10 Rules of Success

success

10 Rules of Success

Forex let you make good money. You can travel around the world, work from any part of the world, but it requires knowledge, patience, initial capital. And most importantly, you must love this business.

Rule number 1: Accept the truth

Trading is often a coincidence. Imagine that we flip a coin 100 times. It is likely that one side drop out more than the other.
In trading we have roughly the same situation. There is enough statistical probability that your trading method will win more times than lost, and profits will be guaranteed higher than losses.

2: Plan your trading and then proceed according to plan

Your main target on the way to successful trading is strict adherence to your business plan. There are hundreds of trading systems, but without a clear plan, they do not cost anything.
3: Who does not spend too much – cannot lose too much

One of the biggest mistakes that beginner can make is to invest in a single deal too much money or get started with high risky instruments. Most people starting trading act lightly and often risk excessively. Of course the more money you use the great opportunities you have. And it depends on experience whether it will be profits or losses.

4: Do not think about money

Everybody needs money, and none likes to lose them. I do not think that you will like to see the money disappears from your account much faster than coming.
The main difficulty is to understand that the loss – it’s just a part of the process. Losses will be. In order to win, you must lose something.
If you cannot change your attitude towards money, then at least try not to think about it too much. Instead of money, focus on the numbers and general result.

Rule 5: Avoid emotions

Is it possible that subconsciously you want to lose money? Pre-programmed to self-destruction can occur at any time, especially among traders involved in intraday trading. If the price is constantly flashed before your eyes, you can lose control. You can start to feel that the price is playing with you, teasing you. So you must be very careful to avoid emotional trading.

Rule 6: Be your own boss

You are the only person who is responsible for your trading. For your success or failure you will be responsible only to yourself. No market no trading system not the government. Only you. Monitor your behavior during trading. Very carefuly track of your feelings. This will give you very useful information about your activities.

Rule 7: Think positively

Try to think and talk positively, otherwise you give your subconscious command to act in the opposite way. If you think negative, then the results will be relevant. Therefore be more positive.

Rule 8: Less often means better

The best time to trade is usually within the first two hours after market opening. Some traders also like to work in the last half an hour before closing.
Many short-term traders have the rule “three deals and finish.” If your trading limited to three deals per day, the stress level is reduced to a minimum.

Rule 9: Enjoy your life

Do you know, what do you trade for? Think about what motivates you. Successful traders live a balanced life. There is no point in spending a whole day on the trading.
Go out, meet with friends, meet new people. Forget about trading for a moment.

Rule 10: Keep a trading diary

Write down your thoughts. If you hesitate or fear with a deal write it down. When you finish trading write why.
Look at the depth of your soul. Maybe you will be surprised what you see there.

 

 

 

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