10 Ways to Improve Your Forex Trading Routine Dic19

10 Ways to Improve Your Forex Trading Routine...

It is time to be a little more focused on the “focus” on your trading ways system. Many traders fail because they never implement a system that is truly focused on their trading style. Each works both online and offline, one of the most important keywords are the focus itself. Have there listening to the theory of how droplets of water that is capable of punching holes in a rock hard? It all cannot be separated from the word focus. Trading atmosphere less conducive sometimes difficult for you to achieve or improve maximum trading results. For example, load the mind of the office or the surrounding environment does not support fully to make you fitter and excellent trading today, should undo it first. Do not impose unfavorable circumstances, because the psychological atmosphere will determine the success of your trading. Here are several tips to successful Forex Trading that you can do: 1. Always plug the TP and SL: Many novice traders often overlook the name of Stop Loss (SL) and just put up Take Profit (TP) for each OP were performed. When actually trading without a stop loss is tantamount to let the overall margin you have. It is suggested installing TP and SL every entry you make. 2. Determine Hours of forex Trading is right for you: Determine hours trading fit for you please do a demo for 1 week or 1 month, look for a trade that fits (which gives you a lot of profits rather than loss). 3. Do not like see market trading hours if not efficiently you: If your trading efficiently if the time was at night, avoid to see chart during the day, as grooves chart it beats hollow body sexy girl and will always lure you to...

How to Stand Up Again After a Losing Streak in the Market Dic09

How to Stand Up Again After a Losing Streak in the Market...

The market is an unpredictable and unforgiving place, and it does not matter how savvy an investor or a broker you are or how detailed your analyses are—there would come a time when you would suffer losses, and there is not much you can do about it except accept. You may find it hard to face the truth at first. You could not believe that you have lost so much money practically in the blink of an eye. You may have blown all your hard-earned savings, or perhaps you have lost all your money without any chance of getting it back. One day you were at the top of the world and the next, it felt like the floor had been swept out of your feet, and you do not know how to get back up. This happens to the best of us, and what differentiates winners from losers is the capability to get back up after suffering from a major losing streak in the market. All is not lost until you give up. You need to regain your bearings, rethink your investment plan, and make a new move. Tips on How to Get Back Up After a Losing Streak There are several tips that you can follow when it comes to the matter of how to get back up after a losing streak in the market: • Coming to Terms with the Losses Basically, you need to understand that there are many types of losses, and you need to compartmentalize in order to make sure that you know what you need to handle. The first type of loss is a real loss—in the monetary sense. If you have lost money, it would be a blow to your psyche, and it would lead to the next type of loss, and it would be an emotional loss. The emotional loss may not sound so threatening, but this is actually the type of loss that you would want to watch out for the most because this is the one that often causes people to be unable to get back up. Once they have suffered from major losses in the market, the chance of losing confidence for good is very high. They may not feel like they are capable of competing in the high-pressure investment market, and they may give up. Make sure not to think this way, because you are capable of it if you would only try. Losses are normal and you should be able to grow because of them. • Reviewing the Nature of Your Loss Did you lose money in the market because of a mistake in the analysis you have made? Or did you lose in the trading market because of an unpredictable and unforeseen circumstance that caused the market to crash? Reviewing the mistake you have made and the losses that came because of it may be downright unpleasant, but it is necessary to know what you have done wrong and what you can do in order to make sure that you would not do the same mistake ever again. If you have lost because you did not make your calculations good enough, then make sure that the next time would be better. If you lost because of an unexpected market crash, then it is not your fault and you are simply unlucky. But you can take this as a lesson and make sure that the next time you have safety precautions put in so that even if the market should crash unexpectedly, you would not lose it all. One way to do this is by having an investment portfolio that covers a wide range of investments. Even though the market should crash, you should be relatively safe if you do not put all of your eggs in one basket. If you usually prefer forex, make sure to try out other types of investment too. •...

Why Most Traders Fail at Forex Trading: Are You One of Them? Nov29

Why Most Traders Fail at Forex Trading: Are You One of Them?...

Investment is such a clever way to spend your big buck these days. The investment will make your money grow and bloom while you’re just enjoying your time at home and talk to your broker or trader sometimes. However, if you prefer to jump into the business yourself and being one of those traders—beginner or expert level—some common mistakes at work must be avoided. Some mistakes are necessary to make you learn and not to repeat the same ones again. Mistakes sometimes make you be more experienced and successful, which is probably your only goal in the market now. So, have you avoided those mistakes yet, or perhaps you never had the chance to say hello to them? Doesn’t Comply to Trading Discipline Make jokes no more about trading business, this business also has its own discipline which is well known by the supposedly big players. The most important thing in the trading business is, never let the emotion control you on the game. This is important since emotion can make you decide something in the market without long and careful thoughts. As the result, you can lose some big money and your emotion can be involved even more. Everybody in the game knows that in order to make big wins, you need to sacrifice in small losses. Yes, experiencing some losses consecutively can be a hard time to handle, but that is what it takes to bring you to a big victory. Don’t let yourself afraid, even greedy, to control your decision in the market. Stay calm, follow the flow patiently, and you will find your wins. Going On Without a Plan Since trading business is a dynamic and fluctuating business, especially forex trading, you need to be more visionary in order to see some potential risks or opportunities. This is needed so you won’t get lost or wait too long when you’re experiencing some losses. You can’t use the ‘go-with-the-flow’ attitude in this business because a plan is very important in being a trader. Just like a saying, “Failing to plan is planning to fail”, you need a plan to take you to the most possible biggest wins and at least avoid yourself from potential losses, or make the losses as small as possible. To be a successful trader, you will need a documented plan for a month or even a year, which contains risk management rules and being specific about the ROI (Return on Investment). If you already have a plan, then stick nicely to it since it’s the only way you know for now to win some game. However, if you feel like some adjustments have to be made, then don’t hesitate since this business will fiercely eat up the weak and the slow. Unable to Adapt to the Market As explained before, trading business is a dynamic, fluctuating business, so you need to expect anything you can think of happening in the market. Related to the previous point—which explains how important is it to have a solid plan in the trading business—you need to adapt quickly to the market once it’s opened. As the market opens and changes, new opportunities and also risks will come up. Your job here is to make sure you can read the situation well and think of the best way to get the biggest win and smallest loss. One of the tips is to conduct a scenario analysis. This will be also followed by moves and countermoves plan for every possible market situation. This tip is being done by many traders and it is reportedly successful to reduce the losses. Just like another saying, “Practice makes perfect”, you may not be able to adapt completely to the changing market at first, but once you’ve got it, your adaptation skill will also evolve along with the evolving market. Trial and Error As a Way to Learn No, trial and error...

Your Forex Trading Journey Starts Here: All the Things to Know...

So you think that Forex trade can help you improve your earnings and solve your financial problems. Well, it is true for several cases, anyway. After all, Forex world is always appealing and attractive for those who don’t really know the harsh reality behind it. However, if you are thinking about starting your own Forex journey, there are some basic facts and knowledge to understand – to help you avoid mistakes, risks, and also losses. The Basic Principle: Keep It Real and Reasonable Since Forex trading is always seen as an interesting (and also easy) way to make money, a lot of people start to have impossible and unreal expectations about it. For instance, they are hoping to master the skills in short time or they are hoping to make loads of profits in a very short time. if those are your expectations too then I suggest you forget about Forex or any types of exchange trades at all because you are only guaranteed to lose all of your money for sure. There is no such thing as instant success; let alone an overnight success. All those skilled and professional traders have spent years in their attempts to understand the industry: how to understand the market movement or how to predict the next changes. Nothing is instant, so you should have a solid and logical expectation about the whole thing. If this world is completely new to you, make use of the available sources. Hit the internet, if necessary. After all, the internet is like a big unlimited library with free sources. You can find any sources, printed documents, or websites that are all related to Forex market. Use the sources to gain the best benefits for your need. Practice Makes Perfect Just because you have read 100 pages of Forex basic theory or you have seen the videos about the proper ways of trading, it doesn’t make you a master. Having a solid theoretical foundation is important, but trading is all about practice, so you need to put your knowledge into practical usages. After all, theories and practices don’t always go along well; there are unpredictable things that can make the real practice totally different from the theories. That’s why it is important to you to practice the real deal. All the professional traders that have succeeded in their trades don’t rely on theories only; those people have dealt with the real practice for years – it’s the thing that makes them skilled in their work. Click here if want more extended information. Don’t Be Afraid to Ask for Help and Guidance This is especially important for beginner traders: it won’t hurt your pride to ask for help from the experts. If you have enough money to spare, it doesn’t hurt to hire a broker that won’t only help you with your investment, but also guide you through the whole deal. A lot of people hire a broker for different reasons. Some people only hire the broker to manage the investment, while some hire the broker to guide them understanding the Forex world better. A professional, experienced, and skilled broker can help their clients manage the investments as well as understanding the implementation of the trade. If you are totally clueless about the trade, a broker is your solution. As it was mentioned before, you need to practice before doing the real trade, so your broker can set you up in one of the training sessions where you can use the demo account. Demo account is a simulation account that is almost the same as the real Forex account. Once you have understood the theories and basic principles, a broker will guide you in your demo account – how to set it up, how to deal with the trades, etc. Sometimes you may have to spend months operating the demo account before you can use the real account...

What’s Really Stopping You From Trading For A Living?...

Most people think that Forex is a lucrative business that guarantees the future to wealth and success. In fact, most people also think that once you understand Forex principles and you are doing trades in the market, it is an exact guarantee that you will be rich in no time. In reality, nothing is easy about trading, including foreign exchange. Yes, the possibility of profits is big, but so are the risks. It is so easy to lose all of your money in the game. That’s why you need to plan everything carefully and make sure that you stay within the boundaries. Trading for a Living; The Reality As it was mentioned before, people are often attracted to the ‘promise’ that Forex can be lucrative; it can make you get rich soon. Moreover, a lot of people underestimate this trading system, thinking that implementing Forex system is easy. After all, you need to buy at the lowest point and sell at the highest level to generate profit, so how difficult it can be? Just like other business (and economic activity), trading isn’t that easy. The theory may seem simple and easy, but the theory doesn’t always go along with the real practice. There are a lot of things that can affect the trade; sometimes luck plays an important role too. Forex trade requires careful planning, thorough analysis, and also regular training to minimize loss and risks. If you are thinking about trading for a living, at least know the basic facts so you won’t make instant and careless decision. Some people may make Forex trading as their way of living, but they have understood the risks and they really know what to do with the system. Being Logical and Reasonable It is so easy to be tempted by money and profits. If you are thinking about Forex trading and you are basically new to this, it is better if you still keep your main job; make trading as your second (or even third) job. Why should you never leave your main job? Well, the only thing that is stopping your from trading for a living is yourself. If you are new to this, it is likely that you put a lot of pressure and expectation to yourself, and when it happens, failure is the only outcome that you will see. You see, a new trader likes to have false expectations about the trade, which leads them to make a lot of easy mistakes (which can actually be avoided, if they are experienced traders). If you are a new trader, you will be familiar with such mistakes. For instance, you will feel that you ‘have to’ make a huge achievements and profit outcome in such a short time. You will feel that everyone is expecting you to make impressive achievements right away. In reality, all of these only happen in your mind. A new trader is always compelled to make achievements right away, instead of slowly build up confidence and better ways to trade in the market. If you feel the same way, it is better for you not to be involved at all in Forex because your failure is guaranteed. Click here if want more extended information. Bleeding Chips vs Scared Money Both of them are different, but they share the same similarities: they can make you fail in the Forex trading. Bleeding chips refers to a method in poker where big hits happening to your chip stacks. It means that you don’t have enough capital and yet you are forcing your opportunities and luck to make a successful trade. A lot of beginner traders make this mistake. When you start with a small account and you have made several successful trades, it is likely that you feel that you ‘must’ develop your account into a bigger one or you are compelled to make other successful trades – which...

How to Trade in Forex Market Nov04

How to Trade in Forex Market...

Foreign exchange, or forex as it is more commonly known as, is not a simple concept. Those who wish to master this subject need to dedicate time and effort and of course, money in order to be able to unleash the full potential of this business. But those who have mastered this art often find themselves with more money than they know what to do with. All they have to do is let their money work for them. Foreign exchange is like a double-edged blade. It could either be your salvation, or your downfall. There are several rules you need to know about if you wish to make good profit from this venture—the first and most important of which is the fact that you are basically gambling here. Of course, foreign exchange is legal and unlike the true form of gambling, you do not have to rely solely on luck, because the rates often reflect the state of market which could be estimated using analysis. Still, many people have lost a lot of money to unexpectedly downsizing economy. Only invest money you can afford to lose in foreign exchange. Be open-minded about losses, and secure gains as soon as possible. That is the single, most important rule. Key Terms You Need to Know in Forex Market The Foreign Exchange Market often uses complicated terms that beginner traders would have trouble following. If you do not know what is being said, you would not be able to make a sound decision. Several of the most important terms that would often appear as you are training: • Currency Pair Currency pair is the term used to refer to two currencies which are being traded against one another. The money you pay in order to purchase some...

First 5 Things You Need to Take into Account When Starting in Trading Market...

Doing a trade in Forex market can be tricky; it can be easy, and yet it can be difficult and complicated too. If you have never done any FX trading before, it is advisable that you use Forex platform and demo account to practice. But still….you need to have a direct and first-hand experience to really master the skills and nail every transaction. There are some crucial things that you need to understand about this whole deal. Unfortunately, not many people realize their existence or they even neglect those important elements. Be sure to know and understand those factors in order to become a successful FX trader. Get to Know Your Psychological and Emotional State Getting excited is okay; it helps you feeling pumped out and energized. But you also need to remember that Forex trading is more than just being excited about doing financial transaction. In Forex market, you are trying to gain profits and avoiding the possibility of losing your money. In most cases, beginner traders make mistakes by involving their emotions too much. You probably have spent a lot of time on the demo account and you have nailed almost all of the transactions. You get excited and can’t wait to try it on the real account. However, don’t forget that there is simple scientific explanation for your ‘bravery’. People tend to feel braver and riskier when they have nothing to lose. When you have a demo account, you know that it is only used for the sake of training; it is not the real account where you can lose real money. The real transaction won’t be that easy or that smooth. You probably excel in your training, but it won’t be a guarantee for your success in real life. Moreover, emotional people tend to get reckless. They may be ecstatic when they win several transactions, making them confident – sometimes being too confident, even. And then when they start to lose the deal, they get angry and try to ‘get back’ what they have lost – no matter what. They forget about any financial strategies or planning, until their real account is blown up. You certainly don’t want to end up with zero capital and no winning at all, do you? That’s why getting to know your emotional condition – and being able to control it – is very crucial. Click here if want more extended information. Make Sure You Love Trading Some people really love trading, and that what makes them successful. You can be a good trader if you like the activity, but in order to be an excellent trader, you need to LOVE it. There’s a great difference between love and like. When you love something, it means that you also put interest, passion, commitment, and determination in it. If you think being a successful trader or broker doesn’t require hard work or go through many ups and downs, then you are hugely mistaken. If you want to succeed in this market, you need to have strong will, as well as patience and discipline. You need to be immune to failure and losing. You also need to be realistic. You can’t be a 100% always correct trader, despite your success. Keep in mind that when there is winning, there is also losing. If you have 75% chances of winning, remember that you also have 25% of losing. Brokers and Chart Platforms Are Different You probably hire a professional broker to help you with this activity, but remember that not all brokers use the same charting platforms. Charts are important to help you make decisions about the transactions, so they should be relevant and accurate. If you can’t rely on the charts, what should you do then? Basically, you need to choose a broker that can offer you New York close charts. Since closing price is very important in any market, you need...