Don't be selfish

Advices from William Gann in Forex Trading

Monday, 15 September 2014

Forex trader in any Forex company have to study this trade in general, and to know the principles and the basics of forex trading before he opens a real account with some forex companies. In order to be a successful trader with any Forex company you must have sufficient risk capital, you are able to loss it (or parts thereof) so it will not destroy your moral soul completely.
Luck is the most famous and common myths among beginner through thinking or believing  that the movement in the market is random, and anyone can trade at random, and being patient on his deal to win. People who believe that
it in order to win that he just opens the program trading in a forex company, and put his hand on any pair of currency pairs, and then closes his eyes as he pointed to the sale or purchase, and then waits for minutes or hours or days to see profit entering to his account without study or analysis or "head ache".
Aside from saying that this is a particular gambling, but this trade the profit cannot be sustained in this manner. Although hit once will fail times. The market is much more complex than this, and much deeper than "random mess" if not all traders would win. There is no doubt that the biggest proof of lying this myth that losers with Forex company are always lack of knowledge and experience, and that the 10% Winning are mostly more experienced traders. And experience means harmony with the market, and to understand the movement of the pair or pairs that the trader is working on, and the realization of the policy of money management, and controlling the psychological state of the trader, and to follow a certain strategy in trading.  
"The market is deceiving,”... because there is no easier way of throwing my lose reasons on others. This feature is in many of us; it is difficult for them to recognize their mistakes. You must rely on your mind in the market, and not on earnings, and this is what the company advises you to do , you should also focus on the task of exchange and remain calm, to make suitable trading decisions.
Do not listen to the opinions of others... do not make what others say affect your trading. Otherwise, you will change your mind in every moment, sometimes one may affect you and make you regret consensus not to keep your old position, which is now reaping dividends. In addition, we advise you not trade in many currencies at once, because you will tire yourself too much if you try to get the information and the entrances to several markets... learn to know yourself, and trade through this border with Forex.
Do not crash yourself on your own, create your own!
Before you go to any Forex company, you must know that all forex traders lose money in the foreign trade...90% of traders lose money heavily and the cause is poor education and lack of planning and lack of training and their dependence on bad money management rules. The company Forex is not for the unemployed person, in other words, it is not for those have weak income. Who cannot afford to pay the electricity bill will not have the ability to withstand potential losses. Do not expect to start with the expense of a few hundreds of dollars you will become a millionaire ... may win, but within the limits of the capital. The foreign exchange market one of the most popular markets because of the sheer size and liquidity and the tendency of currencies to move in strong trends ups and downs and success in exploiting trade opportunities which are special for learners or educated trader.
Many traders Comes to the company Forex with wrong hopeful to be millionaires in leaps, but this will not happen in the case of lack of education or lack of discipline required in the trade, and more people usually lack the discipline to part-time or neglect of the profession... If you are unable to be disciplined, how do you think you will succeed with Forex...?

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