I am doing extensive research and practice before I will open a trade position in my live account and in the process I have come to know some interesting facts about Forex trader's traits and how one can get successful by sheer appliance of some common principles which are applicable to every Forex trader.
GOOD TRADER TAKES RISK, BETTER TRADER MANAGES RISK, BEST TRADER AVOIDS RISK
So friends, my first preference is to avoid big risk as I want to be a best trader.
We all know every traders should follow following Golden rules.
1. One should, be Goal-oriented.
2. One should know Thyself.
3. One should follow habit of Extensive Reading.
4. Cut Losses and Let the profit Run.
5. Risk Management.
6. Be Adaptive.
I think everybody have come across above rules at some moment but less people follow these rules so success ratio in Forex Market is just around 5-8 percent. Here new thing I am going to share is entry point in trade and it is for those who have decided no matter whatever happens I will be successful in my Forex Trading Career. Before that I want to say if we take Forex Trading as profession and take self training in terms of practice in Demo account I believe, an…