In Forex trading, there are key success factors specific for traders to succeed with Forex trading. From some time ago I have collected information on the internet from a different experience of Forex traders who left their mark on various Forex brokers, blogs and forums in the world.
From that, I have realized that people who do not obtain profitability have a certain profile and those who have other profiles defined perfectly. To be successful or not, that is the question.
For people who are just starting out or for those who have been trading for a long time, this is a valid recommendation to help us to work on the strategy, and let luck to guide our future earnings. These are some important factors to the following:
Here are the deets…
This is the strategy that I have not invested enough hours in testing, polishing aspects that we do not like or fail. There is a possibility that we will lose money and then after we use it in the real market.
By keeping a trading diary, you can save a screenshot of the trade of good and bad and also record your feelings at the end of each session.
The purpose of this key is when in the future we are presented with the same operation, or where we have doubts, we have the history to see how we did in the previous time that can be analyzed for future decisions.
You need to know how to find the best hours to trade. You should know that during all hours of the day there is not the same movement and activity in the market.
Usually, the best hours to trade are the opening and closing hours. Try to focus only on the first two or three hours of the market opening and the closing of Europe and America.
The last important factor is a realistic goal set for yourself. This key is based on the fact that a lot of times we set ourselves the goal of which is so large that we could not reach them.
That is why it is more useful to set goals to achieve medium and that you will achieve the overall goal which at first seems difficult to achieve.
You should start by reading and researching the market events, social and economic. Everything is affecting this market that can be changed by any event.
Set yourself a goal and strategy set during the time period. Pursuing goals and not be influenced by how others have done it. Everyone should have their own way, if you allow yourself to be influenced by other investors, you will continue to change your position.
Do not aware of the risk of your profits. a good trader will never risk more than 10% of its capital.
Trades that might have been successful today will definitely fail tomorrow. Conform to the trend and movement, learn with time and experience to interpret
You do not always win and you do not always lose. Keep in mind that it is the market and the probability of unexpected movements and that, perhaps, if we invest in Forex we will lose a percentage. What you should avoid is that profits, at the end of the day, exceeds the percentage losses.
Do not despair. A bad streak in trading can block you. The best thing to do is to stop, think and recapitulation to find out what you have done wrong.
Forex is designed for investors who want to trade and earn their way through their efforts, their own advantage.
So, if you start Forex, enjoy, learn every day and make the most of your good business acumen. Remember always try to generate the predictions by yourself such as strategies, signals, etc. By studying the market properly you can generate the BEST Forex signal for you.
Besides, no strategy is very famous in the ’10 pip trading strategy ‘. It seems simple, but it is not. This strategy clearly reflects the key to realistic goals.
This strategy is based on getting 10 pips on average each day. If you achieve small goals every day, your long-term goal will be achieved no matter what.
Finally, in a short period of time, you’ll find yourself in a stable position.