LET’S DISCOVER ILLUSIONS TO START
- Exchange trading is not a money-printing machine. In trading, more than 95% of traders lose money from month to month, from year to year. Some go so far as to lose themselves, their families, and their self-respect.
Think carefully before deciding and check Broker.cex.io to learn how to trade. Without dealing with financial markets, you will be richer than 95% of traders who constantly arrive in financial and psychological discomfort;
- Trading is a real profession… Trading, like any other profession, takes years to learn. It is not possible to master stock trading in a short period – because you have to deal not only with the market but also with yourself, with your emotions.
To master the profession of an ordinary engineer, it will take 11 years to study at school and another 5 years at the university. Now think about whether it is possible in the shortest possible time to master a new profession that can make you a financially independent person in an area where the majority is losing ?;
- Long-term, lifelong success cannot be achieved quickly. When focusing on trading, forget about quick money. In the market, you can only lose quickly, but it usually takes a huge amount of time to make money and make trading a permanent source of income.
You cannot pump up and build a beautiful body in one month of training in the gym. Each workout brings you closer to the target bar, which at the beginning of the journey is hardly visible on the horizon. But she is, and her time will come if the proper effort is made to this. A similar approach applies to trade;
SURVIVE AT ANY COST!
- A demo account is the first trading account that a novice trader must open. On a demo account, profit and loss are virtual. The trader does not risk anything at all while having the opportunity to master the trading terminal and start making the first transactions.
It is recommended to trade on a demo account as long as you gain confidence in your trades and in what you are doing in general. It is important not only to do some kind of work but to do it meaningfully. Only after that go to a cent account and start trading with little money;
- In the first stages of mastering exchange trading, set a goal for yourself – not to earn, not to lose. Learn to trade zero. Mastering the skills of trading to zero will allow you to instill in yourself the instinct of self-preservation of the deposit.
Zero tradings is a borderline bordering on loss and profit. Having learned not to lose, the trader moves to the next level – to earn a little.
BEST FRIENDS OF A TRADER
- Money management NT is the only thing that a trader can control in the market. Not knowing how to take risks, trading turns into roulette, in which the earned profit is just an accident.
Trading is cold calculation and harsh money management. Minimize losses and let profits grow. It is recommended to risk no more than 1% in a deal. Use a stop loss to take profit ratio of at least 1 to 3;
- Stop Loss- bulletproof vest for a trader. A conservative stop loss will warn the trader against losing the entire deposit if the price goes against the expected movement.
It should be understood once and for all! The grail doesn’t exist! There is no break-even trade! Losing trades are an integral part of successful trading. With the correct use of money management, taking into account the profitability of 30-50% of profitable trades to unprofitable ones, you can stay in good profit.
- The trades journal is the trader’s notes. In this synopsis, you need to record all your transactions: entries, position maintenance, exits. It is important to analyze every closed deal.
A detailed analysis of transactions will allow us to find errors and eliminate them over time. At the very least, the trader will learn not to fall into the same rake. Having learned not to repeat mistakes that lead to losses, we begin to effectively use the accumulated experience.
- If you want to successfully pass the road that others have already successfully passed before you, learn from them, study their books. You will have to read the trading literature! Reading is an asset when applied correctly. Beginning traders are advised to read the book “ 50 Forex Shades ”.
I also recommend that beginners study the work (books, videos, articles) of Alexander Elder and Alexander Gerchik… In his books, he combines technical analysis with the psychology of the mindset of traders. By understanding the psychology of the market, you understand things that do not lie on the surface;
- Don’t trust analysts more than yourself. Analytics- an expression of the subjective opinion of a private trader. An analyst, like any trader, tends to be wrong.
It is recommended to use analytics as an additional filter. First of all, learn to trust yourself. Thus, you will “grow” much faster. Another’s a mistake is a reason for grief and blame, one’s own mistake is a reason for learning.
- NEVER borrow, credit or installments to open a trading account or replenish a losing position that is against the trend and does not have a protective stop order;
NEVER sit out losses, do not average, do not use martingale. Such a trade initially leads to the loss of the deposit, but before that, put your nerves on hold;
NEVER aim for high percentages. The more profit is at stake, the higher the risk. The higher the risk, the higher the chance of losing a lot. Everything is interconnected. But, as a rule, not on the positive side of the trader;
RECOMMENDED FOREX BROKER
- Broker – is an intermediary between the market and the trader. The broker provides access to quotes in real-time, thereby making it possible to conclude trade transactions. The “quality” of trading and the subsequent success of the trader depends on the choice of the broker.
“You can be free. Live and work anywhere in the world. Be independent of day-to-day troubles and not accountable to superiors.
This is the life of a successful trader.