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: 88
  • Joined: 23/04/2020
Nice article there, thanks for sharing it here as it would be very much helpful to me and to others.
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.