Web6/9/ · Here are what I believe to be the 3 keys to successful forex trading: TRADE LESS. Successful forex traders are snipers who trade less and hunt like crocodiles Web30/8/ · Profitable forex traders play a risk reward game while the losing traders are busy playing a casino game. Profitable forex traders think in terms of a or a risk Estimated Reading Time: 3 mins WebDo the exact opposite of what these 95% of forex traders do. Take the narrow, less traveled path, it leads to success. Take the wide path, and it leads to destruction. This is the key Estimated Reading Time: 3 mins WebTHE SECRET TO FOREX TRADING, Right? Well, this is a common thing among beginner traders. Beginner traders are always looking for the magic bullet, the easy way or the WebSecret Keys Of Successful Forex TradingI would like to share the most important things in forex blogger.com are 3 most important rule that we have to follow if we want became ... read more
I know what to do and yet I do the opposite thing. We all know what we need to do to be successful in forex trading because we have read books, we have trade money ourselves and we know from experience what we did wrong.
And yet, when the next time comes around again to trade, we tend to repeat the same mistakes. Its like there are two different people inside one body…like a split personality case. One is the logical personality that plans to do the right thing but the other one is just the opposite. One mind plans to do the right thing, the other mind does the opposite thing. So forex trading is like a roller coaster ride for many. Why is it that many act opposite to what they should be doing?
But for forex traders, its kind of a different story. The infant knows fire is danger and avoids it. The big question is why do we continue doing the wrong thing? The price movements repeat from time to time, and it helps traders to understand the Forex market and to create some tools for trading analysis. Thus such popular methods and instruments of technical analysis as Elliott Wave analysis, Gartley pattern analysis, candlestick pattern analysis, analysis of WD Gann, various expert advisors and indicators were founded.
As it has been already mentioned, the market is very unpredictable. This means that the trading process requires some humility. A trader should respect the "will" of the market. He should have humility to manage the situation when the market is moving against the analysis and trading strategy. A trader with his strategy on the Forex market is like an adventurer who stays alone with GPS device in the forest.
But at a specific moment, his GPS turns off, and he goes in the wrong direction. When the adventurer gets lost, he tries to remember his way, realizes his mistakes and makes decisions which help him to reach the goal.
The same is while trading if you have humility to stop for a while and to think over all the mistakes which were made you will reach your trading goals. Humility helps to keep calm in any situation. Professional traders are those who have the patience to wait until the conditions on the Forex market correspond to their trading strategy, and they have an opportunity to make a profit.
Patience is required from the moment the order is opened and till it is closed. But it is especially important in the middle of a transaction when trader needs to watch the price movement which can go any direction and stay calm in order not to close the order too early or too late.
Nial Fuller, a professional trader, said that the most appropriate animal to describe himself as a professional trader is an ALLIGATOR. Crocodiles exist in this world for millions of years.
Alligator does not spend their time on small prey. It saves energy for the big prey, staying patient and waiting for a long time. But as soon as the prey is in the range lunge, alligator does not hesitate to grab it. Of course, alligator's hunting is not always successful. But this animal has the patience to continue doing its job and finally reach the desired goal. Discipline helps trader to stay cold-minded and to open and close each order without hesitation and fear.
One of the ways to manage uncertainty on the Forex market is to discipline yourself. When it is impossible to predict the market movement professional traders protect their accounts with self-discipline.
They create the trading plan which they don't break no matter what the situation on the market is. Discipline helps the trader to stay cold-minded and to open and close each order without hesitation and fear. He believes in the profitability of his trading strategy. And even when the market moves against it, the trader remains calm and respects the will of the market.
This situation is not a surprise for the trader because he has already thought over the worst scenario which can happen while trading. The Forex market is neutral.
Only traders give special meaning to every movement of the price. They interpret the conditions which occur on the Forex market due to the experience and knowledge they've got. But in fact, the real Forex market is neutral! For a newbie Forex charts are nothing more than colored beams moving up and down. When a trader gets some experience, these movements become signals with special meaning which he can use in his trading strategy.
What is the secret to forex trading success? Is it the trading strategy or is it risk management? Well, all of these are important… But what I think the real secret is this: doing the exact opposite of what most traders do. This is the key to success in forex trading. I know what to do and yet I do the opposite thing.
We all know what we need to do to be successful in forex trading because we have read books, we have trade money ourselves and we know from experience what we did wrong. And yet, when the next time comes around again to trade, we tend to repeat the same mistakes. Its like there are two different people inside one body…like a split personality case.
One is the logical personality that plans to do the right thing but the other one is just the opposite. One mind plans to do the right thing, the other mind does the opposite thing.
So forex trading is like a roller coaster ride for many. Why is it that many act opposite to what they should be doing? But for forex traders, its kind of a different story. The infant knows fire is danger and avoids it. The big question is why do we continue doing the wrong thing? I think it has to come from within. You need to find it within you…to stop doing the wrong things in forex trading.
Only then will forex trading success come chasing you. Take the narrow, less traveled path, it leads to success. Take the wide path, and it leads to destruction.
no patience to wait for proper trading setups no trading plan get rich quick mentality counting pips instead of focusing on account growth over a long time period. RELATED Top 9 Best Forex Price Action Trading Websites On The Planet. Prev Article Next Article.
WebThanks there are 3 most important rule that we have to follow if we want became successful trader Confidence to our rule of trade2. Discipline to our money WebPeter Mauthe said it best: “Don’t invent trades.”. When it comes time for me to pick a protégé, I’d pick someone who’s patient any day over someone who’s smart. 7. Trading, Web6/9/ · Here are what I believe to be the 3 keys to successful forex trading: TRADE LESS. Successful forex traders are snipers who trade less and hunt like crocodiles WebAbout the Author The FX Chief™. Jared F. Martinez is a Forex author, trading mentor, market analyst and entrepreneur. As the founder and CEO of Market Traders Institute, Web30/8/ · Profitable forex traders play a risk reward game while the losing traders are busy playing a casino game. Profitable forex traders think in terms of a or a risk Estimated Reading Time: 3 mins WebSecret Keys Of Successful Forex TradingI would like to share the most important things in forex blogger.com are 3 most important rule that we have to follow if we want became ... read more
To protect your trading capital you can use the risk management, and money management is for geometrically growing your trading account. Reply Sign in to reply to this comment. Manage risk. We Are… Trade Revenue Pro. But it is especially important in the middle of a transaction when trader needs to watch the price movement which can go any direction and stay calm in order not to close the order too early or too late.
And, believe me, if you've been trading for just a short while, you know when you're doing the wrong thing. Another advantage is that you can visually display your trading results using various chart metrics. Money is just something you need in case you do not die tomorrow. If intelligence were the key, there secret keys of successful forex trading be a lot more people making money. But here is the truth, there is no such a thing called Forex Trading Secrets.