Consistency of thought is the name of the game.

4. Synchronization of the tables: If you do not abide by the curriculum you have chosen to step 3, it will go a large proportion of your time looking at the tables the forex market. As explained, there are several different types of tables, but most simply show the same thing but in different forms.

Mentioned, there are some tables are very different and therefore must be inspected. You must pay very close attention to the time frame for the table that you are using. For example, if you follow a weekly schedule shows you based on your analysis a great opportunity to buy, make sure to open a table in a shorter time frame, daily, every hour, and that this time frame refers to the same result. If the result is different, delay, and wait until all tables are synchronized with each other. Fixed rule that guides you is to use a longer time frame for the analysis of direction (where the market moves) and shorter time-frame to determine the entrance or exit the market.

5. Account expectations: even now, we were discussing the choice of trading method effectively and take precautions Say trading. However, when and how do you know if you've taken the right decisions? For this, you need to calculate your profits and Khosaratk from time to time. You should review your history in trading and calculate the number of times bargains in exchange for the loss-making deals. What to do this, calculate the amount you have to trade in all your transactions in exchange for winning deals losers. Best trading figures appropriate for the analysis is the last 10 transactions. But if you still did not learn to trade effectively after, you can do with this account as well. Simply see the times in which he referred to your system the time is right to open the package. Then check if you have won or lost on this deal. Do this 10 times and write them all. This is a good indicator to determine if you are on the right track or not.

6. Money Management: This may seem obvious to some, but not as simple as it sounds. It's all about Pflsvetk and the way you look Bhaily money traded by. A good idea to think of the money traded by Forex that money is dedicated to the holiday. You use this money for trading with increased probability that you will lose tomorrow, but at least take advantage of something, important and interesting experience. However, this comparison is not valid only in this situation, and should not be duped. Trading forex is not a holiday. Forex thinking this way will you accept the simple psychological losses, which in turn will help you to become a successful trader.

Other useful information when it comes to managing money is to know how to use the leverage that offer you. Will warn you, many experts do not use more than 2% of the crane to your account. Thus, for example, if your balance 10.000 dollars should not risk more than 200 dollars on each trade. We have said so many times it is important to understand that with the increasing likelihood of profit by using leverage, the probability of devastating loss is also high in the forex market.

7. Building Confidence: trading tactics identified by yourself, you do not just become a coach Forex stores only, but also you can build your confidence, which of course is the foundation of success to the forex market. This is true no doubt, when succeed in your trading as a result of the manner in which followed, but this also applies to trading that lead to your loss is simple. No matter what happens, it is necessary to abide by people your decisions. Do not let your emotions control you, try a commitment to objectivity and the account when trading Forex. This in turn will make you a successful trader, which of course will lead you to success.

8. Homework last week: If you were not noticed until now, many of the basic rules of life apply to forex trading and this one. Anything you want to accomplish in life and in the forex market requires preparation. At the end of the week, when markets are closed, it is important that you Pthalilatk. Read news and saw movement in the markets last week and took important decisions next week. This method is very effective for several reasons, the most important is that you can work through the end of the week much of substance. There is no pressure to the market and do not need to make decisions, take your time as you like and relax and made decisions based on information on how and when to trade.

With the importance of this, it is not necessary to comply with this. If you decide to enter the market at a certain point, wait for this point. Do not rush it because of the tension, if the market reaches your point, March restraint and patience, your time will come and if not come, you will not lose anything, there is always another chance. Your primary goal here is to try to maintain the scientific method and make decisions based on experience and test as much as possible.

9. Register it all: This may seem trivial to some, but this may already be information that will distinguish it from other successful stores. No one ever thought they act objectively rational when it comes to their money. The best way to maintain the objectivity is the codification of everything.

When you decide whether you will open the package, draw a table of the reasons that made you think that it is a good deal. This includes technical and fundamental indicators as well. Then draw the same table showing the reasons for not opening the deal. Type exit and entrance points if you decide to enter this transaction and make notes to yourself about the deal. This may include your emotions and anxiety about the package, and the level of optimism as well. Select whether you are a more greedy when you close the deal, and always refer to this document when trading. In doing so, you follow the Mtajratk substantive approach, which will quickly give you the competence and control and mental training to carry out your transactions based on your system and not your habits.

Despite all these tables and figures and percentages, the Forex market is considered an art. As is the case with artistic endeavors, the talent is important but not much practice and training. This information will help you be more organized traffickers, accuracy, and therefore this will lead you to become a more successful trader as well. Whenever you are more committed to those rules, the more I watched your success faster.

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