Whether you are an experienced trader or a beginner, a good tip can be always to have a measurable impact on your results.
Here are the result of the advice of the pro that we began last week :
9 — Be patient
It is a virtue… Especially with forex.
Developing a strategy takes time. Gaining experience takes time. Everything takes time, despite the fact that press buy or sell is very simple.
Wait for good trading opportunities requires patience. Wait until a position grows, it takes time.
The trading on the forex, is patience.
«I never asked» when is it that I will be successful.» I said to myself : «this will take the time it will take. «CHRIS CAPRE
10 — Learn to accept the loss
Losses are inevitable, and you will not be able to improve your trading if you do not agree with them.
«You have to know that taking a loss is part of the game. We must embrace this fate. If you can’t take a loss and accept that you were wrong, you’ll never be a trader to success. «JOEL KRUGER
11 — Develop a work routine
This means making the balance sheet and move forward. Prepare for each day of trading by doing proper research.
«As a trader, you are paid proportionally to your talent. «ANDREW BARNETT
12 — Do not spend too much trades
Spend too much trade may indicate (1) you are trading too often, in too short a period, (2) you risk too much money at the time, (3) you are addicted to the adrenaline rush related to the fact of being in a position.
«The biggest problem of novice traders : too many trades» JOHNATHON FOX
13 — Put in place a prudent management of your capital
What is the portion of your portfolio that you are willing to risk on a single trade ? 1 % or 5 %. If your risk tolerance is low, decrease the setting and wait another day.
«The rules of money management should be respected by all traders, all the time, for all the trades. «MARIO SINGH
14 — Follow the experienced traders
Learn from those who are familiar with the activity of the trader. If they are still there after years, it is that they have talent. Keep an eye on the advice of the great allows you to optimize your skills and therefore the quality of your own analysis.
«Follow what the big» NAVIN PRITHYANI
15 — do you Find a comrade of trading
«I trade with a partner and the possibility to exchange between us before taking a position is invaluable. «KATHY LINK
16 — Be regular
«I was not regular about my rules of engagement, and this was a big mistake. «RIMANTAS PETRAUSKAS
17 — Be aware of what you are doing
Be aware of your rules of engagement, your strategy, your money management, the impact on your emotions of the evolution of prices, of the different means that will have encouraged him to get in position etc…
«Self-awareness» TIM IKELS