In order to win on forex, as practice shows, you need to understand very well why and with what you came there. Well, to win was constant and stable, discipline is very important here. And where discipline – there are rules that are better not to break. Of course, on the one hand, the law is not written to the trader, there is no boss over him, which attracts many in the exchange trade. But on the other hand, the principles and rules worked out on their own are like a fence, within which there is much more calm and less risk.
What rules will help the trader not to go bankrupt, and in a short time to become successful?
1. A trader must learn. This is an axiom. The market is changing, and you have to keep up with it. Well, the basic principles of the forex market is best purchased in advance, before making the first transaction.
2. Must be a trading system. We are talking about a set of principles on which the purchase or sale in all cases. Trading systems are different, but they all serve the same purpose: to help the trader understand the success of some of his methods and, if necessary, correct them.
3. Trading need to be sober. Many traders get excited, but for them it ends badly in all cases. It is important to understand each of your actions and be able to explain to yourself why you did this and opened this particular position.
4. From everything you need to extract experience. If you lose – sit down and think what was done wrong. If you win – figure out what principle you used, and develop it further.
5. Deposit management is a very important thing. Learn not to deal with big risks, where you would lose most of your money in case of failure. The optimal ratio of estimated profits and losses is about 3: 1. That is, a loss limitation order is placed much closer to the deal line than a profit order.
6. If you are new, learn from a virtual account. You can also try out any strategy without risking anything.
7. Do not seek to conclude a lot of deals at once, otherwise the attention is scattered, and in practice a full analysis does not occur.
8. Select several indicators and try to set them up correctly instead of using a very large number of them.
9. Do not seek to earn a lot at once. Think not about money, but about mastering the basic principles.
10. Do not forget to rest. The more recent you come to the monitor – the greater the chance that you will not miss a winning deal and do not conclude a loss-making one.