A lot of traders are looking for the Holy Grail or the trading system that's going to retire them. What they don't know is that it doesn't exist, but what does exist are solid systems that can yield modest results and over the long haul can bring back substantial returns.
There are few principles that can help to perk up your chances of success if they are understood, practiced, and implemented in your trading on a regular basis and these rules have been learned in the trenches, mostly through testing and scrutinizing the common mistakes nearly every trader makes when starting out in the forex currency trading business.
On the flip side, many traders got where they are today using systems such as automated signals, forex robots and have applied strict sets of rules and disciplined themselves to weather the storms.
Some trading systems do very well and yield fantastic results, but the drawn down may make your stomach turn. Here's a good example. Trader A puts $5000 into his account and so does trader B. 2 weeks later, both of the traders accounts are now at $1500 each. Therefore they've had a loss of $3500 in two weeks time. Trader A gets scared, his emotions kick in and he just can't take it so he closes the account and cuts his losses. Trader B is sure of the trading system and he doesn't let his emotions pull him out of a profitable trading system, therefore he holds his positions. 1 Month later trader B's account is a $8400, meaning he's now up $3400 while trader A has a realized loss of $3500 and trader B has a realized profit of $3400.
European currencies had a number of crises because of the attempts to adjust their rates towards one another artificially. French frank and German mark used to create the basis for the Continental European currencies and formed the European currency system. Euro traders need to recognize that even if the European economy is growing, the trading basis is for the dollar to rebound because European productivity is significantly less than American levels. The pattern for the euro has been a reversion to its trend after a news shock. European markets open in frankfurt at 2:00, while London opens at 3:00. New york forex markets open at 8:00. - 29904
There are few principles that can help to perk up your chances of success if they are understood, practiced, and implemented in your trading on a regular basis and these rules have been learned in the trenches, mostly through testing and scrutinizing the common mistakes nearly every trader makes when starting out in the forex currency trading business.
On the flip side, many traders got where they are today using systems such as automated signals, forex robots and have applied strict sets of rules and disciplined themselves to weather the storms.
Some trading systems do very well and yield fantastic results, but the drawn down may make your stomach turn. Here's a good example. Trader A puts $5000 into his account and so does trader B. 2 weeks later, both of the traders accounts are now at $1500 each. Therefore they've had a loss of $3500 in two weeks time. Trader A gets scared, his emotions kick in and he just can't take it so he closes the account and cuts his losses. Trader B is sure of the trading system and he doesn't let his emotions pull him out of a profitable trading system, therefore he holds his positions. 1 Month later trader B's account is a $8400, meaning he's now up $3400 while trader A has a realized loss of $3500 and trader B has a realized profit of $3400.
European currencies had a number of crises because of the attempts to adjust their rates towards one another artificially. French frank and German mark used to create the basis for the Continental European currencies and formed the European currency system. Euro traders need to recognize that even if the European economy is growing, the trading basis is for the dollar to rebound because European productivity is significantly less than American levels. The pattern for the euro has been a reversion to its trend after a news shock. European markets open in frankfurt at 2:00, while London opens at 3:00. New york forex markets open at 8:00. - 29904
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