Here we summarize tips seasoned and successful traders who also have undergone professional Trader (trading for Living ) .
1 . Create a trading plan and description well . Criteria , you have to know when :
Open position
How many digits Stop Loss and Take Profit 'ideal '
Got a financial management strategy ( money management ) . This is related to how long you are trading in a month , how do you account for the level of resistance loss risk , when the attraction of funds , when adding funds , and the allocation of income to savings , investment and consumption .
2 . Make the trend your best friend ( Trend Follower ) . Do not fight the market trend ( though not including mandatory rules ) . If prices are rising , you can put a Buy and vice versa when prices are down then you can install Sell position . Most people often take the opposite ( counter trend ) and often wrong - although there is also often true :) .
3 . Keep well and carefully your capital . Do not allow your capital to $ 0.0 . If that loss , try to keep 10-50 % of your capital , so that when the time comes to add funds or injeck , Euro or dollar paid- not too big . Imagine if you had to add substantial funds for Forex trading due to your loss .
If in two or three trades already spend 20-40 % of capital due to loss , stop for a moment . Hold yourself to open a new position . Do not obey yourself to " get even" or " want return on investment " . Try to calm your mind and your head . Arrange your trading system back in the Demo Account . Set aside 3 days - 1 week to try trading system in the Demo Account .
If already established , please go back to the Real Account .
4 . Knowing when to dispose of "toxic " . The term poison is a Buy or Sell that have been opened which has a floating ( floating position / not closed ) negative or minus a sizable position . Say if Buy GBP / USD you have -150 points in a span of 2 hours , is it still worth keeping . Or if the position of AUD / USD is minus -100 within 20 minutes , is still loved-baby ? ? !
Ah , the price right back again later . Well , if the price ndak back and forth , we become " poisoned " himself , both mind and body . We can physically ill to think of a position that has not closed that reached 200 points for example . Just remember, for the money these days is rather difficult yah . If so ndak productive within 2-3 hours , well to be amputated / Cut Loss . Cut , remove the already bloated and unproductive . Moreover, who would make the position stays , more than one day with more expected profit well and also get premium flowers , put obligatory Stop Loss . Our advice , if you want to continue the next day, attach a Stop Loss 200 points from the point of your open positions . Use a Trailing Stop if the facilities provided by the trading platform .
Stop Loss Plan as early as possible . These days , price action for the Euro & Pound reaches 200-400 points per day . Determine ideal Initial Capital & Stop Loss you with a situation like that .
5 . Do not be emotional . If it reaches the target daily or monthly , get out of the market . Do not be greedy .
Avoid fear . Now it is linked with tips no.6 , be informed . If you already know how far the price can move with technical indicators and fundamentals , do not look for disease . Do not hesitate to put a Stop Loss or Trailing Stop to limit losses .
6 . Be smart and informed . Not intended to support one private TV, but be a smart trader . Smart here is no basis why should Buy and Sell why . That is, you should research the market as Fundamental and Technical . Daily News of Open Belajarforex.com or Forexfactory.com . Adjust the date and time to the time in which you reside .
7 . Immediately write your trading on a trading journal . Make a note Profit / Loss Your daily . Also take note of the causes , why and why profit and loss . My Trading Diary .....
8 . When prices move sideways or a little , do not enter the market . Essentially if you own conscience hesitation , how about your forex trading . Your Forex Account URLs just as a car that takes you on a profit / gain .
* Not applicable to those who are his specialty in the market sideways !
9 . Do not trade too much or excessive . In one day , you're a scalper for a maximum of 10 times the position . You are good for a maximum of 2 Daytrader Swing Trader positions and fewer still . Remember , the condition of technical analysis and fundamental Forex frequently change from time to time .
10 . Never Give Up . Do not give up .. Do not ever give up . Loss of Demo $ 5000 in 1 month , Try to fund $ 1,000 . Loss , came back with $ 3000, and so on . Find trading system that works for you . The goal is only one : Profit & Consistent .
ok thanks
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