The lessons we can learn from the biggest traders
1. The failure is unpredictable. Even large traders repeating mistakes at the beginning of their career. Failure in the beginning, often is normal. So all beginners should started with small amounts of money to "pay" less about his experience on the markets.
2. Perseverance is essential to success. It is easy to encounter failure, and to cancel, biting something else. But only those who tirelessly continue finally discover their potential.
3. Success in marketing is not in finding some secret formula or system, reveal the winners on the basis of price analysis or fundamental analysis. There is no one correct methodology. There is no one true path single marketing secret single correct way to trade the markets. Those who seek this true answer do not ask the right question and therefore never get the right answer. There are a million ways to make money in the market and you can use all kinds of methods and time frames. The success of the market is a matter of finding a methodology that is right for you - it is not a matter of finding the true methodology.
4. People who are truly successful in the trade are incredibly labor intensive. We think that trading is easy but brain surgery is difficult. It only seems so. Success in both, there must be a lot of preparation and hard work. But we think it is easy, since the criteria for inclusion in the trade are not as high for a short time we can just luck, but this is not true for brain surgery. Therefore, we think that trading is easy, while in fact it is at least as difficult as brain surgery.
5. When you realize a lot of losses, the advice is to do two things: First, to reduce the amount risked on each trade dramatically. Second, stop trading. If you are in a losing streak solution is not to try to kill, but rather the opposite: to stop. When everything goes well and you have a period of abnormally high profits, be extremely cautious and cut losses short leash.
6. Do not focus on making money but on protecting what you have. Money management and risk control are very important for the success of trade methodology of trading.
- You need to determine where exit even before you entered. In other words, what loss you suffered to attain a profit. Stop should not be too close to avoid a too frequent losses reach.
-The Level of a portfolio, it is reasonable to determine the maximum loss of the initial deposit for each year that you could sustain;
-Badete Ready to get out fast when you're wrong;
- When losses are small, will trade again. When losses are large, would you be afraid to go in and you would have missed great opportunities;
- Never risk more than 1% of the total capital of one position.
7. You must be disciplined and follow their own rules for trading and risk control. Otherwise the market will punish you when you least expect it.
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