The elements of a successful Trader
All transactions in currencies knowledge in the world will not help unless you have the courage to buy and sell currencies and put your money at risk. As for the lottery "You have to be in it to win it." Believe me when I say that the simple task of achieving the buy or sell key is extremely difficult to do when your own real money is put at risk.
You'll feel anxiety, even fear. That is the moment of truth. Do you have the courage to be afraid and act anyway? When a firefighter runs into a burning building, I guess he's afraid but he does anyway and achieved the desired result. Unless you can accept or overcome your fear and do it anyway, you will not be a good businessman.
However, once you learn to control your fear, it is easier and easier over time and there is no fear. The opposite reaction can become an issue - you're too and not enough focused on the risk you take.
Begin by analyzing yourself. Are you the kind of person who can control their emotions and perfectly execute transactions, often under extremely stressful? Are you the kind of person who excess of subjects and take more risks than they should? Before your first real trade you need to look inside yourself and get answers. We can correct deficiencies before they result in paralysis (not pull the trigger) or a huge loss (excessive). A huge loss can prematurely end your career negotiating, or prolong your success until you can raise additional capital.
Both the inability to open a trade or a loss of almost trade can create serious psychological problems for a trader in the future. By calling attention to these potential stumbling blocks before, you can prepare in advance of your first real trade and develop good habits from the first trading day.
The difficulty does not stop at "pulling the trigger." In fact, what comes next is equally or perhaps more difficult. Once you're in the business next obstacle lies in trade. When negotiating changes you leave the trade as soon as possible after the entry when it does not work. Most people who have been successful non-commercial enterprises find this concept difficult to implement.
For example, real estate tycoons make a fortune riding the bad times and the sale of the rise during periods. The problem of trying to adapt a "hold on until it is" strategy change is that most of the time, the currencies are persistent long-term, trends and directional your equity will be cleared before currency returns.
The other side of the coin is in a trade that works. Most often, the trap closes on a winning position without a valid reason. Once again, fear is the culprit. Your subconscious demons you will frighten non-stop with questions like "if new lot and you end up with a loss." The reality is so new is in a currency that is underway, the news has a greater likelihood of to be positive than negative (more on why that is so in a forthcoming article).
So, your fear is unfounded just an annoyance. Do not try to fight against fear. The accept. Have a laugh about it and then proceed to the task, which is determining an exit strategy based on price movements. As Garth said in Waynesworld "Living in humans today." With concern about what might be is irrational. Study your table and determine an exit point is the objective reality based and rational.
Another pitfall is closing a winning position because you're bored with it, its not moving. In football, after a star Running Back free for breaks 50-yard gain, he leaves the game temporarily for a break. When he reenters the game, it is a serious threat to gain more yards - that is indisputable. So when your position takes a breather after a winning move, the next event is likely to further gains - so why close it?
If you can be courageous under fire from patients and strategic transactions in currencies May be for you. If you are a natural and reckless Gunslinger you'll need to tone your act a notch or two and we can help you make the necessary adjustments. If invest your money at risk makes you a nervous wreck its because you lack the knowledge base to be confident in your decision.
The patience to acquire knowledge through study and Focus
Many new operators believe everything you need to trade currencies are profitable graphics, technical indicators and a small bankroll. Most of them explode (lose all their money) in a few weeks or months, some successes are first and we need as long as a year before jumping. A tiny minority of money with good management skills, patience and a niche market moving to the success of merchants. Armed with charts, technical indicators, and a small bankroll, the chances of success is probably 500 to 1.
To increase your chances of success almost certainty requires knowledge, the acquisition of knowledge takes hard work, study, dedication and focus. Compile your knowledge base without taking shortcuts, thus ensuring a solid base to build.
All transactions in currencies knowledge in the world will not help unless you have the courage to buy and sell currencies and put your money at risk. As for the lottery "You have to be in it to win it." Believe me when I say that the simple task of achieving the buy or sell key is extremely difficult to do when your own real money is put at risk.
You'll feel anxiety, even fear. That is the moment of truth. Do you have the courage to be afraid and act anyway? When a firefighter runs into a burning building, I guess he's afraid but he does anyway and achieved the desired result. Unless you can accept or overcome your fear and do it anyway, you will not be a good businessman.
However, once you learn to control your fear, it is easier and easier over time and there is no fear. The opposite reaction can become an issue - you're too and not enough focused on the risk you take.
Begin by analyzing yourself. Are you the kind of person who can control their emotions and perfectly execute transactions, often under extremely stressful? Are you the kind of person who excess of subjects and take more risks than they should? Before your first real trade you need to look inside yourself and get answers. We can correct deficiencies before they result in paralysis (not pull the trigger) or a huge loss (excessive). A huge loss can prematurely end your career negotiating, or prolong your success until you can raise additional capital.
Both the inability to open a trade or a loss of almost trade can create serious psychological problems for a trader in the future. By calling attention to these potential stumbling blocks before, you can prepare in advance of your first real trade and develop good habits from the first trading day.
The difficulty does not stop at "pulling the trigger." In fact, what comes next is equally or perhaps more difficult. Once you're in the business next obstacle lies in trade. When negotiating changes you leave the trade as soon as possible after the entry when it does not work. Most people who have been successful non-commercial enterprises find this concept difficult to implement.
For example, real estate tycoons make a fortune riding the bad times and the sale of the rise during periods. The problem of trying to adapt a "hold on until it is" strategy change is that most of the time, the currencies are persistent long-term, trends and directional your equity will be cleared before currency returns.
The other side of the coin is in a trade that works. Most often, the trap closes on a winning position without a valid reason. Once again, fear is the culprit. Your subconscious demons you will frighten non-stop with questions like "if new lot and you end up with a loss." The reality is so new is in a currency that is underway, the news has a greater likelihood of to be positive than negative (more on why that is so in a forthcoming article).
So, your fear is unfounded just an annoyance. Do not try to fight against fear. The accept. Have a laugh about it and then proceed to the task, which is determining an exit strategy based on price movements. As Garth said in Waynesworld "Living in humans today." With concern about what might be is irrational. Study your table and determine an exit point is the objective reality based and rational.
Another pitfall is closing a winning position because you're bored with it, its not moving. In football, after a star Running Back free for breaks 50-yard gain, he leaves the game temporarily for a break. When he reenters the game, it is a serious threat to gain more yards - that is indisputable. So when your position takes a breather after a winning move, the next event is likely to further gains - so why close it?
If you can be courageous under fire from patients and strategic transactions in currencies May be for you. If you are a natural and reckless Gunslinger you'll need to tone your act a notch or two and we can help you make the necessary adjustments. If invest your money at risk makes you a nervous wreck its because you lack the knowledge base to be confident in your decision.
The patience to acquire knowledge through study and Focus
Many new operators believe everything you need to trade currencies are profitable graphics, technical indicators and a small bankroll. Most of them explode (lose all their money) in a few weeks or months, some successes are first and we need as long as a year before jumping. A tiny minority of money with good management skills, patience and a niche market moving to the success of merchants. Armed with charts, technical indicators, and a small bankroll, the chances of success is probably 500 to 1.
To increase your chances of success almost certainty requires knowledge, the acquisition of knowledge takes hard work, study, dedication and focus. Compile your knowledge base without taking shortcuts, thus ensuring a solid base to build.
