The package provides articles on the topic of Forex Trading. The popularity and selling opportunity of this growing niche increases daily: every day people all over the world learn to participate in the science of Forex trading. These original articles provide full-fledged current information about Forex Trading: from the first steps in Forex, to advanced trading strategies.
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What is the real difference between a “successful or lucky trader” and a “loser”?
We would like to present you several observations that will prepare you to become a successful trader in Forex and increase your profits.
1. The biggest number of failures belong to group of daylight or short-time traders. The reason is not only the tight trading timetable, but in poor preparation and the lack of a game plan. This kind of trading won’t forgive you for any mistake. That’s why trading in mid-term and long-term periods provide more possibilities from a statistical point of view. The same can be said about capitalization: your success rate depends on your start-up capital.
2. Failures are often the result of complex systems and methodologies and are based on different recommendations. Successful traders use simple technologies. Complex is not always the best. Simple technologies and systems are generally more practical. The only question is, if the system allows you make money or not. So your own mindset and ability to analyze Forex factors, play the main role in the trading process. That is the reason why persistent traders are more successful than intellectuals or even self proclaimed “geniuses’.
3. It is important to know all of the functional principles of all of the factors in the Forex world. So if you want to become a very successful trader, you should find out as many technologies and methods as possible, in order to make your own system.
4. Failing traders spend too much time trying to predict where the exchange market will turn out to be tomorrow. Successful traders spend more time planning their reaction to particular and specific movements of the exchange market hourly, and implement a pre-planned strategy.
5. You should always pay much more attention to analyze failed transactions in order to understand where your mistakes were made. It is also important to pay significant attention to the ratio of risk to profit. Successful traders take into account possible profit and possible loss without paying attention to hypothetical maximums and minimums that are associated with “right” and “wrong” trading decisions.
6. Control your emotions! Try to be rational and detached from personal issues and your personal environment. Presence-of-mind is essential in the Forex trading arena, in order to maximize profitability and keep up with intense competition.
- (15) Articles in the Forex Trading Niche
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