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3 Traits for Success
The other day I was conducting a group interview at one of my off-line businesses. I was addressing about 15 applicants for an office position and going over the three basic character traits that I require. I've talked about these same principles...
Balancing Your 3 Wealth: Material Wealth, Spiritual Wealth & Emotional Wealth
Material Wealth Very often, in our pursuits for material comfort, we neglect our spiritual and emotional well-beings. Who can blame Singaporeans for being so overly obsessed with material wealth? In Singapore, we are socially conditioned to equate...
Hire The Person, Not The Resume
“… [get] the right people on the bus, the right people in the right seats (and the wrong people off the bus) and then [figure] out where to drive it.” - Jim Collins – Good To Great "Hire the best staff you can find, develop them as much as you can,...
How to Stay Positive... Avoid Negative People
Have you noticed how you feel when you're around positive people? You feel uplifted, refreshed and energised. You learn that life is what you make it and that you make your own 'luck'. Consequently the opposite is true when you're unfortunate to be...
Part 2 of 5 - How "Pipe Dreams" Can Become Realities!
CATCH UP WITH YOURSELF Now's the time to evaluate your life and your desires. Go ahead and test yourself - nobody's looking. Try to find out what your inner desires really are. Once you know, you can formulate a plan of action, and then...
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Proper Behavior of a Forex Trader.
The world of Forex trading is a great open land of opportunities
where great profits can be achieved. But in order to obtain
these great profits you must have a proper understanding of how
the forex markets work and behave.
The Forex market is a market of trends, as you can see in any
forex chart where the oscillation of prices during specific
periods of times is more than evident. And this specific
behavior of the market is what brings us to one of the most
important rules of the forex trader behavior:
You must always trade with the trend and never go against the
evident movements of the market. This an important rule many
traders forget on the assumption that they can somehow cheat the
market. But this is not possible, you will always have to check
your indicators and if the market trend is going in the
direction suggested by the indicators you must stick with that.
You must always cut losses. Yes, every trader has losing trades
and you must learn how to deal with that fact of the forex
world. In short don't let losing trades ride too far and on the
contrary, you should let the winning ones ride as long as
possible in order to always
have a positive balance at the end
of the day. The best technique you can use in order to fulfill
this proper winning vs. losing trades positive balance is the
use of Stop Orders. Every trader should trade using stops if he
wants to maintain the proper balance in his trades for the day.
A Stop Order lets you manage and decide how much money you want
to risk losing if the trade you are in results in a bad trade.
So, if you combine this "security" stop with a correct technical
analysis of your indicators you will always be on the winning
side, even if you have a few losing trades.
In short, the proper behavior of a forex trader can be resumed
in two main attitudes: Always follow the trends of the markets
and decide accordingly (sell or buy) and always maintain a
positive balance of your trades using stop orders in order to
cut losses at its maximum.
About the author:
Adrian Pablo is a freelance writer with articles published in a
number of places. Get a free report on Fibonacci Trading and learn
more about the world of trading , visit the website: http://www.1-forex.com
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