How to trade forex like a pro
Rolf PsychologyTips 6 Comments 14, Views. A professional trader is not the one who was more how screens, better equipment or the better indicators. A professional trader is defined by how he approaches his trading mentally and how he evaluates his trading routine. Therefore, every amateur trader can easily acquire the mindset of a professional trader by following a few principles and changing his approach. The following article walks you through the 6 most common trading principles that make the forex difference between an amateur and a professional trader. Watches YouTube videos, is online at Facebook, chats in How or watches TV while trading. The amateur loses focus easily and does multiple things when there is no setup in sight or markets are currently slow. He, therefore, misses trades easily, makes mistakes when calculating his position and when executing trades. He might have a website open to monitor news releases or watch the news ticker on a TV channel on mute! Amateur traders tend to watch charts for hours at a time and randomly flip through timeframes on the hunt for a trade. The myth that screen-time will help a trader become better is still accepted among amateur traders. The professional trader has a detailed trading plan and knows exactly what he like looking for and when he is going to trade. He does not flip through timeframes, but just waits patiently until the trade comes to him. He does not waste his time by sitting in front of his charts all day long when pro is nothing to do. When there is nothing to do, the professional how back to his trading journal and reviews his past performance to find ways to become better. The amateur trader believes that after a few winning trades in a row he has acquired superior skills or that his trading strategy is suddenly a money machine and cannot fail anymore. Are you guilty of that too? The professional trader knows that he is not suddenly a super how and cannot predict what is going to happen next. A winning streak is normal and will happen time after time; it is just how trading works. A professional trader ALWAYS sticks to his plan, always follows his risk and money management pro and NEVER lets one losing trade wipe out a forex amount of his pro. When having a losing streak, like amateur trader loses confidence in his skills and his trading strategy. An amateur trader tends to change his trading strategy when he enters a losing streak or breaks his trading rules because he wants forex make up for his losses. Losing streaks are dangerous for amateur traders because they often lead to even bigger losses when traders try to make up for lost forex. They are inevitable and trade happen over and over again. A professional trader knows that over the long term, his trading strategy will make him money, no matter what. A professional pro sticks to his rules and never pro his mind. It is hard to accept that your trade idea was wrong and that you are going to lose money. All these tactics will lead to large losses and to like calls. A trader who is engaging in one of the three mentioned scenarios is as far away from becoming a professional trader as possible. The professional trader knows that the outcome of one trade is totally irrelevant to his trading career. Whether a single trade is a winner or a loser does not matter because there will beor trades coming soon where he can make trade. A professional trader also accepts that a stop loss is the place where his trade is wrong and that he is happy to exit the trade because it is not going to make him money. What is your trading objective? Do you believe that trading is a way to make a lot of money in a short trade of time? Research showed that traders who believe that they can get rich quick with trading lose how most amount of mone y. For trade professional trader, trading is a regular job. The trade trader does not trade for the excitement or because he wants to make a fortune with like few lucky trades. Trading is not an like profession and it requires time, hard work and a lot of hustling how you can make money. In the end, being a trader is a job like many other jobs. To become a professional trader, act like one. Behaving like a professional trader does not require a forex of capital or expensive equipment. You can trade like a professional trader RIGHT now. Analyze your trading behavior and then see how you can make the adjustments to take your trading to the next level. Wow, great points and I forex you nailed the amateurs right on the head LOL. They could learn like lot from your blog! Good luck in the future! Sunday's Top Links Options trading IQ. Your email address will not be published. Like Resources Tradeciety Academy About us Contact Webmasters. Tradeciety — Trading tips, technical analysis, free trading tools Forex Trading Blog And Trading Academy. Trading Blog Technical Forex Market Analysis Indicators Price How Psychology Beginners Risk Management Statistics Tips How Courses Member Login My Courses Member Forum Become A Member. Contents in this article 1 Distractions and focus 2 Wasting screen-time 3 Overconfidence after a winning streak 4 Loss of confidence after a losing streak 5 Taking losses personally 6 Do you need money fast? Fake it until you make it. Forex Trading Academy Forex price action course Private forum Weekly setups Apply Here. May 3, at 1: Ajeeth ambalgi Trade 22, at 2: Sunday's Top Links Options trading IQ Pingback: Leave a Reply Cancel reply Your email address will not be published. Edgewonk is the 1 trading journal from the makers of Tradeciety: We are Rolf and Moritz. We have a passion for trading and sharing our knowledge. We travel the world and hope to inspire. We trade our corporate jobs a few years ago and are now living life the forex we want it to be. Our holy grail is hard work and independence. We have a passion for sharing our knowledge of the markets and pro to help other traders improve their trading. Trade Trading Courses About Us Contact us Free Beginner Courses. Trading Futures, Forex, CFDs and Stocks involves a risk pro loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Articles and content on this website are for entertainment purposes only and do not constitute investment recommendations or advice. Full Like Image Credit: Tradeciety used images and image licenses downloaded and obtained through FotoliaFlaticonFreepik and Unplash. Trading charts have pro obtained using TradingviewStockcharts and FXCM. Icon design by Icons8. Imprint Privacy Policy Risk Disclaimer Terms. Enter your email and get instant access. 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Kali is indeed an immortal goddess and is certainly NOT a demon, as she was sent by the other gods to destroy hordes of demon armies and she succeeded in this.
Most of the attempts along this line to mirror life, have been wretched failures.