A Revista Cadernos de Cultura e Ciência é de caráter nacional e multidisciplinar, cadastrada com o ISSN 1980-5861.

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Some Required Steps to Achieve Forex Trading Goals

por Kandi Olsen (2019-08-13)


Some Required Steps to Achieve Forex Trading Goals

Focus on the Process, Not on Results: In trading, you have to pay more attention to the process - like what strategy is used, Money setup and Risk Management - rather than focusing on the results as expected.
Usually, being too focused on the end result of trading tends to bring a variety of losses. Most traders open a lot of trading positions or overtrading. In fact, this attitude is precisely what quickly leads you to loss.
Conversely, enjoying every process during trading can help you get consistent profits. This is because you are also involved in the process; do evaluations, design improved trading setups, find various ways to analyze the market, and so on.
Basically, many traders are more tempted to pay attention to the amount of profit, rather than how the best strategy will be applied. So it is not surprising if in the end many traders are trapped in a psychological trap, because they prioritize emotions for the achievement of the coveted trading goals.

Stay on the Defensive: This second point emphasizes the importance of maintaining your capital during trading. Indeed, getting a profit is necessary, but maintaining a curso forex balance is the main key.
There is no need to worry about the size of the target that cannot be achieved because protecting capital is far more important than just being able to generate profits. Conversely, if you force trading to meet the monthly profit target, then do not tear if later the funds run out do not remain.
To prevent the failure of the profit target to repeat again, try to limit the number of trades every month. In generating profits, the most important thing is not how much trading you do, but how well the analysis and strategies are applied.
In addition, determining the risk tolerance limit for the reference Risk Reward Ratio every month is another alternative that you can apply. By holding on to the Risk-Reward Ratio, you can estimate how much loss and profit you can receive. Of course, the two keys to achieving the monthly target above are applied in a disciplined and consistent manner.

Trade Gradually: Some traders may be "unwilling" to practice trading first. In fact, practicing forex trading on a demo account is very important and useful. Besides being able to know the condition of price movements in real time, you can also try trading without worrying about losing capital. Enough to register a demo account at a forex broker, then you will receive capital in the form of virtual funds that can be used during practicing.

The Most Important Thing In Achieving Forex Trading Goals

In determining forex trading goals, especially for those of you who are beginners, try setting goals that are not too grandiose, but you are sure and ready to get them. Why target the "wow" trading goal, but all of your trading activities are dominated by emotions. Conversely, by focusing on the process, not overtrading just for the sake of achieving the target, and being patient in every stage of trading is the ideal step for novice traders to achieve forex trading goals. However, keep in mind that there are two things that need to be considered properly: consistency and discipline.

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ISSN: 1980-5861