Only have basic knowledge about forex commodity trading is not enough to guarantee your success in this commodity bussines. To be a successful forex commodity trader there are several point that you must have. Let discuss this one by one that i think you should have to be success.
1. Trading Strategy
I believe that every forex trader should have a good strategy or system that allready tested before, without having good strategy you will never successful in forex trading. If you allready have one good forex trading strategy that make profit i suggest you to stick with it and dont change you strategy just because anyone tells you that there are another strategy that can make you rich.
2. Money Management
Money management is very important if you wanna success with your forex commodity trading. I have seen many trader failed because they dont manage their money to trade and all they can say is "oh i shouldn't risk that much for this trade". Control your money and don't let your money control you.
3. Stop Loss
Allways use stop loss in every trade. If you not using stop loss it means you playing 50:50, don't ever let the loosing trader become bigger there is allways another trade to make.
4. Indicators
Find indicators that suitable for you. Never make a trade just because of your feeling tells you to. Even simple Moving Average indicator can make profit for you if you know how.
5. Analysis
Make your forex trading analysis before and after the trade. By doing this you know the reason why you make profit or losses in a trade.There are many more point for you to be a successful forex commodity trader that i don't mention in this article. If you thought one feel free to give it by make comment.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment