Translated from Russian by Google Translate
2 Сентябрь 2009

What can not be done on the Forex and why

About the fact that the tactics needed for each trade forex trader written and said not once, but this need not give rise to, to forget about such an important and necessary element. In addition, quite often hear about the importance of the internal equilibrium of the trader, but the fact that the man is such that a priority for him is the fact that here and now, so over time that will be read today may forget tomorrow.


Today I would like to talk about how important tactic trade forex. Once my driving instructor said to me: «What is the most important thing in the car?». Then I guessed wrong the first time that it was the brake, but now any driver knows full well that it is the brake - the main thing in the car. Similarly, for trade in the currency market. The main thing - not a movement, and the ability to stop when you need it. Therefore very important to know what not to do to trade with your profits / losses do not bring you extra gray hair.

So, what not to do:

1. Your forex trading tactics should work so that you have eliminated the opportunity to play the last of his money. When you act this way, then on you will always hang fear losing, but this is sure to leave its imprint on the trade. And, as you know, fear - this is another step of the market «veto». Even in the darkest moments do not be tempted to act in this way, because you have to program in advance for a fall.

2. Never want to indulge themselves with hope. If you know someone who sells well and know what he uses for this strategy, it does not mean that if you use the exact same strategy, it will work with you and bring you profit. If you’re continually progressing - to read literature, and generally interested in everything related to stock trading, then sooner or later, you develop your own methodology, based on personal experience. The strategy, developed by you, will work much more efficiently than the strategy taken over from someone else, because it is the best way is to reflect your preferences, your character and style of trading.

3. Always remember that you’re in the market - one. One in everything: in their endeavors, strategies, etc. Everything you do, you make for themselves and for the benefit of themselves. «Hanging» on the thematic forums useful, but within reasonable limits. At least, is always worth remembering that any information provided on the general review, is unlikely to be disinterested. So let’s think about whether or not you ever hang around on forums and websites, or the time is better spent to develop its own strategy.

4. Fear - non-constructive element in your emotions. A successful trader - is the man for whom the tactic of Forex trading is a priority. Therefore, if you pay a lot of time analyzing the market, the search for new paradigms that would bring you luck, you will not have time exposed to fear. You will be constantly busy and focused. There is a category of people that the fear of acting hypnotic. Such people die out, though, as the melting of the deposit, unable to take any decisive action. Others, on the contrary - in such moments begin to act more decisively. They begin to trade more actively, resulting in a usually leads to zeroing of the account.

5. Another worst enemy of any trader - emotions. Any Forex trading tactics will not work if the trader will constantly interfere with his emotions. We need to develop a protective reflex. If one by one, you are unprofitable transactions, it must stop. Away from all trade or just come out and breathe fresh air. Forex trading - this is not a place where there are any guarantees. Therefore, there can be no assurance that after the band of 10 loss-making transactions will strip out of 10 profitable. Success will come when you will regain confidence and self-confidence and you will think clearly.

6. We can not completely trust the comments to the appropriate people. Just as you can not use just one method of analysis when deciding whether to enter the market. The situation on the currency market should be analyzed comprehensively, from the general background of the financial market and ending with the technical features of the movement of currency pairs. This pooled analysis of all data will allow you to see more precisely the situation that occurs at present on the forex market. In addition, never forget that the currency market - the market is cyclical. This means that the situation that there is currently on the market, had once been.

7. Never place the main purpose to which you aspire, and money. Money must be for you a means to an end, not an end in itself. It is very important when trading forex tactic works and it gives the trader moral satisfaction.

8. Do not need to be gambling. Forex Market - this is not roulette, where the game is built on the principle of «lucky - no luck». In this case, the excitement will never help you build up the money supply, so the adrenaline and excitement carefully hide and let them go outside.

9. Do not be overconfident. Perhaps your tactics forex trading profit during the week, but that does not mean that you should think that you are the best trader of all time. Vigilance and accuracy has never stopped anyone. Flushed with success trader can fly very high, but how hard will then return to earth.

10. Be able to tolerate. If a forex trading tactics do not work, make sure you are looking for something else. Quick profit will not work. Success - is the result of long and painstaking work. Carefully lepite it, and throw away the emotions aside. Leave them better for later when you go shopping at the first money to win.