The sad truth about trading in financial markets is that what you believe to be important is often not as important as you think. Normally, the most important trading points are seldom discussed and people seem to pass them by easily.
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Remember, trading is a job that in a good year, 5 to 10% of people who trade for real money actually make money at the end of the year. Professional traders are the ones who make the most money and they are your competitors. Therefore, they do not intend to waste their precious time and time to ensure that they know all the facts of the business and the most important skills and topics to focus on in order to continue their business.
The reality of trading in markets is that almost everything about it is deceptive and anti-intuitive or contradictory. I liken business to the greatest chess game I have ever invented. You compete with any other trader, including yourself, who can be their toughest opponent.
In this lesson, I am going to talk about some of the most deceptive aspects of trading that most retailers (like you and me) only realize when it is too late, because they already have a lot of accounts. Have exploded and left the business forever and are broken spiritually and financially.
How can I help you avoid being cheated in the market?
The following are some of the topics that you may not be thinking about when you start trading. They are usually discovered for a year or two in real money trading, because most people have already lost more money than they think.
Hence, I can only advance your knowledge for several years and pass on to you parts of the missing puzzles that you still do not even know are still lost. My intention is to both warn you and teach you how to overcome these issues so that your business career does not deteriorate.
My own experience of more than 18 years of real money trading in global financial markets has taught me many lessons. I do not have all the answers and there is certainly no pre-determined way to succeed in business. However, I have gained very strong insights into my business, and as a novice trader one of the most important things to be aware of is the deceptive nature of trading and the industry around it.
The following tips will provide you with some of the most enticing aspects of trading along with some solutions so that you do not lose them and you can trade with more leisure.
It is easy to enter into a deal, but difficult to get out of it
Many traders, not just beginners, tend to focus too much on getting into business and try to find a magic trading system or mechanical trading software that only allows them to print money automatically. It’s not your fault The trading industry definitely promotes entry and trading and the “system” (because that’s what gets people into the market) and considers money management and psychology to be the most important aspects of trading. The fact is that the exit from the transaction is much more difficult than the entry, so this is what you should focus most of your attention on.
Remember, when I say ‘exit’, I’m referring to everything about ‘exit’. Stop loss, lot size, risk to Rivard, level of support and resistance, average real amplitude and so on. There are many factors to consider when planning a trade, but for most traders, this may seem like a pointless talk.
How can we not be deceived? One of the reasons traders are easily fooled by this entry / exit issue is that all that is really being discussed and sold online and elsewhere are trading entry systems that simply do not emphasize the importance of exit. I hope that after reading this, you think more about leaving the deal than entering it, because making a profit happens when you leave the deal, not when you enter it.
Depositing money into a trading account is easier than withdrawing interest from that account.
The trading industry, for example, brokers make it easy to credit a trading account, but there is very little emphasis on how to make money and that you need to get some of your profits back on a regular basis. You have to remember that no one but you (and I) would care about our money.
Our goal as a trader is to always make money so we can get the money back so you can actually use (or save) it. The purpose of trading is not just to dominate, lose, and cover up your broker. You will hear about the ups and downs of money needed when visiting a broker’s website, but you will rarely read about downsides and risks, other than a very good print disclaimer at the end.
How can we not be deceived?
You need to be more of an offensive trader than a defensive trader. Your goal should be to save your money, not to trade as much as possible and lose your capital. Most traders start with a very aggressive mindset, whether they accept it or not.
By setting a goal for your trading and trading with the goal of gradually increasing your capital and account, you can be sure that you will maintain your trading trend for a long time.
There is no shortcut to success in trading
Perhaps more than any other topic discussed in this article, the subject of trading world deception about “overnight success” and “quick money” is probably the most deceptive and common. I do not like to talk about pessimists, but the truth about trading is very different from what is portrayed in popular financial media and most online business training resources. You may hate me for saying this, but I’re just trying to spread the word that you are not in the top 90% of traders who make a loss over time.
The mental image of a Wall Street trader who drives a Lamborghini and lives in his penthouse in New York City is what drowns the minds of many novice traders as they are first confronted by “existing powers” with These deceptions enter the market. It is good to have goals, even long-term goals, but you have to keep your footing in the reality of what it takes to achieve them.
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