To
achieve success in trading in the Forex Trading market requires avoid many of
the pitfalls. Those pitfalls that may stand in the face rolling in the forex
market, which prevents him from successful implementation of the deals and get
the gains. In fact, the most seasoned traders follow specific methodologies for
trading, these methodologies that have made them successful traders, there are
general rules that abide by these traders meticulously.
In
the end, I would say that will help you avoid the above errors may bring you
many benefits and experience in forex trading market, and make sure you are
going to go wrong and you will lose, but in the end you will get the gains when
adopting considerable experience in this area.
The
seven deadly mistakes
First,
the failure to get a trading plan before you start trading.
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
start trading without determining the appropriate time to enter and exit or
currency pair to be traded or money that can be traded volume. The presence of
a pre-defined plan with the traders before you start trading, it would provide
them the right way, which they must Askouh for gains and avoid losses, and
would keep them away from the confusion in the market when you get unforeseen
events.
Second,
inadequate business assets or the inability to manage money.
Make
sure you do not need a fortune to trade in the market successfully. Where a
trader can trade at less than 5.000 However it may succeed harvesting a lot of
profit in this market. Can dealers trading with $ 50,000 or more to lose
everything. Is no amount of working capital is the basis, but the key here is
the way you manage money properly, Indeed, trading involve a lot of risk, you
will have to learn how to manage risk in forex trading market.
Third,
very high, or very close to expectations.
You
may 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 have to realize you are not going to become a successful
doctor or 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 are required for many types of business, but it may lack many of
the traders in different markets. Do not trade rashly. But you must study the
market and then make decisions wisely. And you have to adapt to the market and
do not oppose it, there is nothing one can alter or manipulate a market.
Fifth:
keep loss-making deals for a long time.
The
most successful traders do not take Time off in a bad deal, and giving it a
long time, hoping thereby to turn losses into profits. Where you usually see
some traders remain on the losing trades wishing market turned in their favor.
Sixth:
excessive trading.
A
very large number of transactions in the market trading at the same time is a
grave mistake, especially if you have many loss-making deals. Then you will
build up trading losses you have, apart from the presence of the temptations to
make more trades to recover business assets that were lost, 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 mediator or anyone else. You are
responsible for the success or failure of your transactions. Thou His business
decisions.
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