Forex Trading – 7 Essential Profit Tips From the Millionaire Traders
If you read about the world’s super traders, they all have a method which they part on and practice their craft in the markets and the method they all have in common is they make a commitment to themselves to make a certain number of trades per year.
In this article we will look at 7 essential profit tips the millionaire traders all have.
- Trade with Discipline
The novice traders wisdom is to let losses run and trade low odds trades and he does this in, one of his numerous examples he said, he lost over 95 trades but he had only made one winning trade.
If you don’t trade your method with discipline you don’t have a method at all, discipline is about sticking with your system to make it work. All traders have losses and keep them small, the system will win longer term but short term you must trade through these losses and with discipline.
- Trade Long Term Trends!
Many traders make the mistake of trading the noise of the market and day trade and scalp. สายบู๊ต้องดู! If you do this you will lose your chance to get the big profits from the big trends and this tips is all about trading long term trends. If you focus on these more sustained trends, the odds are on your side and huge profits.
Focus on these longer term trends and you will make more money with less effort.
- The Fatal Mistake Most Traders Make
Most traders get one or both of these traits and they lose money; เด็กอยากโดนควย there is no way to avoid them but you can win and make a lot of money.
Most traders think the way to succeed is to buy the exact low of the trend change and with this method you can make profits from the big trends – but how do you spot the change?
You need to wait for support and resistance to hold and for this you need to use some momentum indicators.
If you are not familiar with momentum indicators look them up – you will need to learn about the indicator, then learn some momentum functions and use them to time your trading signals.
The best indicator is the stochastic indicator, we have covered it frequently in other articles, it’s simple to use and takes very little time to effective.
- Be Patient
You don’t get rewarded for trading often, นักเรียนมอปลาย or the effort you put in, you get rewarded for being right.
The big trends can last many weeks or even months, milk them for all there worth.
- Trade with Discipline
The novice trader believes winning is easy and he can do it with a couple of weeks study but in a brutal market such as forex this is doomed to failure.
The savvy trader knows that learning a method is easy providing you have confidence in it, so he studies harder and applies his system with rigorous discipline. ดูหนังออนไลน์ If you can’t apply your method with discipline you have no method!
- Be realistic
The aim of most traders is to make no effort and get rich and they buy a junk sure fire trading system or robot and soon lose.
Most of the systems sold are junk and have never been traded but the good ones will make money – Why?
Because they have made money and they do this by utilizing proper money management. They have cuts losses and run profits and more importantly they have appropriate stops and give to profits.
This is not easy! all traders have losses, even the best and it’s in these losing periods that you must keep losses small and keep going, its as simple as that.
- Patience and Confidence
Learning a method is easy – applying it is hard, very hard and will take time to acquire but if you have confidence in what you are doing you can have confidence and discipline and enjoy big currency trading profits.
I often think back to my first profit making day and realise how un-easy it really was. โชว์นม reserves were huge and trust me, I was not the best at thelam to get that win – but after applying my method through the odds and Lessons learned at a small price, I have enjoyed a great second income for everday of my trading life.
Remember – All methods have losses, its in the consists of keeping losses small and running profits, that the big profits will come and more than compensate for this and in around 30 minutes a day you will be on your way to joining the 5% of winners.
For more information and to discuss your strategies with professional traders, please visit us athttp://www.online-currency-forex-trading.com