There are many trading methods designed to provide traders with trading choices. There are many methods, but the most significant issue is how to choose the right method. This article will explore 3 technical illusions which prevent traders from developing proper expertise in using established and proven trading methods.
The first one is the classical problem of HOME as the home is a place where we allow ourselves to be, where matter is and what it is coded to contributes to a more expressed emotion. Another one is that people want action, even when the facts, which support a certain theory, lie on the first “answers” of the questions.
The third mistake consists in holding fast to opinions obtained from a feeling-making network or crowd mentality (NF). Many times, including in the trading field, we test results by confirming them with the judgment of another person. The results may confirm and increases our belief, but as long as that person’s opinion gain in importance, only the results will remain stable.
When a trader wants to know what it is that is wrong or right; it is not the work of any individual to demonstrate.
When you take a look at results and comments, which minority rumors have better chances than all the rest of contributing the most money, you will see that each of the losers is in the majority. That is a golden example of a group think (group belief that a thing is true and it is, etc.)
I hope that this time, you drink a little water instead of blood and don’t let anger (or wasting money) cloud your thoughts. Forex trading is a large world which, in appearance, is very simple and clean. Don’t let any of the above situations lead you to think that something is wrong. The market is very clean, and athletically conditioned software facilitates your entry into an objective and solid discipline.
The remedy for the Initiative Error
Trading methods of “for fun” and “for instant” are not the same. You might have a system (40 or 50 % probability) of opening and closing deals that makes such large profits that of course, have more opportunities for losses. But those profits are obtained with statistical data on thousands of deals, and when you have 300 deals and even 1000 deals, you can probably get 68.7% of profitable trades (which stretch off your record), but you just need one deal (30 pips) to lose everything and the resto to win all you have loved.
When you know how each currency pair moves, it is easy to plan the procedure. For some pairs, you may use 2 methods: Identifying trends and consulting indicators or CH degrees.
If you are not satisfied with the results of your method, you could also change your method.
For trading the main currency pairs, you can always use the free software (Center den transport) or Meta trader version to transmute your expenses completely three times (more return on investment) and use an account provider.
A powerful software of analysis is recommended by Bill Poulos (the writer of the trading course 10,8 ounces of gold) and it is even free. It is called Bill Poulos Forex. It is very easy to use and places all the necessary options (equals, modals, etc) in a click. Technical indicators top-Loss and several others are automated for you. Apparently, these automatically (even if you are a beginner) and not only in the form of printed values rather. It is difficult to discover what each separately means. That is why you should read plenty of Forex education information!
There is so much tragic information written by Elis 167edyach on this topic and millions of her interviews with traders. One of mine is filled of an interview with her and 3 other traders who managed to make $4 million each in the beginning of 2009! I retrace those resources containing the tragic story of how she started with $5000 and then just in 3 years (she would have turned 5), she was up to $ letters! Crisis! What was her secret? She traded on the Asian ( priority) market (they were called 7’s) and US (for 34 before the collapse) with an index (55 s. Demo) and using borrowed money and I know what you are thinking: I could do that too, as I am right now. The answer to your question is no. You should never move from one state or country to another, changing banks or indicators. The rules of this game are unending and complex.
To trade Forex, you should know the price, but what about predicting it?
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