Trade in the financial markets is almost always accompanied by high emotional rise, which is not always in the hands of the bidders. Emotional trading can be equated with poor self-discipline, however, each trader has a chance to take simple and effective steps to overcome this bad habit. In this article we will share eight simple ways to trade that will help you to stop worrying and start successful trading in the financial markets.
1. Follow the numbers, not emotions
It is understood that when trading you can only guess on what the outcome of the transaction before it is closed. Make the transaction on the fact of good trade setups. It often happens that traders don't use the opportunities they provide tools and technical analysis. That's when the emotions prevail over common sense, then assumptions and trying different scenarios significantly reduce the likelihood of a successful transaction. It is understood that your goal is to get a trading signal to enter into the transaction and move away from the computer. Excessive experience and reflection can lead to loss of capital.
2. Stop to focus on the news
Any movement of the market is clear on the chart, in fact it is the most accurate measure all the variables that affect a market at any time. Intelligence, news and fundamental factors pushed you to excessive thinking and dwelling, and most important, distracting you from the price patterns and technical signals. As soon as you stop to follow the news to make trading decisions becomes much easier.
3. Follow your trading plan
To enter the currency market without a clear trading plan is a bad idea, which is often doomed to failure. All methods of control and how to invest should be clearly stated in your trading plan, because thanks to it you will be able to reunite all parts of the sales process together and to continue trading in a positive way.
4. Develop market intuition
Do not confuse market intuition with everyday. The bottom line is that the market intuition does not occur suddenly. In other words, your market intuition is the experience that comes thanks to the monitor time, number of the made transactions and analyze trade signals. Because the human brain is designed in such a way that based on the experience you become able to confirm or deny what is shown on the chart.
5. Do not try to spend all my time for trade
Overtrading - this is not good, though sometimes you need to step away from the computer monitor for a long period of time. If you spend time in the auction, there is likely to succumb to excessive speculation, which will lead to unexpected trouble. Get plenty of rest.
6. Learn how to control myself
Your main objective in trading is a disciplined implementation of its market advantages. We are all human beings, so self - mastery is not an easy task. At the time of writing a trading plan, you need to make a separate point, which will indicate when and how you will leave your work place. Be prepared that you will miss profitable trades and that's fine.
7. Don't be afraid to trade
Understand that you will not be able to control the market as much as do not like. It is an attempt to control the market best explains why most of the traders are losing when trading in the financial markets. It is understood that the only thing you can control is your own actions: risk in your trades, placing stop orders, the size of your trading positions, points of entry and exit from the market and so on. When you learn to control the amount of risk - this will allow you to make potential loss in any transaction, and trade will become much easier.
8. Stick to established strategies
Self-discipline is manifested in the fact that the trader adheres to its policies of conclusion and performance of the contracts even after the entry into the market. If you notice that after closing a trading position, you immediately open another - it's time to stop, because this is not trade, but a real gamble. Remember that your market advantage should be realized in a series of transactions, and you can't know in advance how a specific transaction among them will be winning or losing. If you close trades before they can be fully realized, it will undermine their market advantage, and it never leads to anything good.