Know your market

All markets have their own individuality. There is important news which can lead to unexpectedvolatility and there are stagnation periods. It is better to you to know about the market on which you trade, it possesses big advantage in trade.

Specify and develop your style of trade

Whether your mechanic style of trade is valid? You have time for studying, desire, persistence and the control over emotions? If you lack any of these characteristics, that, probably, you should consider the mechanic approach to trade.

The successful mechanic trader should:
1. Admit that fact that the mechanic method of trade is the compromise between the purpose to exclude the most defective transactions and to keep the best transactions. This fact is connected by that from time to time trade will be accompanied not only good, but also unsuccessful transactions.

2. Accept that fact that the mechanic method of trade can be successful only in the event that it is consistently observed.

Whether you are the intuitive trader? Whether there is at you time, desire, persistence and the control over emotions? If you have all these characteristics develop your style of trade, allocating “Art trade”. (It is unconditionally tremendous way for the trader – to gain money “feeling the market”)

The successful intuitive trader should:

1. Trade on the basis of that he sees, instead of that he thinks.

2. To be patient, to wait good possibility for trade and only then to make the transaction.

3. To abstain from remunerative transactions.

4. Not to trade only for excitation.

5. To do daily homework necessary for sharpening of the skills of trade.

Lines of the successful trader

“The adequate capital – without it anything other doesn’t matter.

“Courage

“Patience

“A constancy

“Self-discipline

Rules of successful trade:

To accept the certain plan of trade.

Because of an emotional pressure which is peculiar to any speculative situation you should have the preliminary scheme of actions which includes a kit corrected on which you work also which adhere, thus protecting you from your emotions. Very often, your emotions push you to do something absolutely incompatible or opposite to volume that is pledged in your trading plan. Only adhering to preliminary “formula”, you can resist to emotional temptations and the stresses which are constantly present at a speculative situation.

Don’t trade, if you aren’t assured.

If your position is opened and you feel uncertainly accept the losses or protect the profit the stop warrant. If you aren’t assured of your position, you will be influenced by various extraneous and insignificant details and you, possibly, leave it with losses.

You should be capable, even being right in 40 % of the transactions, all the same to get profit.

At speculative trading would be unreasonable to expect that you appear are right each time. The trader with appropriate methods of trade should reduce thus the losses and allow profits to grow, that even being right less, than in half of transactions, all the same to have good profit. This moment is more carefully considered in the fourth rule.

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