NEWS FUSE

Do not change too short -term - If you are aiming to make less than 20 points profit, not to conduct trade. The spread you are trading on will make the odds against too high .

Do not be smart - The most successful traders who know keep their trading simple. They do not analyze all day or research historical trends and track web logs and their results are excellent .

Tops and Bottoms - There are no real " bargains" in trading foreign exchange. Trade in the direction the price is going in and you're results will be almost guaranteed to improve .

Ignoring technical analysis - Understanding whether the market is over-extended long or short is a key indicator of price action . The peaks occur at the market when it moves in one direction .

Emotional Trading - Without that the most important strategy , you're trades essentially are thoughts only and thoughts are emotions and poor foundation for trading. When most of us are upset and emotional , we tend to make the wisest decisions . Do not let your emotions sway you .

Confidence - Confidence comes from successful trading. If you lose money early in your trading career is very difficult to recover it, the trick is not to go half-cocked , learn the business before you trade. Remember, knowledge is power.

Take it like a man - If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again . Sticking to a bad position ruins many traders - permanently. Try to remember that the market often behaves illogically , so do not commit to any trade, is just a trade. A good business will not make a commercial success, but ongoing regular performance over months and years that makes a good trader .

Focus - fantasizing about possible profits and then "pass" before they have realized it is not good . Focus on your current position ( s ) and place reasonable stop losses at the time you make the trade. Then sit back and enjoy the ride - they have no real control from now , the market will do what you want to do.

Do not trust demos - Demo trading often causes new traders to learn bad habits. These bad habits , it can be very dangerous in the long run , come about because you are playing with virtual money . Once you know how your broker's system , start trading small amounts and only take the risk you can afford to win or lose.

Stick to the strategy - When you make money on a well thought out strategic trade , do not go to waste half the next time in a fantasy , stick to your strategy and invest profits on the next trade that matches their long- term goals.

Trade today - Most successful traders days are so focused on what is happening in the short term , not what may happen in the coming months . If you are dealing with 40 and 60 points of focus stops at what is happening today as the market will probably move too quickly to consider the long-term future . However, long-term trends are not important, since it does not always help you though if you're trading intraday .


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