GLOBAL,FOREX,TRADING,Get,tradi finance, share, loan GLOBAL FOREX TRADING: Get trading philosophy /principles
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One thing he has worked so hard to develop id the ability to stay disciplined. He has trained his mind so well that he came up with the following philosophies. The following make up the core values adopted as a trader and which have formed my trading philosophy and principles. They are: 1) Treat losses the same way you treat profits. 2) Start small and grow to whatever level you desire. 3) Do not focus on the immediate small losses or growing gains; always keep the end results in mind. In other words, it is the monthly results and not one single trade that determine my profitability in the trades, but each trade contributes to the end result. 4) Let the law of compounding work for you target building from small to big. 5) Find what works for you and stay with it; always be yourself. 6) Always have a plan; and in your plan decide how much you would be willing to losses before accepting any trade. Also decide your profit ahead. Managing his trading psychology, otherwise known as emotions. He has this to say again. Take control of your emotions and handling losing trades. Without doubt I can authoritatively tell you, before you read any further that the best skill you need to work tirelessly to develop as a forex trade is emotion control. Some call it psychology. Whatever the name, you just have to learn to take absolute control of your emotions. Miss this point and you miss out on the opportunities that this huge market has to offer. I have had many call me and just lack words to express their disappointment in the market. Some have actually given up trading, believing it is not for them. But this does not have to be so if only you would humble yourself and learn these important facts about trading. It will be very sad for you to allow the market to humble you as it has done so many who are now afraid of taking another chance. Control your emotions, greed, fear, ineptitude and revenge or anger. How do you do that? I will summarize the answer in one sentence; Treat your losses the same way you treat your profit, but make sure your losses are always smaller than you profit. This is the question I always ask myself when I lose a trade and want to re-enter immediately; If this trade were a winner, would I enter a second time and risk losing my profit for the day? I hope this will also help you in handling losing trades and losses. Remember, always determine and know your risk before ever taking any trade. If you do not know or are not sure of what to risk then do not trade. The next thing I have also adopted is to laugh at all my trading results; profitable or not. Watch your psychology, learn how to trade for only 5 minutes per news events and pile up massive profits.
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