Month: December 2020

Foreign Exchange Trading Experience

To succeed, people often say that attitude is everything, and so is foreign exchange trading. It is necessary to learn the foreign exchange trading experience of successful people with an open mind. As a slogan to express the power of positive thinking. To put it simply, we should have a positive attitude in doing things.
Forex Trading Experience free no deposit bonus
Foreign Exchange Trading Experience

As long as we keep positive thinking and work hard, we can finally succeed. But in the field of trading, especially foreign exchange trading, it is not enough to rely on attitude alone. In addition to a positive attitude, we should also maintain a good attitude and learn from successful foreign exchange trading experience.

  1. Long term stable profit

As a professional trader, what we have to establish is the concept of long-term sustainable and stable profits. We should not pursue overnight wealth, that is, we should not bring gambling mentality into the market. Investment is a very serious thing. When you want to gamble with the market

At that time, the foreign exchange market becomes a gambling market for you. Have you ever heard of successful gamblers?

earn forex free bonus no deposit
Lessons From Foreign Exchange Trading (Trading Principles)

2. Objective transaction is better than subjective transaction

Objective signal and subjective signal have their own advantages and disadvantages. Every investor should build up confidence in trading and trust his own judgment, but overconfidence may lead to overconfidence in subjective signals; objective signals are often very reliable, but the biggest disadvantage is to send letters

It is easy to delay the signal because most of the technical indicators are caused by the delay of sending signals.

Objective trading and subjective trading should complement each other. When there is a contradiction, you need to make a choice according to your accumulated experience. If you can’t make a choice, please believe in the objective signal. When the objective signal and subjective signal are consistent, further confirm that your trading is likely to be correct.

earn fx true promotion
Foreign Exchange Trading Experience

3. Get what belongs to you, don’t be greedy

Every day, there are opportunities. If the opportunities are implemented in the ultra short term, they can even be described as unlimited opportunities. However, our energy is limited, and the opportunities we can seize are also limited.

It is also about the choice of opportunities. It is about facing the temptation of excessive trading opportunities and the market. We should only grasp the opportunities that we can grasp and grasp with basis. We should build positions with rules, and we should build positions without rules

Give up trading, or just try to trade small positions, trying to create new trading rules.

forex trading success principles for begginers
Foreign Exchange Trading Experience

4. Avoid fear and regret

Fear and regret are the most common faults of foreign exchange market traders, and they often become the key factors affecting the trading mentality. Fear is reflected in fear of shrinking profits, fear of market turn around, fear of hitting the stop loss and turning back. The three contents that some investors fear are actually completely psychological

In the trouble: fear of profit shrinkage performance do not trust their own trading plan, do not believe their own judgment; fear of market turn is not aware of the market trend is not easy to reverse, even if there is a reversal, there are stop loss price as risk control, according to the new market

The reason is that there has been such a situation, but investors have not looked for the reason from the method and probability of stop loss setting. There is no unchangeable trading method and no unchangeable opportunity in this market.

cuppon free signup bonus no deposit
Foreign Exchange Trading Experience

Lessons From Foreign Exchange Trading for Beginners(Trading Principles)

Whether it is investment in domestic market or foreign market, whether it is investment in general goods or investment in financial goods, the basic investment strategy for beginners is consistent, especially in the foreign exchange market. Although everyone’s investment strategies are different, some of them are basic.

For example, the following strategies summarize our experience and lessons in foreign exchange trading for many years, which have considerable reference value for all kinds of investors,espeecially for forex trading biginners. It’s a valued forex bonus for all traders.

Forex Trading for Beginners account opening bonus
  1. Investment with spare funds

If investors invest with the necessary expenses of family life, in case of losses, it will directly affect the livelihood of the family, and the chances of failure in the investment market will increase. Because when making money with a sum of money that should not be used for investment, we are already at a disadvantage psychologically, so it is difficult to maintain an objective and calm attitude in decision-making. Do as much as you can afford.

  1. Don’t trade too much

To be a successful investor, one of the principles is to keep 80% of the capital at any time to cope with the fluctuation of price. The cost of each transaction is only 10% to 20% of the principal. If you don’t have enough money, you should reduce your sales contracts. Otherwise, you may be forced to “blow up your position” to free up money due to lack of money. Even if it turns out that your vision is accurate, it won’t help.

Don’t run out of ammunition at one time. Bullets can be loaded at any time.

Forex Trading for Beginners account opening bonus free
  1. Face the market squarely and abandon fantasy

Don’t be sentimental, look forward to the future and remember the past too much. A U.S. futures trader said: a person full of hope is a beautiful and happy person, but he is not suitable to be an investor. A successful investor can separate his feelings and transactions.

The market is always right, the wrong is always their own.

  1. Don’t change your mind rashly

It’s very dangerous to make a decision based on the current market price and the change of the market price.

An iron army must have iron discipline.

  1. Make appropriate suspension

Trading day after day will slow your judgment. A successful investor said: whenever I feel that my mental state and judgment efficiency are as low as 90%, I can’t make money. When my state is lower than 90%, I start to lose money. Therefore, I suggest that I put everything down and have a rest for a few days. A short rest can help you to understand the market and yourself again, and help you to see the direction of future investment.

When you are too close to the forest, you can’t even see the trees in front of you.

  1. Don’t be blind

Successful investors don’t follow others blindly. When everyone thinks they should buy, they will sell. When everyone is in the same investment position, especially the small investors follow up one after another, the successful investors will feel dangerous and change their course. This is the same as the reverse theory, when most people say they want to buy, you should wait to sell.

Truth is sometimes managed by a few hands.

coopon account opening bonus
  1. Refuse others’ opinions

When you grasp the direction of the market and have a basic decision, don’t change your decision easily because of the influence of others. Sometimes other people’s opinions seem reasonable, which makes you change your mind. However, you find that your decision is the right one afterwards. In short, other people’s opinions are only for reference, and one’s own opinions are the decision of business.

Advice belongs to others, and money belongs to oneself.

  1. Uncertain market

It is not necessary to enter the market every day. New entrants are often keen to enter the market. However, successful investors will wait for the opportunity and leave the market first when they feel confused after entering the market.

If the trading process is your greatest happiness, please trade every day…..

  1. Make a quick decision

When investing in the foreign exchange market, there are many psychological factors leading to failure. A quite common situation is that when investors are faced with losses and know that they can no longer be lucky, they are often hesitant and unable to make an immediate decision. As a result, they fall deeper and deeper and their losses increase.

I’m afraid of mistakes, but I’m afraid of procrastination.

  1. Forget the past price

“Past price” is also a very difficult psychological barrier to overcome. Many investors are affected by the past price, resulting in wrong investment judgment. Generally speaking, after seeing the high price, when the market falls back, they will feel quite unaccustomed to the new low price. At that time, even though various analysis shows that the market will fall again in the future and the market investment climate is very bad, before these new low price levels, the investors will not only not sell their own goods, but also feel “low” and have the impulse to buy. As a result, they will be imprisoned after buying It’s locked in. Therefore, investors should “forget the past price.”.

Remembering “history” means betraying the market.

free signup bonus no deposit
  1. Patience is also an investment

There is a saying in the investment market that “patience is an investment“. I believe few investors can do this. Foreign exchange investment and trading people must cultivate good endurance, which is often a key to success or failure. Many investors do not have poor analytical ability or lack of investment experience, but lack of endurance and buy or sell too early, resulting in unnecessary losses. For example, in a year, the US dollar has been rising, so it is an investment to hold us dollars all the time?

The early bird doesn’t necessarily have worms to eat.

  1. Stop loss and profit

This is an extremely important investment skill. Due to the high risk in the investment market, in order to avoid the loss in case of investment mistakes, we should stop loss and stop profit every time we enter the market. That is to say, when the exchange rate falls to a predetermined price and may fall, the transaction should be settled immediately. Therefore, this kind of calculation is an order to limit the loss, so that we can limit the further expansion of the loss. Only in this way can we maximize our interests and minimize our losses. There is no omnipotent theory, no omnipotent technical analysis method, no omnipotent analyst in the world. When any brilliant theory, precise method, and superb analyst is wrong, only setting a stop loss can save you from heavy losses. Remember!

Please fasten your seat belt when working at height.

  1. Pay attention to potential but not price

When we trade, the reason why we buy a currency is because we expect it to appreciate. We buy it in advance and then sell it to earn a difference. This truth is very obvious. However, for those who are new to the market, they often forget this truth. Instead of focusing on the future trend of price, they focus on the transaction cost. They always hope that they can make a deal at a lower price than others. It seems that they are mentally retarded to buy a little bit higher. They often look for the lowest price for a period of time, miss the trading opportunity, and wait to see When the market saw the appreciation of the currency not bought, it was too late to regret. The correct way is to recognize the general trend and attack quickly. Don’t be confused by the immediate interests. Only it can rise. It’s right to buy it any time today and look at it tomorrow. Today’s highest price may be tomorrow’s lowest price.

To pick watermelon, don’t greedy sesame.

Lessons From Foreign Exchange Trading (Trading Principles)
Lessons From Foreign Exchange Trading (Trading Principles)
  1. The key is self-discipline

A lot of trading strategies and techniques are familiar to people, even backward, what to follow the trend, to set a stop loss, make a quick decision and so on. Why are so many people losing money? Because many people are: can say, can’t do! Just imagine, the market is either up or down, the opportunity is half to half, even if there are five losses and five gains in ten transactions. If you can make up your mind, you will lose a little every time. I believe it is not difficult to make a comprehensive calculation.

Why do so many people lack self-discipline?

a. It is fluke psychology, indecision and other psychology that makes trouble.

For example, after a bull run, the market turns downward, and I always think, “it doesn’t matter, it will stop falling and pick up soon.” I constantly comfort myself, replace reality with “Hope”, and forget the principle of “no delay”.

b. It’s too subjective to make a mistake.

When you go to buy, you think “it will rise” and when you go to sell, you think “it will fall”. Did not think of “in case of wrong how to do”, pure Du Bo psychology, do not lose is not normal!

c. It’s inertia.

Knowing that stop loss and stop profit must be carried out at the first time, he is lazy to deal with it immediately. With the mentality of “it’s not too late to talk about it at that time”, he is often caught off guard by sudden changes in the market.

20 Forex Trading Guidelines

[ai_playlist id=”211″]

AGEA $5 No Deposit Bonus Coupon Code
AGEA $5 No Deposit Bonus Coupon Code

1. Plan your trades and trade your plans.
2. Hope and fear are the two greatest enemies of speculators.
3. Keep records of your trading results.
4. Maintain a positive attitude no matter how much you lose.
5. Avoid overconfidence——it could be your greatest enemy.
6. Continually set higher trading goals.
7. Stops are the key to success for many traders——limit your losses!
8. The most successful traders are those that trade long term.
9. Successful traders buy into bad news & sell into good news.
10. The successful trader is not afraid to buy high & sell low.
11. Successful traders have a well scheduled planned time for studying the markets.
12. Successful traders set profit objectives for each trade they enter.
13. Do not collect the opinions of others before entering trades——facts are priceless——opinions are worthless. In short successful traders isolate themselves from the opinions of others.
14. Continually strive for patience, perseverance, determination, and rational action.
15. Never get out of the market just because you have lost patience or get into the market because you are anxious from waiting.
16. Avoid getting in or out of the market too often.
17. The most profitable trading tool is simply following the trend.
18. Never change your position in the market without a good reason. When you make a trade, let it be for some good reason or according to a definite plan; then do not get out without a definite indication of a change in trend.
19. Losses make the speculator studious——not profits. Take advantage of every loss to improve your knowledge of market action.
20. The most difficult task in speculation is not prediction but self-control. Successful trading is difficult and frustrating. You are the most important element in the success equation.

FOREX Trading Basic Knowledge

Top 10 Trading Tips

[ai_playlist id=”211″]

  1. Be Patient
AGEA $5 No Deposit Bonus Coupon Code

Don’t try and run before you can walk. If you are new to trading you must realize that you won’t become wealthy and successful overnight. There will be a period of learning in which you should use the tools available to research the various currency pairs, trading strategies, tools etc. Setting up an account and just getting carried away in the excitement will only lead to you losing money and not maximizing your opportunities.

  1. Learn About The Industry

What do you really know about Forex trading? OK so you understand the basics of the currency pairs, the majors, minors and exotics and how to make a trade but do you know everything there is to know. What is a Pinocchio strategy or a candlestick chart for example? Like everything, when we are new to it there is still so much to learn. You can’t just get in a car and drive off if you’ve never had a lesson, right?

  1. Choose a Great Broker

The right broker will make your Forex trading experience so much more successful, enjoyable and stress-free. Make sure you shop around and find the one that offers what you are looking for. You need to ensure that they provide a mobile responsive website or an app, a demo account, welcome bonuses and more importantly that they are licensed and regulated with a recognizable regulatory body.

  1. Take Advantage of a Demo

Practice makes perfect and a demo account is an excellent, no-risk method of practicing your trades. Using a demo account means that you don’t have to risk any money until you are ready. You can become familiar with the platform, how to execute trades, get familiar with the tools and various charts and learn from your mistakes with virtual funds that don’t cost you a dime.

  1. Investigate The Bonuses

When you are being bombarded with the temptation of one bonus after another you need to ensure that you weigh them all up and what you are indeed being offered. Most

Forex brokers will insist that you trade the bonus several before it can be withdrawn. Many brokers will offer a matched deposit or a percentage of your deposit while others will allow you to sign up and get a no deposit bonus. The no deposit bonus is great for allowing you to trade for free.

Practice makes perfect and a demo account is a great way to practice trading.

  1. Don’t Risk Too Much

Like anything it is essential that you only risk what you can afford to lose. That’s not to say that you will lose it but there is a chance that you could. If you are trading your mortgage money, your rent or your car payment then don’t do it. You could lose that money as quickly as you could win and once it has gone there is no way to get it back except to keep trading with more money that you can’t afford to lose.

  1. Keep Reading

Markets react to global news, trading conditions change, new strategies are introduced and things are continually evolving. Nothing stays still and neither should you.

You need to make sure that you continue to educate yourself when it comes to all things Forex and financial. Keep reading information, after all, knowledge is power.

  1. Trade on The Short Trades

Short trades mean quick wins hopefully. By trading on the short trades, rather than the longer ones there is much less that can go wrong. If you wait too long, then you could find your fortunes reversing. With the short trades, you can make your money and then move onto the next one. While you will find that you need to place more trades to make the same money at least you are slowly building up that account balance.

  1. Treat it As a Business

Imagine you are investing in a business. You want it to be successful and profitable, so you take measured risks that will return on your investment. You don’t recklessly buy expensive machinery in your first weeks of trading unless you can afford to. Treat your trading as your own business and nurture it so that it grows and provides an income for you.

  1. Only do What is Comfortable

You know what you feel comfortable with. If you are a ten-dollar trader, then don’t suddenly trade a thousand dollars on a single trade to make some quick money.

Imagine how many small trades it will take to make that back! Likewise, don’t suddenly start trading in different currency pairs on a whim unless you have researched the market and are prepared to start small.

Silver Prices Race Higher to Create a Failed Breakdown

AGEA $5 No Deposit Bonus Coupon Code
AGEA $5 No Deposit Bonus Coupon Code

Silver prices gained 6.63% last week to reverse the direction of the price action and create a major buy signal. Commodity investors are focused on the U.S. stimulus bill that is still being discussed among the lawmakers.

“Softer jobs growth and tighter social mobility restrictions ostensibly lower the hurdle for a policy response from (U.S.) Congress,” said Stephen Innes, chief global market strategist at financial services firm Axi.

Silver prices had initially broken down below the triangle’s support at $23.40 and pushed to $21.89, which is the 2-month low for the metal. However, the buyers have managed to reverse the downtrend and force a bullish weekly close above the $24 mark. The price action now faces a strong resistance block in the area of $24.80 – $25.00.

—Provided by USDcashback.com
—An online forex trading rebates service since 2012

Brexit Trade Talks News

AGEA $5 No Deposit Bonus Coupon Code
AGEA $5 No Deposit Bonus Coupon Code

According to the guardian, EU sources said that as part of a broader compromise, the UK has played down a key requirement for fishing rights after brexit, that is, the British should hold a majority stake in fishing vessels currently flying the British flag in the future. According to the new

take losses quickly
take losses quickly

fishing arrangement next year, the catch of these fishing vessels will increase. The settlement of this issue is an important step towards reaching an agreement. On Monday, EU chief justice for brexit talks told members of the

all successful traders started as beginners
all successful traders started as beginners

European Parliament that in response, he had made a compromise on the “framework” of the fisheries agreement and accepted that there would be a transitional period for gradual change. But Britain and Europe have yet to reach an agreement on how many EU fishing vessels in British waters will be repatriated and whether they can fish in waters 6 to 12 miles off the British coast.

—Provided by www.USDcashback.com
—An online forex trading rebates service since 2012

We provide forex trading cashback commodities trading rebates for each trade you make on AGEA both Streamster and MT4 trading accounts.Check the cashback Discount Code, Contact support for the free $5 welcome bonus.

Chapter 2 – Your Book

AGEA $5 No Deposit Bonus Coupon Code
AGEA $5 No Deposit Bonus Coupon Code

ALS – Phantom, can you remember the first advice you ever heard from another trader?

POP – No, I can’t ever remember any advice. I don’t mean to be ungrateful to all my many friends and colleges but I really don’t remember any advice. In fact that is part of the reason I want to pay a debt to other traders. I don’t think anyone ever gives much advice because they feel it is putting them at a disadvantage. Of course it isn’t the case but most traders behavior is determined early in their lives. That is why I feel behavior modification is critical.

ALS – I can see the critics already starting to line up to point out your big point of trading is behavior modification! Are we going to write an entire book on behavior modification? If so we will have to give this book away. Not only that but also what creditability does Phantom of the Pits have to anyone?

POP – Nothing would please me more than to give the books away. Or perhaps we could ask Futures Magazine to sponsor it for all the publicity they would receive. Accurate insight is what we are going to give every trader who reads this book. It isn’t enough to point out requirements. I want to give them guidelines so they can chose their own destiny.

ALS – Sort of like change your thoughts and you change your destiny, huh?

POP – This is exactly where we want to be. No promises, no requirements, no false hopes and no undue influences. Exactly the way it should be. Traders must make their own millions. I only need to be responsible for keeping them in the game forever.

ALS – Phantom, I don’t make my money from writing so how about making it a little easier in writing this book for me. Guide me a little in what you want to convey to the traders in this book.

POP – I have an idea, which presented itself, when I viewed some of the other trader’s questions on the forum I frequent. They don’t know the important questions other than from their own experiences in trading. Eventually they will come upon all of the situations I want to protect them from getting into. However, I don’t want to give specific trading advise or any outdated information like I wrote in some of my documentation of the 70’s. Why don’t we call upon the traders from the forum to guide us in the knowledge they are seeking for this book?

ALS – Great idea! I am impressed with several traders but this one Trader I know he will respond. But we don’t want to exclude any of the others traders so I guess we kind of make them Phantom of the Pits Too!

POP – I like the idea. No losses to throw out is what I enjoy.

ALS – Ok again! You Win! You are right!

POP – Funny, I have had years to hear what you just said. I really don’t hear that anymore. I mean you win and you’re right. Trading is not those statements. A trained trader understands success as you lose well and you’re wrong small. Trading is called coming out on the small loser’s side and being rewarded with knowing how good you have been wrong. 8 It requires a balanced life to sustain the meanness of the markets. Traders never plan for the bad days and there are bad days. It is when it affects their lives that they must make a new choice. Either change their behavior or go down in defeat.

ALS – There’s our subject again. Are we going to get tired of hearing the truth of trading?

POP – Traders have a choice. Either face the truth of trading or look for the nearest exit. Speaking of facing the truth, I don’t know what your plans are but I have a mind for a good 2 inch steak served up for dinner. Chow for now!

ALS – You ever eat crow?

POP – Surprisingly in my early years no but in my mid years yes. I think that’s what you

Back to Contents of the book

—Provided by www.USDcashback.com
—An online forex trading rebates service since 2012

Chapter 1 – Phantom’s Insights

AGEA $5 No Deposit Bonus Coupon Code
AGEA $5 No Deposit Bonus Coupon Code

The following is an interview with one of the most powerful traders I have ever known and whom I consider the best trader I have ever known. His purpose in this agreement of this interview is to help those who have that ability and desire to become the best traders they can possible be. There is no claim to fame so to speak but only the honest effort to bring to other traders the insight of a very difficult business of trading for a living.

ALS – Phantom, why do we start this book without knowing who you are for others to admire and thank?

Phantom of the Pits – I remember being on a train after one of my first trading days and thinking of how I had doubled my account in that one day. I looked around and was so proud of what I had done but not one person on the train knew or would even care if they did know. At that point my direction was self-driven in seeking out what was possible in trading. I know more now than I knew then. The markets as a trader have humbled me more times than I wish to remember. It’s always easier for an observer to put their finger on a problem than the one who is wrapped up in the situation. That is who I am! I am the observer and I wish to point out the line in the sand. I don’t know who puts the line in the sand but I clearly see it. Who remembers he who points out the line? You may call me Phantom of the Pits from here forward and we shall remain as the shadow of your writings.

ALS – After over three decades of trading why haven’t you written a book sooner?

POP (Phantom of the Pits) – I have but they have all seemed to be outdated because knowledge is quicker in coming than in writing I always wanted to have it exact. I have made mistakes and to give my mistakes to others seemed to be admitting I was wrong. It has taken years to understand that being wrong is what trading is all about.

ALS – Surely there are those who know you and appreciate what you have accomplished in your trading career. Why don’t you accept their recognition?

POP – I have always believed that there are two sides to a coin. In fact I find out that there are times when you could argue a third. I won’t take credit for what I have accomplished. There are no guarantees and I have been put on notice a few times. My success is nothing without putting a bucket full of water beside the pump to prime it for the next trader, the other side of the coin. There will always be those who drink all the water from the bucket (the third side of the coin.) Why shouldn’t the thirst of others be fulfilled when it can be done so easily?

ALS – To You what is the most important aspect of trading?

POP – Behavior modification without doubt is the key to trading success. Not only in how we think but also how we act in certain situations. We must adapt to changing situations which we have no control. We often must change the situations of which we do have control when trading.

ALS – Let’s start your writings and insights into successful trading from any background you can give us of your trading! Is there any important point you wish to make about your trading background.

POP – My only point is that I am not different from any of the readers who will read this. How I got started or who I am makes no difference in trading. Let us not dwell in such trivia, which has no significance in how your readers will succeed. What was is and what is was but a breath after the markets close.

ALS – Ok, with me if it is ok with you that we get started with our behavior modification of trading! 6

POP – Ok with me but a little history on my first access to behavior modification as a child. My brother was at a tour of a blacksmith’s shop in his youth and watched the blacksmith take channel lock pliers, hold a horseshoe, hit it with a ball pin hammer a few times to shape it, and then put it into a fire to temper the metal. Upon removing the horseshoe from the fire and dipping it into water, a tempering process, he laid it down! At that point my brother picked it up and threw it down on the ground. The blacksmith looked at my brother and said “Hot isn’t it son?” Well my brother said “It don’t take me long to look at a horseshoe!” That taught me more in trading than anything else. Trading is not taking long to look at a horseshoe. Don’t ever forget that!

ALS – Trading is like a hot horseshoe?

POP – Your losers are your hot horseshoes! Note: Phantom has observed and participated in an internet forum sponsored by Futures Magazine in an effort to pay his debt to other traders. Many sharp traders frequent the forum as well as beginning traders. One remark of interest in observation of the forum by Phantom was as to how effective knowledge can travel today compared to the late 60’s and early 70’s. It is Phantom’s thought that he who has the most toys will not win but he who has the most knowledge and can change their behavior to what is needed will take it home.

“It should never take long to look at a horseshoe”—POP

Back to Contents of the book

—Provided by www.USDcashback.com
—An online forex trading rebates service since 2012