RSS
Tools
Apr 3
6.2 Trading Like A Pro

 

What makes the excellent traders successful?
May be they are “lucky”? Have they found some “secret” indicator?
No.
In fact they have found the truth about forex trading. Forex trading achievement is as simple as 1-2-3.
Step 1 - To comprehend what forex trading is all about
Step 2 - Learn what a champion day trader does
Step 3 - 3 The do it. Consistently
1. The Spirit of Successful Forex Trading
Forex trading is all about percentages. You enter a trade because you feel that your chances of success are greater than failure.
The task of discovering suitable trades goes to your forex trading system. There are several books and lessons that explains forex trading systems. The real forex trading system you use is not part of this article, you need to understand this.
If you are looking for the ideal forex trading system you know, the one that gives profits on requirement you will be looking till the ultimate time. To be a successful forex trading you should know the game of probabilities. You don?t have to be disappointed as you know how many academics, doctors, and lawyers especially lose their wealth in the forex trading market each year.
The positive preference arrives from your forex trading system. Our simple advice is to keep it simple. Find a system in which you can comfortably work with. Recognize why and when you go in and when you leave. Then pursue it.
Certainly, some forex trading systems present a higher profitability than others. But don?t be obsessed. Just don?t be too absorbed. The actual determining factor is your capability to pursue forex trading.
2. What Makes A Successful Day Trader.
A flourishing day trader is the one who pursues a forex trading strategy. Your forex trading plan tells you when to enter a trade, and when to exit. Has a plan to enter and also a plan to exit. Whichever the aim or only to get stopped out. Parabolic SAR, lower Bollinger, natural support and struggle, instability stop. At all. Every trader should know the unchanging law of probability. That with a positive preference and a rational attitude to management of money (cutting losses and letting profits run) finally you will emerge as profitable.
Something it makes day forex trading very demanding is because of the speed. You normally carry out trades faster, and multiply your gains faster ? that is the reason we do it.
That is the reason behind a day trade not being stressed out, unlike the drug addicts who lives from one minute to the next.
A talented day trader know that its only another trade its all about numbers in action.
The significant points here is the regularity. Like heads/tails example, one time when you are not trading s when the forex trading market leave and never comes back again.
Day forex trading is boring. Keep it that way.
Day forex trading is a boring job. Keep it hat way
3. Method To Develop The Day Forex Trading Mind
Whenever you are looking at the forex trading screen, always remember that “trading is statistics in action” No one is aware of what the forex trading market going to act. It’s a law unto itself. You pursue what works “most of the time”
Once you come to know that forex trading is about probabilities, that any forex trading system is planned to provide a positive preference over the long term, then all you have to do is to carry out the forex trading strategy. Therefore what is it that stops you from thriving?
You,
or somewhat emotional you.
While forex trading you have to develop the mind of a professional trader. Try this for 30 days and you will know how it works for you.
AT the beginning of the day trade.
Step 1 - shut your eyes, and tell yourself about the facts of forex trading “Trading is all about probabilities”.
Write this in a piece of paper and label it on your computer monitor. So that it keeps on reminding you.
Step 2 ? Envision following your forex trading plan. Going in a trade on signal. Leaving at the appropriate time. Forex trading the appropriate match for your account.
Step 3 - Imagine each trade as small part of a huge picture of forex trading. You possibly want to imagine it as a medium, with 100 boxes. Every trade is not important in contrast to the whole arrangement. Establish your own appearance for this. Forex trading is a visual activity. You required a visual symbol to move away from the nearness of actual time forex trading.
During The Trade:
Step 1 ? First relax yourself. Note the meaning of emotion A physical disturbance. You require to lessen your emotional strength as much as you can. Avoid it slowly.
Be aware of your whole body. Remember the last time you got stressed. How did it feel like? Tense shoulders? Stomach muscles tightening? Relax those areas now. Know thyself.
Note - none of this suggests that you should be slow about entering or executing trades. Quite the opposite! In real-time forex trading you must be fast. But you are operating from your rational, thinking mind... and not the panic-induced animal mind fighting for survival!
Be conscious of your body. Remember when you were last strained. How it felt? Your shoulders were tense. Tightened stomach muscles. Now relax those areas. Know yourself.
Always remember that non of this explains that you should be slow in executing trades. But you need to be fast, while operating from your rational, mind. Not just panic induced mind struggling for survival!
Step 2 ? Breathe! Few traders don?t breath well while they are busy trading. Breathe slowly for a count up to four, hold it for four, and breathe out for four.
Step 3 ? Concentrate on yourself. Pursuing a forex trading strategy is a ?no brainer? You go in. You follow a stop. You leave. Self talk helps remain in the state. Note that when you are looking at the price in actual time, there is a great danger of adding up emotional energy to a simple circumstance. See how you are feeling. Watch any tension and it go.
Step 4 ? Be mindful of your language. Words influence us intensely. Has someone ever screamed at you? Mixing up loads of emotion, did it? Therefore don?t panic at the forex trading market. Remain calm.
Describe how the forex trading market is behaving. Speak with a loud voice.
“The current trade began at hh:mm, the system gave a buy signal at price level, the target is with a stop at..
Stop loss was moved to break even at as per the plan... The market is currently in forex trading range between x and y...”
This will help you to be impartial.
Step 5 - keep on reminding yourself about successful forex trading. Perceive the present trade as only another trade. On another day. You have to take on the system - professionally and without emotion. With exercise, in fact you won’t bother whether the present trade turns a profit or loss.
After:
Study forex trading. How you do it? Were you forex trading realistically or emotionally? How much? This is not clear. Its concerning balance. Reflect of it as 2 bar charts. The higher the realistic level, and the lower the emotional level, the greater success comes your way. Money will start to flow once you master it.

What makes the excellent traders successful?

May be they are “lucky”? Have they found some “secret” indicator?

No.

In fact they have found the truth about forex trading. Forex trading achievement is as simple as 1-2-3.

Step 1 - To comprehend what forex trading is all about

Step 2 - Learn what a champion day trader does

Step 3 - 3 The do it. Consistently

 

1. The Spirit of Successful Forex Trading

Forex trading is all about percentages. You enter a trade because you feel that your chances of success are greater than failure.

The task of discovering suitable trades goes to your forex trading system. There are several books and lessons that explains forex trading systems. The real forex trading system you use is not part of this article, you need to understand this.

If you are looking for the ideal forex trading system you know, the one that gives profits on requirement you will be looking till the ultimate time. To be a successful forex trading you should know the game of probabilities. You don?t have to be disappointed as you know how many academics, doctors, and lawyers especially lose their wealth in the forex trading market each year.

The positive preference arrives from your forex trading system. Our simple advice is to keep it simple. Find a system in which you can comfortably work with. Recognize why and when you go in and when you leave. Then pursue it.

Certainly, some forex trading systems present a higher profitability than others. But don?t be obsessed. Just don?t be too absorbed. The actual determining factor is your capability to pursue forex trading.

 

2. What Makes A Successful Day Trader.

A flourishing day trader is the one who pursues a forex trading strategy. Your forex trading plan tells you when to enter a trade, and when to exit. Has a plan to enter and also a plan to exit. Whichever the aim or only to get stopped out. Parabolic SAR, lower Bollinger, natural support and struggle, instability stop. At all. Every trader should know the unchanging law of probability. That with a positive preference and a rational attitude to management of money (cutting losses and letting profits run) finally you will emerge as profitable.

Something it makes day forex trading very demanding is because of the speed. You normally carry out trades faster, and multiply your gains faster ? that is the reason we do it.

That is the reason behind a day trade not being stressed out, unlike the drug addicts who lives from one minute to the next.

A talented day trader know that its only another trade its all about numbers in action.

The significant points here is the regularity. Like heads/tails example, one time when you are not trading s when the forex trading market leave and never comes back again.

Day forex trading is boring. Keep it that way.

Day forex trading is a boring job. Keep it hat way

 

3. Method To Develop The Day Forex Trading Mind

Whenever you are looking at the forex trading screen, always remember that “trading is statistics in action” No one is aware of what the forex trading market going to act. It’s a law unto itself. You pursue what works “most of the time”

Once you come to know that forex trading is about probabilities, that any forex trading system is planned to provide a positive preference over the long term, then all you have to do is to carry out the forex trading strategy. Therefore what is it that stops you from thriving?

You,

or somewhat emotional you.

While forex trading you have to develop the mind of a professional trader. Try this for 30 days and you will know how it works for you.

AT the beginning of the day trade.

Step 1 - shut your eyes, and tell yourself about the facts of forex trading “Trading is all about probabilities”.

Write this in a piece of paper and label it on your computer monitor. So that it keeps on reminding you.

Step 2 - Envision following your forex trading plan. Going in a trade on signal. Leaving at the appropriate time. Forex trading the appropriate match for your account.

Step 3 - Imagine each trade as small part of a huge picture of forex trading. You possibly want to imagine it as a medium, with 100 boxes. Every trade is not important in contrast to the whole arrangement. Establish your own appearance for this. Forex trading is a visual activity. You required a visual symbol to move away from the nearness of actual time forex trading.

During The Trade:

Step 1 - First relax yourself. Note the meaning of emotion A physical disturbance. You require to lessen your emotional strength as much as you can. Avoid it slowly.

Be aware of your whole body. Remember the last time you got stressed. How did it feel like? Tense shoulders? Stomach muscles tightening? Relax those areas now. Know thyself.

Note - none of this suggests that you should be slow about entering or executing trades. Quite the opposite! In real-time forex trading you must be fast. But you are operating from your rational, thinking mind... and not the panic-induced animal mind fighting for survival!

Be conscious of your body. Remember when you were last strained. How it felt? Your shoulders were tense. Tightened stomach muscles. Now relax those areas. Know yourself.

Always remember that non of this explains that you should be slow in executing trades. But you need to be fast, while operating from your rational, mind. Not just panic induced mind struggling for survival!

 

Step 2 - Breathe! Few traders don?t breath well while they are busy trading. Breathe slowly for a count up to four, hold it for four, and breathe out for four.

 

Step 3 - Concentrate on yourself. Pursuing a forex trading strategy is a ?no brainer? You go in. You follow a stop. You leave. Self talk helps remain in the state. Note that when you are looking at the price in actual time, there is a great danger of adding up emotional energy to a simple circumstance. See how you are feeling. Watch any tension and it go.

 

Step 4 - Be mindful of your language. Words influence us intensely. Has someone ever screamed at you? Mixing up loads of emotion, did it? Therefore don?t panic at the forex trading market. Remain calm.

Describe how the forex trading market is behaving. Speak with a loud voice.

“The current trade began at hh:mm, the system gave a buy signal at price level, the target is with a stop at..

Stop loss was moved to break even at as per the plan... The market is currently in forex trading range between x and y...”

This will help you to be impartial.

 

Step 5 - keep on reminding yourself about successful forex trading. Perceive the present trade as only another trade. On another day. You have to take on the system - professionally and without emotion. With exercise, in fact you won’t bother whether the present trade turns a profit or loss.

 


Emotional & Behavioral Part

 

6.1 Trading Psychology

6.2 Trading Like A Pro

6.3 Psychology Of The Market

6.4 The Psychology Of Individual

6.5 Keep A Cool Head

6.6 Mind Over Profits

6.7 The Battle Against Human Nature

6.8 Face the Truth of Forex Trading

6.9 Overcome The Barriers Of Trading

6.10 Expectations Vs Reality In Trading

 


Forex Education

 

The Basics of Currency Forex Trading

Technical Analysis

Technical Indicators

Fundamental Analysis

Intraday Trading

Emotional & Behavioral Part

Risk & Money Management

Trading Guide