Over 20 years in trading
It’s crucial that you forget and put behind your bad day in the market and move on like nothing happened. It’s not easy and it’s better not to trade if can’t forget it. Calm yourself and return in the market when you will be ready to move on, looking only forward, not backward!
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Don’t think that you can make money on forex after a several sesions of education. You will learn how to analyse and how to trade. But, earning money requires a lot more effort than a few hours of listening to teachers. After proper education be prepared for a long process of gaining experience, which will help you to make an important
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When I say this, then I definitely think exactly what it means. For you as a trader, there is so many factors which are important for you’re performance and one of the most important one is you’re felling or sentiment. If you ‘feel the market’ and you have a great analysis, set up’s and market is ready to make a move, take all
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You can have a great analysis and predictions, you can be 99% sure of you’re decision, but the market can always do the opposite of what you expect. Be aware of that and always expect the unexpected!
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It’s preaty clear what I want to say with this quote. Most of the forex traders want to trade for others and they don’t know how to make money for them selfs. I can say from my experience that, trading for others is way much harder then trading for you’re personal accounts. It takes huge experience for this kind of
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You can trade continuously good for days or weeks, after wich only one thoughtless trade could ruin you’re hard work. That’s why you need to be totaly focused on each single trade when you’re trading. Relax only when you turned off you’re platform, not during the action.
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Not to rush and to wait for the right entry level, to be enough patient to follow the movement calmly until the end is pricless. It is characteristic of the best forex trader.
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It’s not possible to make money on forex without risk and you should take a risk on each new trade, every day and for who knows how many times during the week and month. It’s the only way.
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Small mistakes can’t teach you nothing, but when you make a big one, you will remember that for a long time. That thoughts will keep you on focus next time and it will force you not to repeat it again.
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Each winner trade is good, but you’re winners must be bigger then you’re losses. I don’t mean in total, that’s understandable, but you have to set you’re targets at least at RR 1:3. Cut you’re losses if you’re not sure in you’re position!
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Previous moves and levels are not a guarantee of future moves and next S/R’s, it will be to obvious. You must find a new one by you’re own, before it happens. Trend lines are very helpful for this mission, use them.
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There is a thin line in between failure and success and you must be aware of this, because that tought will keep you focused 100% all the time.
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Forex Trader 