First of all, a trader new to Forex should learn as much information about the market. This knowledge will be for you a safety cushion that can protect against improper ill-considered decisions and, as a result, serious material losses. Since there are a lot of scammers on the market, the so-called Kuhon, you must protect yourself with the necessary knowledge so as not to fall into their tricks.
However, the methodology alone will not be enough to become a successful trader. That’s why I decided to write this article and disclose to you six unusual tips that will help in trading.
Pause – re-evaluate the strategy!
Forex – a risky market, which holds a lot of unprofitable factors. For this reason, in order to regain strength, it is necessary to periodically take breaks and temporarily move away from trade. The market will not escape anywhere in a couple of days or weeks of your absence.
If you want to use the time off for the good of the business – analyze the actions and unprofitable transactions. Pay attention to the risk management, timeframes, how often you use this or that trading approach (long, short or scalping).
Meditate and earn!
Stress haunts us all my life and, to some extent, we are all used to it and learned how to cope with our methods. But in Forex concentration and a sense of peace and tranquility are especially important, because here we are talking about real serious risks.
Staying in a state of excitement, you can make a series of impulsive actions, enter into transactions that are unprofitable for you, and lose a serious amount of money or even merge the entire deposit.
If you are an emotional person in your own right, then it is all the more necessary to work on yourself. In this case, meditation is something that can help even the most irascible person and help both in trading and in everyday life.
Daily paying meditation for at least 10-15 minutes, you:
- improve your psychological state;
- get rid of negative emotions, gain inner peace;
- learn to control your emotions;
- become less irritable;
- brain activity will improve.
Tell me who your friend is and I’ll tell you who you are!
Even if you are a born trader who very soon began to earn large sums of money, you need to surround yourself with people who are directly connected with Forex. One head is good, but the more, the better. Collect information, opinions of successful traders, save other people’s mistakes and filter all this knowledge, thoughtfully analyzing and choosing something that can help you.
Learn from other people’s mistakes and the experience of people who are on the market much longer than you.
What tools do you use most often?
Even if you have little experience in trading, you will still be able to analyze and understand which instruments in your trade are most often used and with which of them for you is the most comfortable psychologically.
Does your broker match your needs?
It is most important for a trader to find a broker for himself, who can offer the conditions corresponding to his trading system. At Forex, as we said above, most of the brokerage companies are Kitchens that do not take your deals out to the real market, and even paint the charts so that you merge.
If you contact me, Maxim Gordeev, I will help to sort out all the nuances, help in selecting a reliable licensed broker that will suit your requirements and trade with which will be the most comfortable, and, most importantly, safe.