At different stages of life, life experience and insights will produce great changes in our thinking.
The same is true in the foreign exchange market. From the initial entry into the market to the first, second, and third years, I have different feelings in my heart every year, and my understanding and experience of the foreign exchange market are also different. More and more, it is the only way to think about and summarize the market continuously. In the past few years, there have been gains.
Today, I would like to introduce to you some tips in the foreign exchange market for your reference.
Success means small losses, plus large and small profits, accumulated many times.
It is very simple to avoid major losses. Survival is the first principle. When there is a danger of hindering this principle, discard all other principles.
The way of trading, defending the invincible, attacking the winning enemy.
Forex master trading experience sharing
Many people have very good results in the simulation, and they can even double in a few weeks. However, once they perform real trading, they often lose money. At this time, their most common performance is to continue to study the methods of technical analysis, I want to increase my success rate, hoping to make money.
In fact, this approach is a detour, and it is unnecessary. Because under normal circumstances, technical analysis only accounts for about 20% of the entire transaction level, its importance is not great, many masters have low success rates, but they can continue to make money. If you say that the performance of your orders is very good when you simulate it, it means that your technology is very good. You don’t need to study it at all and improve it. You should spend your energy on other aspects, such as money management, increase in positions, and long-term trends. The grasp and so on.
You must stick to the good cards in your hand and reduce the bad cards in your hand. If you can’t stick to the good cards in your hand, how can you make up for the losses caused by the bad cards. There are many pretty good traders, and in the end all the money you make is spit out This is because they are unwilling to stop trading when they lose money. When I lose money, I will say to myself: You can no longer continue trading, wait for a clearer market. And when you get a good card, you have to be patient, otherwise you will not be able to make up for the money you lost when you get a bad card.
The most common mistake many traders make is too frequent. They will not choose the right trading timing carefully. When they see market volatility, they want to enter the market. This is tantamount to forcing themselves to engage in trading, rather than being in an active position and patiently waiting for a trading opportunity.
We are able to make a profit because we have patiently done a lot of work before entering the market. Once many people have made a profit, they will take the transaction lightly, and the operation will start to become frequent. The next few losses will make them unable to cope with it and cause huge losses, and even lose their money back.
Forex master trading experience sharing
Don’t be dazzled by the joy of profit, know that the most difficult thing in the world is how to continue to profit. Once you make money, you will want to continue to make more money. In this way, you will forget Risk, you will not doubt the correctness of your established trading principles. This is the cause of self-destruction. Therefore, you must always be cautious, be very cautious if you lose money, and be more cautious if you make money.
The trading strategy must be flexible to reflect market changes in order to show your highly cautious approach to combat. The most common mistake most traders make is that the trading strategy is always the same. When your important stop loss point is broken by the market, it is most likely that the market has fluctuated or the trend has changed. What about you? Can continue the operation of this trend. Therefore, at this time, you must be very cautious and wait for things to become clearer, rather than rashly continue to operate.
Before entering the venue, calm down and think more:
Think about how much professional skills you have to support yourself in the market,
Think about whether your mentality can withstand the ups and downs of big winds and waves,
Think about whether the limited funds in your pocket can cope with unlimited opportunities and losses.
The sunken ships on the seabed have a pile of nautical charts.
The most important factor for successful trading is not which set of rules you use, but your self-discipline.
Time is everything.
Life is not just a battle of strategy, it is also a competition of time and life to some extent.
Buffett lives for 10 more years, and even if only 5% of sustained profit is made every year, the total growth of its wealth is enough to be proud of the world.
Remember to over-trading
The foreign exchange market is a free market that can be traded at any time. At any time period, there is always a market in the world that is open. There are also dozens of foreign exchange currency pairs that have opportunities to trade at different time periods. There are also many traders who develop a time-to-market, The habit of looking at the market, this habit makes traders have the impulse to trade during the process of staring, and thus enter the market, sometimes even several times a day, unknowingly, their positions become larger and larger until the number of positions reaches A dangerous level.
Excessive trading will not only increase the cost of your transaction, but also make you lost in the self-predicament of trading for the sake of trading.
Grasp the market transaction
There are many profitable opportunities for trading in the foreign exchange market, but not every trading opportunity is worth grasping and pursuing, because funds and personal energy are always limited, and it is necessary for us to generate the maximum value of funds and energy To do this, you need to enter the market when the big market appears. A profit must be worth the sum of the profit of several small transactions. This saves energy and maximizes the profit.
Focus on opportunities for price breakthroughs
The price breakthrough in the market, especially the breakthrough of key points, is the emergence of important profit opportunities in the market. When the market price is in a long-term consolidation state, once the rise and fall breakthroughs occur with the cooperation of trading volume, it is good Time to establish a new position.
Develop transaction plans and risk control strategies
Under the effect of leverage, foreign exchange transactions must be accompanied by transaction risks. These risks may bring us fatal harm under the effect of leverage. Therefore, before trading, we must formulate preventive measures for various emergencies, such as stop How to set the loss, the implementation of adding and reducing positions are all crucial.
Summarize your trading mistakes
For every mistake in foreign exchange transactions, we must record it in detail, investigate the causes and various related factors, and regularly check and check whether we make mistakes again. In this way, you can make faster progress.