Before starting today’s article, Learn Forex Trading has a few questions that you have probably asked yourself before forex trading strategies :
1) Would you trade differently if your account was not just $5000 but instead several million $?
2) Where do big players think differently from you and other normal people, why do they make so much money?
3) Does betting on a very large account bring about psychological changes in the “arena” we call foreign exchange trading?
The answers to the above questions will be based on your level. Your understanding of the market, money, and understanding of people.
Let me share my perspective…
It’s just about round zeros
The answer to all 3 questions above is: YES. Successful traders have a different view, way of thinking, and approach than you, different from the majority. You probably always know that forex trading strategies are a “place” with an extremely low success rate. Most people lose money with it. And so naturally, if you’re thinking and doing what everyone else is doing. You should take time to reflect.
Don’t be discouraged yet, with the right mindset and “a little” patience. You will gradually (possibly very slowly) become a successful trader. You’ve probably heard many stories about talented fund managers. He came from an unpretentious background, rose from zero, and achieved success beyond his expectations.
What I want to emphasize here is that you need to understand that the amount of money in your account is simply numbers. People who trade with a large account are only different from you in that they have a few extra zeros. They also live, eat, and sleep like you, but they think differently from you. They act differently than you… and as a result, they have more zeros in their account than you do.
See more: Trade Smarter with Demo Trading
Let’s pretend until it becomes real
There are still many people who think that forex trading strategies should be done with a very large account. This will make them a successful trader. They enter the market with a pretty good account balance ($50,000 – $100,000 and larger). And burn your account very quickly.
Looking back at question 3 at the beginning of the article, the answer is indeed always YES. Whether you own a large or small trading account. This will NOT change the trading method. And your steps to conduct a transaction.
Big bettors will have a different mentality than small bettors. But your forex trading strategies need to be the same as theirs. Thus, to become a big player in the market. Pretend (self-suggest) to yourself that you own a large trading account. And you will step by step trade, think, and act like those big guys. Until one day you become a member of that small group.
Let me give you an example:
Do you think people like George Soros sit in front of a computer all day and watch 5-minute, 10-minute, 30-minute candlestick charts?
Why should you pretend?
1) Soros and other big guys are rich and they only play big. And only play when you are sure of the huge amount of money thrown into the market. Once they enter an order, they never interfere with it. Don’t bother taking profits on small amounts, if you make a profit, you have to make a big profit. They are confident and because they have carefully searched for really good and clear opportunities, they do not cut losses early. They let the market do its job. Instead of sitting all day in front of the computer screen and praying the order will win. They know this is not necessary, they freely spend their time doing more useful things.
2) Because they have a comfortable mentality, they have better forex trading strategies and earn more money. They do not let emotions interfere and influence their decisions. And that is also what you need to “equip” yourself right now. Learn it, imitate it, and think you are one of them. Be patient and wait for a really good opportunity to come. Never fall into crazy trading for good luck.
How to trade like them?
Foreign exchange trading (stocks, etc.) is a particularly difficult field for everyone because it requires something mental. A discipline that not everyone can achieve (IQ is also necessary but it is only a small plus point).
If you don’t have discipline (steel), don’t have patience (steel), don’t learn how to plan when trading. Without the right method/sequence, you will never achieve success, just like them. And even for investing legends, it only takes one moment to stray off the path. Just a moment of subjectivity or bitterness or impulsivity. They can still go bankrupt, we can see J. Livermore empty-handed many times. And finally ended his life by committing suicide, sadly.
The first thing I want you to focus on is capital preservation and capital/risk management. Failure to do this is the biggest reason traders with small accounts lose money in the markets.
Start with a small account, practice, and learn good skills. And once you know how to make money, money is just a number. Money does not make a good trader, only good traders make money.
Need to control emotions when trading
Rushing into the market with a large forex trading strategies account does not automatically turn you into a top trader. You may have a different perspective on the market. But unless you spend a lot of time learning how to read charts, and understand what is happening in the foreign exchange market (or stock market. However, with a small-scale stock market like US, the charts on The map are always very susceptible to tampering, it is not highly accurate). Master your trading skills and control your psychology well. Then you cannot become a shark in the market.
Learn, understand, and completely master just one forex trading method of your choice. Believe in it, stick to it, and “cultivate” it. Gradually in this process, you will train yourself to think and see. How to act like famous trading masters.
What you need to do when forex trading strategies
To summarize, in today’s article, I want you to know that: you have not been successful in forex trading strategies. You still lose money because you are exploiting yourself too much. You expect too much, you want – the desire to make money in the foreign exchange market too quickly and too much. You can read and see a lot of information about people (who you have never met or verified) making money quickly and quickly with forex, and many brokers at exchanges. Websites ask you to deposit money into your account at their exchange. Paints you a very grand vision and achieving it is relatively easy and leisurely.
That’s not the case, my friend, calm down and reconsider everything. All successful people, in all fields, understand that they can never buy TIME. And they turn this fact to their advantage. They do it by trading forex in a logical, logical manner. Try to maintain maximum discipline, not always wanting to throw money into the market. If you keep putting money into the market, it means your money is at great risk.
See more: Registering Exness broker account on your phone
The last thing to remember when forex trading strategies
You can’t buy time, use it for other more useful things. Pleasures make your life happier (especially always spending a lot of time with your family). From there you will create a comfortable trading psychology, always objective, not greedy, not expecting, not afraid.
For those who have not been trading foreign exchange for a long time. It’s hard for them to understand: that you can make more money by trading less (but more quality) forex. In the early days, I was also a crazy trader. At that time, I hoped for the agility and a little cunning of a professional gamer as an advantage to make money. However, time has helped me wake up, through many failures.
Successful traders know that they need to observe the market for many days. Weeks before making a decision. When they are sure, they play big and always have a stop loss point, which is the price they accept if they are wrong. They understand that: With just one, two, or three really good and clear opportunities, they will make enough profit in 1 month, and they minimize the money in their account being bet with countless risks. on the market. The successful people I know often have a trading order every few months. But the volume of orders can make you feel dizzy.
Epilogue
Hopefully, with the above sharing of Learn Forex Trading, you have a better understanding of Forex trading strategies. This is not an easy field and it is very broad. Spend a lot of time researching and learning from experienced traders. Also learn about copy trading, a very useful tool for newbies and inexperienced investors.
