If knowledge about forex, trading mechanisms and how to conduct forex transactions via the internet is understood, then we can decide to be able to do real trade, but it is no less important, even very important to be prepared is our Psychology in determining trade policy Forex. Let's us note the following,
The primary basis of a trader who wants to be successful:
a. Forex trading is not a way to get rich quick. Being rich certainly can, but do not think to be quick to get rich quick, because this job fair as the other, which distinguishes only space and time.
b. Follow, learn and understand the analysis and strategies the professionals do. Nothing wrong with mimicking the way people who are already successful, always gather treasury strategy
c. Learn how to use technical indicators. In the meta trader user guides are available that can help to guide.
d. Know yourself. It is important to control the negative things that can worsen the way we trade so that we can avoid from the beginning.
Psychological mistakes that are often made of a trader:
a. Not having a trading plan. Fail to plan, plan to fail. For example, to determine the momentum, pullback and entry. How much we have to take the maximum profit and how much we bear the risk of loss as well as a plan we determine entry sell or buy.
b. Expectations were too high. Often, the facts turned around before we reached expectations, it could be because the desire is too high or too high a profit target that does not fit the facts market.
c. Making decisions without the support of data rely luck. This business is not gambling / gambling / speculation, and therefore the data and information we need to collect to take a stand.
d. Greed. Want constantly fortunately, did not want to lose, using a lot of the equity is too high regardless of the margin is a form of greed.
e. Do not place a stop loss. This would be fatal if left unchecked, margin call or loss we will never get the remaining funds. Plan your trading well.
f. Overtrade. Trade according to the ability of funds, time and psychological.
g. Blame the market, not me. Market is the fact that it is running, we can only plan, for it must not fight the facts.
h. Revenge. Losses not to reply in a short time, it takes patience and consistency to the way a good trade. Eager to avenge losses as well dig our own grave if one wrong step.
CONCLUSION
1. To succeed in trading, you have to be careful of your own emotions and use tools and strategies that they do not influence your decision. Most successful traders in the world are a lot more women, because women have good communication and they can control their emotions. There is no place for arrogant and haughty behavior or emotional instability in the placement market.
2. Learn and observe the reasons for the fluctuations in the market, get it from the Analysis or Fundamental or Technical Analysis
combine both. A good rule to follow is if one or the other does not seem right, do not trade. Never do transactions on trends just for the sake of being different from the others, we point out many times through this manual "TREND IS YOUR FRIEND".
3. Experience will give you the ability to understand the psychology of the market and to measure the balance between fundamental analysis and technical analysis.
4. You just need to be mindful of your own emotions and use behavior change is required, this will enable you to become a successful trader.
5. Understand that none of the training, understanding or information that can make you a good trader. The key is to be able to trade in the right level of emotion and without worries. If you do not feel yourself right, walk away until you feel yourself completely. Do not try to cover more transactions defeat or increase your profits; hold on to the plan. Identify your strengths and weaknesses. Take responsibility for yourself, your investments and your emotions.
0 comment(s):
Post a Comment