Three amazing facts that every trader should
Losing is inevitable: The retail traders often pursue a perfect trading system where there will be no loss. But in reality there no such system where you will have only winners. Losing is nothing but a part of the trader's career. If you want to make money then you should take some loss in this industry. Never think that you will make a profit only. You need to accept the loss in this industry just like the winners. Some of you might think how we make money even after having losing trades. The answer remains in your money management plan. If you follow proper money management in every single trade you can easily afford more losing trades but yet remain profitable.
Long term traders are more successful: In the United Kingdom, those who trade with the professional trader Saxo prefer the higher time frame. Compared to scalpers the long term traders are more successful in CFD trading. It's true that if scalp the market then you can easily make a huge amount of money but in the long run you will be the ultimate loser. In order to consider trading as your full-time profession, you need to focus on high-quality trade execution in the higher time frame. At your initial stage, you will be tempted to trade the shorter time frame but patient traders will wait in the sideline. A single high-quality trade in the higher time frame is good enough to give you full month profit. So instead of looking for random trades, try to find good trade setup which has low risk in it. Once every trading parameters are full filled trade market.
News are price driving catalyst: There are some traders who often ignore the importance of news in the forex market. But if you look at the expert traders then you will notice that every single one they do the fundamental analysis before placing any trade. This analysis helps the traders to identify the strength of the prevailing trend. The novice traders often ignore the fundamental analysis and thus they fail to find quality trades. You need to develop a balanced trading system which takes care of all the major elements in trading. Learning the technical analysis will not make you profitable traders. In order to make consistent profit in this industry you need to focus on quality education or else it will be hard for you to survive this market. If you find it difficult then seek help from the pro traders or buy a book on trading.
Summary: In the world finance we have many things to learn. If you want to make a profit on a regular basis then you need to keep on learning. There is no short cut path to success. You need work hard and trade with the discipline to become a successful trader in this industry.