forex cashback easy

50 Habits of Successful Traders (II)

50 Habits of Successful T 100%cashbackforexaders #2: Eleven: Lock forexcashbackeasy small profits Many econom cashbackforexts forex cashback easy market fundamentalists believe cashback forex financial markets are unpredictable This is not entirely true! When markets go into consolidation mode, they usually move with uncertainty and lack of direction but when the accumulation reaches a certain level of breakout or divergence, the market does trend and shows up on the price chart Obviously, for all trend followers trending markets are a dream come true This is the stage where you can make money but what about market shocks? What about unexpected events? Price going in the opposite direction is enough to turn a profitable trade into a losing trade ensuring that you get what you deserve and lock in potential profits as the trend unfolds on the price chart XII: Incorporating Risk Management Rules Imagine your boat is entering rough seas and you are the captain if you have a lot of safety tools on board such as compasses, life jackets, emergency radios and inflatables. wouldnt you feel more at ease? The same applies to the cashbackforexpip market. We may not want to consider the worst-case scenario, but it is absolutely necessary to do so. One of the most important elements of a successful trading strategy is undoubtedly the setting of risk management rules that determine initial protective stops, trailing stops, profit levels, risk-reward ratios and, last but not least, position sizes. One of the most attractive aspects of trading is leverage. Leverage is the reason why investors can make more profit with a small deposit. Yes, but at the same time, leverage can also cause significant losses, because as quickly as profits are generated, so are losses! Leverage is a financial tool that allows investors to make more profit with less money, but unfortunately, leverage can multiply profits as well as widen losses, and can quickly deplete a poorly managed trading account. Risk management principles are often rushed into the market without any risk management principles Massive capital withdrawals, stress, lack of discipline, and of course the impossibility of avoiding margin calls and forced closings can be disastrous to an investors psyche and trading account! Before entering the market or opening a position, an investor must understand the risks How much money could you lose if the market does not move in the direction you expect? Have you set a protective stop loss level? How much margin do you have? Taking the time to calculate your position before each trade may reduce your problems a great deal in the long run If you are an inexperienced novice, it is recommended to use a cent account with FUTURE FX with a minimum trade size of 0.001 lots, which is only one-tenth of the 0.01 lots of a standard account Fifteen: Always set a protective stop loss There is this scenario Suppose you are walking on a tightrope between two buildings and you want to take proud of not having any safety tools, or would you prefer to know that a safety net will catch you halfway if you fall? A safety net doesnt interfere with your mission, it just protects you if the worst happens This is the nature of protective stops, but many investors dont use them usually because of too much ego in the trade! Who wants to admit that they were wrong or that their trade went wrong? Who wants to admit they were wrong or that their trade went wrong? Its painful indeed, which is why human beings rarely admit their mistakes, put aside your pride and arrogance, become humble and know that even the best traders use stops as part of their trading. In the quest to find the perfect opening point, investors often overlook the fact that opening a position is only one part of trading in the financial markets, and that many other parameters are equally important to successful trading. As profits increase, successful traders adjust their moving stops to levels closer to current prices to prevent unexpected situations. Expectations, market rumors, news announcements and the high volatility surrounding the event so attractive that many investors ignore the dangers and risks of repeated quotes, slippage, uncertainty of direction and the resulting frustration are just some of the consequences violent two-way price swings do not leave a lot of room for maneuvering, especially for most beginners keen on short term trading XVIII: Determine the trading hours of the foreign exchange markets most attractive features One of the most attractive features of the Forex market is the trading hours 24 hours a day, five days a week Yes, 24 hours per working day Obviously, this schedule is suitable for investors anywhere in the world, but you have to be careful! Before you start trading, choose the time that best suits your lifestyle, trading situation and personality and study the characteristics of these trading sessions to learn how currencies and other financial instruments move during those trading hours. Do prices move sharply or calmly? Do prices usually move in narrow ranges or are there usually trends? Before you decide on your trading hours, be sure to do some research and consider the realities of the situation 19: Strengthen your sense of discipline Having a professional trading system and risk management rules is not enough Self-discipline is a prerequisite for all successful traders, the good news is that it can be mastered, all it takes is some willpower on your part, just like an athlete who gets up at 5am every morning to train, your trading must have strict This involves learning about the market (especially the species you will be trading), paying close attention to the relevant news, and strengthening your self-control Self-discipline cannot be taught, but there are many ways to master it You just need to find what works for you Successful traders take the time to perfect their self-discipline, and you can do the same Twenty: Dont Overtrade Overtrading is another investor habit worthy of Overtrading can stem from boredom, greed and loss of confidence, which is a very dangerous thing to do Sitting in front of a screen for hours staring at price charts, looking for promising trades is not the easiest thing to do because it requires patience Investors want to trade they want to buy and sell they are impatient to open positions with a keystroke or click of the mouse This is exactly what beginners and intermediate level investors want to do after taking profits After a profit, their ego swells, they feel more confident, they find it easier to open new positions quickly After a loss, their ego suffers, their confidence is lost, and its easy to start trading straight away to heal overtrading means an investor usually hasnt thought through his next move, which invites danger and risk Stick to your plan Dont let your ego and emotions control your trading decisions Learn more Forex - forex basics, how to speculate in forex questions and answers, please visit: forex learning section