Foreign Currency Exchange Trading Tips How to Take and Handle Trading

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Foreign Currency Exchange Trading Tips: 5 Tips on How to Make the Most Out of Trading Losses. :

Foreign Currency Exchange Trading Tips: 5 Tips on How to Make the Most Out of Trading Losses. By: Jay Molina From: http://myfxventure.com/

Slide 2:

Quite a few books have been written on how to make money in the market. Many of these books can be really useful when you are trying to learn new techniques to profit from the Forex. However, what you don’t see often are books or articles that teach you how to respond and take losses. Foreign currency exchange trading can lead you to become a very successful investor as long as you educate yourself and strengthen your trading skills. Learning how to take a loss is one of the most important lessons you will learn as a trader. In this trading article I would like to share with you 5 ways to make the most out of your trading losses.

Slide 3:

Accept the fact that every trader has losses: This is something that many beginner traders have problem understanding. The Forex industry is so full of gimmicks that many newbie traders believe false claims such as “Win 100 % of the time” or “This trading system has no trading losses”. The truth of the matter is that every trader has trading losses, even the professional traders. What makes the difference is the way how successful FX traders manage their risk and protect their trading accounts. Analyze your losses and learn from them: Trading losses are just part of the Forex trading game. I have always said to my traders that you learn more from your losses than from your winning trades. The only way to improve your trading skills and take your career to the next level is by learning from your trading mistakes. Success is made out of small mistakes that allow you to make adjustments to your trading along the way.

Slide 4:

Keep a trading journal to record all your trades: A trading journal is a record of all your trading positions. A well written trading journal will keep track of at least: all your trading positions, the profit and loss percentage, the pips loss or profit, the time and date of the trade, the entry, exit, stop loss, and take profit parameters. A trading journal will allow you to go back and analyze the trading strategies that are producing the best results and the ones that are performing poorly. I always record my trades so that I can analyze them by the end of the week and find ways to improve my trading strategies and systems. Last but not least, having a trading journal will help you to spot your weaknesses as a trader and find the best ways to improve them. A successful trader never stops to learn, and never stops to improve his/her trading skills.

Slide 5:

Trading losses don’t create losers (it’s actually the opposite): It is a false belief that only unprofitable traders have losing trades. The best traders are the ones who learn from their mistakes and don’t let their emotions control their trading. The best way to never lose your shit is to use strict money and risk management and always plan your trades. Foreign currency exchange trading can become very easy once you have learned how to manage your risk and have developed an excellent understanding of the markets. I look forward to writing more useful articles to help you become a better Forex trader. Best regards, Jay Molina Pro Forex Trader & Educator Get a FREE copy of our $2,000 Forex trading course, the Smart Trader Pro, Click here now to get yours!