Useful Tips to Success in Currency Trading

[tauf]

decisive in forex trading when it already has an advanced knowledge is able to control the psychological pressure, because of the psychological state of the trader specifies the maximum corresponds to the level of thinking of knowledge possessed

 

 

 

[yasrielkarunia]

The real reason forex traders to lose is their approach to trading itself. Here are 4 things to avoid in order to succeed in trading.

 

1. Overtrading

 

Overtrading is the main reason most traders struggle to gain momentum in the forex market. Overtrading occurs when trading with lots is too large or too frequent. As a result, traders experience a lack of capital, targets become unrealistic, and even trading saturation (trading fatigue).

 

The solution is to train our approach to using only objective logic and methods. Plan your trading and take your position appropriately.

 

2. Not adjust to market conditions

 

In forex trading we have to adapt to market conditions and do not rely on one strategy alone. The forex market is dynamic so traders must be able to discuss market climate changes and risks throughout trading.

 

Remember, every risk must also have a chance to make a profit. Follow financial news and trend changes, and understand monetary policy.

 

3. Risk management is bad

 

Big and small our initial capital, we must have a risk management mechanism to protect if conditions worsen. Risk management is an important part of trading strategy, which serves to avoid a big loss. With proper risk management we can ensure the amount of loss will not be great.

 

4. Unrealistic expectations

 

Forex trading is not a get rich quick scheme, but one form of investment that has financial and psychological pressures. Therefore, every forex trader both expert and newbie must be loyal that the key to success is consistency and patience.

[Elyas]

the most important of all is money management. we must be able to adjust our capital to the risks we take so that large capital with measured risk, and small capital with little risk. not a small capital with a big risk so that if the movement of a few pips alone can make our account suffered huge losses and to restore it will be difficult and takes a long time

[gaban]

For the desire of success in forex trading this is one of the things we should run well. we have to keep trying and the spirit, business risk should we manage well and it is common in business and traders must be able to understand and learn well how it works so that can make us more master and manage trading properly so that we can gain advantage big

[Gee Dee]

Thanks for sharing your views. Today forex market is becoming one of the largest financial markets around the world where we traders are receiving the chances to earn money from currency trading. But without being patience and endurance we can’t think of survival here. We traders also need to sharpen our trading skills since forex is a dynamic market. For the safest side, I also think that it is good to trade with major pairs since forex is highly unstable.

[gaban]

Success in the forex business is certainly where not one of the business that is not easy, business forex business risk is very big there, so where we keep trying in the skill to increase the maximum ability to make us can be maximal also in the way of this forex trading. Traders need regular learning to make us able to trade more profitable

[Sininfinity]

the most important of all is money management. we must be able to adjust our capital to the risks we take so that large capital with measured risk, and small capital with little risk. not a small capital with a big risk so that if the movement of a few pips alone can make our account suffered huge losses and to restore it will be difficult and takes a long time

 

Agree with you. If one can manage to keep his capital then he or she can have another opportunity to make profit from the market. But if one trades recklessly and loses all the money then there is no next opportunity for him or her.

[bearhugs]

There are serious traders. Nearly 90% of traders are dabblers. Most of them fail and quit the market within a year of starting. Successful traders are few and to become one it requires hard work.

[Sininfinity]

Well nothing in life comes easy so we should not expect anything less from forex. Everyone in the forex market is for profit and everyone can not be successful here.

[uncle gober]

the most important thing is that the trader must be able to do maximum training and learning first before actually going to carry out trading activities in order to survive and manage the funds and risks better than before.

[Alick Bannerman]

I never really try to be anything special because I am not special in trading. So, my tip/suggestion is relatively simpler and based upon common sense. It is to make sure you have good strategy, right money management and determination to follow it up regardless of the final outcome.

 

And do just that with starting up on Intel stock price forecast, it sets my game right. Once that’s there then you can plan around smoothly and confidently.

[Namu]

of all the needs that need to be prepared to become a successful tarder, the important thing is to prepare the knowledge of fund analysis because forex trading is in two directions where each buy or sell has a risk of each, I also still learn to set Money Management on real accounts

[uncle gober]

good and correct preparation must be done well by traders, this is done so that traders can get better and be more leverage in running trades that are in line with expectations when on a real account.

[Sininfinity]

I never really try to be anything special because I am not special in trading. So, my tip/suggestion is relatively simpler and based upon common sense. It is to make sure you have good strategy, right money management and determination to follow it up regardless of the final outcome.

 

This is a good suggestion. If you know your analysis is good and then you should stick to it. One thing to keep in mind is that you can not make profit from every trade. So expect losses as well.

[Namu]

A good trading psychology must be owned by a trader. And therefore, we should start trading using a small capital account first to understand what forex real trading is like. As we understand forex trading, we can also take advantage of brokers' promos such as the cashback promo that I use today