Monday, July 21, 2008
Currency trading training is not over when a trader finally sees the equity increasing in their account.
The Forex market is a very demanding environment and for a trader to maintain a success level, constant currency trading training is necessary.learn more.....
The following 7 favorite tips can be used as timely reminders and need to be read and absorbed on a regular basis:
#1 - Take Responsibility
"The buck stops here." Don't blame the markets, or a host of other factors for a losing trade. You entered it for whatever reasons you had at the time. Take responsibility for it.read more....
"The buck stops here." Don't blame the markets, or a host of other factors for a losing trade. You entered it for whatever reasons you had at the time. Take responsibility for it.read more....
#2 - Use Each Losing Trade As A Stepping Stone
You lost a trade? Good. It will help you focus on a potential problem in your trading method. If after careful analysis you are satisfied you worked according to your plan, fine. Move on.
You lost a trade? Good. It will help you focus on a potential problem in your trading method. If after careful analysis you are satisfied you worked according to your plan, fine. Move on.
#3 - Never Become Impatient With The Market
New traders in the early stages of their currency trading training can be eaten alive by the market. During periods of consolidation with little liquidity the anxious impatient trader will force trading opportunities where there none. Learn to accept the fact that around 70% of the time price will be in a consolidation channel.for more informations....
New traders in the early stages of their currency trading training can be eaten alive by the market. During periods of consolidation with little liquidity the anxious impatient trader will force trading opportunities where there none. Learn to accept the fact that around 70% of the time price will be in a consolidation channel.for more informations....
#4 - Focus Daily On Improving Your Trading Skills
Currency trading training is an ongoing process. Day by day, step by step the trader improves. So rather than be preoccupied with profits and losses, concentrate on developing the skills. Your account will start to reflect your focus in time.
Currency trading training is an ongoing process. Day by day, step by step the trader improves. So rather than be preoccupied with profits and losses, concentrate on developing the skills. Your account will start to reflect your focus in time.
#5 - Be Pleased With Well Executed Trades Whatever The Outcome
Is this possible? Yes. You can feel well pleased even with a losing trade if you stuck to your methodology and executed the trade well. It is dangerous to feel good about a winning trade when you went against your trading method to achieve it. Your elation is likely to be short lived. Learn to execute the plan!.for more informations....
Is this possible? Yes. You can feel well pleased even with a losing trade if you stuck to your methodology and executed the trade well. It is dangerous to feel good about a winning trade when you went against your trading method to achieve it. Your elation is likely to be short lived. Learn to execute the plan!.for more informations....
#6 - If In Doubt Stay Out
The feeling of regret can drain a person mentally and emotionally from entering a poorly considered trade. Once the trigger has been pulled and the trade starts going wrong, the agony of watching it inch towards your stop should renew in the trader the determination to stay out when in doubt!
The feeling of regret can drain a person mentally and emotionally from entering a poorly considered trade. Once the trigger has been pulled and the trade starts going wrong, the agony of watching it inch towards your stop should renew in the trader the determination to stay out when in doubt!
#7 - Always Have A Good Reason
Currency trading training involves careful analysis of reasons for entering a trade. Just because price is high is not a reason to go short or long if price is low. Price will do what price wants to do so rather than trading from gut reaction, e.g. "Price can't go any higher (or lower)" learn to detach emotions and use pure technical analysis to establish a number of reasons why you should take a trade.learn more......
Currency trading training involves careful analysis of reasons for entering a trade. Just because price is high is not a reason to go short or long if price is low. Price will do what price wants to do so rather than trading from gut reaction, e.g. "Price can't go any higher (or lower)" learn to detach emotions and use pure technical analysis to establish a number of reasons why you should take a trade.learn more......
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Profile regulatory information ForexGen is complying with all applicable international laws and all financial regulations and procedures governing its industry in order to sustain the security standards in the financial services world.According to the Federal Trading Commission (FTC) and Commodity Futures Trading Commission, all financial institutions are obligated in conformity with the anti money laundering laws (AML) that control money laundering and maintain the integrity and security of the international banking and financial institutions.
ForexGen is regulated by the international authorities against money laundering and in full compliance with the International Laws.This is the reason why our customers have to provide us with identifying documentation and the documents proofing the origin of their funds in order to secure that the funds that ForexGen will receive are fully and legally originated according to the European Trading Commission and the European Anti-Fraud Office.As the international banking standards imply, we preserve all the customer's account information both personal and financial. Our target is to achieve our principal goal, which is gaining the customer's confidence and reach to the maximum satisfaction level. ForexGen state-of-the-art encryption and confirmation rules and certification ensure that every trader's contract is verified and secured.read more.....
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