The trader beginner has to understand that trading comprehend that, he puts the personal means at certain risk. He can open some profitable transactions, but a small mistake and he can lose literally everything.
The successful Forex trader can have a talent, but also simply a trading experience and just follow easy Forex rules. But both professionals and beginners understand that the risk to lose everything always exists.
Trading success depends on experience and luck of the trader. To trade with profit, it is necessary to follow certain rules and trading strategy. There are some factors which influence trading success:
- The successful trader will focus his attention on losses, and try to calculate a risk ratio to profit. A trader who doesn't have special success, on the contrary, rejoices a win and don't pay attention to defeats. But it is necessary to watch everything - money the trader will be able to earn and to lose.
- Beginners try to copy the strategy of professionals while professionals look for a more suitable trading strategy for themselves.
- An inexperienced trader can miss a set of situations and moments which can bring not bad profit. Only experience acquisition is capable to cope with this problem.
- Those who were less lucky, spend much more time on the simple analysis of the situation in the Forex market and respectively miss a set of profitable moments.
- If the trader isn't able to control the emotions, he will never be able to boast about big earnings on Forex. Therefore, first of all, traders try to learn to control the emotions and later to play on Forex.
- Having lost a certain sum during the trade, every second loser will start buying up literature and to work on a new strategy, but his more successful colleague will analyze a situation, will draw conclusions and will make the correct decision next time.
- Those traders who only began the activity take all events to heart that prevents them from making the correct, weighed decisions. But the skilled traders treat win and loss equal, that allows them to keep impartiality and gravity in any situation.