Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,198,042 members, 7,966,834 topics. Date: Saturday, 05 October 2024 at 02:44 AM |
Nairaland Forum / Nairaland / General / Investment / 15 Secret Traits Of A Successful Forex Traders. (1009 Views)
Any Successful Forex Trader Here?? / Any Successful Forex Trader Here Please. / Qualities Of A Successful Forex Traders (2) (3) (4)
15 Secret Traits Of A Successful Forex Traders. by Rukky2010: 11:35am On May 13, 2018 |
1 INVEST IN YOURSELF BEFORE YOU INVEST IN THE MARKETS In any business endeavor, a good understanding of the business, an identification of opportunities, thorough risk assessment and a sound strategy are important to success. 2. LEARN THE RULES OF THE GAME: You need to learn and understand the rules before you start to trade. I can help you if you need a forex mentor. I made over 80% of my trade with my signals 3. PRACTICE, PRACTICE, PRACTICE: Practice makes perfect! This also applies to trading the markets. After mastering the theory, rules and trading techniques, a time comes to put all that knowledge into practice under real conditions, but with a demo account first. 4. START SMALL WITH A REAL ACCOUNT: This will help you develop your trading psychology, emotion and overcome the fear of loosing. 5 LEARN TO IDENTIFY THE TREND: The trend is your friend. We have all heard that phrase so many times in forex trading, but many traders don’t follow the wisdom behind the words. Well, successful traders do! Their success depends on identifying the trend early on, following it and understanding how to maximize its benefits. 6. LEARN TO IDENTIFY TREND REVERSALS: A trend reversal marks the end of an existing trend and the beginning of a new one, and it’s the fastest way to “jump” on a new trade. This can happen in any timeframe and it can make the difference between a big win, a break even or a loss. Successful traders understand that very well and use it to their advantage every single day. There are free ebooks that can help you on how to identity the trends. send a mail to forextools10@gmail.com 7 DEVELOP A TRADING SYSTEM BASED ON TREND FOLLOWING & TREND REVERSAL: There are thousands of trading strategies out there, which may be confusing for a beginner. Don’t worry, though, as most strategies are trend following. 8. TEST YOUR SYSTEM Practice helps achieve expertise in nearly every sport and vocation. Consistently profitable traders, otherwise known as expert traders, have one thing in common: They test their trading systems. This will help you to find out how suitable the trading system is for you 9 INCORPORATE RISK MANAGEMENT RULES: One of the most important elements of a successful trading strategy is the existence of risk management rules. These rules define initial protective stop loss, take-profit levels, reward-to-risk ratio and last (but not least), position sizing. 10. ALWAYS PLACE A PROTECTIVE STOP LOSS 11. TRADE ONLY HIGH PROBABILITY SET-UPS 12. NEVER TRY TO BEAT THE MARKET, FOLLOW THE MARKETS INSTEAD 13. DO NOT LET YOUR EMOTIONS TAKE OVER; 14. ACCEPT LOSSES. THEY ARE PART OF TRADING: Losses are part of trading. The sooner a trader accepts that loss as a part of trading, the faster he/she will have a clear mind to focus on managing a trading position. Even the best professionally designed trading system will at times experience losses. 15. NOTHING IS 100% IN LIFE. TRADING IS NOT AN EXCEPTION: Life is full of ups and downs and it’s also full of surprises, some good and some bad. The same is true when trading the financial markets. Always expect the unexpected and be prepared to handle it and manage it like a pro Finally: DETERMINATION, DISCIPLINE AND KNOWLEDGE ARE IMPERATIVE TO SUCCEED IN THE MARKETS For Reliable forex strategy ebook Drop your email address or send a mail to forextools10@gmail.com For Reliable forex strategy ebook Drop your email address or send a mail to forextools10@gmail.com |
Re: 15 Secret Traits Of A Successful Forex Traders. by Rukky2010: 10:25pm On May 16, 2018 |
For those who need a forex strategy materials. Please drop your email address |
Re: 15 Secret Traits Of A Successful Forex Traders. by crowniran(m): 12:58am On Apr 19, 2019 |
Rukky2010:Good evening ma'am, I am a beginner in forex would love to have this. This is my email; olugbemigajohn@gmail.com |
(1) (Reply)
HP Laptop Mini For Sale / Naijataxi Changed To Mysafepay Has Real Is This Business / EXCLUSIVE: How To Make 6 To 7 Figure Selling Hot Products
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 12 |