On every potential trade, ask yourself, could you walk away and be okay? If you feel like you have the mother-of-all setups, then take it. That might seem like a big Captain Obvious statement, but many fight the trends or try to make one where there is none. Before you even think about plotting any indicator, ask yourself, is the market higher, lower, or about the same as it was days, weeks, months, and even years ago?

Secrets of successful trading

Studying the experience of many Forex market participants, you probably noticed that many traders are ready to study quotes for days after days, and think about making money. Successful traders consider What is a crypto derivatives exchange the trading process as an intellectual game in which you just need to get involved in time. At the same time, they do not mix trading with personal life but perceive it as work on a certain schedule.

As a freelance writer and consultant, Ken focuses on stocks, trading basics, investment strategy, and health care. His work has been featured in The Wilmington StarNews, The Daily Times, The Balance, The Greater Wilmington Business Journal, The Herald-News, and more. If you guessed that Trader #1 is the super-successful, professional forex trader, you probably guessed wrong. In fact, the portrait drawn of Trader #2 is closer to what a consistently winning forex trader’s operation more commonly looks like. A similar edge provided by converging technical indicators arises when various indicators on multiple time frames come together to provide support or resistance.


Wall Street elites like to scoff at this fast-moving style of investing, but those who apply the right approach and work hard — while knowing when to hit the exits — can make out well. There are two parts to making a good investment decision . The first part is to identify a company with a sound business and good prospects for future growth. Of course, they do, and so do you, but the “great stocks” we’re talking about are usually the ones that a well-meaning neighbor or co-worker tips you off to as the next Microsoft. Word-of-mouth suggestions are often hollow, tied to an economic cycle, or have already passed the best time to buy.

Secrets of successful trading

These types of “confirmed” breakouts from key levels can also be very good opportunities to try and trail your stop to let the trade run. Every now and then the market will be just ripe for a 10 bagger….a home-run trade. Whilst these trades are rare, they do indeed occur, however you have to avoid the mistake that many traders often make; aiming for a “home-run” on every trade. Most of the time, the market is only going to move a certain range each week and month. For example, the average weekly range on the EURUSD is around 250 pips.

Traditional Wall Street sneers at day trading, and the majority of people that try it do not do well, but if you make an effort to learn it and develop a sound strategy, it can produce a consistent stream of profits. Of course, that isn’t all the trading wisdom there is to attain regarding the forex market, but it’s a very solid start. If you keep these basic principles of winning forex trading in mind, you will enjoy a definite trading advantage. This axiom may seem like just an element of preserving your trading capital in the event of a losing trade.


Making money this month does not necessarily mean you will the next month, and some people cannot deal with this level of uncertainty. Some traders and investors try to deal with the uncertainty by setting monthly goals, but the financial market comes with a lot of unpredictability. All you can do is trade and invest to the best of your ability and follow your trading plan through. Some months you might make much profit, and some you might breakeven or lose even as a professional trader and investor.

However, it takes a lot of commitment and hours of practice to navigate that journey successfully and get to that point. They were willing to put in the work to fix their trading problems, which involves changing any mindset hindering you from making money in the forex, futures, and stock market. For quite several traders and investors, being wrong and still making money is not something constantly thought about. Most traders and investors believe they are right about a forex, futures, and stock trade when they enter it and would like to think their analysis was actually right. So, we always set ourselves up to believe we are right about trades and expect to win.

Secrets of successful trading

This “algorithmic,” or “program” trading has a high success rate, but it often involves just a fraction of a penny, and it is a totally different game than that which is played by individual traders. There are many ways to approach the market, but the one style that probably receives the least respect is day trading. It is viewed as primarily the domain of unsophisticated, small investors who are more gamblers than investors. There is some truth to that as bigger investors can’t trade enough capital in extremely short time frames.

Currencies are always traded in pairs, for example, pound sterling/U.S. Dollar (GBP/USD) or U.S. dollar/Canadian dollar (USD/CAD). As you so often read on the acknowledgments page, the author takes a few brief lines to say thanks. A page of appreciation is in nearly every book and this one is no different; primarily because a project like this is just impossible to successfully complete without the combined effort of an entire team. Have a good trading plan that covers all of these points as well as other important factors. A seller is any individual or entity, who exchanges a good or service in return for payment.

Professional Trader, Author & Coach

Understanding the importance of each of these trading rules, and how they work together, can help a trader establish a viable trading business. Trading is hard work, and traders who have the discipline and patience to follow these rules can increase their odds of success in a very competitive arena. Once a trader accepts wins and losses as part of the business, emotions will have less of an effect on trading performance.

The chart image below shows us an example of entering the market on a price action setup in “anticipation” of a breakout. This is a more advanced way to enter a breakout but it can provide a tight stop and a very large risk reward potential on the trade. There are usually price action “clues” just before this type of breakout; note the bullish tails on the bars that preceded the inside bar setup in the chart below.

You don’t decide to become a surgeon on Friday, read a book over the weekend, and then begin cutting on people on Monday. In fact, the more successful people are in their current or prior career, the more they think they can transfer that success to trading. You didn’t become a doctor, a lawyer, or an automatic transmission mechanic overnight. Trading, even if done only casually, should be treated no differently.


In trading and investing, when we lose money and we switch to the caveman mood of wanting to get it back immediately, this is when we begin to make emotional decisions. This is one of the most unobvious topics for the traders, who have got acquainted with the world financial markets recently. It is unobvious partially due to the fact that it contradicts the way of thinking of the majority of people.

Secrets of successful trading

Charting platforms give traders an infinite variety of ways to view and analyze the markets. Backtesting an idea using historical data prevents costly missteps. Getting market updates via smartphone allows us to monitor trades anywhere. Technology that we take for granted, like a high-speed internet connection, can greatly increase trading performance. With today’s technology, it is easy to test a trading idea before risking real money. Known as backtesting, this practice allows you to apply your trading idea using historical data and determine if it is viable.

Forex Trading Secrets: Trading Strategies for the Forex Market

But a successful trader would add that no matter where the market goes, he will follow it. You can chose to maintain a position for a very short time or for longer periods, even years; it will depend only on your own trading strategies. There is a broad electronic network that allows central banks from all over the world to share their quotes and actual currency rates. In this way, central banks are able to exchange and convert their currencies one into another in real time. The currencies that are traded most commonly are the U.S. dollar, the Japanese yen, the euro, the British pound, the Swiss franc, the Canadian dollar, and the Australian dollar.


I keep returning to your website to tap into your expertise and advice and to remind myself of ‘the rules’. You make it look simple, Niall, but we all know if it was that simple we wouldn’t be here – Clear, https://xcritical.com/ logical and concise information. “Every article lays a new brick and together makes a solid wall of visdom in this business”. Hi Nial I have just started to read your lessons and this was superb.

This sort of trading requires intense focus, and it can distract you from many other opportunities. There is a perception that because a market approach is difficult, then it should be avoided. The reality is that the reason an approach can be so profitable is that it is hard to do. There are many folks who work hard at day trading, and they do extremely well with that approach.

This gives FOREX traders the opportunity to make money on these changes. Transactions can be conducted very quickly and yield a profit while the exchange rates go up or down. Marginal trading implies operating with borrowed capital, where you need only a small percentage of the total sum of the transaction. FOREX trading is conducted through individual contracts. This means that for every standard contract you acquire, you are controlling 100,000 units of the base currency. Many companies offer mini accounts in which you can trade units of 10,000, where the pip value is $1 or even smaller.

Thanks for everything you do, this book is dedicated you. Just a decade ago, the Foreign Exchange was a market reserved for a select few. Now, anyone can actively trade in this profitable market—even those with no formal financial education. Enter James Dicks, a leading FOREX expert and educator who cut his teeth in this burgeoning market and wants to share his years of experienced wisdom with you. Give yourself time to develop and learn as a stock market trader. “If most traders would learn to sit on their hands 50 percent of the time, they would make a lot more money”.

This is called fundamental analysis, an overview on all this information and how it affects a particular country and currency value. Fundamental analysis takes account of rumors, political events, and the local and international economy, such as, for example, the rates of inflation and unemployment, taxes, and interest rates. The political stability of a particular country and unexpected events also have great influence on the fluctuations of that country’s currency. If you combine a high level of self-discipline with an effective trading strategy like Supply and Demand, you will have all the tools you need to succeed as a trader and investor. We, as an online trading academy and licensed investment consultancy, can teach you the Supply and Demand trading strategy in our virtual classroom. All you need to do is to apply and enroll to our lifetime program.

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