Achieving success in trading in the Forex Trading market requires avoid many of the pitfalls. Those pitfalls that may stand in the way of rolling in the forex market, which prevents him from the successful execution of trades and get the gains. In fact, the most experienced traders follow specific trading methodologies, these methodologies that have made them successful traders, there are general rules that adhere to these merchants meticulously.
Here are seven mistakes of the most common mistakes among traders in the forex trading market.
Note: This list is not placed in the framework of a particular order of importance.
The seven deadly mistakes
First: the failure to get a plan before you start trading the Forex trade.
The inability to build a specific plan of action before entering into transactions in the currency trading market is common among novice traders, as they begin to trade Forex without determining the appropriate time to enter and exit or currency pair to be traded, or the amount of money that can be traded. The presence of a specific plan in advance with the traders before you start trading, would provide them with the right road, which they should walk him to get the gains and avoid losses, it would keep them away from the confusion in the market when you get unforeseen events.
Second: the inadequacy of business assets or the inability to manage money.
Make sure you do not need a fortune to trade in the market successfully. Where the trader can trade at less than 5.000 However may succeed harvested a lot of profit in this market. Can be for traders who trade at $ 50,000 or more to lose everything. Felict the amount of working capital is the foundation, but the foundation here is the way you manage money properly, that trading involves a lot of risk, you will have to learn how to manage risks in the currency trading market.
Third: the very high expectations, or very nearby.
You might feel disappointed when expectations begin to make trading in the Forex market as part of the monthly salary, especially in the first few years of trading. But you need to be aware that you will not become a successful doctor, lawyer, or the employer in the first few years of practice. Where you need to work hard and persevere to achieve success in any field of work, and trading in the Forex trading market is no different from other fields of work. That currency trading is not an easy process, and make sure that the "get rich quick" is pure fantasy.
Fourth: the lack of "patience" and "discipline."
While these tufts required for many types of business, but it may lack many of the traders in different markets. Do not trade with haste. But you need to study the market and then make decisions in a wise manner. And you have to adapt to the market and do not oppose it, there is nothing one can alter or manipulate the market in the destination.
Fifth: Keep losing trades for a long time.
The most successful traders does not take Qilolth the a bad deal, not giving it a long time, hoping thereby to turn losses into profits. Where you see some traders usually stay on losing trades wishing market turned in their favor.
Sixth: excessive trading.
Trading a very large number of transactions in the market at one time is a grave mistake, especially if you have many losing trades. Then you will accumulate trading losses you have, regardless of the presence of temptation to make more trades to recover lost business assets, they process that takes a lot of focus by the merchant.
Seventh: not to accept full responsibility for your actions.
When you have a losing trades do not blame the broker or anyone else. You are responsible for the success or failure of your transactions. You are the owner of business decisions.
In the end, I would say, when to avoid the mistakes that we have mentioned above may bring you to many of the gains and experience in the market of currency trading, and make sure you are going to go wrong and you will lose but in the end you will get gains when adopting considerable experience in this area, as the poet said: Think not of glory Tamra you eat, will not reach the glory even licking Alsbera.
No comments:
Post a Comment