In the foreign exchange market, there are many people who hold the idea of "getting rich overnight". Entering this market, everyone hopes to make a profit. However, not every trader can become God's darling. Enthusiasm alone cannot be lucky for a long time. So how can we not be abandoned by the market?
Recognize yourself and be responsible for every transaction
In the eyes of some novices who don't know how to trade, market opportunities abound, and it seems that every market can be grasped, and every market belongs to themselves, but it is not the case. The market is fluctuating at any time, and it is impossible for us to grasp all the market conditions.
For traders who are new to the futures market, first of all, you need to find out your own position and know what you want. Some traders try to catch no matter what market they see, but in the end they don’t catch anything, and instead they will suffer miserably.
Second, take every transaction seriously. In the foreign exchange market, there will always be people who are complacent because they have tasted a little sweetness, thinking that they can be alone. But once you experience a trough in trading, you will start to give up on yourself and blame others instead of analyzing and reflecting on the reasons for profits and losses. Such people often fail to find the laws of the market, and naturally cannot realize their own problems, but instead blame the market.
You know, the market is fair. Only when traders take every transaction seriously, the market will give you a big hug back, otherwise, you may be abandoned by the market. Therefore, we are responsible for every transaction we make, whether it is a profit or a loss.
Do a good job in capital management and control risks
Some traders find the correct entry point in the transaction, but fail to grasp the exit point. The final result is that they do not make money, and even give up a lot. At this time, when you think back to the transaction you just made, you may attribute the blame to not getting out of the market in time, not stopping the loss in time, etc., but in fact the fundamental reason is that you did not realize the importance of fund management and risk control.
Facing the ever-changing market, it is particularly important for traders to control risks if they want to firmly grasp a wave. Only by doing a good job in fund management in advance and strengthening the control of risks can we achieve a degree of advance and retreat, so as to better grasp the opportunities that continue to appear in the foreign exchange market.
Calm analysis, do not impulsive trading
Blind trading is a transaction that wants to seize an opportunity without considering the transaction value and profit-loss ratio. Such traders often do not have their own trading methods, and always like to follow their own feelings. As long as they feel that they can gain something from the market, they will rush into the market. They only see the little profit in front of them, but ignore the potential risks.
There are not always valuable trading opportunities in the market, and the market is constantly fluctuating, but not every fluctuation can be rewarded. Sometimes an order is profitable at the beginning, but when we enter the market, we lose money in a mess, and even blow up the position. In fact, a very important reason is our own blind psychology.
Traders should focus on those market conditions that can be seen and are more confidently able to hold. Therefore, you must carefully consider before trading, find the entry point, do a good job of stop profit and stop loss, and do not trade blindly.
Have a trading plan and be disciplined
Making a trading plan can reduce the randomness and blindness of trading to a certain extent. Many seniors in the trading world are emphasizing the importance of planning. Making a trading plan will not only help traders analyze the market carefully, understand the market more deeply, but also help traders improve their own trading system. When encountering a suitable market, you can pre-set entry and exit points, stop profit and stop loss points, etc. according to the trading plan. In this way, if the market fluctuates greatly, traders will not be at a loss.
"Plan your trade, trade your plan", when traders have made some gains in trading, they will gradually understand the meaning of this sentence. The foreign exchange market is full of all kinds of temptations, and it will fall from the top of the mountain to the bottom of the valley if you are not careful. And all you need to do is to control your mentality and strictly implement your trading plan.
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