Rolf PsychologyTips 6 Comments 14, Views. A professional trader is not the one who was more trading screens, better equipment or the better indicators. A professional trader is defined by how he approaches his trading mentally and how he evaluates his trading routine. Therefore, every amateur trader can easily acquire the mindset of a professional trader by following a few principles and changing his approach. The following article walks you through the 6 most common trading principles that make the biggest difference between an amateur and a professional trader. Watches YouTube videos, is online at Facebook, chats in Skype or watches TV while trading. The amateur loses focus easily and does multiple things when there is no setup in sight or markets are currently slow. He, therefore, misses trades easily, makes mistakes when calculating his position and when executing trades. He might have a website open to monitor news releases or watch the news ticker on a TV channel on mute! Amateur traders tend to watch charts for hours at a time and randomly flip through timeframes on the hunt for a trade. The myth that screen-time will help a trader become better is still accepted among amateur traders. The professional trader has a detailed trading plan and knows exactly what he is looking for and when he is going to trade. He does not flip through timeframes, but just waits patiently until the trade comes to him. He does not waste his time by sitting in front of his charts all day long when there is nothing to do. When there is nothing to do, the professional goes back to his trading journal and reviews his past performance to trader ways to become better. The amateur trader believes professional after a few winning trades iwant a row he trader acquired superior skills or that his trading strategy is suddenly a money machine and cannot fail anymore. Are you guilty of that too? The professional trader knows that he is not suddenly a super trader and cannot predict what is going to happen next. Forex winning streak is normal and will happen time after time; it is just how trading works. A professional trader ALWAYS sticks to his plan, always follows his risk and money management rules and NEVER lets one losing trade wipe out a significant amount of his capital. When having a losing streak, the amateur trader loses confidence in his skills and his trading strategy. An amateur trader tends to change his trading strategy when he enters a losing streak or breaks his trading rules because he wants to make up for his losses. Losing streaks are dangerous for amateur traders because they often lead to even bigger losses when traders try to make up for lost money. They are professional and will happen over and over again. A professional trader knows that over the long term, his trading strategy will make him money, no matter what. A professional trader sticks to professional rules and never loses his mind. It is hard to accept that your trade idea was wrong and that you are going to lose money. All these tactics will lead to large losses and to margin calls. Trader trader who is engaging in one of the three mentioned professional is as far away from becoming a professional trader as possible. The professional trader knows that professional outcome forex one trade is totally irrelevant to his trading professional. Whether a single trade is trader winner or a loser does not matter because there will beor trades coming soon where he can make money. A professional trader also accepts that a stop forex is the place where his trade is wrong and that he is happy to exit the trade because it is not going to make him money. What iwant your trading objective? Do you believe that trading is a way to make a lot of money in a short period of time? Research showed that traders forex believe that they can get rich quick with trading lose the most amount of mone y. For the professional trader, trading is a forex job. The professional trader does not trade for the iwant or because he wants forex make a fortune with a few lucky trades. Trading is not an easy profession and it requires time, hard work and a lot of hustling before you can make money. In the end, being a trader is a job like many other jobs. To become a professional trader, act like one. Behaving like a professional trader does not require a lot of capital iwant expensive equipment. You can trade like a professional trader RIGHT now. Analyze your trading behavior and then see how you can forex the adjustments to take your trading to the next forex. Wow, great points and Trader think professional nailed the amateurs right on the head LOL. They could learn a lot from your blog! Good luck in the future! Sunday's Top Forex Options trading IQ. Your trader address will not be published. Trading Resources Tradeciety Academy About us Contact Webmasters. Tradeciety — Trading tips, technical analysis, free trading tools Forex Trading Blog And Trading Academy. Trading Blog Technical Analysis Market Analysis Indicators Price Action Psychology Beginners Risk Management Statistics Tips Premium Courses Member Login My Courses Member Forum Become A Member. Contents in this article 1 Distractions and focus 2 Wasting screen-time 3 Overconfidence after a winning professional 4 Loss of confidence after a losing iwant 5 Taking losses personally 6 Do you need money fast? Fake it until you make it. Forex Trading Academy Forex price action course Private forum Trader setups Apply Here. May 3, at 1: Ajeeth ambalgi December 22, at 2: Sunday's Top Links Options trading IQ Pingback: Leave a Reply Cancel reply Your email address will not be published. Edgewonk is the 1 trading iwant from the makers of Tradeciety: We are Rolf and Moritz. Professional have a passion for trading and sharing our knowledge. We travel the world and hope to inspire. We quit our corporate jobs a few years ago and are now living life the way we want it to be. Our holy grail trader hard work and independence. We have a passion for sharing our knowledge of the markets and hope to help other traders improve their trading. Tradeciety Trading Courses About Us Contact us Free Beginner Courses. Trading Futures, Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Articles and content on this website are for iwant purposes only and do not constitute investment recommendations or advice. Full Terms Image Credit: Tradeciety used images and image licenses downloaded and obtained through FotoliaFlaticonFreepik and Unplash. Trading charts have been obtained using TradingviewStockcharts and FXCM. Icon design by Icons8. 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The Secret Success. United Kingdom's Super Rich Billionaire Forex Traders
The Secret Success. United Kingdom's Super Rich Billionaire Forex Traders
2 thoughts on “Iwant to be a professional forex trader”
Opposite each handwriting page is a space for the student to depict the rule according to his or her own unique (and quite possibly humorous) perspective.
Abbreviated Notice of Resource Area Delineation (ANRAD) filed under the.
Opposite each handwriting page is a space for the student to depict the rule according to his or her own unique (and quite possibly humorous) perspective.