Ten criteria for "cainiao" traders to make successful transactions

　　

Successful Forex traders believe that a new forex trader must abide by the following 10 basic trading rules to have the opportunity to survive in a cruel foreign exchange market, avoid being a lamb on the altar ".

1. Experienced traders warned not to trade with feelings. New traders are prone to emotional impulses, but not good traders. Do not always think that a position is correct and that the market is wrong. The market is always correct. The market has nothing to do with your opinions and positions.

2. Keep humble posture forever. A well-known trader said he should be humble in front of the market. Otherwise, the market will let you know that this attitude will go wrong. Those who think they are smarter than all others in the market think they are always lucky. These ideas will not be maintained for a long time.

3. reduce losses in a timely manner. When a loss occurs, you must take the lead, stop the transaction, and reduce the loss. When your trading position is profitable, let it grow further. This is an old creed. Many traders repeat this creed.

4. Compliance is essential. Some traders who use trading systems that have been tested and tested repeatedly make money. Those who lack code of conduct often cannot adhere to consistent transaction behavior. In the course of the transaction, we are eager to make changes, and the lack of a one-stop operation will destroy all the profit opportunities.

5. Manage your funds. Senior traders suggest specifying a percentage of money to prepare for risk taking, which can be 2% or 3%, and never change this percentage.

6. Learn and act later. A common mistake for new users is that they do not know what to do when they enter the market. They do not know much about the market. They never take the time to observe how the market works and take their money for adventure. Generally, when people do one thing, they always observe and learn before deciding on action.

7. Know when to exit. Traders should know when to pull their positions out of the market. No matter what systems they use, they all know the time to go out. This helps traders to get rid of the two-pronged approach and stick to a system, which can also reduce losses. You can set a stop loss command to reduce losses.

8. associate with the trend. "Trend is your friend", which is repeated by some old foreign currency traders. This is the only way for foreign exchange transactions. Successful traders believe that it is important not to predict the market trend and fluctuations, but to follow the trend.

9. Grasp the present. Successful traders suggest that they grasp the current market situation and predict the future in the near future. No one can accurately predict the future. Therefore, traders must make the current transactions well rather than always forecast the future.

10. Think about who is losing money. Veterans of Foreign Exchange think that they should know who you want to earn profit from. If you buy and recognize that he is right, then the one you sell thinks he is right. People need to make money from the wrong person. That is of course true.

Source: Foreign Currency Commission

Ten criteria for "cainiao" traders to make successful transactions