How to choose tactics and strategy for trading? Basic trading strategies.

11.12.2020

Let's first discuss who are the participants in the forex market. As a rule, those who are chasing the opportunity to quickly and earn a lot come to the forex market, having seen enough of all kinds of promotions, people begin to believe that this is easy to do. Therefore, here you can meet people of many professions, from students to medical workers, but, as a rule, only a few of them stay on the exchange, and all the rest, having lowered their first deposit for a very a short time, consider Forex a scam and try to forget about it as nightmare. For everyone, in the first place, one main rule should act, that there is no easy money.

Becoming a successful trader is not an easy task, which will require a lot of effort, time, knowledge, skills, and experience from you. A trader is the same profession as a doctor, teacher, policeman and many others, which requires you to give yourself entirely, only in this case you can count on success. So, one who wants to link his life path with the Forex exchange must have certain qualities. The most important and valuable personal quality for a trader is calmness, strong nerves and the ability to control yourself completely, as soon as you let your emotions take over, then everything - write - is gone. As a rule, such people drain their entire deposit in one or two opening transactions.

What is the first thing you need to do on the way to becoming a successful trader?

Make a firm decision that sooner or later you will consistently earn on the Forex exchange. No doubts or worries. If there are people who are successful traders, so can you.

Compose your own individual plan learning. It can be: attending various seminars, distance learning, reading literature on forex, attending online seminars. After drawing up a training plan and after you have sufficiently familiarized yourself with the market, you need to draw up your trading strategy for yourself. Do not buy them, do not be fooled by advertising again, just think about if your trading strategy would bring you a solid income, would you really begin to offer it to other people?

Open a demo account. Do not immediately drain money on a real one. Practice on this for now, work out your trading strategy using all kinds of indicators, but trusting them one hundred percent is probably a utopia. If your trading system, in your opinion, works well enough on a demo account, try testing it on the history of the exchange, let's say for two, three recent years, if it justified itself and brought you a certain income, only in this case, you can try it on a real account. But I want to say right away that a demo account and a real account are completely different things. When playing for real money, your nerves are turned on, which were not on the demo, since there, you lost or won not your hard-earned money, keep this in mind and tune in to self-control.

Let's think about why there are 10% successful traders in the forex market, as statistics show, and the remaining 90% traders who are unsuccessful, and what is the difference between them? What do you need in order not to lose your deposit and stay afloat?

The most a big problem for most traders is that they choose the wrong trading time, or rather the time frame on which they trade, anyway, in the end, the trader will switch to long-term charts, because they will give more opportunities to earn than short-term ones.
According to statistics, the majority of unsuccessful traders are in the group of those who trade on short-term time charts. Why is that? Because such traders cannot be called intellectuals.

The reason is simple. They just don't plan their trading, they don't develop trading plans. That is, they act in a straight line. A suitable opportunity turned up - opened a position. And there as God will send. It is quite dangerous to trade on such time periods. Minute errors are not forgiven here. Yes, and somehow manipulate here is very dangerous. It is clear that most often the reason that traders play on short-term time frames is that they simply do not have enough money. Most successful traders trade either medium-term or long-term charts.

From this we conclude: if we evaluate all the pros and cons, then trading in the medium and long term is much more profitable than short-term trading. This is also true for capitalization. The more there will be initial capital, the more likely you will be able to survive, and the greater the opportunity to earn.

Those traders who constantly fail in the foreign exchange market, as a rule, use quite complex systems in their trading. They believe various admonitioners that it is easy to get rich. They are “led” to the recommendations of gurus and “black boxes”. All successful traders always use simple circuits. Either they simply recycle existing ones for themselves, or develop them from scratch. In fact, it is not at all important whether the system used by the trader is complex or not. The result is important. That is, if you use complex system, which will show excellent results, then why use it in trading?

From this we can conclude that the most valuable thing in our trading is our imagination, our thoughts and our analysis. And from this we can conclude why those traders who have only two qualities: patience and perseverance, in most cases achieve better results than those traders who are well-versed in terms of information.

Those traders who are constantly unlucky often use in their trading various systems and indicators. But they do not delve deeply into the mathematical foundations of these systems. They are way too easy on this. Those traders who are lucky in the market understand very well why it is important to use computers in their work. In principle, this advantage is quite obvious.

With the help of a computer, you can quickly process a large number of data. But often this type of traders is not too lazy to use such outdated tools as a pencil, an ordinary notebook, a pen. For some reason, they try to study the mathematical principles of averages and oscillators. In general, this type of traders is well versed in all market features. If you want to succeed in any field, then you definitely need to try to delve into all the features of the system in which you are spinning. And when it comes to the market, there can be no trifles. Everything is important here. Of course, you can hammer nuts with a hammer, but is this really a normal approach?

Traders who are constantly unlucky spend a lot of time analyzing, trying to guess where the market will be tomorrow. The same traders who are lucky in trading act differently. They do not think how they will act tomorrow, they analyze the situation that has arisen in the market today. That is, just an analysis of what we have today, and based on this, further planning of further actions.

The main thing that a trader needs to rely on in order to survive in the market is to be able to predict how the crowd will behave in a given situation. And if he can respond to the irrational buying and selling of the crowd with the right course of action, then the likelihood that he will be in the black will be much higher. From this follows another conclusion. We can say that the elementary conclusion. If you want to be a successful trader, then be sure that it is much easier to become one than to become a failed trader. By the way, you can even conduct a small experiment and try to ask a trader who is lucky where the market will move tomorrow. I am 100% sure that he will not tell you anything, he will just shrug his shoulders. What difference does it make where the market goes? The main thing is to adjust to it correctly! Such an answer may seem stupid, meaningless, but it reveals one simple truth: the most difficult lies on the surface!

Traders who are always losing constantly focus only on successful trades, and losers do not take into account. This is the wrong approach. Because you always need to analyze your mistakes in order to avoid annoying mistakes in the future. Especially the typical mistakes that are often encountered. As a result, we get what is right - this is when we first of all look at risk, and not at profit. A trader who is constantly lucky always pays attention to possible earnings. But he never builds ghostly plans, does not pay attention to highs or lows.

Unlucky traders tend to be very emotional people. And they rarely can control themselves. I'm not saying that all successful traders are all in control of themselves. But their actions are somewhat different from those of the losers in stressful situations. Successful traders do not allow their emotions to prevail over their reason. They are always aware of their emotions, and only after that they begin to analyze the market. In the event that nothing changes in the market, then emotions are not taken into account. Otherwise, all emotions are considered correct, and positions are closed. Therefore, you should never act on emotions alone. And if a trader closes or opens positions, guided only by emotions, then his approach cannot be called correct.

If we proceed from the opposite, then it turns out that the correct approach is when the trader does not take into account emotions. It will seem strange, but this approach is also wrong. But in general, if you go on about stress all the time, then in the end you can earn some mental illness. This is because constant stress makes it impossible to trade in a calm environment. Yes, in addition to this, the accumulated knowledge will also be gradually lost. In general, as they say, all diseases are from nerves.

Those traders who are constantly unlucky, for some reason, always try to be right in all situations. And they also love the state of euphoria, they love adrenaline. Such traders spend a lot of time at monitor screens. They spend almost 24 hours a day behind the monitor. Analyze, analyze, analyze.

Here, by the way, they remember how one of my acquaintances joked. He said that a novice trader would never enter a room unless there was a machine that generated quotes. Those traders who can be called accomplished and successful recognize that there are emotions, and that all people are subject to them. But their main difference from another category of traders, the one that constantly loses, is that they do not let emotions take over their minds. Such people do not sit all the time in front of monitor screens. And why should they?

The main thing is to organize the work correctly, the rest will follow. By the way, an interesting feature of these people is that they absolutely do not worry about being right. For them, it is more important to evaluate what can bring money and what does not.

Many traders who can be classified as losers, and who, when they fail again, immediately run to buy some new book on forex, or a trading system. Then they give up all the old classes, and begin to work according to a new scheme, which is subtracted from such a book. This is generally the wrong approach.

Why rush from one to another? It is better to understand why this happened after making mistakes and begin to analyze the problem in more depth, instead of looking for a new trading scheme. Such people, as a rule, do not make hasty decisions. They are quite reasonable, balanced. If negative things happen in life, then, first of all, they look for the cause of its occurrence, and do not sum up the results, where in the end the culprit of what happened will be anyone, but not the trader himself. Of course, nothing can be eternal. Something new appears, something dies. Therefore, it is possible that the trader will someday see that the system he uses has outlived its usefulness. The only reason to switch to another system should be a serious analysis, and not a thoughtless change of priorities. In general, to switch to another system, a trading strategy, there should only be very good reasons.

It follows that those traders who have been making profits for many years are firmly committed to their developments. But not everything is so simple. Of course, they would hardly have been able to be in the black for many years. This is not widely spread, but the bottom line is that many traders have several working trading systems in their stash. And if one doesn't work, the other will.

Losers try to find experienced traders and completely copy the strategy they use. What's wrong here? Worst of all, they just don't have an opinion. Inexperienced traders simply copy someone else's technique, without fully understanding how it still works. After all, there are many things that seem to be understandable, simple in the hands of others, but when we take them into our own hands, nothing is clear. Here, this is just the case when it comes to thoughtlessly copying someone else's tactics. Such a copied tactic will work for the person who invented it, but will not work for you. Everything is obvious. That knowledge, experience, and achievements of experienced traders is nothing to you. Own experience, knowledge, and skills are much more important than stupid copying of other people's data.

And finally the tenth
All traders treat trading like a game. These are both successful traders and unsuccessful traders. But unlike those traders who are constantly unlucky, successful traders take this game seriously and devote a lot of time to it. And at the same time they are guided by the ethics of a professional athlete.

If all this is transferred to a plane understandable for beginners, then we can say this. Trading is a bit like playing basketball. New players, when they come in and see how easy it is for experienced players to make three-point shots, they think it's very simple. But in fact, they do not know that all this is the result of many hours of continuous training, so when they themselves begin to do the same, they will surely fail at first. So it turns out that in trading, just like in sports, internal factors also play a huge role, which, together with external ones, are a kind of symbiosis.

Any trader, when he enters the market, faces both external and internal difficulties. On the one hand, the market, on the other - your own "I". If you take any weapon, then you can use it in different ways. It can be for preventive purposes, but it can also be for the purposes of mass destruction. And any action you take in the market should be taken very seriously. By the way, if we are already talking about sports above, then it would certainly be appropriate to compare trading not only with basketball, but also with bullet shooting. Compare in the sense that in shooting it is important not only to aim, but also to make sure that our weapons are not directed at ourselves.

Let's start with the fact that anyone can become a managing trader on FOREX. To do this, it is enough to register with one of the many providers of access to trading on FOREX and make a certain deposit to your trading account (each broker has its own requirements for the size of the deposit). But it is one thing to be a manager trader nominally and quite another thing to become one in practice.

Let me explain what I mean. As soon as you register your account with the selected broker, you will nominally become a managing trader. But until at least one investor agrees to transfer their money under your management, you will remain a managing trader only formally. And in order to attract investors, you must show a stable profit on a managed account with minimal . Such is the vicious circle.

There is only one way out - register a trading account in the PAMM-account system, make a deposit to it and start trading with your own money for now. And if your results seem worthy of attention to potential investors, then perhaps they will invest their money in you. And then everything unfolds on its own. The more stable your results and the more capital attracted to management, the more interesting your account becomes for new and new investors.

Here, for example, is a fragment devoted to registering a managing trader from the website of one of the brokers:

In order to register with InstaForex** as a managing trader, just follow this link (the link has been removed).

** This is not an advertisement for the above company, the picture is for illustration purposes only. Moreover, I strongly recommend that all my readers leave Forex dealers and trade exclusively through brokers accredited on the Moscow Exchange (or on other official exchange platforms). A good alternative to the Forex market would be, for example, currency futures.

On the initial stage when you do not yet have a single attracted client, the size of the deposit plays an important role. Put yourself in the shoes of an investor. If you have two showing relatively the same stable profitability, but on the first of them the trader offers to invest his money, despite the fact that he himself risks only a hundred dollars, and the deposit (and, accordingly, the amount of risk) of the second managing trader is a hundred times larger and amounts to 10,000 dollars? The answer, in my opinion, is obvious.

I am not suggesting that you pump all the money you have into your deposit and then lose it in the form of losses. However, the very fact that you intend to manage other people's money implies that you must have at least a pro level of trading skills.

The following advice may seem redundant as it is obvious to any professional trader, but nonetheless. Don't chase super profits. Super profits are always accompanied by super risk, and even if you show grandiose results in a certain (usually not very long period of time), they will be followed by the same grandiose losses that can cut down the entire deposit in the bud. Do not consider your potential investors as fools. It must be understood that stable (albeit relatively small) profit growth with minimal drawdowns is much more important for them. And if the profitability of your trading exceeds the profitability of a bank deposit by several times, then this is quite enough.

Well, in conclusion, I want to wish success to those of you who have decided to become a managing trader. And for those who still do not feel ready to manage other people's money, I wish you success in mastering this most interesting profession (the ABC Trader website will assist you in this in every possible way). Subscribe to new articles of the site and share what you read with your friends on social networks.

It's the 21st century, and many types of investments are no longer as attractive as they used to be. Now, more than ever, there is a need for a new type of investment and making money. For many, international financial markets are unknown, on the site of which you can get serious income. Their participants are traders who trade various financial instruments in order to profit from the difference in their value. But how to become a trader from scratch?

To do this, you must, first of all, equip your own with a computer or laptop that has uninterrupted access to the Internet. Some professional traders use several monitors in order to obtain information from different stock exchanges. For comfortable and convenient trading anywhere, wherever you are, there are mobile gadgets. It is enough to establish certain

It is also necessary to ensure access to international financial markets. To start trading, you need to access trading platforms and register a brokerage account.

Choosing a brokerage company

When choosing a brokerage company, it is necessary to take into account the importance of the following factors:

The company must have the necessary package of documents allowing this species activities in accordance with the laws of our country, including a license.
Important is the time of existence of the company, its experience and reviews about it. To obtain reliable information about the broker, you need to find the official website of the company and familiarize yourself with the conditions that it provides.
The broker must provide access to trading platforms for all types of financial instruments. For example, a client wants to trade currencies, then the broker must provide access to the interbank foreign exchange market, and when trading on a gold / silver pair, to the spot market.
The terms of service dictated by the broker are also important. They must guarantee a low percentage for providing leverage, minimum spreads, a small commission for depositing and withdrawing funds. The broker must also provide a trading platform.

How to choose a trading platform?

First of all, it is necessary to test all the proposed platforms for trading. A demo account with virtual funds will help with this.

All trading platforms can be combined into three groups:

Software for computers with its subsequent installation.
Laptop software. These are browser versions that do not need to be installed on a PC.
Gadget software. It is intended primarily for tablets and smartphones. Unlike the previous ones, it is limited in its functionality.

The most famous and widespread trading platforms among Russian traders are QUICK, MetaTrader, Web2L, Mirror Trader, Markets Trader.

Knowledge and skills

To become a trader, you must have the appropriate knowledge and skills (trading strategies). In order to develop your tactics, you need to feel the market, study all types of analyzes. The stock trader primarily uses the indicator showing the main economic and political news. And then he looks at the charts, applying technical analysis with various computer indicators. Only such knowledge, the ability to predict price dynamics, make it possible to understand the specifics of this

But in order to still figure out how to become a trader from scratch, it is recommended to sign up for training courses. Professional brokers or managers will help you learn the basic terminology and show you the most successful trading strategies in practice.

Trader courses include both distance learning and its full-time form. By studying at home, it is possible to get the basics of trading without wasting too much time. But gaining knowledge and information through direct communication with a specialist will allow you to communicate with other beginners and current professionals in this field, attend master classes by analysts and the best forex brokers.

To become a trader, investments are required. At the initial stage, it is recommended to start trading on a demo account in order to understand the specifics of price dynamics, the psychology of the market and, most importantly, not to lose your funds. To understand how to become a trader from scratch and at the same time not incur losses, you must adhere to discipline in your work. Profit on Forex is not Russian roulette, where the question is human luck, it is a strictly calculated tactic that takes into account the nuances of price movement, skills, and, accordingly, discipline.

Basic rules for trading

Particular importance should be given to one's own organization and psychological stability. This manifests itself when closing positions (it does not matter, positive or negative orders). When closing profitable operations, greed may appear. Then the Forex trader, despite any signals for a trend reversal, will continue to wait for more and more profit, which will lead to serious losses. When closing negative positions, the lack of discipline, excessive anxiety for one's own money can also negatively affect the result.

A Forex trader is a businessman who is the only boss in his business and himself. Therein lies the trick. Few can boast of having self-discipline and In order not to lose the invested funds, you need to draw up a trading plan that will spell out daily profits, trading tactics, and be sure to indicate stop losses and take profits. This will help to avoid making quick decisions in difficult situations and will not allow greed or fear to make a serious loss out of profits.

Starting work in the foreign exchange market, you need to consider everything possible risks. The most important thing is a clear calculation and a cold mind, without emotions and ambitions.

The concept of a trading strategy

The trader's school implies training in certain ones. They are understood as the basic rules and conditions under which a trader performs certain actions in the foreign exchange market. Each strategy has its own nuances and subtleties that you need to know and, importantly, understand them. The choice is great, and it is sometimes very difficult for a beginner to decide. Before becoming a trader from scratch, he will spend a huge amount of time until he finds a suitable strategy for himself.

Along with the concept of "strategy" there is also the expression "trading system". All specific terms should be known to the trader. The training that takes place in full-time, involves the analysis of this concept on practical exercises. It includes a certain number of indicators, oscillators, methods of correct entry and exit from the market. Before you become a professional trader, you need to learn these two concepts - "trading strategy" and "trading system".

Basic trading strategies

They can be divided into main subspecies:

trendy;
flat;
indicator;
non-indicator;
algorithmic.

These types are considered the main ones, and, taking into account their features, certain strategies are drawn up.

Both indicator and non-indicator strategies can be trending and flat. The trend is determined in two ways. The first one is based on lines that are drawn directly on the chart. The second is on indicators that allow you to identify the direction of price movement.

Algorithmic strategies are considered universal. They cannot be tied to one instrument. They work both in trend and flat tactics.

Indicator Strategies

This includes trading tactics using indicators. There are standard types of them, such as moving averages, oscillators that show the volume of transactions and participants in the market. There are also custom indicators that are developed by professionals. All this should be well understood by the trader. Training from competent specialists will help to understand everything.

Non-indicator strategies

When trading using this tactic, you only need to determine the direction of price movement, respectively, for this you will need trend lines that are drawn directly on the chart. They have two bases - support and resistance lines.

Before becoming a professional trader, all beginners learn to correctly identify a trend and build lines that define it. The non-indicator strategy is a unique and interesting theory, various techniques. Their beginners in trading should study, develop and apply to create their own arsenal of trading tools.

There are also variations of this strategy:

Trading for breaking through and rebounding from the resistance or support line.
Trading with patterns that are subdivided into continuation and reversal patterns. The latter include head and shoulders, inverted head and shoulders, double bottom, double top. The trend continuation figures are triangle, flag, pennant.
Candlestick analysis. This may include various and their combinations.

The best trading strategy

The best traders in Russia and abroad under the optimal strategy mean the one that the beginner has fully accepted, worked out and tested in practice.

There are also types of trade:

trading in one day, when several operations are performed during this time;
short-term trading, when transactions last several days;
medium-term trading, when positions can be opened and closed during the week or month;
long-term trading, when the so-called investment in currency takes place, and transactions can last for several years.

It is the trader's school that will help you decide on the choice of your own trading tactics and teach you how to master the main instruments present in the auction.

When a person is doing well, then he himself feels inspired and confident. But not always in life everything goes smoothly and as we want. Sometimes light stripes in life are replaced by dark ones. Also in trading - you can work successfully throughout the month and significantly increase your deposit, and then lose everything you earned in a couple of minutes.

Absolutely all traders face this situation, whether you are a professional or a beginner. And it is very important to get used to this idea at the initial stage of a trader's career in order to be mentally prepared for anything. Otherwise, such events can break a person and he will forever abandon Forex.

In this article, we propose to consider in detail 11 observations about how a successful trader differs from an unsuccessful one. Thanks to them, you can not go astray and, if any difficulties arise, quickly solve problems.

1 observation

Often, short-term trading on small timeframes leads to losses; it is among traders who prefer intraday trading that there are most of all losers. The reason is simple - the trader is eager to make as many trades as possible. He believes that it is the quantity that will lead him to profit. True, in this situation, it is the quality of trade that begins to suffer greatly. There are a lot of market noises and false signals on small timeframes. And the strategy of most of these traders is simply unfinished. I would also like to note that such players do not have a large starting capital, they often replenish their trading account with the minimum amount allowed by the broker.

Bottom line: it is better to master long-term trading, the probability of success is much higher here. It is also worthwhile before trading for real money to accumulate a large amount. Because the higher the stakes, the more you can earn. But do not forget about money management!

2 observation

Successful traders always trade using simple and accessible strategies, do not clutter their chart with numerous and complex indicators.

Bottom line: many beginners begin to mistakenly believe that difficult means best. This is a very erroneous opinion. Much more important for success in trading is perseverance and patience, as well as composure. It is these qualities that will help you achieve success, and you don’t even have to be a super smart trading genius.

3 observation

A losing trader will trust his trading to advisors and indicators. They become too lazy to read literature and study technical analysis, follow the news or analyze the chart using chart shapes. Lucky players will strive first of all to understand the whole mechanism of the market, why the price changes and for what reasons. They become successful due to the fact that they thoroughly know the nature of the market and prices.

Bottom line: If you want to succeed in trading and high earnings, then do not be lazy to study a lot and study the whole mechanism of the market, and not just a separate area.

4 observation

Often, traders who fail later spend a lot of time predicting where the quotes will be tomorrow or the next day. The lucky ones carefully watch the price and think more about their reaction to this or that dynamics, and after an instant analysis they adjust to the market and can quickly change their trading tactics.

Bottom line: You need to learn to adapt to the crowd, to the market. Then he will reward you with high earnings. You should never go against the market. If you ask a lucky trader which way the market will go tomorrow, he will most likely shrug his shoulders and answer that he will follow the market wherever he goes. At first glance, such an answer will seem irresponsible, but it only means that the trader is closely monitoring the price and the market.

5 observation

Such traders who only pay attention to winning trades will never succeed. Successful trades always analyze every loss, evaluate all risks, and think about winning only as a last resort.

Bottom line: it is extremely important to accustom yourself to assess the risks, as well as to determine for yourself how much money you can earn and how much to lose. Do not focus on potential lows and highs.

6 observation

Those who cannot control their emotions lose. Successful traders never freak out when they lose and never jump in the euphoria of winning. For them, it's just a job - long and tedious, but still a job. Cold calculation is important here, only then will it be possible to make a correct analysis of the market and conclude a successful deal. Otherwise, emotions take over and the right decision almost impossible to accept.

Bottom line: If a trader trades on emotions, then his strategy is not at all rational. It is important to find that golden mean. Since many professionals also say that you cannot completely turn off emotions - you can simply earn yourself psychological illness, and all because you keep them in yourself, whether it be joy or sadness. Also, if you trade without emotions, then over time, that very intuition and trading on the subconscious, which is so important in trading, is lost. Sixth sense so to speak.

7 observation

Loser traders often suffer from adrenaline addiction. They love risks, that state of euphoria when you make another deal and wait for its result. Usually such people sit at the computer almost 24 hours a day, constantly watching the charts. Successful traders do not need to be right all the time, they do not follow the quotes around the clock. For them, the only thing that matters is what can bring income. The rest is just little things in this work.

Bottom line: Never interfere with trading with your personal life. It must not be allowed that the work completely supplants the second. If you overload yourself with work, then you risk simply burning out emotionally.

8 observation

Loser traders are always rushing from one strategy to another when they hear about it or read it on a forum. Professionals, on the other hand, always follow the same strategy, only periodically upgrading and refining it in cases of loss in order to prevent this from happening in the future. A successful trader will switch to a completely new strategy only if he realizes that the previous one has not fully justified itself.

Bottom line: To succeed, always stick to the same tactics, because you can make money with almost any trading strategy, you just need to refine it and adjust it to your character and trading style.

9 observation

Losers in trading always try to copy the trading style of the world's most successful traders. The successful ones look at similar strategies, but will only start using them if the strategy suits their own approach and trading style.

Bottom line: And we have once again proved that it is the personality and character of the trader that is important for successful trading, and not knowledge of technical analysis.

10 observation

Loser traders often miss many of the factors that determine the likelihood of making a profit. Successful traders understand that profits are linked to "cash flow". That is, more money comes in than leaves it.

Bottom line: it is important to take into account absolutely everything that affects profit.

11 observation

Unsuccessful traders take everything to heart and often do not understand any jokes. Take a closer look at the rich and successful world traders - they are often very funny and interesting people with a developed imagination. They love their job very much and get real pleasure from trading. Such people usually joke about their first steps and failures. They take their work seriously, but are always ready to laugh at themselves.

Bottom line: Even psychiatrists say that the ability to laugh at yourself is very important in modern world. And if a person is always extremely serious, then there is a high probability that he is mentally ill.

Let's sum up the conclusions

Trading can be compared to a game or sport. For example, sports shooting. Both unsuccessful and successful traders want to hit the target at the same time, only they do it in different ways. To hit the target, you need not only to be able to aim, but also to direct the barrel so that the arrow does not bounce and hit us. You need to choose the right technique to hit the target. After all, the difference between the approaches of professionals and non-professionals is obvious.

How to become a professional Forex trader? We all know that in order to succeed in any field, you first need to undergo training, and then have a lot of practice.

Trading is no exception. Thanks to the existing examples of incredible achievements of successful traders, it is clear that it is quite possible to make money on Forex. Only reach yourself high level only diligent and persistent traders can.

What does it take to be successful in trading?

Education

Education is the foundation of all foundations. Today, the Internet space is literally teeming with literature about Forex, a large number of specialized sites have been created, forums also actively and happily discuss Forex and share their experience with successful traders.

Almost all brokers offer their clients to get training or get acquainted with online training lessons, which are usually posted in the “Beginners” section. Many practicing traders share their experience, shoot educational videos or create their own trading schools. Such communication can be both paid and free.

In general, there are a lot of sources for obtaining information, you just need to choose the best option for yourself. You should not spare time for learning - this is self-development, self-education, which will certainly pay off several times over.

Practice and experience

The first practical experience should be obtained using a demo account (an account that functionally corresponds to the real one, but with virtual money). Using a practice account, you need to study the trading terminal, practice opening accounts from a technical point of view. With the accumulation of some knowledge, here you need to test your trading strategy and other tools that will ensure a normal trading process.

Psychology of trading

On the way to success, you need to learn how to control your emotions and learn the psychology of trading.

Here are just a few of them:

The size of one transaction should be no more than 5% of the total deposit amount.
When increasing an open position, the volume cannot be increased by more than 10 times.
Be sure to use stop loss (loss limit) and take profit (profit fixation) orders.
The minimum ratio of risk to reward should be one to two.

Money management rules are created for the efficient use of capital. Strict adherence to these rules will allow not only to keep your deposit, but also to systematically increase it.

Having embarked on the path of trading, you need to learn for yourself that stubborn, disciplined and hardworking traders achieve success. Gradual progress without sudden breakthroughs and crazy risk in pursuit of momentary enrichment is the key to real long-term success.

Features of thinking of professional traders

What is the secret of successful traders? This question is constantly asked by many people who have decided to connect their lives with Forex trading, and no matter how long they do it - a week or several years. Many people believe that professional traders have access to special trading strategies or very important information, which has a decisive impact on the success of transactions.

In fact, the main thing for success is a way of thinking. It's no secret that successful people, in whatever field of activity they are engaged, they think in a special way.

Out-of-the-box thinking ensures success for professional traders as well. But not only that. Here are the basic principles by which successful traders operate.

You need to control yourself, not the market

A successful trader gives the market a chance to come to it on its own. He does not try to be in the market all the time, open and close transactions all the time. The main task of a professional is to observe and wait for signals. An experienced trader understands that the market will give him a couple of good trading opportunities per month, which will ensure profit from a high degree probabilities.

A professional simply expects them, analyzing price charts daily. He clearly knows what he is waiting for and what he is looking for on these charts, based on his proven trading strategy.

As soon as those most favorable conditions that a trader needs appear, he enters the market. As long as there are no such conditions, the trader is on the sidelines and observes, analyzes, and expects. A professional knows what is more important in trading the market - patience, not quick reaction.

Every successful trader knows what he is looking for even before he opens the chart.

Having learned to view trading from this point of view, the trader becomes more calm and relaxed - he knows what he needs and expects this event. Having opened the chart and not finding the necessary signals on it, he will calmly close it in order to return tomorrow. The feeling of having to trade will leave the trader with the development of a professional attitude towards the market.

Emotions are the main enemy of success

Emotions can become a serious problem. Professional traders understand this well and take it into account in their work. Feeling anxiety, fear, emotional pressure when hard-earned money is involved in the game is a normal human reaction. That's just to achieve success all of these, otherwise the deposit will be lost very quickly.

In order to cope with emotions, before opening a transaction, you need to clearly understand what risks are acceptable and at the same time do not lead to emotional balance. When opening a deal, you need to tune in that the established risks are acceptable and will not cause significant damage to the deposit.

Positive emotions in the case of profit are just as undesirable as negative ones. To avoid both, you need to determine in advance the parameters of a future transaction, including setting stop loss and take profit levels.

Successful traders act coolly, in full confidence that all their actions are correct, because they always follow according to a well-established trading plan and do not give in to any emotions.

Always follow your strategy

One of the special qualities of new or not very successful traders is that they "clearly know" where the market will go in the next moment. This is a 100% delusion, which does not allow you to achieve the long-awaited success.

Nobody knows how the market will behave in the next moment. You can only make assumptions, analyze, look for confirmation of your guesses, but there are never guarantees.

Having opened a trade and realizing that the price has turned at a disadvantage, the beginner does not want to admit his mistake or simply hopes that the market is about to turn in the direction he needs. Such an expectation often lasts until the last cent. A professional thinks differently. He understands that no one can be guaranteed to guess the movement of the market, there are only reasonable assumptions that may also not come true. A professional easily admits his mistakes and closes potentially unprofitable trades as quickly as possible - it's cheaper that way.

There are situations when the deal is closed with a loss, and the market turns in the right direction after a few points. A beginner always feels annoyed and disappointed that he lost money, but even more so that he hastened to close the transaction and did not wait for a profitable market reversal. From now on, he will control his positions even more diligently.

For a professional, such situations are extremely rare, almost impossible due to the fact that he determines all the parameters of the transaction in advance, correctly calculates the important levels at which he places pending protective orders and can exit the market. After closing the deal, an experienced trader will see the result, which is very likely to be positive due to his confidence in his actions and the absence of emotional stress. A professional will not watch an open position 24 hours a day, constantly doubting whether he did everything right, and therefore will not make such mistakes as a beginner.

A trader's trading mindset determines his trading style

The way a trader thinks about trading and while trading becomes a habit and ultimately forms a trading style.

A trader who is confident that he can avoid losses changes his attitude to risks over time, becomes reckless, gambling, neglects protective orders and forgets the money management rules that he once learned. Such an attitude towards the market, your deposit and the trading process as a whole is destructive and never leads to good results.

Traders who in their minds perceive the market as an ATM, in which there is always money and can be withdrawn at any time, very quickly find themselves out of the market.

Successful traders respect the market, realizing that no one can know everything about it. They focus more on potential risk than profit. If a trader has learned to save his deposit, then he is already on his way to success and the gradual growth of capital will not take long. These are the rules, tested and confirmed repeatedly. Those who neglect them, trying to impose their own rules of the game on the market, will never succeed.

Patience is one of the main qualities inherent in professional traders. They plan their trades long before receiving the relevant market signals, and then patiently wait for those same signals. Professionals never enter the market unless there is a good reason for doing so.

Time, personal experience, constant learning and strict adherence to mandatory rules will certainly lead to the success of any stubborn and diligent trader.

Rules for Success

There are many opinions about success in trading and how to achieve it. Often these opinions are very subjective, as they are expressed by traders - practitioners who have gone through their personal thorny or not very expensive trial and error.

If we analyze most of these opinions, we can identify several rules that are most relevant to all newcomers to trading. Here they are:

To maintain emotional stability, treat your losses like tuition fees.
Follow the correct order of all processes related to trading (market analysis, risk management, trading psychology).
Let the capital continue to grow.
Trade with the trend.
Discipline and concentration must always be at the highest possible level.
Learn to recognize and control your greed in time.
Understand that a trading system is just a tool. To achieve success, everyone chooses their tools. What works for one may not work at all for another.
Remember that risk management is the most important part of trading.
Inner awareness is very important. But it is even more important to be able to distinguish between illusions and inner instinct. Learn to do it.
Realize that what you know is not necessarily known to others.
If you don't know what to do, don't do anything at all.
It's a paradox, but you also need to get used to success.