Self coaching for Forex trader Part 2

[Newswire]

Self coaching for Forex trader Part 2

In a second forex education webinar on the topic of “Self-coaching”, we will continue talking about learning curve.

This time we will focus on specific rituals and routines of successful trader. We will discuss “negativity bias” and other pre-default features of our brain, which create obstacles on a way to trading success. We will also go through useful exercise that can help you be more disciplined and focused.

(Back to tutorial list)

[Rickfap]

Thank you. sir

[Dikklo]

I am an newbie in forex trading. I think I learn many gift neccessary for forex trading here. Now I am to your liking.

[jonathan44]

The foreign argument spread is the most liquid financial market in the world. Traders insert governments and central banks, flyer banks, subsidiary institutional investors and financial institutions, currency speculators, supplementary personal ad corporations, and individuals. According to the 2010 Triennial Central Bank Survey, coordinated by the Bank for International Settlements, average daily turnover was $3.98 trillion in April 2010 (compared to $1.7 trillion in 1998). Of this $3.98 trillion, $1.5 trillion was spot transactions and $2.5 trillion was traded in outright forwards, swaps, and option derivatives.

[wong]

Thanks

[b]

Forex refers to the foreign dispute shout from the rooftops, and the buying and selling of currencies. The protester foreign row insist began forming during the 1970s. This followed three decades of dealing out restrictions almost foreign dispute transactions below the Bretton Woods system of monetary meting out, which set out the rules for advertisement and financial relatives accompanied by the world's major industrial states after World War II. Countries gradually switched to free quarrel rates from the previous disagreement rate regime, which remained unchangeable per the Bretton Woods system.

[Entomip]

thank you

[rolar]

Thanks for this one.

[Nelly]

This method is very nice and works well.

[pinky]

That is good.

[suki]

Must know 4 things as follows

        How do we make profits in the Forex market? The word Forex is abbreviated from Foreign Exchange. It is an international exchange market between brokers without holidays. Speculation by matching money, such as EURUSD means the euro against the dollar. We can speculate on buying or selling the said currency pair. If we click Buy if it causes the bull market to occur. We have the opportunity to make a profit in the Buy order. On the other hand, if the euro against the dollar is weaker, resulting in a bear market. We also have a chance to lose orders in Buy etc.

As for forex trading, aside from the EURUSD currency pairs, there are also many other currency pairs. The most popular currencies are USD EUR GBP JPY CHF etc. The factors that drive the Forex market to rise and fall There are 5 main factors which are

    Interest rates, such as the announcement of the central bank interest rate
    Economic conditions Such as the announcement of the country's GDP
    Politics, countries that do not have strong political conflicts inevitably stabilize their currency.
    Trade investment Which country is an important source of investment would mean good money flow within the country. The economy is also good.
    Acquisitions of large businesses Acquisitions in any country depend on the currency of that country. Make short Affect the branding of the currency

 

        How much time is given to the Forex market? Trading in the Forex market is profitable and sustainable. It is very important to have education together with practice. Whether trading through technical analysis Or fundamental factor analysis Therefore, we must have time to share this practice to become skilled. Because this world has nothing for free And I can assure you, do not look for the Holy Grail in this market because it is absolutely not true. Initially, I would like to divide the basic content that should be filled first:

    Tools or trading platforms. The most popular forex trading program is MetaTrader 4. Study the various functions. Being agile will increase your chances of trading, especially technical analysis.
    Using basic indicators Is like a tool that helps us make profits in the Forex market. Inevitably is like choosing the right tool for the job type

    Fundamental analysis In short, Read news that have an impact on the currency Easy to understand Through the Forex Factory news schedule, if understood, it is like we know the wind direction before leaving the ship.

 

        Funds and Allocations Although the Forex market can start trading with just $ 1 or a demo account, you can try unlimited trading. But ultimately, you have to use a certain amount of funds to trade Because we really hope to use 1 $ to make money I answered that it is very difficult. Especially inexperienced players who lack experience Can finish in a matter of seconds Which is why Port management

When you have been in the market for a while, it will make you know that In addition to the amount of funds, managing Positions in a portfolio is extremely important. To survive I give examples that are popularly taught are The port should not lose more than 5-10% of the portfolio, ie we have $ 1,000 capital each time we trade. When we lose, we should calculate the lot that is played. If the Stop Loss should not exceed 50-100 $, etc., which still have funds left for us to justify. Imagine if there is no such plan. Play with Over Trade. For example, playing Lot when a 1 point move is equal to 100 $ money. Just the graph goes the wrong way. We expect 10 points to clear the port. There is no money left to justify. This I would not call it an investment. But it is gambling in Forex

 

        Dealing with profits and losses Old and new traders Cannot avoid such conditions at all It is another important thing to pay attention to as well as the forex trading system, especially in investment psychology. There are books to be studied seriously. Therefore it is who is able to cope with the psychological consequences that occur with more discipline. Initially, I gave the same weight, regardless of loss or profit, the condition that needs to be cautious is

    In the event that a large profit is generated or orders are closed for multiple profits in a row, this condition gives us the confidence that our own trading system is accurate. May Cause Greed. Increase Lot
    Trade for more profit. Or will not close when the profit reaches the target system etc.
    In the event that a large loss occurs or orders close multiple losses in succession, causing mental instability Or the emotion that needs to be restored by adding more play lot than plans Or the fear of loss until I do not dare to trade because of lack of confidence etc.

 
Therefore, dealing with both of the above Discipline is important. You must strictly adhere to your trading plan. It is better to die than leaving the plan. All of which still does not have to believe me Try to do first You may be able to receive astonishingly better results.

[Gachimuchi]

Major thankies for the post.Really thank you! Really Great.

[Thanole]

Everything is very open with a precise clarification of forex challenges. It was truly informative. Your website is extremely helpful. Thank you for sharing.

[Tonoole]

I like what he said at 15:50.

[Rocco Melissa Nacino]

Fed president Chicago was disappointed. After the US Treasury does not renew the Fed's loan program.

Chicago Federal Reserve Chairman Charles Evans expressed disappointment over US Treasury Secretary Steven Mnuchin. Announced that it will not renew the Fed's loan program to cure the effects of the COVID-19 outbreak.

Mr Evans said: The Fed's program is market sensitive. Amidst the volatile conditions

Mr. Manu Chin said that Fed loan program to mitigate the effects of COVID-19 outbreak of $ 455 billion. Will expire on December 31 and will not be renewed.

Mr Manuchin sent a letter to Fed President Jerome Powell stating that $ 455 billion was allocated to the Treasury under the CARES Act last spring. Much of that money has been allocated to the Fed to fund business lending programs. Non-profit organization And local government The Fed should return unused funds to Congress for further use.

"I urge the Fed to return the unused funds to the Treasury," Mnuchin said in a letter sent to Powell. It refuses to renew the program, which the Fed sees as critical to ensuring credit flows to all sectors of the economy during a 100-year crash.

The Forex market continues to be interesting and there are more red Forex people all the time.