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Thursday, September 11, 2008

My First FOREX LIVE Trade...

Finally after six months of trading on the Demo Account, I start my LIVE trade. Did not get a good trade though, well this is trading isn't it... you lose some and gain some. Just need to learn and have a proper mindset to be a good trader.

Sharing with you the 7 habits of successful traders
1. Master your own psychology and the psychology of the market.
2. To be a successful trader, you don't have to be right all the time.
3. Trade only when ALL the criteria are met & DON'T hesitate when it is.
4. Always put a stop-loss.
5. When the trade hit stop-loss. Accept you are wrong and move on.
6. Never hope, pray or wish market goes your way. Trade on a system, never on prediction.
7. You should DEMO Trade for at least 3-6 months before you even think about trading LIVE.

Trading FOREX is really not as simple as we think it is. However, I believe as long as we continue with a right mindset, we will trade better... A screenshot of my account history...

First trade was a loss, followed by a gain but when I tried the FOREX 104 method, I lost again... Way to go!!!

2 comments:

  1. I wish you well in your trading adventures. I am going to use some funds I earn from the internet. I would not be trading with my money.

    ReplyDelete
  2. Thanks iwrite. Maybe we can share some tips along the way. ;p

    ReplyDelete