Trading in the foreign exchange market (Forex) is not based on any science. Optimizing the amount of trading in the account can only be made possible with the learning experience (either from a demo account, as well as from other traders who are more experienced) and reading books. The experience of learning and reading books is Key Profitable trading allowing anyone to become rich in a short time
Well, let's look at some important lessons that will certainly help in maintaining trading discipline and help you to get optimum benefit.
1 Control Your Emotions
Do not let emotions interfere when trading. Among all the emotions that exist in a human being, greed and fear are the two most detrimental, especially for a trader.
Greedy when to open position when trading showed a positive signal, will bring a trader at the beginning of the destruction of his career. Similarly, the fear of losing trade that forced traders to close positions at a loss (loss). While shortly after the Close position trader, he realized that the market has begun to move in a favorable direction. Always remember one thing: the market always support those who remain calm, patient with their trading, and avoid the unfavorable market movements.
2 Say "No" to Over-trading
Once the trader incurs losses in the previous trading, he thought to cover losses and enter the market again in the hope of profit. This action is not a wrong decision. But when a trader carried away emotionally and letting himself be controlled by emotions, certainly not an advantage to be achieved, but a loss for the sake of a loss.
In addition to Impact on the financial condition of traders, over-trading also bring bad effects on their psychological condition. Confidence level, the trader will be dropped. While on the other side of fear is increasing, due to which he often failed to enter the market when the direction is clear. In the end, the trader will be pessimistic and close their eyes when the opportunity appeared in front of his eyes.
3.Style and Trading Session
Between traders trading style is different, depending on the feasibility of time and ease with which they can when trading. However, most traders prefer to trade in the European session or the United States. Because the markets of both countries are usually stable in it and has a 80% probability to move in a single direction.
4. Closes Trading
The existence of Fundamental including speeches or conferences by policy makers have reflected a profound impact on the market. So it is advisable for traders to close positions prior to the event as a technical point failed, due to high volatility. Also, do not forget to close trading on Friday before the market closed for the weekend. You never know what the news or making what may appear on the weekend, which could cause a big gap open market.
5. Trend is Your Friend
Breakout occurs both in the state and also in a bearish trend bullish. For example, in a bullish market when you see a bearish breakout, selling is not a good idea. What you should do is buy more. The same is true for a Bearish trend, where the selling price at the time of the bounce can optimize profits.
6 Adding Position
If you are new to trading, your main goal is to play safe. Not doing some innovations that have never been done before. To try to do it in the open position when the Price is favorable.
Thus bout Powerful Trading Tips From Failure Spared i wish this article will give you best experience on trade
