How to survive and succeed in forex. How can an ordinary person achieve success in Forex? Work on yourself

How to succeed in the Forex market? Exclusive Forexone blog article about 20 tips for a novice trader to achieve success and make money on the foreign exchange market.

Caused losses for a very large number of inexperienced and undisciplined traders over the past few years. That's why you want to understand how to succeed in the Forex market so you don't become one of the 95% of losers who lose their own money.

Risky and dangerous trading includes trading gold (XAU). ? This is a question many new traders ask, but gold is a complex instrument to trade. We do not recommend that you trade gold on the foreign exchange market if you have little trading experience. Now let's move on to the most important tips for a novice trader.

We will look at trading tips on how to succeed in Forex that will help you avoid trading disasters and maximize your level of potential in the forex trading market:

Explore yourself and your capabilities.
Carefully calculate your risk tolerance based on your market needs. Simply put, you must identify your risks and opportunities. This is what your risk management in trading will consist of.
Write a detailed plan for your goals and stick to it. not one step from your plan.
You must become a disciplined trader. Only through discipline in trading can you be successful in the long run.
Choose the broker you work with wisely.
The broker you choose should fully suit your wishes and your trading style. If you want to practice scalping, pay attention to brokers who have low commissions.
Select your account type and leverage rate
The account type and leverage must fully meet your requirements and expectations. Don't forget about money management.
Start trading with small amounts and gradually increase the amount of funds on your account in proportion to your profits.
If you can't grow your account through income, then there is no point in constantly pouring funds into your account just to waste money. Of course, at the initial stage, this is an integral part of trading for beginners. But if you need to replenish your trading account for the 5th time in a row, you should think about the advisability of playing on the stock exchange.
Focus on one currency pair.
Increase the number of currency pairs as you improve your trading skills. Without this condition, you will not be able to earn money. Learn to trade at least one specific currency pair.
You must understand your every action.
Every trading and analytical decision you make should be informed and rational, and not made based on emotions and impulses. You need to analyze every transaction you make.
Do not increase the size of a losing position.
A common mistake made by beginners is to unreasonably “top up” a losing position. Averaging or martingale are slippery trading strategies with a high probability of risk and are extremely contraindicated for novice exchange players with a small deposit.
Tame your emotions– they will not help you when trading on the Forex market.
Emotions don’t just negatively affect one trade, they destroy the entire trading system. We are all human, but when you open a trading terminal, you must strictly follow your trading algorithm, regardless of what is happening in the market and with your open position in particular.
You need to keep records., to study your successes and failures, which will help you constantly improve your trading system.
Without a trader's diary, you will not be able to evaluate your trading and find errors. You must document every deal you close. A trader's journal is an archive of your trading history, without which you will have no future.
Automate your trading in the foreign exchange market as much as possible.
Having found a pattern in the foreign exchange market on which you make money, you must algorithmize or automate this trading system. This will bring you more money than manual trading.
You should not rely on Forex robots, miracle methods and other useless methods.
Even if you find a pattern on the chart, you should not completely rely on advisors and robots. There is no single universal scheme for how to succeed in stock trading. The market is changing and the pattern that you have automated can stop working the very next day.
Keep your trade plan and analysis simple in understanding and explanation and then it will be much more useful.
Keep your trading simple. In fact, everything is not as difficult as it seems to many beginners. Yes, it takes trading experience to understand this, but that doesn't mean your trading system has to be extremely complicated when you first start out as a trader.
Don't go against the markets, unless you have the patience and financial fortitude to stick to a long-term plan.
The biggest money is earned by large traders when the vector of price movement changes. But you are not a big trader. Never try to go against the trend - you will not have enough skill to determine these changes in advance, nor your trading deposit to firmly stand in a position when everyone is making money on the trend movement.
Forex is based on probabilities, which provide you with versatile profit opportunities.
Remember: no one can predict future price movements. Nobody! You will always be only 50% right. Your job is to find logical reasons for where the price should move in the future.
Be gentle and patient. Don't fight the markets.
Learn to work in the direction of the market movement, and success is guaranteed to you. Learn to spot a trend. It only sounds very simple, but in reality only a small percentage of novice traders can determine the price direction vector. Why? Because the trend is not always the same on different timeframes.
Be realistic about your expectations.
Follow your own judgement. We recommend that you aim for an annual return of about 25% if you are a beginner. This means that if you made $125 out of $100 in a couple of days, be prepared for the fact that by the end of the month you will have $102 left. Moreover, it will be a success because you did not lose money! It may sound funny, because you didn’t come to Forex for $2, but believe me, this is a very important step for earning big profits.
Learn the basics of money management, which will help you effectively manage funds from your account.
Without proper and prudent management of trading capital, you will be on the market for just a few transactions. You must be able to calculate the cost of a lot, determine for yourself the optimal leverage that will not destroy your trading account instantly when the market goes against you. It is necessary to include risk in your trading deposit. Your cash deposit with the broker should be sufficient for your trading strategy so that the maximum loss on a trade is no more than 2%. This 2% should be your stop loss. This is your safety net.
Learn Forex currency pairs and their fundamentals and various technical factors that influence price fluctuations.
Fundamental and technical analysis are 2 types of analysis that govern the entire Forex currency market. Fundamentalist traders prefer to exclusively follow economic news. Technical analysis specialists exclusively use indicators, advisors and graphical patterns on currency quote charts. We recommend that you use an integrated approach. It may not be as deep in each type of analysis, but in general it will give a more objective picture of the situation with a certain currency pair.
Do not give up!
95% of traders lose their trading deposit. This is a fact and we tell you this directly. Moreover, there is not a single very successful trader who has not lost several trading deposits. The foreign exchange market will strengthen every trader who wants to take a bite of his piece of the money pie. The whole difference is that successful traders have extremely high stubbornness.
You should see not the reason for the defeat, but the opportunity to make money. The opportunity to become a financially independent person. Everyone has defeats, but this is a reason to learn useful lessons from them and improve your strategy. If you were wrong in the past, you always have the opportunity to correct yourself and this will not only strengthen you mentally, but will also bring you money if you analyzed your loss correctly. Remember: your mistakes are your potential victories!

Any industry that generates profit gives rise to its own myths. Trading is no exception. The greater the possible profit, the more speculation and fiction it gives rise to. Many people believe in them without even trying to understand their validity. By doing so, they deprive themselves of the opportunity to succeed in trading. We debunk trading myths for your success!

The first myth is that you need a lot of money to trade on the stock exchange.

Do you seriously think that being big will ensure success? A huge number of examples of traders who lost their large deposit in 15 minutes. But history also knows many examples of successful traders who started their journey with 100 dollars in their pocket. Do you think that William O'Neal, Larry Williams, Warren Buffett and George Soros were stopped by the lack of money in their pockets? Of course not. Quite the contrary. Lack of money develops self-discipline, control and “upgrading” your skills like no other. All their potential was aimed at finding better earning opportunities.

The second myth is that economic or technical education is required for trading.

Many of the famous traders did not have an economic or technical education. Some of them were farmers, journalists, doctors, philosophers, others had no higher education at all. Yes, it can help you in some way, but its presence is not a “vaccination” for success and “insurance” against. Only personal qualities, constant polishing of skills, non-stop practice and psychological attitude!

The third myth is that trading is a synonym for gambling, “roulette”. Today you win, and tomorrow you lose to zero.

Ask yourself honestly – could successful traders stay at the financial top for decades relying solely on luck? Hard to believe, right?! Behind each of their financial victories is perseverance and effective trading technology. What is more important to you - constantly receiving a stable income or instant success with a guaranteed loss in the form of a bonus?

The fourth myth is that in trading the risk of losing everything is too great.

Life in general is a risky thing, dangers await you at every step. But this will not stop you from living. You can’t know everything, and you won’t always be able to “spread a straw” for yourself. included as a bonus. Just accept it. Your task is to reduce the size of this bonus to a minimum. It’s very easy to do this – you calculate it for every trade and maintain a profit to risk balance of 3 to 1. Traders increase their profits not because they have too much money, but because they consider their risks well and always keep them in mind.

The fifth myth is the most powerful! Trading gurus know the secret of 100% success (a sort of Holy Grail) and hide it carefully.

If you want to “quickly cut the cabbage” in trading, then this is “your” statement. There is no Grail! Moreover, successful traders are open and willing to share their secrets of success so that you achieve more!

It's all in your head. More than 90% of traders lose everything due to psychological problems, the inability to clearly follow simple rules, and the inability to control their emotions. A large deposit, knowledge of trading technology, strategy and technical analysis do not help here. Everything is much deeper.

Do you want to be in those 10% of exceptional traders? Then put your brain into “combat mode” by watching

Greetings, dear blog readers! Everyone knows perfectly well that achieving success in the forex market is far from easy. I think that you have more than once wondered why other people are doing great, they earn good money and live for their own pleasure.

For others, it’s the other way around; they are constantly forced to count pennies and deny themselves almost everything, always.

Naturally, you can always find an excuse for yourself: blaming someone for all mortal sins, blaming everything on bad genetics, shouting that you have no opportunities and no strength, but all these are just excuses in order to avoid active actions that will allow you to break out into the people .

However, I believe that it is only about you, and not about someone or something. Understand that achieving success in the forex market is an extremely difficult task, which only really strong and strong-willed people can do.

Of course, I don’t want to talk about pathologically lazy people; nothing good ever awaits such people! To really achieve something, you need to work and constantly improve! Today we will talk about how to generally achieve success in the forex market and come close to it.

There is a certain paradox: there are people who spend days on end at the terminal, they greedily absorb information, look for something new, but they do not have any positive results.

I want to say that this is quite a common phenomenon in the market, which can last for years. But it happens quite the opposite: a person devotes literally a couple of hours a day to trading, and profits seem to fall from the sky.

To be honest, from the very beginning I adhered to the first type of development. I could sit near the terminal for days, I constantly read various books and watched video lessons.

During all this time I spent a huge amount of effort, nerves and money. Apart from trading, I didn’t notice anything at all, in principle, and couldn’t notice anything.

Perhaps this is due to my overwhelming desire to truly secure an independent future for myself. Now my opinion has changed somewhat, I stopped chasing money, I focused on gaining invaluable experience.

I strive to allocate my resources, invest my time and money as efficiently as possible. At the moment, I am striving to realize myself in several areas that are seriously different from each other.

To be honest, at first it was very difficult to switch our attention, but it is this approach that gives us the opportunity to spend our time with the necessary efficiency.

I am more than sure that if I immediately began to act in this way, success in the market would have come to me much earlier.

The unbridled desire for development in various areas turns your success into systematicity. I am more than sure that even if you have a main goal, accompanying development in other areas will motivate you and accelerate the result. At worst, working in only one area is incredibly boring!

Diversity is a systemic success!

Plan your day wisely! If you have many areas of activity, you constantly have to transfer your attention from one thing to another, then you cannot do without competent planning.

If you do all this without a competent plan, then by the end of the day you will exhaust yourself, I bet that you will not last long at this rhythm.

You will always lack the desire to create; of course, you will never be in a good mood. A competent plan will always put everything in its place, you will always know in advance what to do, and there will be no panic.

A competent plan will help you focus on the tasks at hand; you will not simply think about what to do.

You have a clear plan - you strictly follow it, competently completing your tasks. It seems to me that when a person has a really wide field of activity and a lot to do, he will in any case come to the point that he will need to clearly plan his actions, without this there is no way.

Yes, you won’t be able to devote a whole day to trading, but you can devote a few hours. But you will spend these few hours on the market with such efficiency that you never dreamed of!

You will truly appreciate every minute and spend all this time usefully. Personally, I have been keeping my diary for some time now, where I write down important things that I would like to do, or have to do.

Of course, I don’t write down everything I do, but I always mark off the most important ones. In general, I clearly realized that if a huge number of new things are planned, then there is no way to do it without competent planning! The effectiveness and results of my actions appear only when I plan them!

I recently read a very interesting book on psychology. It says that a person needs to be instilled with a sense of success and desire for it from an early age.

From one point of view, you can deceive a child a little by giving him praise in every possible way when he even does something wrong.

For example, he does something poorly, but you constantly tell him that he is a real good guy. In theory, this fact will, over time, develop inner self-confidence in the child, and he will never give up, even in the most difficult situations.

From another point of view, you can tell the child everything directly, and at the same time competently help him solve all the problems.

For example, engage in his training, encourage him. This approach will give the child a clear understanding that we must be able to cope with any difficulties in life; nothing is given to us for nothing.

Developing success in Forex

Achieving success in the forex market is extremely difficult! To do this, it is necessary to lead an active lifestyle not only within the market, but also in everyday life.

There are activities in our lives that will help us achieve success in the market. Let's consider:

I often go to boxing training, probably 3, and sometimes 4 times a week. You may ask, what does sports have to do with it? In fact, it really motivates you. You know that you must be in a certain place at a certain time and do physical labor.
Reading. I find the books to be especially useful for traders. I personally am interested in various books on psychology and economics; extra load on the brain won’t hurt.
Chat with friends! Well, of course, we are all human and cannot stand being alone. Never forget about your friends, find time to communicate with them closer! Have fun and enjoy life.

Basically, how to succeed in the forex market is a comprehensive question. On the one hand, you must persevere within the market, but do not forget that you have an everyday life, which also takes up time.

Who doesn’t dream of a profitable, interesting job, and one that allows them to enjoy it from anywhere in the world? There is probably no such person. That is why more and more people, tired of the everyday office, decide to go trading on the world currency exchange. However, not everyone manages to get the coveted profit. What you need to know to succeed in the Forex market will be discussed in this article.

First of all, you should start trading on Forex by choosing a reliable broker. A lot will depend on its correct operation and reputation. Only after making sure of the reliability of the exchange intermediary can you move on to the training stage. Professional traders advise first understanding the principles of trading on a demo account. All actions on it are exactly the same as in real work, only the deposit is not real. However, after trying your strengths and capabilities on the demo version of Forex, you can understand a lot. The most important thing is whether this work can really become the main one.

After a novice trader tries himself as a stock speculator, he can move on to more serious training. Only by constantly expanding your knowledge can you learn how to succeed in the Forex market. Some players advise completing training first, and only then starting trading. However, the experience of professionals suggests that it is better to initially feel a sense of potential profit or loss. Understand whether it is worth plunging into this field of activity at the very beginning of your journey.

Choosing a Strategy

One of the important factors influencing a trader’s profitability is the strategy he chooses. Today there are a great many of them. Moreover, the cost of each of them varies widely. This is explained by the fact that experienced traders who want to make money by selling them put them up for public use for a certain fee. In fact, if such strategies, which can be so often found on the Internet, generated income, it is unlikely that anyone would sell them. Knowing how to succeed in the Forex market, the trader will use these secrets himself. Therefore, everyone must independently select for themselves the optimal operating principle, taking into account their character and acquired knowledge. After all, some people prefer to conduct aggressive trading, while others, on the contrary, prefer less risky trading.

Self-discipline is the key to a successful trader

Self-discipline plays a huge role on the global currency exchange. To succeed in the Forex market, you need to have a trait called composure. If a person is subject to emotional outbursts, irritability or frequent mood swings, then he does not belong on the stock exchange. To make a profit, you need to be able to quickly make decisions based on the analysis and control your risks. Sometimes you need to close a position, even if it is slightly unprofitable. If a trader cannot make such a decision and hopes for the best, then he is on the road to failure. Thus, in addition to replenishing your knowledge base, you should develop and train self-discipline. You need to learn to exit the game in time and not succumb to the temptation of easy profits when the market is not in the mood for it. In general, Forex trading is not a game of roulette. There are rules and laws that apply only to a cold-blooded stock speculator.

Calculated risks, or How to trade more profitably

As mentioned above, you should only take risks in cases where everything suggests that the market will go in the right direction. At the same time, you cannot risk the entire deposit, only a small part of it. Everyone has a chance to succeed in the Forex market. Not only for those who have a lot of capital, but also for those who start with a few dollars. Sometimes it’s even better to start with a small amount that you don’t mind losing. After all, if you deposit $1000 into your account and immediately lose the money, there will be nothing left but a negative attitude towards trading. In the future, both reviews and impressions will be negative. And if, having lost a small amount of money, a novice trader draws his own conclusions, then in the future he has a greater chance of developing a profitable trading strategy and increasing his capital.

So, it becomes clear that in order to succeed in the Forex market, there are not many steps that need to be taken. The main thing is to constantly undergo training, then develop your own and learn internal control and self-control. Beyond these steps, you will need to constantly practice and take deliberate risks.

In any case, knowing how to succeed in the Forex currency market, you don’t have to immediately leave your old workplace. After all, many who were inspired by the huge profits of the foreign exchange market and left their previous jobs ended up with nothing. That is why at the initial stage it is better to combine two directions, and only then, having learned the secrets of successful trading, make a choice in favor of Forex.

All over the world, companies that have achieved international leadership use strategies that are different from each other in every way. However, while each successful company pursues its own strategy, the underlying operating principles - the character and evolution of all successful companies - are fundamentally the same.
Companies achieve competitive advantage through innovation. They approach innovation in the broadest sense, using both new Technologies and new ways of working. They learn new ways to compete or find better ways to compete using old ways. Innovation may take the form of a new product design, a new manufacturing process, a new approach to marketing, or a new methodology for employee development. Most innovations turn out to be quite simple and small, based more on the accumulation of minor improvements and achievements than on a single, major technological breakthrough. This process often involves ideas that are not even “new” - ideas that were literally “in the air” but were not purposefully applied. At the same time, there is always an investment of capital in upgrading skills and knowledge, in physical assets and enhancing brand reputation.
Some innovations create competitive advantages, creating fundamentally new opportunities in the market or filling market segments that other competitors have not paid attention to.
If competitors are slow to respond, such innovations lead to competitive advantage. For example, in industries such as automobiles and consumer electronics, Japanese companies have achieved initial advantages by emphasizing compact, smaller, less energy-consuming models that their foreign competitors have neglected as less profitable, less valuable, and less valuable. attractive.
In international markets, innovations that bring competitive advantage anticipate both internal and external needs. For example, as international interest in product safety grew, Swedish companies such as Volvo, Atlas Sorghum and AGA were successful in the market by anticipating favorable market opportunities in this area. At the same time, innovations that are unique to the domestic market may even hinder the achievement of competitive success on an international scale. For example, the lure of the powerful US defense market has diverted the attention of US materials, tooling and machinery companies away from attractive global commercial markets.
In the process of innovating and making improvements, information is of great importance - information that is either not available to competitors or they are not looking for it. Sometimes innovation is the result of simple investments in research and development or market research. More often than not, innovation comes from deliberate effort, from openness and searching for the right solutions without being blinded by any assumptions or formulaic common sense.
For this reason, innovators often find themselves on the sidelines of a particular industry or country. Innovation may come from a new company whose founder has an unconventional background or simply has not been recognized by a long-established, established company. Or the ability to generate new things can come to an existing company through senior managers who are just starting out in the industry and are therefore more able to sense new opportunities and strive to achieve them. Innovation can also occur when a company expands its reach, bringing new resources, skills, or perspectives into a new industry. They may come from another nation, with different conditions or methods of competition.
Except in a very small number of cases, innovation is the result of extraordinary effort. A company that successfully introduces new or better ways to compete pursues its goal with great determination, often enduring severe criticism and overcoming significant obstacles. In fact, achieving success when introducing an innovation usually requires pressure, awareness of the need and even a certain aggressiveness: the fear of losses is often an even more powerful driving force than the hope of winning.
Once a company achieves a competitive advantage through innovation, it can only maintain it through continuous improvement. Almost any achievement can be repeated. Korean companies had nearly matched the capabilities of their Japanese competitors in mass-producing standard color televisions and VCRs; Brazilian companies have formed technological processes and developed designs comparable to competitive Italian forms producing special types of leather shoes.
Competitors will immediately and certainly bypass any company that stops improving and introducing innovation. Sometimes initial advantages, such as customer relationships, economies of scale in existing technologies, or reliability of distribution channels, are sufficient to allow an inert company to maintain its position for years or even decades. However, sooner or later, more dynamic competitors will find ways to circumvent these advantages based on their innovations or create better or cheaper ways of doing similar business. Italian appliance manufacturers, whose products successfully competed with other firms on the basis of cost of selling medium-sized and compact appliances distributed through long chains of retailers, rested on this initial advantage for too long. Having developed more differentiated products and achieved strong trading privileges, their German competitors began to conquer these areas.
In other words, there is only one opportunity to maintain the achieved competitive advantages - they must be constantly improved, moving towards more complex forms. This is exactly what Japanese car manufacturers did. They first entered the foreign market with small, inexpensive, compact machines of adequate quality and competed on the basis of lower labor costs. Even though the labor cost advantage continued to exist, Japanese companies did not stop improving their production. They actively invested in creating new modern factories to achieve large-scale production. This was followed by process innovation, providing leadership in the creation of new, timely products, as well as the introduction of other practical methods to improve quality and productivity. This improvement in the production process led to higher product quality, improved service, and an increase in the company's rating in terms of satisfying consumer needs compared to foreign competitors. Subsequently, Japanese car manufacturers took the lead in production technology, and now they are launching products under new, very fashionable brands - products that compete with the most prestigious passenger cars in the world.
The example of Japanese automobile manufacturers also illustrates two additional necessary preconditions for maintaining competitive advantage. First of all, the company must adopt a global approach to strategy. It must sell its products worldwide, under its own brand, through international channels under its control. A truly global approach may even force a company to locate manufacturing and supporting repair and maintenance facilities in other countries to benefit from lower labor costs, to achieve and improve market accessibility, or to achieve the benefits of using foreign technology. Further, creating more sustainable benefits often means that a company must treat existing benefits as obsolete - even if they are still benefits. Japanese car manufacturing companies are well aware of this; the dilemma here is that either they themselves will render their achievements obsolete, or their competitors will do it for them,
As the example above suggests, innovation and change are inextricably linked. However, change is unnatural, at least in the case of successful companies; There are quite powerful forces at work here that seek to avoid changes and protect themselves from them. Past approaches become fundamental to standard operating practices and management. Permanent
advanced training means one right way to do something here; The construction of dedicated manufacturing facilities cements past practices into an expensive foundation, and the existing strategy imbibes the spirit of invincibility and grows roots into the company culture.
Successfully operating companies gravitate toward predictability and stability; they try to defend their achievements. Change is inspired by the fear of big losses. An organization at all levels filters out information that suggests new approaches, modifications, or deviations from the norm. The entire environment as a whole acts like an immune system, seeking to isolate and reject “hostile” individuals who seek to search in directions that deviate from the generally accepted or are inconsistent with conventional thinking. The update dies down; the company becomes decaying; At this stage, it is only a matter of time before active competitors overtake it. The Diamond Rule for a Country's Competitive Advantage
The attributes that each individually and collectively form the basis of a country’s competitive advantages, the space that each state creates and maintains for its industries. These are the attributes.
Conditions for factors. A country's position in factors of production, such as the availability of skilled labor or infrastructure needed to compete in a given industry.
State of demand. The nature of demand in the domestic market for an industry product or service.
Related and supporting industries. The presence or absence in a given country of supplier industries or other related industries that are internationally competitive,
Sustainable strategy, structure and competition. The conditions existing in the country for the creation, organization and management of companies, as well as the nature of internal competition.
These factors determine the emergence of a national environment in which companies are born and learn to compete (Fig. 2.1.). Each of the vertices of the diamond shown in the figure - and the diamond as a whole - illustrates the essential components for achieving success in international competition: the availability of resources and skilled labor is necessary to ensure a competitive advantage in the industry; information that shapes the opportunities that companies perceive and the directions in which they deploy their resources and employee skills; the goals of the owners, managers and individual employees of the company; and, crucially, the company's pressure to invest and innovate.
When domestic conditions permit and support the fastest accumulation of specialized assets and expertise—in some cases simply through greater effort and commitment—companies gain a competitive advantage. When the domestic environment allows for a better flow of information and understanding of the needs for a particular product and production process, companies also gain a competitive advantage. Finally, if domestic conditions force companies to continually innovate and invest, companies not only gain a competitive advantage, but also build on existing advantages over time.
Sustainable strategy, structure and competition
State of demand
Conditions
FOR
factors
Related and Supporting Industries
Fig 2.1

Diversity is a systemic success!

Developing success in Forex

Choosing a Strategy

Self-discipline is the key to a successful trader

Calculated risks, or How to trade more profitably

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