Achieving Success Trader

Achieving Success

If you have read the other information we have provided on this site you will understand that - Forex trading is simple to learn, and anyone can acquire the skills to trade successfully.
So, the obvious question you may ask is why do 95% of traders lose money?
Many traders lose because they have poor methods, however many have good methods but still lose. The reason for this is - they lack the correct mindset to succeed.
If you want to win at Forex trading you need the right knowledge but you also need to have the right mindset, if you don’t you will lose.
Here we will take a look at how to adopt the correct mindset the millionaire traders have and you need too. If you can acquire them, you are on the way to achieving currency trading success.

1. Desire and Passion

If you want success in anything in life - including forex trading, then you must desire success. If you have  desire, then you’ll do what’s required to succeed. If you look at any of the legendary traders, they all had desire - and they loved what they did with a passion.
Currency trading success requires effort, as the rewards are immense - if you have the desire to succeed, you will acknowledge this and put in the required effort to succeed and make no mistake – the rewards for your effort can be life changing.
So if you have the desire and passion to succeed then chances are you will. Now lets look at how to channel this desire and passion, to become a successful Forex Trader.

2. Work Smart Not Hard

If you have read the Forex Education section – you will have read about “the turtles” - a group of people who had never traded before but learnt to do so in 14 days and went on to make millions.
They did this by working smart, NOT hard - and there is a big difference.
In many jobs you get paid for the effort you put in. When you trade FOREX you earn your reward simply for being right.
When you learn currency trading focus on working smart and acquiring the right knowledge and ignore all the Forex Myths which cause the bulk of traders to lose.
If you work smart, you can learn to trade in just a few weeks and in under an hour a day, you could soon be piling up big consistent profits.
The key to trading success is to have confidence in what you are doing - this leads to discipline and ultimate trading success. Let’s look at this in more detail, as most traders never acquire these traits and lose.

3. Confidence

You hear traders talk a lot about discipline being a key to success in currency trading - but you don’t hear them talk so much about confidence. However, confidence is a vital ingredient when implementing any successful forex trading strategy.
We are involved in Forex Education - we can give you the tools you need to be successful – BUT you need to learn them and have confidence in them YOURSELF.
To have confidence, you need to understand exactly how and why a forex trading strategy works and will continue to work.
This is essential when you hit a losing streak (all traders have them even the world’s best traders, so you need to be prepared for them) you need to have the confidence to stick with your forex trading system and trade it with discipline through losing periods, to ultimate long term trading success.
If you have confidence, you can acquire the key trait all traders need:

4. Discipline

Discipline is the key to forex trading success.
If you don’t trade your method with discipline – you don’t have a method at all!
It’s not as easy to trade in a disciplined fashion as many people believe, but if you take the time and trouble to learn a method and have confidence in it, then you will be able to trade in a disciplined fashion.
If you trade with discipline, you will be doing what 90% of traders don’t do and you will have a trading edge.
Discipline comes from all the points we have discussed earlier:
Desire, knowledge and confidence which give you the inner belief to follow your trading method and execute it in the correct manner for long term trading success.

Success From Within

People like ourselves can help you achieve currency trading success, by giving you the tools however, the ultimate person who will determine how much money you will make is you!
Fact: Anyone can learn forex trading and anyone can become a successful trader.
Forex trading is a challenge, its exciting, it’s fun and can offer you an income that other people only dream about so, Are you ready for a challenge and do you have the desire to succeed?
If so, welcome to the world’s most exciting business opportunity!

Introduction to Forex

網上交易 - 潛力無限

Fear of losing - Greed leads to your loss

Fear of losing - Greed leads to your loss

The trading psychology plays an important role on the markets. This is our emotions who dictate our decisions and we are therefore a good or a bad trader. To be a good trader, it’s not enough to feel the market, you must also know how to let your profit run and cut your losses. It sounds easy to say but emotional control is often more difficult than you think. All the stakeholders are subject to their emotions, including two which seem to be at the bottom of each decision: fear and greed. Each individual behavior is unique but a human cannot escape his emotions. It can however learn to control them.

 Fear of losing

Everyone is in fact afraid of losing, even if everyone reacts differently to each situation. That's why for most people it’s hard time to cut their positions when they are losing even if their trading strategy was predetermined in advance. It is often said "it will get back" or "we will see what happen" and it is often the best way to lose a lot more! For me, the main reason of the ruin of some individuals who have failed to be disciplined enough to follow their trading plan. It is better sometimes to cut off your hand rather than your arm...

Learn to cut its losses is difficult but we must not forget that your capital is your working tool. Without capital, you can do nothing. This is why we must preserve it. It is therefore advisable to risk a preset percentage of its capital on each transaction. This percentage may be for example of 1%. This seems little, but when you are making several trades, your overall risk can grow very quickly. Do not risk all your capital on one trade allows you can to cut your losses more easily. There is a big difference between losing 50% of its capital and lose 1%. You can easily understand that taking the loss on a 50% risk of our capital is not an easy decision. In doing so, we come to say I'll see what happens' or the famous "it will come back’. If you want to be a competent trader, banish such words of your language!

The solution is to risk a small percentage of your portfolio on each trade and then, when your risk is determined, to establish your trading strategy. This must go with a stop loss. We cannot emphasize enough that a stop loss is needed for each operation! The stop loss helps you avoid you to be stuck on your screen all day to monitor your trade, and therefore you remove some of the stress-related to the trading. But the stop-loss can also determine a point at which you estimate that your scenario will not happen. The level of stop loss must be determined before the operation and shall in no case be modified during the trade, unless if the trade goes in your side and in this case, we can function with a moving stop. Move your stop on a losing trade is being confronted with your emotions and thus to the fear of losing. To ensure that your loss will not be materialized because of the close of your trade, the fear will make you change your stop loss such kind that it will never be reached by the price and you will say 'this will come back one day’. Then the fear of losing lead you and you're doomed to run this way. Make no mistake, the price do not always come back.

Greed leads to your loss

Fear is not the only factor that guides your decisions, there is also greed. Everyone thinks it is possible to very quickly gain a lot of money especially on the Forex due to the high leverage available. What people forget is that the high leverage also means high risk. Certainly, on a fluke, this can work, your trade goes in the right direction, you are rich but not so sure. Let me explain.

First, people who are using a too high leverage do not often use stop loss because their account is too small to put a stop properly. Trade with 1 000 000 $ on the EUR/USD ($ 100 per pip) and an account at $ 1000 for example and your margin capacity is only of 10 pips. (And I do not take into consideration the spread.) Hard to set a stop loss! If the trade goes in the wrong side, most often all your capital is loss. The risk is enormous. But that's not all, because if the trade goes on the right way your emotions will often play with you. Let’s stay with our former example. If the EUR/USD goes 3 pips in your side, you close your trade and then you win $ 300. Great you say, +30% in one trade! But if we reflect a little, your risk was losing $ 1,000 to win $ 300 ($ 500 going to be nice). From a viewpoint of mathematical expectation, does the game worth the candle. ?

It's hard to say but I say it for you: NO!

However, that’s what we see regularly on the Forex. Trade with a too high risk will always make you act as a stupid person. I'm not afraid of the word, if your view on the Forex is to act like that, then go to the casino! Trading requires discipline (follow a structured trading plan, money management…).

Let your profits run and cut your losses

I can reassure you anyway, it is possible to earn money on Forex and if you're good, it can be done fairly quickly. The important thing is that as I said before know how to run your profits and cut your losses. Cut your losses, I've already talked to (stop loss, money management.). To run your profits, it must be taken as, do not cut your position as far as your target is not reached or until your stop loss was executed (if you trade trends and then you trade with moving stops). Too many traders take their profits too quickly once he sees the operation is in profit. Follow your trading plan that was established before and most of all do not hesitate to strengthen your position if the trade goes in the right direction. For example, when you’re moving your stop, you can open a new position. So if the trend continues, you can win a lot. If you trade with targets, take a ratio risk / return that is interesting.

All this will make your winning positions largely compensate your losing positions. It is very possible to get rich on Forex by doing more losing trades than winning ones.

外汇交易主要时段

北京时间	主要汇市开市时间分布					行情特点	详细描述	运动方向	风险与收益
5	惠 灵 顿					行情调整 时段	主流货币200-400点，二流货币250点以下。 此时段主要是亚洲和澳洲市场的活动时间，由于整体经济实力较弱，加之主要炒作欧洲和美洲货币，所以对整个市场的推动力较小。一般震荡幅度在30点以内，且无明显方向；行情多为调整和回调行情，一般与当天方向走势相反，如：若当天走势上涨，则该时段多为小幅震荡下跌。	没有方向，小幅振荡居多，多为对前一交易日最后一波行情的回调，与当天大势方向一般相悖。	风险低 收益低 不适合交易
6
7		悉 尼
8			东 京
10				香港
12
13						行情酝酿 时段	主流货币300-500点，二流货币300点以下。 此时段为欧洲开市前夕，伴随着一些对欧洲货币有影响力的数据公布，市场交易及资金量逐渐增加。此时段是黎明前的黑夜，市场和图形开始酝酿，是每天最好的也是第一次进场时段。	方向一般与当天大势相反，或做出技术信号，支持大家交易。	风险中 收益低 适合建仓
14：00	法兰克福
14：30
15						行情波动时段	主流货币300-800点，二流货币250-400点。 欧洲开始交易，资金量和关注程度增加，这一时段才是每天外汇市场行情的真正开始。在上时段建仓的投资者此时段可尽获收益了，没有及时交易的朋友，则最好在已经开始的部分行情后不要追势，等到回调时再进入。	在整体有趋势时顺大方向，在整体为盘整时一般与上一交易日走势方向相反。	风险中 收益高 不适合临时建仓
16
16:30		伦敦（夏令时）
17：30			伦敦（冬令时）
18
19						第一次行情波动的调整	200-400点 为欧洲的中午休息和美洲市场的清晨，交易平淡，多为回调上一波行情，是入场的第二次机会。	与上时段方向相反，一般与大势无关。	风险低 收益低 适合建仓
20
20:20				纽约（夏令时）
21						行情主要波动时段	主流货币400-1000点，二流货币300-600点。 这段时间是美洲市场和欧洲市场同时交易的时段，按照资金和关注性来说是最大的时候，行情波动自然也是最大，一般是大势震荡的真正时刻。	符合大势方向。	风险高 收益高 不适合临时建仓
21：20					纽 约（冬令时）
23
24(0)
0:30						行情调整或消息时段	有重大消息时1000点以上其余时间500点以内。 此时为美国的下午盘，一般已经走出了较大的行情，这段时间多为对前面行情的技术调整。不过有些很重要的美国数据会在这个时段公布，所以偶尔会出现瞬间大幅波动的情形，建议有重要数据时应及时在此刻平仓出来，避免风险。	方向不确定，多为与前一时段方向相反。	风险低/高 收益低 不适合交易
1：30
2
3
4
冬令时主要市场交易时间（北京时间11--3月份）：悉尼：06：00--14：00 ；东京：08：00--14：30；香港：09：00--16：00； 法兰克福：15：00--22：00； 伦敦：17：30--1：30； 纽约：21：20--04：00。 每年四月的第一个周一是为夏令时间的开始，每年十月的最后一个周一是为冬令时时间的开始。 灰色部分（北京时间15：00—24：00）为中国人外汇交易的黄金时间，18：00—19：00时间为欧洲午休时，也是等待美国市场开始的前夕。 一般而言，大家可在下午15-18点进场下单，设好止损、止赢单（看具体的技术图形，如背离和阻力位等）。也不用一直盯盘，17：00、17：30-18：00、20：15-21：00（冬零时加1小时）看看就可以了，其后每半个小时看一次即可；赶不上下午交易的投资者就要等到晚上再交易了，最好还是等到20：30以后，这一般是第二次行情开始的时间，也就是等到欧洲中午休息完了、美洲开市为止；要是有重要数据公布则要十分小心，此时由于波动巨大会常出现骗线的情况，不要盲目追势就可有效避免骗线。

概率思维对于外汇交易的重要性

概率思维对于外汇交易的重要性

  纵观世界，没有任何的事情是遵循者一定的规律进行的，外汇市场亦是如此，即便是潜心研究多少年，都无法总结出外汇市场所遵循的规律，譬如世界闻名的投资大 师江恩在某杂志的监督下在交易中也只能达到92%的胜率，这已是让投资者只能仰望，而不可触及。因此投资者需要使用概率思维来对待外汇交易。

  任何事情的发生都是具有概率性的，或大或小，没有绝对的，刻意追求事情的完整性只能耗时又费力。在外汇市场中的许多人通过真实交易和模拟交易的方法不断的 捕获正确的趋势，然而终究还是有成就者寥寥无几。在这里想要表达的是作为一般的投资者不要花费太多的精力去研究如何在每次交易中都能够盈利，而是要学会概率思维，即在10次交易中有7此成功即是投资高手了。

  曾经遇到一位非常勤奋的客户，对外汇投资交易非常的痴迷，他想要在外汇走势中探索其规律，于是经过潜心研究，学习了很多外汇交易技术，并且都了如指掌。满 以为把这些交易技术综合起来就可以掌握汇率的未来趋势，然而每次对于汇率进行研究判断时总是有几种技术是相背离的，于是经过验证，他把不准确的技术放弃， 从而在进行分析，还是会出现偏差，就这样，研究了很长时间，始终没有找出如何能精确的判断汇率的走势，其实这位客户在交易时的胜算已经超过七成了，算得上 是投资大师了，然而就是这种过于精益求精的态度让其迷失了方向，整日郁郁寡欢。这种人就是缺少了概率思维。如果能使用概率思维看待事情，在交易中能够赚取 相当可观的利润了。

  拥有概率思维同样对于交易心态也具有很大的帮助，他能让投资者在资金产生损失的情况下安慰自己，而不是导致自暴自弃从而引发操作过频或者判断失误。其实外 汇交易是一件并不复杂的事情，只不过世人注入了太多的情感在其中，或贪心，或压力，或自傲等等，导致原本正常的交易变得扭曲，从而判断无法按照概率进行， 出现了亏损的状况。因此投资者在今后的交易中不仅仅要赚钱，还要锤炼心态。从而让自己能够长久屹立于外汇交易当中。

Trading psychology

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