Secrets of successful trading in the foreign exchange market Part II
Secrets of successful trading in the foreign exchange market Part II:
5. Account expectations: So far, we were discussing the
Choose a method of trading and to take effective precautions Say trading. However, when and how to know if
I had 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
What to do this, calculate the amount you have to trade in all your transactions in Bargains
Against the loss-making deals.
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 sign to identify if you are on the right track
6. Money Management: This may seem obvious
For 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 you will lose tomorrow, but
Least benefited nothing, experience a significant and useful. 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
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 to 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 increased probability of profit using
Leverage, the probability of devastating loss is also high in the forex market.
7. Building Confidence: by following the methods of trading
Set 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.
That's right no doubt, when succeed in your trading as a result of the method adopted by, 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
This in turn will make you a successful trader, which of course will lead you to success.
8. Homework last week: If you do not
Not noticed until now, many of the basic rules of life apply to trading
Forex and this one.
Anything you want to accomplish in life and in the forex market requires preparation.
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 of the Week
This method is very effective for several reasons, the most important is that you can work through the end of the week than
Not having to pressure the market and I need to make decisions, take 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 due to the tension, if the market reaches your point, March restraint and patience,
Will come and your time and if you did 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
Experiment and test as much as possible.
9. Register it all: This may seem trivial
For 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 make you believe that they 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 transaction.
This may include your emotions about the package, and the level of anxiety and 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 give you fast
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
The case with artistic endeavors, the talent is important but not much practice
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.
Stay tuned for all new..