Great comment John, I agree Did the EA still existing? Sridhar Kumsy March 9, at After a while, I almost mastered the technical analysis and candlesticks. Following these principles won't guarantee success as a trader, nothing can, but you'll have a lot more chance to be successful if you do.
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You should build your own trading system, rather than plucking one from the internet. I know it's very tempting to simply copy the trading system of some supposedly successful trader, and it might very well be a very profitable strategy but the fact that it works for them, doesn't mean it will work for you.
The best thing to do is to take note of those strategies and let other traders tell you what works for them, to see which parts really resonate with you. Borrow bits and pieces from other people's trading strategies, but only to mold them into a strategy that is customized to your trading personality, financial circumstances and time schedule. If you are a hobby trader and just want to stay in the market without losing too much, you don't have to spend years building your system, but if you are committed, if you are serious, if you want to achieve financial freedom, than it might take you years before you have build and fine-tuned a successful trading system of your own.
Do you think that's a little long? How about if you were starting a business and someone told you it might take you three to four years before it'd become a successful business.
Would you find that very odd? Because if you do, you better not start a business. Trading on the financial markets for a living, to become financially independent, is a business too. It will very likely take you a couple of years before you master trading profitably consistently. So, find a trading strategy that fits your trading personality.
Formulate a set-up, an exit strategy and determine the right money management, and you're on your way. Interesting thing about the word 'impassionate' is that it has two opposite meanings. On the one hand it means being passionate about something, and on the other hand it means to be dispassionate. As a trader you need both those meanings to become successful. Be passionate about trading Look, if you're only in it for the money and don't care at all for charts, price development, financial news, or how different tradable instruments correlate with each other, in other words if you don't like the game , you probably won't last very long as a trader.
In the beginning you might struggle, and there will definitely be difficult periods, so if you don't have any passion for the activity itself, for trading as such, it will be very hard to get through those difficult periods. Be dispassionate when trading You've carefully build a trading system that fits your trading personality, that has a solid set-up, exit strategy and money management.
One of the main reasons you have a trading system is to keep you from making emotional decisions. So, now that you're in the market it's time to let your system do its work.
Therefore, when the position is open you are dispassionate. Your system is running the trade and you don't care either way whether or not the trade goes one way or the other. That doesn't mean you can never change your system, it means you have to trust your system as long as you're in a trade. You have to trust your trading system.
You have to trust your set-up, you have to trust your money management and you have to trust your exit strategy. If you don't, you're likely to change your system before it has had a chance to prove itself. Let's look at an example. Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets.
Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results. So, without further ado, here are my 9 not-so-secret secrets to successful Forex trading: Here are some tips on how to avoid letting greed get the best of you: Checkout Nial's Professional Trading Course here.
I am dealing with some of these issues as well.. Wow great secrets for sure. Thanks a lot Reply. We are very lucky to be here in this forum! Eddie July 27, at 5: Surya July 16, at Gurpal March 17, at 7: Hi Nial, Hope you are well.
Thank you for another superb article. Thank you for all your help Thanks and Regards Gurpal Reply. Zahid Khan March 15, at 4: A very nice article as usual. John Amotsuka March 15, at Excellent write up am an advocate of money management and you just justified my conviction Reply.
Jiri M March 14, at Trader9 March 13, at 6: Danny N March 13, at 5: A great article,great help,Thanks Reply. HjMahmood Ali March 13, at Dear Nial, A really great articles and can make a useful guide to all members. Eric March 12, at 6: Snarly jack and me will be in town last week of march. Throw a shrimp on the barby. Phil March 12, at 5: Sola March 12, at 4: Desiree March 12, at 4: Thank you Nial, a great article to start the week.
Irfan gani March 12, at 5: Jimmy March 11, at 7: Dude, is that your work station?! Great article by the way. Jamie March 11, at 9: Speaking the truth in love. Todor March 11, at 4: Paul March 11, at 3: Dale March 11, at Raj March 10, at Ramli March 10, at 5: Thanks for sharing a secrets.
Tom Barasa March 10, at 5: Frank Page March 10, at 5: Frank Page March 10, at Paul Stevenson March 10, at 9: Dear All, I have 25yrs of trading experience, and have seen everything. If you are reading this, you are the lucky few in the right place to succeed. Really appreciate all you have done Nial.
Gary March 10, at 8: Matthew Agbo March 10, at 8: Hi, Nial, Thanks a lots for your humorous facts on trade. Lionell Dixon March 10, at 7: Pavel March 10, at 4: Thanks again mate,its pretty enjoyable: Jose March 10, at 3: I Love your article.
Nial you are the person everybody dreames to have as Mentor. Norris March 10, at 3: Hi Nial, what agreat article you wrote,very empowering! Ryszard March 10, at 2: Some are not easy to apply but all will improve my trading. Elsayed Elshamey March 10, at 2: Terry March 10, at 2: Tuan Tran March 10, at 1: PawPawRu March 10, at Peter Miller March 10, at Josef March 9, at Three simple methods and each of them profitable. I tried them with real money immediately and was impressed by their beauty.
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The 6 simple secrets of successful forex trading
This is a “trade of the day” forex analysis video where I take any of the 3 strategies outlined in my book “Forex Powerhouse Secrets”, and show you the . FOREX TRADING SECRETS TRADING STRATEGIES FOR THE FOREX MARKET JAMES DICKS 14 Secrets to FOREX Diversification FOREX Options Spot FOREX Options FOREX Futures FOREX Exchange-Traded Funds (ETFs) tals involved in the FOREX and of the trading process so that any new. Nial Fuller is a professional trader, author & coach who is considered ‘The Authority’ on Price Action Trading. In , Nial won the Million Dollar Trader haxspace.cf has a monthly readership of , traders and has taught over 20, students.