Forex Broker Comparison

How to try to succeed in trading

Keep a diary

It is often useful and helpful to keep a journal of the trades you have made. Especially at the beginning it can happen making losing trades. Write down all the details and admit any mistakes you made. That's the only way you can for learn about the future and be sure not to repeat the mistakes you have made. Possibly you can create forms yourself, which you then fill out conscientiously on a daily, weekly or monthly basis. Take the time to do this! This is how you learn and gain experience to develop a good strategy for the medium and long term.

Forex Erfolg

Honesty to yourself

Be honest about mistakes and don't make excuses like, "the market was bad" or "it was the software." you alone are responsible and learning from mistakes is part of life. If you've made a profit, reward yourself yourself and are you proud of yourself. Don't think of it as luck or coincidence!

Accept negative price developments with calm

Should the charts go in an unexpected direction, keep calm and execute the stop loss you set beforehand. Do not constantly and nervously follow the course of the chart. You have to get through such phases without losing your nerve in the rush and enter into losing trades. Take a short break and leave the room to get some fresh air.

Trade right

The Forex market is not about being right or wrong. That would be very subjective. The magic formula is to trade correctly, according to the respective market conditions. And look at it positively, you learn from mistakes and gain more and more experience to ultimately become a good trader.

Waiting a bit after an executed trade

Once you've made a trade, don't get too fixated on the chart of what's going to happen over the next few minutes. Small fluctuations are quite normal and will only make you unnecessarily nervous shortly after a trade. Before a trade you should set a stop loss or a mark, after which profit you close the trade again. As a result, you cannot be disturbed by small fluctuations and in an emergency they will take effect Limits that you have previously set.

Trading takes time

Don't trade casually, take the time to think and analyze a trade well before executing it. Trading activity does not consist of constantly following the chart on the monitor. Use the time to inform yourself and get a feel for it for the stock market, or if you're short on time, you can use an autotrader to do the trades for you automatically.

>> Forex broker comparison