To the question, what is the most important thing in trade in Forex, even professional traders who not only trade in the foreign exchange market are not always able to answer the Forex of future financial analysts. The adherent of technical analysis will call the main tracking of indicators, the master of fundamental analysis will consider the most important business news, politics and declaration of betting bets. Both will be right in their own way, but in general they are wrong.
Trade in the foreign exchange and exchange markets stands on three whales, Alexander Elder teaches us, this is psychology, analysis and trading system, while their importance corresponds to this sequence. The most important thing when trading on Forex is psychology, not trading advisers, indicators or the course of the schedule.
Self -control, cold mind, the ability to wait, and if necessary, it is valiant to take defeat – these are the qualities that will not teach, unfortunately, not a single school of traders . The ability to recognize one’s own mistake and its weakness is the fundamental factor of success on which knowledge introduced into the bright head of the future online currency merchant in the course of teaching Forex.
It is the emotions of the traders, and by no means news from world markets, not the bets of the Central Bank of Japan or the US Federal Reserve, not the position of the built trend line and not the flashed candle “PASH” cause the strongest waves on the schedule with a trend, the direction of which may not change for years.
Control of yourself – this is what, first of all, you need to educate in yourself when you are going to become a trader. As the professionals of many Forex clubs note, the reviews of which can often be heard at all kinds of seminars on trade in the foreign exchange market, the most important guarantee of Forex victory is a victory over oneself. Without control over himself, writes Steve Neeson (author of the first English -language version of the book about Japanese candles), it is impossible to control over the size of his capital, and even more so – over the events that our schedule gives us.