Philosophy of success

Many traders believe, that it is possible to achieve success in the market, just using «perfect system» in my day to day trading. This is tantamount to the fact that a person without any experience in cooking, would think, that he can become a top-class chef, as soon as it finds the correct recipe.

Don't waste your time and energy, looking for answers, which you cannot find, because «совершенная система» — it's an illusion. Instead of this, trader must concentrate on honing their skills and getting that job done, which provides him with answers. There is no shortcut to success. Analytical skills need to be developed, to succeed at it.

To survive as a trader, let the market follow its own course, since you cannot change his movements.

As the market often defies logic, there is no consistently reliable way to predict market movements, but the market often shows us the way to success. When he moves in a certain way, you can make a profit, if you use the percentage approach in trading.

If you become capable of receiving «noticeable result», then it means, that you know how to effectively find a correspondence between, what can you get (вознаграждение) and what can you lose (risk). Lasting success comes, if you don't lose sight of one small, but an important point: you should set the percentages in your favor.

Each trading system works part of the time, but none works constantly. Many popular systems oscillate between success and failure stages., therefore it is very important to choose the right time. The main difficulty is associated with an attempt to determine the effectiveness of a particular trading system in today's environment.. In their articles, I always warn readers about the dangers of trading on any system without periodically tracking its results.

but, despite the analysis, if you do not control your emotions, they will determine most of your trading decisions, because emotions are opposed to pure reasoning.

When trying to achieve market excellence, most traders focus on material rewards. In this case, they undermine their long-term success. With experience, you will acquire the necessary trading skills — that's why, personal income growth is a by-product of long-term «being in the game».

Adding a few dollars to your account is not as valuable, how to develop learning skills. You should never focus on short-term material gain. — in a few days, the success of one day is forgotten. When you focus on the wrong goal, emotional trading drives your trading decisions. Если это происходит, then you haven't studied yourself well enough, which allows you to repeat the same mistakes.

After receiving a series of losses, quick financial recovery is not always possible and it does not always depend on you. But, вы сами решаете, how to act in a situation that has arisen. Your ability to recover losses does not depend on, will you trade using the same strategy or choose a different system. Your recovery comes from confidence in your trading ability.

Achieving the heights of professional excellence — это постоянно продолжающийся процесс. As you review results every day, there will always be lessons, worth exploring. Errors are part of the game, but with due introspection, you can turn your losses into lessons.

A source: Forex Magazine.

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