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Success in trading is a relative concept. Some calculate it by the size of the profits earned on transactions for the month, others seek moral satisfaction from trade, and still others see the success of the opportunity to promote their trading ideas to the masses. Be that as it may, many successful traders share similar traits, which we describe next.

Secrets of successful traders

Everyone can learn the basics of analysis on the schedules of financial assets, it is enough to show the desire and desire to do so. Having learned the basics, a novice trader will need to hone skills and improve their trading skills.

However, traders achieve success not only through knowledge and skills, but also through personal qualities. Profit up to one day does not mean that by the end of a month or year of regular trading you will be in the black. Most likely, you will not succeed if you do not possess such qualities as:

    • lack of excitement;

    • self-discipline and willpower;

    • adherence to a given strategy;

    • the speed of thought.

Excitement is the scourge of any trader. If, after a series of unsuccessful transactions that led to a drawdown of the bank, you are eager to immediately recoup, it means that you need to work on your emotions and learn how to tell yourself a stop in time.

Lack of discipline and willpower can manifest itself in the fact that during trading you will be distracted by extraneous things, and sometimes completely, miss the most successful trading hours for useless activities. To develop self-discipline, start with ordinary things – for example, teach yourself to get up every morning at the same time and do exercises, get rid of bad habits, etc. In the future, you can easily distinguish between work and rest time, thereby increasing your own efficiency.

Very many novice traders rush from one trading system to another. One has only to get a few minuses on the chosen strategy, it is immediately rejected and another one is selected. As a result, even more minuses, draining the deposit and disappointment in trading.

It is important to remember the important thing, each strategy requires an individual “lapping” and a deep understanding, and there are no win-win systems. Perhaps the strategy you have taken is not suitable for trading on a particular asset at the current time. Study the market, use a demo account to test the systems – it’s better to spend time and sort out “on the coast” than drown your deposit in an unfamiliar ocean of real trading.

Another quality of successful traders that will need to be developed in oneself is the speed of thought. Looking at the chart for hours and wondering whether to open a trade or not, you will be in a losing position. During the trading you are required to act.

Having opened a trading terminal and selecting an asset, you should already have an idea about the behavior of the chart for the next few hours. If not, try another tool. Ideally, three seconds are enough to make a decision on a deal.

 

successful trader secrets

 

Professionals do not complicate and think themselves

Many traders sin by “putting” a huge number of indicators on the chart, like on a New Year tree. They think that this will help them to receive unmistakable signals, but the final results leave much to be desired. Those who succeed in the field of technical analysis use no more than two indicators at the same time, and some do work with a clean schedule, and at the same time conclude a huge number of profitable transactions.

Surely you are familiar with the phrase: “All ingenious is simple.” It is directly related to trading. Most professionals use simple trading strategies. The main thing a trader should see when looking at a chart is the price. First of all, you need to learn to follow the history of price changes, volumes, and use indicators only as additional evidence for making deals.

And if you already mentioned the word signals in one of the previous paragraphs – you should write about this phenomenon in trading. On the Internet, a huge number of offers of signals from supposedly professional traders. There are both paid and free signals. All you need is to receive signals, press a button in time in the direction you are told and receive easy money.

In reality, not everything is so simple, most often this leads to the fact that a trader who uses someone else’s signals makes losing trades and loses his money. Perhaps good signal services do exist, but still successful traders trade exclusively with their heads and are responsible for their own capital.

Signals are best used as food for thought, especially if they are accompanied by explanations from the person who shares them. Communicating with people with similar interests is generally a useful thing, because you can get valuable knowledge, and take something important for yourself. Therefore, communicate, read analytics from experts, but always rely only on yourself.

There is no fast money in trading

One of the most common mistakes novice traders – is too high expectations. For example, as soon as a beginner starts to get something, transactions close and the bank grows slowly, he immediately wonders how much money he will earn in the near future and what he will spend on them. This adds to the trading of emotions that cause the excitement. The trader ceases to adequately assess the situation and begins to make mistakes.

For successful traders, an increase of 10-15% per month to the bank is already a success. The following setup will help you best to cope with the overestimated expectations: for the month, do not go into the negative. Receiving even a small profit in the calendar period, consider it a victory.

Continuing to develop the theme of money and trading – we will tell a very important thing. No professional trader has the goal to earn as much as possible. Greed is the main enemy of success in trading.

If your life situation is such that at the moment you are considering trading as an opportunity to earn a living in the foreseeable future, we will upset you – with this approach it is better not to even open a deposit. Ideally, you should have finances for life, and you trade for money that you would have been doing for at least another couple of years. Consider trading as a long-term perspective of excellent income, and do not think about how to make money here and now.

How to start trading with a larger bank?

Having learned the basics of trading and having practiced on a demo account, you may want to try your hand at real trading. Even with a small amount, you can start with increased capital on one of the best trading platforms on the Internet.

We are talking about the company Binarium, which has been operating in the financial contracts market since 2012. As a bonus, new customers are paid 100% on their first deposit. If you have a small amount to start a trading activity, the company will double it, opening for you more opportunities in trading.

Over 50 assets of different groups are represented on the trading platform: currencies, commodities, cryptocurrency. The terminal operates 24/7 – you can trade at any convenient time. For the analysis of the schedule there are many tools, including all the necessary technical indicators.

Withdrawal takes up to three days, while the minimum amount to be paid does not exceed 300 rubles or $ 5. Technical support works in two languages: Russian and English. You can contact us for questions regarding the operation of the trading platform via chat on the website, email, Skype or by calling customer support.

Risks and trading

For successful traders, such a concept as risk management or money management is not alien. In simple words – this is the part of the deposit, which you are willing to risk for the conclusion of a single transaction. Due to this, you avoid the danger of losing the entire deposit in a short period of time, even if you are caught up with a black line and you have concluded several losing trades in a row.

The optimal amount of investment should not exceed 2%. That is, having a deposit of $ 1,000, the size of a single transaction will not exceed $ 20. At the same time, if you are a supporter of opening several transactions at the same time, the total amount of transactions should not be higher than 5% of the deposit. Open 5 deals for 10 dollars, wait for their outcome, and only then open new ones.

But not a single trading live professionals, many have the main work, while the trade – this is an additional business that brings income and pleasure. Therefore, you should not rush headlong into this difficult world, resign and devote all your time to analyzing charts and opening deals. Start trading, understand what’s what, make a few positive months in a row, and then decide for yourself what trading is for you. We wish you success!

TRADE OPTIONS

“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”

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