OANDA Forex Successful Trading Rules and Necessary Mentality

People who do technical analysis of the foreign exchange market will have a common problem, and they constantly want to improve their analysis system to reach the realm of 100%. When using the trend indicator for the band market, it is found that the indicator will increase the error rate when the indicator is sideways, and then an oscillator is added to assist; The moving average of the period is filtered, thinking that this will improve your profit. Presumably, a lot of people have done this in the course of trading, but instead of seeing significant growth in the account during this period, it stagnated.

Most traders rely on the services of liquidity providers forex. They are the ones responsible for making the market and delivering buy-sell prices to their clients. The liquidity provider’s job is to help brokers and traders manage risk by offering high volumes of liquidity and the lowest slippage. The provider’s reputation also affects the rate at which trades are executed, so it is important to find one that has a good reputation.

 Investing in foreign exchange is less risky than stocks and futures because the foreign exchange has unique advantages. However, if you want to become a successful foreign exchange investor, you must understand the characteristics of foreign exchange, understand the rules of foreign exchange trading, and must have a mentality. The following experiences are valuable treasures that successful investors have exchanged for real money. They are classics and worth cherishing.

 First, trading should be natural and easy.

 Don’t force anything and don’t go against the market or yourself. The perfect deal is like breathing. You inhale and exhale, as in and out. Be sure to be calm and relaxed. Look for those visible opportunities. Be sure to focus and be alert. Get yourself out of the hot market. Be sure to be an observer and wait for the opportunity to come.

 Don’t be confrontational.

 Forex Trading is not a war. The market isn’t after you, it doesn’t even realize you exist. It has no interest in it. Forex doesn’t know you bought them. They do what they do, you just get used to them. The market is your boss. Follow it and get paid, or you resist and get kicked out. Just like you don’t fight the ocean, you just swim in it. If you find yourself in an incorrect trend, don’t try to change the direction of the trend, but instead, look for the appropriate trend

 Do not trade based on revenge or an urgent need for money.

 The Forex market doesn’t know your situation, it’s just a huge space where all the other traders’ actions are connected. It doesn’t reward you just because you need it. You are the one in control. Earning money from the market or losing to other market participants depends on your ability.

 When traders engage in market action, they are putting their money in a cauldron.

 From the moment they start trading, the money is ownerless. Anyone with skill can plunder from it. When traders put their money in, they are ready to lose it. You are willing to take that risk and put your principal on the table, like everyone else. Then don’t feel guilty about winning this cauldron of money.

 It is important to understand that risk is an integral part of trading.

 When you exchange a commodity (banknotes) with a smaller price fluctuation for another commodity (foreign exchange or other trading objects) with a larger price fluctuation, you choose to take a risk. You do this because this price fluctuation is exactly what you need to make a profit. Opportunities always come with risks, and you can’t just take one of them.

 Decide what you want to trade.

 If it’s a trend, go with it. If it is an interval, then operate against the trend. Buy high and sell high in an uptrend, and sell low and cover in a downtrend. In the range, buy low and sell high. If you want to operate a trend reversal, don’t rely solely on price data. Don’t buy just because “it’s cheap enough” or sell because “it’s expensive enough”, you also need a clear rationale.

 Build positive confidence in trading.

 It is important to understand the gains and losses involved in the transaction. An ambitious trading strategy can make you more profitable when you make the right decisions, but it can also reduce the number of times you make the right decisions. The opposite strategy increases your odds of being right but reduces the potential profit per trade.

 Stay flexible.

 Revise your trading system for market changes. Adjust your ambitions and choose the appropriate trading structure based on the current market conditions you are dealing with. Check your actions at any time to see if they meet the current market conditions.

 Whatever setbacks you have in the market, it’s not its fault


 Not the fault of any market maker or professional. Not some mysterious behind-the-scenes manipulator or evil bear. It’s always your fault. You make decisions and implement them. You choose to participate or not to participate. Please take full 100% responsibility. Be yourself. Don’t complain or explain. Responsibility brings control. With complete control over yourself, trading is an absolute test of self-control.

 At first, you may feel cold and uncomfortable, living alone in a fort. In the end, it all pays off when you gain an edge and experience what it’s like to be at the top. Total control over one’s behavior, absolute self-control, is the reward for all efforts. In short, try to be the master of your universe.

For more details Oanda

 Learn to laugh at yourself a little.

 Don’t be too hard on yourself. You don’t have to prove anything to other people. Might as well be the one who laughs at your own mistakes. Don’t try to be perfect, outstanding performance is good enough.

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