As a trader whether you are a beginner or just jumping in, it is possible that you have been inspired by your proud professional trader. Unconsciously, you start to follow the figure of your idol both from how to play and the strategies used.
It's just that, not all beginner traders are able to do that because obviously the capacity is different. Not as easy as you imagine, when you have become a trader and intend to follow the steps or strategies of your idol trader. Still, it takes more mature skills and experience before you are able to equalize positions with idol traders. Well, on this beautiful occasion we did not discuss a lot of information relating to idol traders but rather to changes in your trading strategy that is widely applied by successful trades. The information we will share is based on summaries from various sources so it is mandatory for you to try. Even so, it still requires determination and willingness to continue learning, because not everyone is able to become a successful trader. There are many things that cause many people to fail in trader strategy and eventually have to retreat slowly. Let's look back first, what affects you a lot of losses before we proceed to the next step.
What causes you to always lose in trading
Many have covered that in fact he has experienced a lot of losses from forex trading, because the strategy used is not mature or can be said to be unprepared. Until in the end, have to spend a lot of money to cover losses that have occurred. The following are some reasons that make you always fail and experience loss in the world of trading. We hope you will acknowledge this as your self-evaluation material going forward.
- We are confident that your trading strategy has been less effective and has not yielded significant results at all. this is what we sometimes think of as pelaung cuan but stabbing slowly. Trading strategies without proper analysis and only based on "he said" friends and others, now you must think carefully. Terms in the trading world are like "shooting birds in dark conditions" which means it's just useless.
- The use of risk management is very important in securing your profile, no
some of us really want to do it. Are you confident enough? If so, then you don't need to read this article.
- Funds become an important source in the trading market, without funds you cannot trade to the maximum. The reason we are asking this is whether you are using daily necessities? If so, then your financial management is totally unsuccessful or "failed".
- Have you implemented more effective and effective strategies so far? If so, we are sure you do not want to be appropriate and disciplined with existing strategies and are quite effective. This is often overlooked by many traders, they always want the "more", so forget that he already has the right weapon.
If we look at the 4 points we have stated above, those are some of the underlying causes of many traders failing until this moment. Losses in the hundreds of millions are not an important issue for those of you who have more funds, but will you continue to be like that? So, when can you feel the real profit? For this reason, we hope that with this information, you can evaluate yourself and prepare a trading plan carefully.
Here is a surefire way to change trading strategies of professional traders
1. Develop an agenda for strategy improvement
Every trader has their own schedule both when to buy and when to sell. This is what is often done by many professional traders out there, they always diagnose failures and losses that have occurred and always take the time to fix these deficiencies maximally. For example, when you get the right strategy, don't ever look for another strategy, even if the profit is twice as big. Sometimes, amateur traders are always tempted by strategies like this so they forget that a mature and effective strategy can avoid losses. Try to improve yourself, know for sure where your mistakes are, from here you can get back up to become a trader who is more productive and disciplined in following the existing strategies. Plan also to limit the number of trades both per day and per week. That said, you are in a maximum of 3-4 entries in a week.
Professional traders also do not forget to continue to apply risk management well to avoid the risk of high losses with a large trading lot size. For this reason, also plan well when to trade about 2-3 percent of the total balance that you have in your trading account. Furthermore, the use of daily funds should never be done, the term for trading must have its own funds and not from your needs for life, simply put funds that are not used.
2. Begin to apply the results of your strategy and changes
If you have succeeded in making changes to the first point, then soon you are ready to become a professional trader, because we believe you have succeeded in making improvements from all sectors. Both of risk management, financial management, discipline with a more effective trading strategy and many things that can change yourself for the better. That was the beginning of many traders who managed to change gradually from what was originally "amateur" to "professional". You can do this easily if there is intention and perseverance in yourself. Do not easily believe the term he said, follow the path of yourself and adjust according to your needs, because not everyone can be you and vice versa.
Many traders out there are always eager to get 50% profit from their total balance without using the right trading strategy. They forget that if the forex market often experiences fluctuating up and down trends, it cannot be predicted when the right position to buy and sell. So, avoid this excessive because it can bring you into a deep hole. Success in the world of trading is not impossible if indeed you can persevere correctly. So much information from us, hopefully useful. Thanks.