1-Close stops.2-Enter only at the point of least risk.3-Study what the market pattern is telling you.4-Learn the habits of the traders who know what they are doing.5-Prepare before you sit down to trade.You have to understand that it does not matter what you think the market will do, it will not go anywhere unless there is an imbalance between the buyers and the sellers. One side needs to be winning for the market to trend.The other thing is that you can enter the market at anytime you get a signal that is valid. These signals appear 5 or 10 times a day.Novices never get to learn that the market is easy because they rush in without studying the market flow. Many just listen to brokers and they do not have on line data to see what the market is doing.You have to have the facilities of the professional trader to call yourself one. Most of all you have to act like one.The biggest common fault of losers is that they take a position and will not get out of it when the writing is on the wall that they were wrong. You will always know when you were right and you will always know that if you took a trade and it didn't do what you thought it would you are nowwrong. If it look like it is not…
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SpecialFX avatar
SpecialFX 23 Нояб.

Mado, try to include a few images/charts in your future articles, because that way you could have more "quality" points :) Some good advice in this article though, especially the bit about traders not closing their losing positions, that is a big problem inexperienced traders face. Letting losses run and then quickly closing their profitable positions is a recipe for disaster.

doctortyby avatar
doctortyby 25 Нояб.

By close stops, what range of pips do you mean?? Over the medium term and long term close stops are different on the spread of the price over the price action chart. Over the short term, intraday trading and scalping, close stops will take you out because of the noise in the markets.

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MEGA BUY MONDAY  5 december 2011 (ON USDJPY AND GBPJPY) BOJ will make a intervention their minister told that this action will hapen veryy soonFriday, the Statistical Office of Employment in the U.S. announced that in March there was an increase in the number of jobs in non-agricultural sector with 162,000, however, the unemployment rate remained at 9.7%. Although the number was below forecasts (which were 184 000), it seems to signify a return to creating jobs in the U.S. economy still being healing.Among the positive effectsIn almost all industrial sectors has been an increase in employment. Notable sectors in this regard is the construction (which grew by 15,000 jobs), the production (which employed 17,000 employees), and temporary employment (which was an increase of 40,000) . This figure is notable especially because it confirms that employers have sought a revival of activity.Among the negative effectsIn March, long-term unemployed (over 6 months) increased by 414,000 (to 6.5 million). Overall, long-term unemployment affects 41% of unemployed people seeking jobs, a figure that illustrates how hard it back into the labor market.Market reactionIncreasing the number of employees…
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ritesh avatar
ritesh 10 Дек.

Nice article, keep more coming +1

FX_Swingtrader avatar
FX_Swingtrader 11 Дек.

Hmm, think this was not the best idea, nonetheless well written article.

doctortyby avatar
doctortyby 11 Дек.

the intervention didn't happen... just because we expected for it to happen at that moment. Mult Noroc +1

WallStreet avatar
WallStreet 11 Дек.

good information here.nice work.keep good.good luck in december!

EyeOfRA avatar
EyeOfRA 13 Дек.

Informative article. Keep it up+1

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