Money For Lunch – 5 secrets of the successful traders in the financial industry

5 secrets of the successful traders in the financial industry

10:33 AMComments Off on 5 secrets of the successful traders in the financial industryViews: 14

Click here to get this post in PDF

We all know that trading is really hard and only 5 % of the traders are able to make money on regular basis. But do you know why the success rate is so low in the Forex market? To be honest most of the traders don’t educate themselves enough to learn about the market details. They simply start trading the market by funding their trading account. But unlike the new traders, the expert Aussie traders have few secrets that we as normal traders never see. After you read finish reading this article you will understand that trading is not so hard at all. In fact, if you can follow this simple 5 secrets of the successful trader than it won’t take much time to master the art of trading.

Way of thinking

All the new traders always think how much money they can make from each trade. But unlike the novice traders, the pro-Aussie traders always think how much money they might lose from a certain trade. There is a great difference between the way the pro and novice traders look at this financial market. You need to give more importance to your trading capital rather than profit factors. If you can safeguard your investment than it won’t take much time to learn about the market structure.

Never look at your account size

Every single professional has a different personality and different trading style. But they have one thing in common. They never look at their account size since it doesn’t matter at all. If you can’t trade with a $1000 trading account then you won’t be able to manage $10000 in the financial market. You have to learn the art of trading and managing your risk in terms of percentage. Consider yourself as a money manager and trade with precise risk. The pro traders never risk too much in any single trade since they know the outcome each trade is totally random.

The never follow the herd

We all know that majority of the traders are losing money in the Forex trading industry. So if you try to follow the herd in Forex then you are not going to make any money. You have to think outside the box to become a pro trader. When everyone is selling the market you should stay on the sideline and wait for the clear trading signal. If you get the precise trading signal than you need to trade according to your plan. Never forget that without managing your risk you can never succeed in the Forex market. So always trade with precise trade management and save your trading fund.

They always trade the higher time frame

All the successful Aussie trader are long time frame traders. They never trade the lower time frame trading signals since it is one of the easiest ways to lose your trading capital. In higher time frame trading you can use lots of trading parameters but the best way is to use the price action confirmation signal. Price action trading is often considered to be the easiest and reliable way to execute high-quality trades. So make sure you learn it precisely to make a consistent profit.

Use the simple percentage rule

If you truly believe that trading is the right professional for you then you need to take a risk in terms of percentage. At times you will see that you are having a series of losing trades. But this is absolutely normal in Forex trading. If you can focus on the market data and trade with patience than recovering the loss amount will not be a hard task for you. All the new traders are more concern about their profit factor but when you start risking in terms of percentage it will be extremely easy for you to deal with the dynamic nature of this market.

 

Tags:

Comments are closed