There are different types of traders

There are different types of traders

There are different types of traders

They are rather lucky and unlucky. Why some people are incredibly lucky in the market: they earn constantly, evenly increasing their capital; and others either go off the course at the very beginning, or lose their money gradually? Despite the fact that they all use, in General, the same literature, take identical training courses and use the same methods of work. Let's try to understand this injustice by observation.

There are different types of traders

The first observation is that successful traders rotate in long-term trading relationships. Short-term traders risk much more because of a lack of knowledge and often because of a lack of initial capital.
You need to start gradually, fast jumps forward can cause a sharp drop in your income and even get into debt. Traders are different to take a loan on "Forex" is simple, and even easier to make a loss-making deal with this money.

Second important point. Oddly enough, the luckiest traders are those who adhere to simple rules and methods of trading. And complex strategies and techniques ruin their unsuccessful users. The bottom line is that the complexity of the method does not play any role — it only matters whether it contributes to earnings or not. You can use the simplest and standard strategy, but adapt it to yourself, add your own observations and get a lot of money.

Third, a common cause of failure is excessive trust in the computer. Of course, the machine is a great helper for calculations and analysis, but it is still better to understand the essence of what you are calculating. For successful traders, a computer is just a means to speed up calculations that they can make on paper themselves. What is important is not the technical equipment that the trader uses, but his personal understanding of the principles of the market, all its mechanisms.

Another difference between a successful trader and a loser is that the latter follows the market, and the former follows all the others. At the same time, he prepares a strategy in case of unusual situations in which the crowd will rush to save their money, and he will be able to earn at this time.

Fifth: losers often look only for profit, and successful traders evaluate, first of all, risk. Unsuccessful trades are just as important to them as successful ones, because they need a loss-to-profit ratio, not a net profit.

Sixth: emotions — a person cannot exist without them, but they can be disastrous in the Forex market. The less you are subject to your passions, the more chances you have to make the right calculation, analysis, start and stop in time. Failures mostly befall those who are subject to excessive fear and indecision, or, conversely, excitement.

Seventh: the market is open around the clock and seven days a week — to be distracted from it for a long time means to lose control and important information. Many traders become fanatics who spend all day at the monitor. Constant stress affects the body, as a result, it can cause a nervous breakdown, which can cause inappropriate behavior and unexplained actions. Successful traders know the value of rest and try not to mix work with personal life.

And the last: success also depends on the principle of working with the strategy. The loser, seeing that his method does not work, throws it and starts over. An experienced trader begins to analyze and Refine what he already has, until it begins to make a profit. In General, success in the market is accompanied by the fact that it follows its intended straight line, and does not rush from one option to another. By the way, imitating famous traders is also not a sign of luck. The fact that someone has made money on this strategy does not mean that it will suit you. You can't blindly follow someone here: you need to make everything fit you. This is the key to success.

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