LandOfCash Forex expert advisors, Trailing EA, Indicators.

Forex Trading Expert Advisors (EA or automated trading system) and Custom Indicators (CI) for MetaTrader Platform.

LOCTrailing With Partial Close Expert Advisor protect your orders profit. Trail stop level for manual and automatic orders with different algorithms, move stop loss into breakeven.

LOCInfo Custom Indicator follow the simple rules and make the right decision when to buy or sell. View Moving Average, Stochastic indicators from multiple time frames in one place.

painofhell
  • Posts: 1381
  • Joined: 25/09/2016
Principles of success

I think many of traders are too much restricted with fundamental and technical analysis. As a trader, most challenging business in the world, one has to educate himself in strategic and tactful leadership. I would like to share one of the middle age principles that established by samurai, Miyamoto Musashi who lived over 350 years ago in 1643.

Later the book was adopted to business language by Donal G. Krause His approach and strategies was studied effectively by western and modern Japanese competitive businesses.

These tactics are based on seven principles of competitive success where it is applicable to any business including forex trading.

These principles are:

1. Ordered Flexibility

The ideal of ordered flexibility is summed up in the concept of “positioning without position”. It means basically, preparation, assessment and observation of current condition and readiness to act and respond easily to changing environment. In forex, we have to do our homework properly before the trade execution.

2. Execution

Must be well prepared for the windows of opportunities with patience, order and flexibility. Take the moment of advantage. In forex, it basically means, plan the trade and when opportunity comes trade the plan.

3. Resources

It is basically means gathering information and know the situation before mobilizing your action. In forex, one has to make both fundamental and technical analysis, know the positioning of bigger institutions and know where the money flow is directed.

4. Environment

Based on the resources, environmental situation make decision of strategy like offensive, defensive or neutral. Know the dynamics. In forex, it means based on the current situation, choose the appropriate strategy whether shorting, buying or range trading.

5. Attitude

Train yourself to be calm and observant. In forex, it means be free from fear and greed. Do not excessively use leverage exposing yourself to the risk.

6. Concentration

It is ability to focus and feel the rhythm and use the competitive advantage of environment.

7. Timing

Action must be taken at the right time.
Open Account: Real / Demo
www.instaforex.com 
Elena Watt
  • Posts: 136
  • Joined: 23/04/2020
Nice article there, thanks for sharing it here as it would be very much helpful to me and to others.
Prince Sajir
  • Posts: 44
  • Joined: 25/01/2022
Here I figured some best key points on how you get success in trading. Just take a look on it:

  • Always Use a Trading Plan


  • Treat Trading Like a Business


  • Use Technology to Your Advantage


  • Protect Your Trading Capital


  • Become a Student of the Markets


  • Risk Only What You Can Afford to Lose


  • Develop a Methodology Based on Facts


  • Always Use a Stop Loss


  • Know When to Stop Trading


Thanks for reading!


Discover one of the leading Forex trading platform- AssetsFX ! 
Elena Watt
  • Posts: 136
  • Joined: 23/04/2020
Warren Buffett mentioned two basic rules of trading: first - never lose money; second - remember the first rule. Attach a note to your computer reminding you that you must abandon small losing trades without regret and don't expect bigger losses.
Elena Watt
  • Posts: 136
  • Joined: 23/04/2020
The main principle of foreign exchange trading is to buy a currency at a lower price and sell it at a higher price, profiting from the difference. But despite its speculative nature, Forex is not a game of chance. This is serious work and has become a steady source of income for many traders.
Prince Sajir
  • Posts: 44
  • Joined: 25/01/2022
Start with these six mindset principles of successful people:

1. Keep your word to yourself.
When you do what you say you’re going to do, you build self-respect and a positive identity. Successful people understand that every time you break the promises you make to yourself, you feed your identity as an impostor and weaken your self-confidence as a person of action.

For example, if you commit to exercising 30 minutes each day, then do it. Regardless of the outcome, your character is being positively molded, and that will generate momentum along your journey.

2. Use envy to your advantage.
Wanting something you don’t currently have is a behavior rooted in your DNA. But just because it’s a normal feeling to have doesn’t mean you can’t control it or leverage it to your benefit. Successful people understand that beneath the layers of envy lies a core need they desire.

Ask yourself why you feel envy. If it’s money, for example, what would that money represent for you? Most often, it’s time and freedom. Once you know the root cause, you can address ways to gain the things you want, like time and freedom, right now while building your dream.

3. Have no self-pity.
One of the big differentiators between those who stay the course along the journey of personal growth compared to those who get off track lies within the ability to rebound quickly from setbacks. Successful people understand that life isn’t fair and that they’re not entitled to anything. They also understand that wallowing and making excuses for themselves only zaps their personal power.

When you blame external circumstances, you’re effectively giving your personal power away. The key in life is not what happens to you, but how you react to what happens to you.

4. Understand that ‘failure’ is feedback.

Failure is about perspective; there is no such thing unless you deem it that. Successful people understand that failure is an illusion created inside their minds, and they perform mental alchemy to construct an empowering reality instead. When successful people chase after a goal, two things can happen: They achieve their desired result or they get feedback.

Falling short of your goal isn’t a failure, it’s a lesson you can use for next time.

5. Operate with an investor’s mentality.

Just as the stock market will experience fluctuations, your personal journey will experience its peaks and valleys. Investors who stay long term with their investments despite this are often rewarded for their patience. This same logic applies to your personal development. Successful people understand that emotions and outcomes rise and fall along the way.

The key is to stay the course and view the journey as a marathon, not a sprint. Operate with an investor’s mentality and delay gratification today for something great tomorrow.

6. Fixate on the vision, but be flexible on the details.

Think of your goals as the destination and the various actions, habits and strategies as your vehicles. Numerous potential vehicles can help you arrive at your desired destination; the key lies in finding the right ones uniquely suited to you. Successful people are stubborn with what they want, but they understand that arriving at the end destination will involve detours and unexpected side roads to explore. What gets you to point A won’t necessarily get you to point B.

As you keep growing and progressing, you need to continually evolve and be open to new ideas. If you don’t or aren’t, then you could miss opportunities and further extend your timeline.
Discover one of the leading Forex trading platform- AssetsFX ! 
queenaurora
  • Posts: 206
  • Joined: 23/01/2021
One of the keys to successful trading is making good planning. Planning in Freshforex trading is very important, but its execution must be considered. We must also be prepared with various plans when facing an uncertain forex market.
Nathan
  • Posts: 16
  • Joined: 04/01/2022
A very important factor in trading is risk compliance. If you constantly trade with risks, then the profit will be very good, since the risk will be 1% of the deposit, and the minimum profit trade can be 3-5%.
Elena Watt
  • Posts: 136
  • Joined: 23/04/2020
The main principle of foreign exchange trading is to buy a currency at a lower price and sell it at a higher price, profiting from the difference. But despite its speculative nature, Forex is not a game of chance. This is serious work and has become a steady source of income for many traders.
Users browsing this topic
    Forum Jump  
    • You cannot post new topics in this forum.
    • You cannot reply to topics in this forum.
    • You cannot delete your posts in this forum.
    • You cannot edit your posts in this forum.
    • You cannot create polls in this forum.
    • You cannot vote in polls in this forum.