Useful tips)

We have to keep our trading under control and if we will keep our focus on the trading markets then the income will also increase for us and we will make good profits.

Being calm is not all it takes to make a profit, but it certainly helps a lot. Still, we should do well to remember it takes a lot more effort thant that.

I am doing my Efforts for the trading and i hope that with some time i will start getting good results also. This will make me a better trader someday :wink:

If youre emotionally affected by trades, perhaps forex isnt for you

I would substitute calm with bored. Man trading is so, so boring.

Anyway, I don’t like calm, that’s polony and you all now it. Celebrate success.

We have to learn how to do our trading with some Patience so that we can become a successful trader also :slight_smile:

Setting up rules, 3 or 4 consistent rules, allows you to formulate a method based on those rules and to test the trading method. Do this along with a couple of rules for money management and you will start making pips much more consistently and avoid bad trade entries.

That is just BS. Wasted years believibg that crap. If the system is sound and the entry criteria is logical then there is no harm. Many trades I’ve was in anxiety and turned out well.

Learn to cut your losses short. Many successful traders apply this as a trading rule in their trading plans in one form or another, perhaps by having a minimum risk reward ratio where the predicted reward on a trade is always greater than the risk taken. So learn to cut your losses short and letting your profits run. It is a key element of just about any good money management plan.

I would rather say not to rely on forex trading as your primary source of living, instead do some primary job and in the mean time save some money and invest it in different places and for that forex trading is a good source to earn extra returns on that savings. Also split the investment to PAMM and other investment vehicles like mutual funds, stocks, etc to reduce the risk of loss.

I agree. That is my approach as well. That way even if I make a mistake in my analysis that mistake won’t lead to irreparable damage.

Have a plan and the confidence to stick to it. Don’t be easily shaken from your reason of having that plan even after losing a trade.

When you have good [B]money management[/B] plan in place, it can alert you if your trade isn’t going to be profitable and the next thing for you to do is to cut short your losses.

That’s easier said than done, unfortunately. It’s one thing to say “be confident”, but how does one become confident?

Although I have known about cTrader for quite some time, it is only recently that I began to discover it as an alternative to MT4. It deserves greater exposure.

Hopefully it also helpful :

  1. Focus on trading, not just on making money
  2. Learn that NOT trading is part of the game (Being out of a trade is a position)
  3. Become organized and disciplined
  4. Take a longer-term view of what “success” means
  5. Develop a strict daily trading routine to develop positive trading habits

Self confidence grows with time, if the trader makes profitable deals. If the trader trades with loss of profit, he won’t have any self confidence.

Yes self confidence comes when you make success Only loss will loose your confidence. When you make small victories , are able to get your targets then confidence s built in you. Then you can work with more passion in forex trading.

My first tip is to do much practice on demo before you start real trading . Then ever trade in low risk until you had a good grip on trading. Your emotions should not disturb trading. Try to do trading when you are really ready and prepare for it,

I consider this very, very bad advice. First, only play in a demo account long enough to get the feel of the platform. You still can’t play golf just because you just spent 10 years playing online. The emotion/psychological aspect of trading can only be understood if you trade real money. You have to invest in your training/trading at the end of the day and be prepared to loss that money. Speculating is not for everyone.

I stand by one of my original comments, trading itself is very boring.