Five important things no Trader should forget during trading
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Thread: Five important things no Trader should forget during trading

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    Five important things no Trader should forget during trading

    There are many important things that we have to add in our trading discipline. Most of trader's not follow these things at the time of their trading. So want to share five important things that a trader should not forget during trading are follows:

    Important-Information.png

    1. Stay Calm all the time: Staying calm does not mean sitting still, your heart beat should be normal, and thoughts should be not be excitement provoking.Emotions such as anger and excitement interfere with our brain's ability to think rationally. Hence, such emotions must be avoided on a trading desk.
    There are two powerful ways to achieve true calmness in your trading terminal.

    First: Decide the loss you are happily willing to take. Then keep your stop losses accordingly.

    Second: Do meditation.

    2. Discipline: Discipline is also an very important part of our trading. We should never try to do trade in forex if we don't have any good trading discipline, only a good trading discipline can give us a better result from this market. So use proper discipline in forex.

    3.Don't search for trade's just keep your eyes open: I just wait until there is money lying in the corner, and all I have to do is to go over there and pick it up.Waiting for the right is not that difficult if you have a calm mind which is not looking for excitement.

    Personally I look for good market trend pattern's in the market.

    4. Stay Away from the word "HOPE": Thinking that the market cares about you is the biggest mistake one can make. Never wish and beg from the market, make your plan considering the worst case scenarios. Good trading plan will help you to become a good successful trader

    5. Use proper money management and Risk management: Follow proper money management and risk management in your trading. I am sure that if you will remember the above five things, you cannot blow your account, Its just not possible at all.
    Source: dukascopy.com/fxcomm/fx-article-contest/?Five-Things-No-Trader-Should=&action=read&id=2105&language=it

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    Last edited by Value trader; 01-27-2015 at 02:31 PM.

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    If a trader could do all these five above, I believe that it will be more ethical for such trader. Forex traders that are looking for signals by all means might be doing things in an unaware manner, it is very good to understand the ways of the market by the way the trader is playing along, and activeness of the trader to discipline rules better.

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    need a good mindset to stay calm at this business, because not easy for someone to get this point immediately, need some time to understand it, and the important thing here that traders need to understand for what they will do and have to do, and it will need an enough knowledge and emotion controlling,
    mediation is one of many ways to get this part, it will make fresh the mind

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    A good market understanding, and a good mindset is very important for our success. We need a very good discipline in our trading. These five things are very important for a trader and I think every forum member should look at this thread. We have to remain calm, have to use proper discipline, have to use proper money management, etc. in our trading

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    Registered user Hukam's Avatar
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    These all very important points. Its very important that we are following proper discipline in trading. And there is one point that you mentioned in your thread that is "HOPE". Mostly trader's try to praying god for their profit. I think there is not place for any hope in forex. Its your own trading analysis and experience which will give you profit here

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    These are the common dialogue which we can get from many other sources. The important things is to implement the lesson in our trading. Among many common mistakes I can trace No. 1 problems is our lack of knowledge on decision making. We need to take the appropriate decision in the appropriate time to get better benefit from this trading. Our theoretical lesson cannot become matured unless it is practiced in our trading.

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    Rookie rinaji's Avatar
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    Quote Originally Posted by Khimi234 View Post
    Stay Calm all the time: Staying calm does not mean sitting still, your heart beat should be normal, and thoughts should be not be excitement provoking.Emotions such as anger and excitement interfere with our brain's ability to think rationally. Hence, such emotions must be avoided on a trading desk.
    There are two powerful ways to achieve true calmness in your trading terminal.
    This is a problem that often I get when I do scalping, I do not know why I have a bad emotion during scalping activities, and I could not control my emotions in a short duration trading or scalping. But I do not have problems like this when I traded for the long term, I do not know if all traders have the same situation as me or not.

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    If you lose, be patient. If you win, stay humble

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    Right sir even many long term trader's also face the problem of emotion during trading. I think its very important to do trade with a positive mindset and we need a strong trading system too in simple words I think its totally depend upon our trading experience which help us to reduce the problem of emotion during trading.

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    Registered user techboy's Avatar
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    Quote Originally Posted by rinaji View Post
    This is a problem that often I get when I do scalping, I do not know why I have a bad emotion during scalping activities, and I could not control my emotions in a short duration trading or scalping. But I do not have problems like this when I traded for the long term, I do not know if all traders have the same situation as me or not.
    Sir, I think traders has different personality and we must choose the right strategy that fits best to our character, scalping is the fastest way to make profits but we are dealing with a fast market that can affect the way we make decisions making us vulnerable to commit many mistakes during trading.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

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    [lang=id]
    Quote Originally Posted by Khimi234 View Post
    4. Stay Away from the word "HOPE":
    it is danger if trader depend to this only , it is like to wait for luck factor, and just do trading without enough analysis, but bet, guess or predict only, and so that's why some traders just hope to get the top and bottom of chart without analysis and put the position,,hope and hope ,,,but do not do a right thing[/lang]

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