15 KEYS FACTORS OF SUCCESS IN FOREX

1. Locate the Stop Loss: Before performing any previously set the amount you are willing to lose and simply conform with this amount. Set a stop loss level before opening a position and place as soon as possible. Never modify your stop loss if your position becomes loser.

2. Let your profits run: Never let your emotions rule an operation. Keep in mind the reasons why you came to the market and comply with these reasons. The less emotional, the better it will be.

3. Do not be influenced: You must have planned their own strategy to operate and comply with it. If you are influenced by others, he will change his mind so incessant, learn to ignore external sources once they made their decision.

4. Keep their sizes and positions within acceptable limits: Operators who have a real success know that trading is a game of probabilities, and long term, if you stick to their strategies and uses healthy strategies which is formed, it is likely to succeed. To be a successful trader, you should never enter a position that could jeopardize a substantial capital. In fact, very rarely you find an operator who risk more than 10% of its capital in an operation, and 10% is already extremely high.

5. Know your risk ratio versus the benefit ratio: The ratio benefit / minimum risk you should use is 2: 1. For example, if you are long on GBP / USD and you want to gain 50 pips, should not risk more than 25 pips. Another example, you should never risk 40 pips to gain 15. If you do, you losers operations will ruin your chances for profit.

6. Have a suitable capital: You should never trade with money you can not afford to lose. Always make sure you have enough credit.

7. In Trend or Neutral: Learn to analyze the market; Is it a market trend or rather neutral? In a trending market, follow the trend in a neutral market, buy low and sell at the highs; since you are using stop loss, controls and risks.

8. Do not fight the trend: Do not try to sell at the highs on a bullish market or buy in a bear market low. Follow the good old advice: “the trend is your friend!”

9. Do not give “missteps”: One of the most common mistakes made by operators is continuously add positions on a losing position. Personally I have never seen a winning long-term operator using such techniques. For short-term trades, preserving capital is the most important, to stake too much capital jeopardize its success.

10. Understand how the market thinks: should accept that all information (except for newly released information which the market immediately reflected n) is already taken into account in the price of a currency pair. You should know the (particularly important) come indicators, and should know what is already anticipated by the market.

11. Trading – a game of probabilities: You will never have reason in 100% of cases, you should accept it. Trading is a numbers game, wins sometimes and loses other times; the idea is simply to win more than you lose. Trading is an odds game and if you act properly in the long term, will benefit. Learn from your mistakes, when you start having more chances of losing at first, analyzing what went wrong, try not to fall into the emotions if it conforms with its strategy and learn from your mistakes, you should see your profits exceed your losses.

12. If the logic disappears, exit: If the reason why you entered a transaction disappears, then the reason to stay in this operation also disappears. If you think you are on a low and the same is crossed, exit the operation and then review the situation and take a new decision.

13. Establish a maximum below: If you chain 3 or 4 losing positions, pause! There is certainly something wrong, get out, go for a coffee, focus … Do not be afraid to take a break.

14. Study: Learn new ideas, take a day and do not operate on the ideas of others, you should always know why you are and an operation.

15. Have fun!: Appreciate what you do, have fun! However, keep calm, stay as unemotional as possible – you will have more success