Tips for forex beginners Part 5
9: Develop own system of successful trade and strictly follow it
Having chosen trading strategy and tactics, having developed own trading system, don’t wait that 100 % of transactions become profitable. Any professional makes both profitable and unprofitable transactions. It is important, that the quantity and total result of profitable transactions exceeded the same indicators of the unprofitable.
The best professionals approximately only in 70 % of cases reach positive result under the transaction. The profit overworks during the long period of time due to the excess of the size of the total income over losses. Therefore the single unprofitable transaction shouldn’t upset and unsettle you. You only should analyze attentively the reasons which have led to losses and to improve own system of trade in due course to achieve stable growth of results.
10: Separate failures shouldn’t become tragedy
Starting real trade, it is necessary to understand firmly that game in a demonstration mode as it is essentially differs from real game on real money. The difference is comparable to sensations of the same sportsman on training and in the World championship.
At real game each movement of a rate is expressed in quite concrete sum of your means, and it puts huge psychological pressure per capita. Even quite successful players at the slightest failure can lose a head and capability to sober thinking and the analysis. But also excessive euphoria from the received prize can play with you a malicious joke. The transitive stage can become an exit from a current situation.
Even if you possess big enough capital, probably, to you test of the forces in game on so-called mini-forex where risks in tens and hundreds times less, than in the real market becomes very useful. Quite reasonable it is represented at the first game on real money to risk no more, than on 10 % of available means. It will help to estimate once again correctness of yours of the decision on the work beginning in market Forex. The statistics says that more than half of beginners lose the first enclosed means. And only the most persistent and persevering reach eventually result. Therefore, reserve a maximum of available means until when you can tell to yourselves: “I am ready and I am able”.
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