Successful Forex traders tips

Successful Forex traders tips

I want to ruin a myth that only with the big deposit you can be a profitable trader. Let’s continue, and I will show you were wrong.
The truth is that if you do not know how profitable to trade with a small deposit, you will not be successful with big money. If you do not understand what exactly you need to do, how to make deals correctly, you will naturally lose more money faster with a big deposit then with a small one. Don’t you agree?

Successful Forex traders

It is an illusory sense of advantage to have a significant deposit. Most likely, you think that this will give you a lead, allow you to double your deposit in a short time, quit your job, change your life. Dreams are pleasant, but on their ghostly wings, you will not fly.

Here you have a deposit of 100,000 dollars, but there is no trading experience, how will act, how you will trade? The probability of its “discharge” in the first months is 50 to 1. You forget that experience and psychology influence the success, not the deposit amount. It’s like giving a teenager without a driving license a Ferrari with a full tank and let him learn race in the race. The chances of Ferrari survival will sharply tend to zero!

Successful Forex traders tips

Change your thinking

You need to rebuild your thinking with “I want to earn a lot of money right now” on “How can I make money?”. Think about what you would trade if you had a big account, what would be the strategy, risks, algorithm. Then you will calculate the profit. Your task is to develop an algorithm – your rules and a trading plan in order not to lose your small deposit. Make a transition in thinking from “money” to “process”. Focus on the trading process! Work on your trading psychology.

Trade like a lion

low deposit

The lion carefully chooses the target, thoroughly studies it, patiently waits for the moment to attack and in one move attacks the victim. Stop selling everything; it’s like shooting on the market with a machine gun. Choose a few liquid instruments and trade them, train in your strategy, hone your algorithm on them and comprehend the laws of the market.

Consider the risks

Controlling your risks will keep your boat afloat in the sea of ​​exchange. Even on a large yacht you are studying maps, dangers and do not go to full speed in the reefs. We get rid of cliches – “the rich spend a lot, and they do not care!”. Rich people always know their risks, and how much it will cost, that’s why they preserve and increase their capital. All the rest – leave the movies and novels!

Controlling emotions

trading psychology

The greed of the trader has ruined. Do not seek to recoup each deal and “grab” more. Clever people advise: “Do not make important decisions when you are very happy or when you are in sorrow.” The highest Zen for a trader is a neutral, calm state, as in meditation. It will provide you with a sober view of the market, assessing your mistakes and the effectiveness of your strategy.

Complete the mission

Not the size of your account, but your ability to use it are the importance. Of course, if you have a large deposit, then you can trade in a big volume. But if you do not know how to do it, then it is useless. Be in the moment of trade and the profit itself will find the way to you!