Seven thing before start the trading ?
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Thread: Seven thing before start the trading ?

  1. #1
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    Lightbulb Seven thing before start the trading ?

    I suggest you keep the 7 thing before the start the trading .

    1 First make the plan according to the investment

    2 Money Management

    3 Control the emotion

    4 Analysis the market

    5 Trading with the plan and make the discipline

    6 Avoid over trading

    7 Show the patience

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    These points you've just stated are very important points and as a trader if applied would take your career to the optimum level,forex might seem easy I guess its due to its easy access, so traders get carried away by the temptation of not being properly prepared before trading in live accountbut ewith these steps you've stated it would put a trader in more prepared state before trading.

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    My friend, I think a trader must have to understand that knowledge is also a important point in Forex trading. It is true Risk management and control of emotions are next important factor in Trading. But to get success in Trading we need to develop our skill.

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  4. #4
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    These points you've just stated are very important points and as a trader if applied would take your career to the optimum level,forex might seem easy I guess its due to its easy access, so traders get carried away by the temptation of not being properly prepared before trading in live accountbut ewith these steps you've stated it would put a trader in more prepared state before trading.

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  5. #5
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    This seven thing is necessary we have in forex trading, especially in emotional control and discipline. Both of these need to practice since we are beginners, because it concerns the psychology of trading and we will always use emotional control and discipline as long as we live in this business.

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    Your first three point is key to the success in the market. without a complete plan we can not be a good trader. whatever we analysis we should learn to keep our profit. for thi money management is must. if you don't have this you may do profit in 5 trade but 1 trade may cost you all your profit. and you maintain this three point you can easily control emotion and be a good trader.

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  7. #7
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    you mentioned the most important steps that the trader should follow to succeed in forex market,the trader needs a plan to avoid random trading to be able to trade properly,and needs to trade with money management plan to protect his account and trade safely,he needs also to control his emotions to be able to take the right decision for trading,he should avoid over trading to avoid making of more mistakes

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  8. #8
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    Forex trading is a very profitable and simple business where any one can earn a huge amount of profit.But few seven things are very important before start the trading in this business.Proper knowledge and experience,good planning,strategy,analysis,money management,capital to invest,confidence and patience to trade successfully in this business.

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  9. #9
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    All these 7 points are very important for a good trader. Specially I can give emphasis in avoiding over-trading and greedy trading. We need to continue trade according to a good trading plan with proper TP and SL so that any unwanted loss can be avoided.

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  10. #10
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    the first point, it is very important to note by the traders, they need to know the capability at this business, and set it with relevant, sometimes many traders push themselves to get big profit with take higher risk and ignore the rules, they did not see the balance and how much margin is needed,

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