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A Trader Word of Wisdom - 4
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- Written by Sywa Sywa
- Published: 01 July 2020 01 July 2020
- Created: 01 July 2020 01 July 2020
- Last Updated: 08 September 2021 08 September 2021
- Hits: 470 470
LESS LOSS EQUALS MORE PROFIT !
A Trader Word of Wisdom - 3
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- Written by Sywa Sywa
- Published: 01 July 2020 01 July 2020
- Created: 01 July 2020 01 July 2020
- Last Updated: 08 September 2021 08 September 2021
- Hits: 498 498
Before making any Trade remember to check your Risk
Forex Market is a Free for All Arena and you don't have any control over Mr. Market
The Only thing You Can Control is your Stop Loss
A Trader Word of Wisdom - 1
- Details
- Written by Sywa Sywa
- Published: 01 July 2020 01 July 2020
- Created: 01 July 2020 01 July 2020
- Last Updated: 08 September 2021 08 September 2021
- Hits: 494 494
The Hard thing to do as a Trader is to controlling the two emotions: Fear and Greed
The Hardest thing to do as a Trader is NOT TO TRADE !!
A Trader Word of Wisdom - 2
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- Written by Sywa Sywa
- Published: 01 July 2020 01 July 2020
- Created: 01 July 2020 01 July 2020
- Last Updated: 08 September 2021 08 September 2021
- Hits: 517 517
I DON'T NEED TO BE CORRECT EVERY TIME
I JUST NEED TO MAKE MONEY !
Do not trade what You Dont Understand
- Details
- Written by Sywa Sywa
- Published: 05 September 2019 05 September 2019
- Created: 05 September 2019 05 September 2019
- Last Updated: 08 September 2021 08 September 2021
- Hits: 555 555
Years earlier when I started to Trading Forex, as usual I open MetaTrader trading platform and open a lot of chart with different Pair: XAU/USD, EUR/USD, GBP/USD, GBP/JPY, etc. Even the exotic pair like XAU/ZAR or USD/MXN. I monitor every pair and look for the opportunity to jump into every trade that possible.
Little that I know that time, to monitor one pair is already quite exhausting. Aside from doing technical analysis like drawing support and resistance line. I also have to follow the news related to this pair for fundamental analysis. News for Major pairs like EUR/USD, GBP/USD are rather easy to find, because 80% of people are trading this pair every day !. But news for exotic pair for ZAR or MXN is hard to find.
Trading currency pair with an unknown situation is fatal, Fear can grow easily on the trader's mind which will lead to doubt. It is Better to only focus on 3 or 4 Major pairs where news is easy to find.
The Key is FOCUS: It is better to trade one pair but Winning rather than trading multiple pair but Losing