12 instructions to be successful in the forex trader ~ theater of dreams

Instructions to 7

Not Trying to Make the Perfect

The successful traders the world has discovered a secret method that makes them as a "monster" who dominate the market. This method is not newly discovered, generally decades, and perhaps, for the traders, this is often referred to as "the holy grail" - a secret market, where the method is believed people will always give benefit. This secret method has been proved by some traders, like the following one.

Nicolas Darvas could make his own accounts from $ 30,000 to U.S. $ 2.25 million in the intervening 18 months! From the years 1962 - 1963, William O'Neil opened the account amounting to U.S. $ 5,000 and then to U.S. $ 200,000! A recorded by Trader Monthly Magazine as one of the 100 world's best traders with an income of U.S. $ 25 million is Dan Zanger. For approximately two years beginning in 1999, he changed his own account from $ 10,000 to U.S. $ 42 million! These secret methods often we are familiar with the term "breakout strategy".

You want these methods to be powerful and magnificent as traders who had to prove the above? You also want to blow up an account? You want to be financially free? You want the benefits continue to flow over the period, either bullish or bearish conditions? We all want that.
Therefore, let us note this fact that was most traders make investment decisions based more on emotion than logic. No matter how many hundred methods they have tried, they still fail, because of lack of discipline and self kotrol. This does not mean that you can use all the trading system with discipline and be successful. In any discipline, a trader with only "breakout strategy" it would be the best trading system in the world, if implemented with discipline.

For years I find the secret formula would produce a profit, was the conclusion, I do not find any single formula that can help in generating profits consistently. Absolute law that applies universally in technical analysis is biased, where the higher the sensitivity level of a tool the analyst, the more errors that occur. Conversely, the more you find the most perfect signal turns the conclusion is close to zero or none.
So the secret of what actually owned a successful trader in the forex world? Why are they still able to generate much profit when in fact there is no formula that really perfect?

The answer turns out to be not only the knowledge of trading itself, but also the notion of personality that makes a trader to interact with the market.
Those who succeed just like us. They also have experienced losses. They do not have the concept of trading the most accurate, most standard formula or the most sophisticated technology ever make a profit. They are successful because they engaged in transactions with true! Since the beginning they knew exactly this. They know how to implement it in totality and what they are doing is reasonable.

If you learn from what is done by successful traders, here you will know that this is not a secret formula (holy grail). Ed Seykota once said the secret of success,

Ed Seykota
"trading rules that I do: 1. Cut losses; 2. Following the win position; 3. Fixed a small stake; 4. Follow the ruleswithout question; 5. Knowing when to break the rules. "

William O'Neil
"The secret to winning in the marketplace modala is not always right all the time."

You must remember this, the purpose in the forex business is to become a winner. You do not have to perform perfectly. This is the secret of being a successful trader, namely how to get rich by not doing perfectly!

Because you will never find a perfect method to be successful in this field, many successful traders recommend to you to be able to accept the mistakes that you do and avoid to want to always be true.
Many successful traders say they are not always right all the time. They do not have the holy grail for purchase at the lowest price or sell at the highest price. One of his conservative trader and had reported accumulated profits have placed over U.S. $ 10 million, Randy MacKay says,

Randy MacKay
"I never try to sell to buy bottom and top. Even if you manage (your position) to take the lowest position, the market might even stop (do not provide adequate opportunities for you) for several years and tie your capital.you would not otherwise take a position before the movement begins. "

Secrets of success (holy grail) is located on yourself! The purpose, style, and the personal combined with a careful design of the trading that has been tested is the determinant of a success. Do not try to do it perfectly.