The Secret to Success and profitable trading - What is it?
I will give my own point of view regarding this question based on my own little experience,assuming one trader already have at least a basic understanding of markets and MM and is ready with a basic plan of action.
First thing to do is to get out as fast you can from any place ,forum,thread,chat room where people share their own views on charts or make any kind of predictions. This until you get strong brain training to be able to ignore anything can come from anyone,you need to be a lone wolf into this journey and never lose money on others people hand. If is to lose then lose on your own hand and learn something from it while you move forward.
Never follow anyone,more than 95% of those so called guru's fail in any predictions in short -medium and long term,just cheap talks. Market dont exist to make one little retailer rich over night,just look around
Make a plan include MM and follow it strictly ,dont change the plan just cos you had a losing day. Take the loss accept it and move forward on next hunt.
If you have a base plan already find a set of indicators who may help you with guidance and better view on your charts ,less of them are always better,cleaner charts always give a better view.
Than set your page for watch calendar important stuff,set your twitter for following important news data to be somewhat up to date,and try make one correlation in long term between all this important data and your charts,never fight against the market just cos ''you think this must go there or there'' . the biggest losers around are all those who always say ''price must''.
Never forget youre a retailer ,last little piece in the big chain of action,so act accordingly.
Never trade more money than you afford to lose,never trade with plan in mind ''I must do money for this or for that'' is the fastest way to failure.
Trade money that even if you lose them will never affect your way of life,like this you will never have any pressure.
Never trade real money even low amounts if you had a bad day,youre not in good mood.Try to be fresh and positive mood when you sit at your desk watching your charts for any opportunities.
Never set goals in money or pips cos market will slap you so hard and until you will understand your goals will never meet the market movements important and unknown price levels for a retailer,you will get so frustrated and human nature tend to revenge after one loss (any loss). Revenge against market never work.
As I like to say when is about market ''Take what you can and try to give nothing back'' .
cheer up!
I will give my own point of view regarding this question based on my own little experience,assuming one trader already have at least a basic understanding of markets and MM and is ready with a basic plan of action.
First thing to do is to get out as fast you can from any place ,forum,thread,chat room where people share their own views on charts or make any kind of predictions. This until you get strong brain training to be able to ignore anything can come from anyone,you need to be a lone wolf into this journey and never lose money on others people hand. If is to lose then lose on your own hand and learn something from it while you move forward.
Never follow anyone,more than 95% of those so called guru's fail in any predictions in short -medium and long term,just cheap talks. Market dont exist to make one little retailer rich over night,just look around
Make a plan include MM and follow it strictly ,dont change the plan just cos you had a losing day. Take the loss accept it and move forward on next hunt.
If you have a base plan already find a set of indicators who may help you with guidance and better view on your charts ,less of them are always better,cleaner charts always give a better view.
Than set your page for watch calendar important stuff,set your twitter for following important news data to be somewhat up to date,and try make one correlation in long term between all this important data and your charts,never fight against the market just cos ''you think this must go there or there'' . the biggest losers around are all those who always say ''price must''.
Never forget youre a retailer ,last little piece in the big chain of action,so act accordingly.
Never trade more money than you afford to lose,never trade with plan in mind ''I must do money for this or for that'' is the fastest way to failure.
Trade money that even if you lose them will never affect your way of life,like this you will never have any pressure.
Never trade real money even low amounts if you had a bad day,youre not in good mood.Try to be fresh and positive mood when you sit at your desk watching your charts for any opportunities.
Never set goals in money or pips cos market will slap you so hard and until you will understand your goals will never meet the market movements important and unknown price levels for a retailer,you will get so frustrated and human nature tend to revenge after one loss (any loss). Revenge against market never work.
As I like to say when is about market ''Take what you can and try to give nothing back'' .
cheer up!
Take what you can, give nothing back
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