90% of traders are not ready before they officially engage in trading
The years have passed fifteen years, Eastforexcashback I am aw cashback forex of the hardships along the way Today I am writing th cashbackforexbtc article to give some advice to the current East forex cashback whites to control your hands and forexcashbackcalculator to trade frequently! The first thing I want to tell you is to "control your hands", frequent trading is the beginning of the trading trap I have communicated with many students (novice traders), many novice traders have caused substantial losses because of excessive trading I was in the beginning of contact trading, it is also the case, it is easy to overtrade, sometimes a day trading When I first started trading, I easily overtraded, sometimes dozens of times a day, and finally my money was "looted" by the market. Do analysis to be calm, do not be hot-headed, pat ass decision any one transaction should be rigorous analysis, develop a plan, or do not worry about the fear of missing the market opportunity, it does not matter if you miss the economy is moving forward, the financial market can not disappear, will always exist (at least in your lifetime will always exist), there are financial markets there are trading opportunities, do not always worry about missing the opportunity to make money! Remember: its better to miss trading opportunities than to mess with trading plans! I advocate low-frequency trading, there is an old saying: beautiful things need to wait! The opportunity to make money also needs to wait for traders to think snipers, the best shooting conditions do not have, never shoot indiscriminately, once the conditions are available, decisively pull the trigger, a kill traders should also do so, the conditions are not met, never act rashly, once the conditions are ripe, decisively open a position to hold a small position, strictly prohibited heavy position! The capital is the capital, the capital as life guarding the wealth is more difficult than getting wealth! The capital is the source of profit, before making money think about how not to lose money in general, only overweight positions will cause a significant loss of principal, a significant retraction of profits, the position is the key to risk management, good risk management people are not overweight positions, they are always light trading or use other financial instruments to hedge the risk some traders are gambling mentality to deal with the transaction, like heavy bets, to experience the ups and downs of life. Experience the ups and downs of life, the end of this kind of people, there is only one, that is: burst profits need to be patient, do not rush to seek money! For money, everyone is more or less greedy for it, but some people, greed for money is too eager, which has become a major bane in the trading high returns in trading often requires patience, in trading, do not rush to seek money, once people are confused by money control, that has lost their sanity, trading is a highly planned and disciplined work, the loss of sanity is the most terrible thing! Impatient traders usually show: first, excessive trading, hoping to trade more and more, the more you earn; (see more good foreign exchange articles, please go to the foreign exchange academy) second, premature profit taking and closing, many traders in the realization of small profits after profit taking, they had done the right market direction, but always eager to turn the floating profits into their own account of funds, and thus close the position early; third. After finding out that they did the right direction, they kept adding positions, and finally formed a heavy position, hoping to make a lot of money on this one of the above three practices are wrong, do not commit! In the early days of my trading career, I often closed early profits, and I often regretted it at the time, every time I earned less loss more patience reflects discipline, managing their own mentality than managing trading strategies is more difficult, which you need to comprehend, training, there is no way to help you, only rely on yourself do not always change trading strategies, suitable is the best! Many traders are always in pursuit of better trading strategies, because they always feel that their trading strategies are not good enough, and always doubt their own trading strategies here to remind you of the word: the right is the best! The trading strategy needs to be integrated with the traders own trading decision should be based on the characteristics of each person, each persons personality, experience, mentality, way of thinking and philosophy are different, these factors will affect a persons perception of trading, resulting in each persons view of trading is different, and thus suitable for each persons trading strategy is also different thus there is no one trading strategy No one trading strategy works for everyone, and the best one may not work for you! If you are still changing trading strategies frequently, it means that your knowledge of trading is still shallow! 15 years of trading experience tells me that trading and life, trading is a marathon, trading is not a sprint, not spell explosive power, but spell endurance trading in the last person who can persevere is the winner, and the rest have been eliminated by the market short-term victory or defeat can not say anything, laugh until the end is the winner Finally, if you decide to engage in the trading business. Be prepared for the long term, trading will become part of your life, everything you experience in trading will closely affect your life, including your financial situation, your interpersonal relationships, your family relationships, your mindset, etc., how the future, experience to know!