How to succeed in Forex for an ordinary person. To succeed in trading, think like a pro. Diversity is systemic success

15.09.2021

Hello dear blog readers! Everyone knows perfectly well that it is not so easy to succeed in the forex market. I think that you have thought more than once why other people get everything perfectly, they earn good money and live for their own pleasure.

For others, the opposite is true, they are constantly forced to count pennies, and deny themselves almost everything and always.

Naturally, you can always find an excuse for yourself: accuse someone of all mortal sins, blame everything on bad genetics, shout that you have no opportunities and no strength, but all these are just excuses in order to avoid active actions that will allow you to break into people .

However, I believe that the matter is only in you, and not in someone or something. Understand that to succeed in the forex market is an extremely difficult task, which only really strong and strong-willed people can do.

Of course, I do not want to talk about pathologically lazy people, nothing good ever awaits such people! To really achieve something, you need to work, constantly improve! Today we will talk about how to achieve success in the forex market in general, how to get close to it.

There is a certain paradox, there are people who spend days at the terminal, they greedily absorb information, looking for something new, but they do not have any positive results.

I want to say that this is quite a common occurrence in the market, which can last for years. And it happens quite the opposite, a person devotes just a couple of hours a day to trading, and profits seem to fall from the sky.

To be honest, from the very beginning I adhered to the first type of development. I could sit near the terminal for days, I constantly read various books and watched video lessons.

During all this time I have spent a huge amount of energy, nerves and money. Apart from trading, I did not notice anything at all, in principle, and could not notice anything.

Perhaps it's my irresistible desire to really secure an independent future. Now my opinion has changed somewhat, I stopped chasing money, I focused on acquiring invaluable experience.

I strive to allocate my resources in the most efficient way, to invest my time and money. On the this moment, I strive to realize myself in several areas that are seriously different from each other.

To be honest, at first it was very difficult to switch our attention, but it is this approach that gives us the opportunity to spend our time with the necessary efficiency.

I am more than sure that if I had immediately started to act in this way, then success in the market would have come to me much earlier.

The unbridled desire for development in different areas turns your success into a system. I am more than sure that even if you have a main goal, development in other areas along the way will motivate you and accelerate the result. At worst, doing only one area is incredibly boring!

Diversity is a systemic success!

Plan your day wisely! If you have many areas of activity, you constantly have to transfer your attention from one thing to another, then you will not do without competent planning.

If you do all this without a competent plan, then by the end of the day you will exhaust yourself, I bet that in such a rhythm you will not last long.

You will always lack the desire to create, of course, you will never have a good mood. A good plan always puts everything in its place, you will always know in advance what to do, and there will be no panic.

A good plan will help you focus on the tasks at hand, you won't just think about what to do.

You have a clear plan - you clearly follow it, competently performing your tasks. It seems to me that when a person has a really vast field of activity and a lot of things to do, in any case, he will come to the conclusion that he will need to clearly plan his actions, there is no way without it.

Yes, you will not be able to devote a whole day to trading, but you can allocate a few hours. But these few hours on the market, you will spend with such efficiency that you never dreamed of!

You will really appreciate every minute, and spend all this time with benefit. Personally, I already certain time I keep my diary, where I enter important things that I would like to do, or have to do.

Of course, I do not write down all the cases, but I always note the most important ones. In general, I clearly realized that if a huge number of new cases are planned, then one cannot do without competent planning! The effectiveness and result of my actions appears only when I plan them!

I recently read a very interesting book on psychology. It says that a person needs to instill a sense of success and striving for it from an early age.

From one point of view, a child can be deceived a little by giving him praise in every possible way, when he even does something wrong.

For example, something goes wrong with him, but you constantly tell him that he is a real good fellow. In theory, this fact over time will develop inner self-confidence in the child, and he will never give up, even in the most difficult situations.

From another point of view, it is possible for a child to say everything directly, and at the same time competently help him solve all problems.

For example, take care of his workouts, cheer him up. Such an approach will give the child a clear understanding that one must be able to cope with any difficulties in life, nothing is given to us just like that.

We develop success in forex

It is extremely difficult to succeed in the forex market! To do this, it is necessary to lead an active lifestyle not only within the market, but also in everyday life.

In our life there are activities that will help us to achieve success in the market. Let's consider:

I often run into boxing training, probably 3 times, and sometimes 4 times a week. You may ask, what does sport have to do with it? In fact, he really motivates you. You know that clearly at a certain time, you must be in a certain place and do physical labor.
Reading. I find that books are especially helpful for traders. I am personally involved various books in psychology and economics, an extra load on the brain does not hurt.
Chat with friends! Well, of course, we are all human and cannot stand loneliness. Never forget about your friends, find time to communicate with them closer! Have fun and enjoy life.

Basically, how to succeed in the forex market is a comprehensive question. On the one hand, you must persevere within the market, but at the same time do not forget that you have an ordinary life that also takes time.

Everywhere in the world, companies that have achieved leadership on an international scale use strategies that differ from each other in every way. However, while each successful company applies its own strategy, the underlying principles of operation - the nature and evolution of all successful companies - turn out to be fundamentally the same.
Companies achieve competitive advantage through innovation. They approach innovation in the broadest sense, using both new Technologies and new ways of working. They learn new methods of achieving competitiveness or find better ways competition using the old ways. Innovation can be in a new product design, in a new manufacturing process, in a new approach to marketing, or in a new way to improve employee skills. For the most part, innovations turn out to be quite simple and small, based more on the accumulation of minor improvements and advances than on a single, major technological breakthrough. Ideas that are not even "new" are often involved in this process - ideas that were literally "in the air" but were not applied purposefully. There is always an investment in skills development and knowledge acquisition, physical assets and brand reputation.
Some innovations create competitive advantage by creating fundamentally new market opportunities or filling market segments that other competitors have overlooked.
If competitors are slow to respond, such innovations lead to competitive advantage. For example, in industries such as automotive and consumer electronics, Japanese companies have achieved initial advantages through special attention to compact, smaller, less energy-efficient models that were neglected by their foreign competitors as less profitable, less important, and less attractive.
In international markets, innovations that bring competitive advantage anticipate both internal and external needs. For example, as soon as international interest in product safety grew, Swedish companies such as Volvo, Atlas Sorghum and AGA were successful in the market, anticipating favorable market opportunities in this area. At the same time, innovations that are unique to the domestic market may even interfere with international competitive success. For example, the lure of a powerful US defense market has diverted the attention of US material, tool, and machinery companies away from attractive global commercial markets.
In the process of introducing innovations and making improvements, information is of great importance - information that is either not available to competitors or they are not looking for it. Sometimes innovations are the result of simple investments in research and development or market research. More often, innovation comes as a result of deliberate efforts, from openness and finding the right solutions without being blinded by any assumptions or stereotyped common sense.
For this reason, innovators often find themselves on the sidelines of a particular industry or country. The innovation may come from a new company whose founder has an unconventional background or who simply has not been recognized by a long-standing, well-established company. Or the ability to generate new things can come to an existing company through senior managers who are just starting out in the industry and are therefore more able to sense new opportunities and strive to achieve them. Innovation can also arise from expanding the scope of a company's activities, bringing new resources, skills, or perspectives into a new industry. They may come from another nation, with other conditions or methods of competition.
Except in a very few cases, innovation is the result of extraordinary efforts. A company that successfully introduces new or better ways to compete pursues its goal very relentlessly, often going through serious criticism and overcoming significant obstacles. In fact, success in an innovation usually requires pressure, awareness of the need, and even a certain aggressiveness: the fear of loss is often even more powerful driving force than the hope of gain.
Once a company achieves competitive advantage through innovation, it can only maintain it through continuous improvement. Almost any achievement can be repeated. Korean companies have nearly matched their Japanese competitors' ability to mass-produce standard color televisions and VCRs; Brazilian companies have formed technological processes and developed designs comparable to competitive Italian molds producing special types of leather shoes.
Competitors will immediately and surely overtake any company that stops improving and innovating. Sometimes initial advantages, such as customer relationships, economies of scale in existing technologies, or reliability of distribution channels, are enough to allow an inert company to hold its own for years or even decades. Sooner or later, however, more dynamic competitors will find ways to circumvent these advantages through their innovations, or create better or cheaper ways to do the same business. Italian appliance manufacturers, whose products competed successfully with other firms on the basis of the cost of selling medium and compact appliances distributed through long chains of retailers, settled for too long on this initial advantage. Having developed more differentiated products and secured strong commodity trading privileges, their German competitors began to reclaim these areas.
In other words, there is only one way to maintain the achieved competitive advantages - they must be constantly improved, moving towards more complex forms. This is exactly what the Japanese car manufacturers have done. They first entered the foreign market with small, inexpensive, compact machines of adequate quality and competed on the basis of lower labor costs. Even though the advantage in labor costs continued to exist in the future, Japanese companies did not stop improving their production. They actively invested in the creation of new modern factories to achieve large-scale production. This was followed by process innovations that provided leadership in the creation of new, timely products, as well as the introduction of other practices to improve quality and productivity. This improvement in the production process led to more high quality products, improve service and increase the rating of companies in terms of customer satisfaction in comparison with foreign competitors Q. Subsequently, Japanese car manufacturers have taken a leading position in production technology, and now they are launching products on the market under new, very fashionable trademarks, - products that compete with the world's most prestigious passenger cars.
The example of Japanese car manufacturers also illustrates two additional prerequisites for maintaining competitive advantage. First of all, the company must take a global approach to strategy. It must sell its products worldwide, under its own brand name, through international channels under its control. A truly global approach may even force a company to locate manufacturing and ancillary repair and maintenance facilities in other countries to benefit from lower labor costs, to achieve and improve market accessibility, or to take advantage of the use of foreign technology. Further, creating more sustainable benefits often means that a company must treat existing benefits as obsolete - even if they are still benefits. Japanese car manufacturing companies are well aware of this; the dilemma here is that either they themselves will transfer their achievements to the category of obsolete, or competitors will do it for them,
As the example above shows, innovation and change are inextricably linked. However, change is unnatural, at least in the case of successful companies; quite powerful forces are at work here, seeking to avoid changes and protect themselves from them. Past approaches become fundamental in standard working methods and in management. permanent
advanced training indicates one correct way to do something here; the construction of dedicated manufacturing facilities cements past practices into a costly foundation, while the current strategy imbibes an air of invincibility and is rooted in the company's culture.
Successful companies gravitate toward predictability and stability; they try to protect their achievements. Change is inspired by the fear of big losses. The organization at all its levels filters out information suggesting new approaches, modifications or deviations from the norm. The environment as a whole acts like an immune system seeking to isolate and reject "hostile" individuals who seek to search in directions that deviate from or are inconsistent with conventional thinking. The update is fading away; the company becomes decaying; at this stage, the question of when it will be surpassed by active competitors is only a matter of time. Diamond Rule for Country Competitive Advantage
Attributes that, individually and collectively, form the basis of a country's competitive advantages, the space that each state creates and maintains for its industries. Here are the attributes.
conditions for factors. The country's position in factors of production, such as the availability of skilled labor or the infrastructure necessary to compete in a given industry.
The state of demand. The nature of domestic demand for an industry product or service.
Related and supporting industries. The presence or absence in a given country of supplier industries or other related industries that are internationally competitive,
Sustainable strategy, structure and rivalry. The existing conditions in the country for the creation, organization and management of companies, as well as the nature of internal competition.
These factors determine the emergence of a national environment in which companies are born and learn to compete (Fig. 2.1.). Each of the vertices of the diamond shown in the figure - and the entire diamond - illustrates the essential ingredients for success in international competition: the availability of resources and skilled labor is necessary to ensure competitive advantage in the industry; information shaping the opportunities that companies perceive and the directions in which they use their resources and the skills of their employees; the goals of the owners, managers and individual employees of the company; and, most importantly, the pressure the company is under to invest and innovate.
When the domestic environment permits and supports the most rapid accumulation of specialized assets and expertise—in some cases simply because of greater effort and commitment—companies gain a competitive advantage. When the domestic environment provides a better flow of information and understanding of the needs for a particular product and manufacturing process, companies also gain a competitive advantage. Finally, if the domestic environment forces companies to constantly innovate and invest, companies not only gain a competitive advantage, but build on existing advantages over time.
Sustainable strategy, structure and competition
State of demand
Terms
FOR
factors
Related and supporting industries
Figure 2.1

Three key factors

There are three components due to which a trader reaches a stable income:

Strategy with positive expectation;

The right choice of volume in accordance with safe risk management;

The psychology of a trader.

The average trader ignores one or even a couple of these factors. But even good traders make mistakes, hindering their development. How this happens is described below, where attention should be paid to the psychological reaction when working with a strategy and choosing trading volumes.

How to use the strategy

When choosing a trading strategy, it is considered sufficient if it gives more profitable signals than unprofitable ones. If there are 60% positive signals and 40% negative signals, then this is a system with a good mathematical expectation. It would seem that this is success, but no, Forex traders manage to drain deposits even when working with such a trading system. The question naturally arises why?

The problem is psychology. We are taught from childhood that we need to be right in 9 out of 10 cases. If the child is right in 6 cases out of 10 (the same 60%), then he is labeled “loser”. It seems cruel, but that's how the education system is built, instilling this reflex through punishments in the form of poor grades and ridicule from peers.

The desire to be right is instilled at the level of instinct. This plays a cruel joke on traders who pay money for this reflex when they pull moose, rearranging stops or averaging. At the same time, a trader who does not have such a hidden complex can make millions on strategies where there is only a 30-40% chance of successful transactions! This is in the prevailing case of trend trading systems, where the profit potential is many times higher than the losses.

It turns out that the success of Forex trading accompanies if you enter the transaction correctly and exit it in a timely manner. If you look at the statistics of beginners, they are fixated on finding the moment to enter, but when managing positions, they make a lot of mistakes, often closing incorrectly. In some ways, they are like a drunk driver of an expensive foreign car, the car is either good or bad, which in most cases ends in disaster.

The problem is exacerbated by various unscrupulous courses that beginners are so greedy for. The negative impact of such "study" is that traders are shown examples of successful transactions, where the entry conditions are ideally observed. Moreover, the feet are usually not given enough attention, simply indicating that they should be. But when a trader is forced to watch how a loss is fixed, then this causes him great mental pain. The protective reaction of the body in such cases will be to delay this unpleasant moment. This is how losses drag on, which lead to irreparable losses.

Reasons for incorrect closing of transactions

To assess the degree of your preparation for the correct actions with a trading strategy, it is enough to answer two simple questions:

Which is better: lose 900USD with 100% probability or agree to lose 1000USD with 95% probability with the condition that at 5% it will be possible to avoid losses altogether?

Which is better: getting 900USD with a 100% chance, or accepting a 95% chance of getting 1000USD with a 5% chance that you will not be able to make a profit at all?

According to statistics, in the first case, most of the respondents preferred to take risks and agreed to a 95% chance of losing 1000USD, counting on a 5% chance to avoid a loss. It's wrong if we are talking not about a one-time event, but about stable and long-term work, since the mathematical expectation of average losses in the future with this choice will be 950 USD! Therefore, you need to adhere to the golden rule of trading and cut losses immediately, and not expect that you might be lucky and the market will turn around, allowing you to avoid losses.

For the second question, most of the interviewed traders chose the guaranteed 900 USD. As they say, a bird in the hand is better than a bird in the sky. But this is wrong. The mathematical expectation of profit with a 95% probability of 1000 USD allows you to expect an average of 950 USD of income, which is higher than the proposed 900 USD. That is, here it is more correct to let profits grow, and not to miss what the market gives.

Every good trading system provides that the stop will be short and should not be extended, and the profit should accumulate, amounting to percentage to possible losses of at least 2 to 1, and preferably 4 to 1 and higher. Options 1 to 1 and 2 to 1 are used for scalping, but these are difficult strategies that require endurance and a certain psychological character. Therefore, it is better for beginners to wait for the opportunity on the daily timeframes, where the signals are clearer, and the profit is in the hundreds and thousands of points!

Correct determination of the working volume

At all times, a trader's path to success and profits in the Forex market has been directly related to competent risk management. But it’s not enough just to choose the volume, calculating it from the deposit, you need to be able to control yourself, avoiding disruptions. Most often, traders make three critical mistakes.

1. Small deposit. AT recent times brokers allow you to open a trading account with almost 1 USD. Therefore, some beginners try to work with a measly couple of tens of dollars. Unfortunately, adequate risk management, if we are not talking about a cent account, is impossible in this case. So it should be understood that this style of trading is just a game of all-in and has nothing to do with quality trading.

2. The problem with the choice of volume. Despite the fact that much has been written about the importance of risk management, some traders simply do not know how to calculate, not knowing how to calculate the acceptable percentage of risk. Recall that in the classical interpretation it is 2%. That is, if there is 1000 USD on the account, then only 20 USD is allowed to be jeopardized in one transaction! If the strategy allows a stop loss of 20 points, then with a risk of $20, the volume of the trading position should be 0.1 lots. If the stop is longer, for example, 40 points, then you need to reduce the volume to get 0.05 lots. Only with such a cautious approach does a trader painlessly survive a series of unsuccessful trades, easily recovering losses and earning in excess of them.

3. The third problem deserves detailed description and is associated with passion. Even many traders who understand the soundness of the case for cautious trading still sin and allow themselves to falter. The situation usually develops as follows. Realizing that the strategy gives, for example, 6 out of 10 profitable trades, the trader concludes a trade for an adequate volume. The trade ends with a stop and the trader suffers a loss. The situation is repeated a second and third time. Then, on the basis of stress from loss, destructive thoughts penetrate the head. For example, the strategy gave 3-4 unsuccessful deals in a row, which means that the probability of success increases, since there are more profitable signals. Therefore, you can take a chance and increase the volume to cover all the minuses and fight back!

The appearance of some situation that is perceived as very correct, and therefore guaranteeing profit, can also lead to such conclusions. But in this case, you need to remember - anything can always happen in the market. He does not owe anything to anyone and a strategy that gives 6 out of 10 profitable signals cannot ensure the appearance of a successful transaction after 4 unsuccessful ones.

To think otherwise is a crime in relation to your deposit. This is not the way traders think, but gamers who perceive working on Forex as a variant of a casino or slot machines. A real speculator always follows the rules of his own system, because only in this way he provides himself with the conditions for development, improvement of the trading approach and profit in the future.

Such a simple trading psychology will allow you to succeed in the Forex market, the secrets of success are only in the right attitude towards trading and yourself in it. With such a conscious approach, the issue of achieving professionalism is a matter of a short time.

Absolutely all traders, from beginners to professionals, throughout their careers are wondering what needs to be done to maximize their profits. We are ordinary people who have chosen binary options and Forex as a means to generate additional income. But there are also people who have hundreds of thousands of dollars as a trade turnover! What makes us different from them? Why can't we make money too?

Many traders begin to think that the rich and successful have some secret, a unique indicator or a one and only strategy that does not bring losses, but only profit. Beginners also begin to rush about in a constant and, as it turns out, meaningless search for that very ideal indicator. And in the end, everything turns out to be simple - you need to learn how to think like a professional!

Successful traders control only themselves, not the market

The market is not subject to anyone. Remember this once and for all. Only discipline and complete self-control will lead you to success. The market will always provide you with the perfect moment to enter, so don't open countless trades. To consistently earn on binary options, you do not need to constantly be in the market.

You need to be restrained, be able to wait and wait for that wash of a successful transaction. Successful professionals have become such because they know how to wait for the perfect deal. They never buy options when absolutely all points of the trading plan are not met.

The ability to wait and self-control is your key to success! It is important to be able to plan your trading day, schedule it in advance and make a preliminary analysis of the market situation. This will allow the market to provide you with the perfect moment, rather than making wasted trades in the hope that one of them will close profitably.

Trading plan above all else

This is the most common and stupid mistake among beginners. They point-blank do not want to comply with the terms of their trading plan. Due to their inexperience and lack of restraint, they begin to prematurely open transactions.

Remember - this always leads to the drain of the deposit. In trading, you should never rely on chance and hope that suddenly you are lucky and the market will turn in the right direction. Traders until the last hope that even in case of an incorrect forecast, the price will still go where it should. And they don't close the deal until the very end. They just don't want to admit defeat. And if everything is soberly analyzed and closed ahead of schedule, then the losses will be less.

No one has ever predicted the future dynamics of the market with 100% certainty. Successful traders never hold a losing trade to a winning trade in the hope of a market reversal. They know how to accept failures, draw a conclusion from this and work on.

If you correctly draw up money management, then in case of early closing of a losing trade, the next profitable trade will more than cover all losses and the trader will remain in profit. You should not have any doubts about your prediction. If there is even the slightest doubt, close the deal.

Your thoughts determine your future trading

It is your current thoughts that determine the future success of your trading. Your main task is to learn to accept failure. You can’t do without losing trades, this is an integral part of your work, just put up with it. There are no holy grails in the form of win-win trading strategies or indicators.

It is extremely important to learn how to psychologically prepare in advance for future losses and accept them. You must also stop treating the market as a source of money to meet your needs. If you trade solely for the sake of money, then greed can eventually destroy you, overshadow your mind and lead to a drain on your deposit.

Remember - patience and self-control will lead you to success. It doesn't happen otherwise. You must be persistent and learn to accept mistakes as an invaluable experience from which you will learn to make even more successful trades in the future.

Now Forex has become very widespread and popular among ordinary people due to its availability. The Internet is full of loud and tempting headlines about high earnings in Forex. Beginners in search of additional income are increasingly asking themselves the question - can they learn to trade without proper education and experience, and how can an ordinary person succeed in trading?

Many people, do not bother to learn the basics, are eager to fight and immediately drain their deposits. Before you start trading with real money, you need to learn and understand the initial rules of trading. This is not difficult in the age of high technology and the Internet. Therefore, answering our question - yes, an ordinary person can also earn big money on Forex along with professionals. You just need to study the theory, choose a reliable broker, draw up a trading plan and develop a strategy. And as always, you need to be very patient and persistent. This is the only way to succeed not only in Forex, but in any business.

The path to success in Forex

Forex is a global currency exchange where currencies are bought / sold different countries peace. The Forex exchange operates around the clock for five days a week, except Saturday and Sunday. There are three main advantages of working on Forex:

there is no need to sit at the workplace for 9 hours at the office, you can work remotely from anywhere in the world.
the trader himself fully controls the profit and loss, which means he can plan all the risks in advance.
flexible work schedule allows you to devote more time to family and personal life.

Really make money on Forex, the exchange has existed for more than a dozen years and has earned respect from market participants. The amount of your earnings will directly depend on the size of your starting capital. The larger it is, the higher the profit. Naturally, with 100 dollars in one day you will not be able to earn a million, only hard work and composure will help you with this!

Novice traders will have to be patient and put in a lot of effort. Education is the foundation of your trading career. Therefore, do not be lazy and attend courses, read literature on the Internet, communicate with experienced players on forums, attend webinars. All of this is now available online.

An ordinary person should not immediately open a real account, for starters, a demo is enough. Here you can get acquainted with the market, study the trading platform, test the strategy. And then you can start real trading.

A very important step towards successful trading is choosing a reliable broker. Perhaps this is even more important than the ability to trade. Since if a scammer comes across who then refuses to pay you money, then even with successful trading you will not be able to withdraw earnings.

It is worth paying attention to the performance of the platform - so that there are no slips and freezes. Poor quality brokers will have a bad effect on the success of your trading.

When choosing a broker, pay attention to the following aspects:

the experience of the broker - the more he is, the more reliable.
availability of licenses from regulators in the country in which the broker operates.
round the clock technical support.
variety of account types, tariffs and trading conditions.

For a beginner to be successful, it is not necessary to have a profile higher education. Millions of people around the world have learned to trade profitably on their own. You are not born a trader - you become a trader. Trading psychology is a very important aspect. This is a whole science that needs to be learned. Discipline is very important in trading, so you must develop this quality in yourself from the very beginning, otherwise you risk failure. Trade coolly, without emotions. Closed the deal in the red - forget about it and trade further. Closed the deal in the black - forget about it even faster. Otherwise, greed and euphoria can overshadow your mind.

After you need to draw up your trading plan and strategy, on the basis of which you will conclude transactions. Now on the Internet you can find a great variety of strategies that are ideal for beginners. They are easy to understand and do not require deep knowledge of technical and fundamental analysis. With them, you can start your acquaintance with the world of Forex, accumulate your capital, and then, continuing your education, move on to larger transactions. In your trading plan, such important points as the amount of the transaction, the possible loss per day that you can tolerate, and so on, should be spelled out.

And last but not least. Every day before the start of trading, take at least 5 minutes to analyze the market from a technical and fundamental point of view. Then you will feel the market and make profitable trades.

This is how you start your journey of financial independence. But do not forget about training and practice, because only they will allow you to succeed in Forex!