|
| |
 | |
|
|
Currency Trading Information Channel |
 |
|
|
| |
|
| |
|
|
Currency Trading Information Channel |
|
|
|
|
|
6 Critical Factors For Successful TradingSuccess in any profession can be broken down into a number of critical factors. Trading is no different. Does your trading tick all 6 boxes or are there any areas you need to work on: 1. Do you have an edge? Trading futures is a zero sum game - you must have an identifiable edge over the other market participants. Have you identified a high probability pattern that can be exploited time after time? Remember though, the only constant in trading is change - you will have to constantly evolve your trading edge to stay ahead of the crowd. 2. Disciplined Execution. There is no point in identifying an edge if you can't execute the trade. Measure your trading success against your trading plan not the actual outcome of the trade. If you make a loss but you executed your trade exactly according to your plan than pat yourself on the back, don't beat yourself up over it. 3. Money Management. If your risk per trade is too aggressive then you run too high a risk of blowing your account, too conservative and you will not optimize returns from your system. It is essential to establish the maximum expected draw down of any system and set money management rules accordingly. 4. Have a Trading Plan. A trading plan will dictate what you will do in any given situation during the trading day. When the market is open you do not want to have to think - just concentrate on executing your plan. When the market is closed you need to be preparing for the next session to ensure you have a clear plan prepared. 5. Accountability. You are responsible for every trade. Ultimately the decision to put on a trade is yours. If your stop is hit and the market immediately reverses then you are responsible, not the 'big boys' gunning for stops - it happens, move on. If you get huge slippage on your trades then does your trading plan account for it or is your plan unrealistic for the market you are trading? 6. Commitment. Trading is not like a regular job, you don't pick up a pay check at the end of the month even though you did no work and spent the whole month surfing the web and emailing your friends. You must be committed to placing every trade according to your plan, even through the losing periods where every trade seems to end up a loser. Trading seems to throw up extremes of good times and bad times, you must not get over confident during the good times and you must not give up in the bad times - remember it is all part of the plan. You must set aside adequate time every day to compare your actual performance against your trading plan. You must be committed to continuous testing of new ideas and regular monitoring of your existing plan. Research into future ideas is essential - remember the only constant in trading is change. Tim Wreford runs Online Futures Trading, a website that provides information and resources for traders. Tim also provides a free day trading system, the results of which are updated daily on the site.
 MORE RESOURCES updated Wed. August / 10 / 2022Websites close 12,000 accounts encouraging illicit virtual currency trading amid crackdown Global Times Why currency trading involves major risks Nairametrics Why so many Nigerians lose money in currency trading Nairametrics Cuba Increases Official Exchange Rate For U.S. Dollars Cigar Aficionado Sajjid Chinoy: 'The rupee is a better-performing currency against the dollar on a trade-weighted basis' The Indian Express Asian shares mostly decline on global technology downturn WNYT NewsChannel 13 USDINR Rose on Expectations of Larger Interest Rate Hikes from the US Fed Investing.com India GBP/USD Forecast: GBP Gives Up Early Gains Again DailyForex.com USD/CAD: Plenty of Punch and Choppy Results Testing Traders DailyForex.com AUD/USD Forecast: Aussie Pulls Back from Crucial 0.70 Level DailyForex.com U.K. shares higher at close of trade; Investing.com United Kingdom 100 up 0.02% Investing.com India USD/JPY Forecast: USD Pulls Back Slightly Against JPY DailyForex.com USD/ZAR: Consolidation Perhaps Today, Volatility Tomorrow DailyForex.com Typhoon Mulan makes landfall in China Investing.com India What’s really happening with exchange rates? BusinessLine AUD/USD Forecast: Australian Dollar Slams into Resistance DailyForex.com Forex Forecast: Pairs in Focus – EUR/USD, S&P 500 Index DailyForex.com FLEETCOR TECHNOLOGIES INC Management's Discussion and Analysis of Financial Condition and Results of Operations (form 10-Q) Marketscreener.com Nigerians Turn to Crypto Assets as Currency Weakens Voice of America - VOA News USD/TRY Forex Signal: Lira Opens Weekly Trading Low DailyForex.com Colombia has detected $20 bln likely tied to money laundering -official Marketscreener.com Share Market LIVE: Nifty holds above 17500 but in red, Sensex trades flat; Bajaj Finance, NTPC top losers The Financial Express EUR/USD Technical Analysis: Bearish Stability DailyForex.com 10 Best Forex Brokers in 2022: Top 10 FX Trading Platform Reviewed and Ranked ABC Action News Tampa Bay Delhivery share price tanks 9% after losses widen sharply in Q1; should you buy, hold or sell? The Financial Express USD/SGD: Higher Move Consolidates and Could Attract Wagering DailyForex.com Cross Hedging in Trading -Definition, Understanding&Examples DailyForex.com Reference exchange rate down 2 VND on August 10 http://en.vietnamplus.vn/ What Is Forex Trading? Bankrate.com Basics of Forex Trading - Part 1 FX Empire What are the Pros and Cons of Forex Trading? RealtyBizNews Best Forex Trading Platforms: Most Famous Forex Brokers & Traders of 2021 Washington City Paper What is forex trading and how does it work? The European Sting Moscow Limits Foreign-Currency Trading to Shore Up Struggling Ruble The Wall Street Journal 4 Ways COVID Boosted Currency Trading Yonkers Tribune. How to Know Which Currency Pair to Trade Startup.info 10 Best Forex Brokers for August 2022 Business 2 Community Forex (Foreign Exchange) Explained | U.S. News U.S News & World Report Money Foreign currency trading is substantially growing around the world - The Southern Maryland Chronicle Foreign currency trading is substantially growing around the world The Southern Maryland Chronicle The 5 Best Forex Trading Platforms of 2021 D Magazine Changing the Top Global Currency Means Changing the Patterns of Global Trade Carnegie Endowment for International Peace Bank of America Grows its Global Foreign Exchange and Emerging Markets Macro Trading Team Bank of America Newsroom Can You Make Money Trading Forex? Finance Monthly Currency Definition | U.S. News U.S News & World Report Money Best books to learn Forex Trading from scratch Free Press Journal BC: Tips for Success in Forex Trading Punch Newspapers Gold Technical Analysis: Trend is Still Bullish DailyForex.com Forex Trading Hours: Limitless Trading in an Endless Market The Coin Republic Mastering Forex Trading Psychology Finance Magnates Is forex trading a way to make a living? Nairametrics Forex Trading TD Ameritrade Why forex trading is not gambling Nairametrics How to Trade Forex TD Ameritrade Trading Forex vs Futures: Key Differences IG International Currency trading in overdrive with dollar at highest level in two decades (NYSEARCA:UUP) Seeking Alpha Even the Foreign-Exchange Market Is Getting Kind of Crazy The Wall Street Journal The 6 Best Online Forex Trading Classes of 2022 Investopedia CEO Of Cryptocurrency And Forex Trading Platform Charged With Fraudulent Scheme Involving Over $59 Million Department of Justice 4 Reasons Environmentalists Care About Forex Trading Green Prophet
|
