Here we will give you 10 orders that all successful traders live and the reason they do is the key to success in the currency business. Here they are, make them part of the forex education you need and win ..
These orders can be your key to success in the currency business so they are by no means important here, they are all important there!
1. Acknowledge that you are responsible for your financial success
If you want to follow a guru, mentor or sure fire trading system you will lose. Only you, as the parent can know for sure.
2. Use a simple system
Simple systems work best and always will because the Forex market is not mathematical in terms of price movements, there is an odd based market.
3. Accept losses with pleasure and do not accept them personally
You’re going to lose for the period but it’s not something personal, you have to accept them gladly and accept the loss and keep them short as part of the win.
4. Understand that money management is the key to success
Is Money Management Just Putting A Stop? Your mistake, you need to know how to manage the overall account equity and how to set up a stop with volatility so make it a part of your much needed forex trading education.
5. Trade prices do not change and do not forecast
If you think that you can predict the forex market in advance you will lose, just trade the reality of price change as you see it and there will be adversity for you and that means big profit.
6. Maintain discipline to follow your system
If you can’t follow your system with discipline, through the loss period, your system doesn’t! You must implement your plan with discipline and it is built on confidence in your trading plan.
7. Be patient and wait for the right opportunity
Many traders think that the more transactions they make, the more likely they are to succeed but this is simply not true. High potential trades do not come every day and you have to wait before trading.
8. Have the courage to take big profits
Most traders snatch profits quickly but if you look at a currency chart, you will see that the big trends last for weeks, months or years, so dare to hold on to them and drink milk for all their value.
9. There is more to life than trading
If you are obsessed with trading, chances are important to you, your emotions will be involved and that means you will lose.
10. Understand perfection is not possible but big gains are made!
Most traders spend endless time trying to find the perfect system that predicts or never hurts and this is a futile search. Take the market for what it is, a market where you lose but with a logical, strong forex trading strategy you can win in the long run.
I hope you enjoyed the above rules and you can use them to earn big forex.