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4 Things Traders Must Do To Be Successful
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[QUOTE="jimcarter, post: 208531, member: 51429"] If you want to become a successful trader, you can keep the following things in mind. [B]Patience:[/B] Patience is an important factor if you want to succeed in any field, which applies to trading also. You have to keep your patience enough that you can wait for the price to reach the levels that your system predicts for either the entry or exit. If your machine suggests getting the right of entry at a positive stage, however, the market in no way reaches it, skip without delay to the other opportunity. Another transaction will continually be available. [B]Objective:[/B] Trading decisions are guided by rules in objective trading, also known as rule-based trading. For example, traders should follow a set of rules for order types, periods, entrance and exit points, and markets. [B]Discipline:[/B] Forex trading needs a certain amount of discipline. You must follow a set of trading regulations and keep a close eye on the price. Being able to respond when your system tells you to is also part of discipline. This is especially true when dealing with stop-loss orders. [B]Realistic Expectations:[/B] Even though the market occasionally moves considerably faster than you think, being realistic means you can't expect to put a small amount of money into your trading account and make a substantial profit on each deal. [/QUOTE]
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