Tips For A Successful Active Forex Trade - Part 2

Provided By Ultimate Trading Systems

More Steps To Ensure Your Active Forex Trade Success

In the first article in this series, I passed on several tips to help you become more successful with an active forex trade. Some of them are from my personal experience as a trader and a trainer, and some of them are trading truisms. But a trader cannot succeed on tips alone. You need a well-developed active forex trade system that works for you. With a good active forex trade system in place, and the discipline to follow it, you can use these tips to keep you on the road to trading success. Let’s start where we left off in the last article.

12. Don’t worry about missing out on an opportunity to active forex trade. There will always be another good one just around the corner. If the active forex trade you are considering doesn’t meet all your entry signals but it seems to good to pass up, remember, you’re never going to run out of trades you can make.

13. Don’t get too confident. No one can predict the active forex trade market with 100% accuracy. You need to always expect the unexpected. If you become uneasy, or the market becomes choppy, exit your trades.

14. Don't turn three losing active forex trades in a row into six. When you’re off, turn off the screen, do something else. Often the best way to break a streak of consecutive loses is to not trade for a day.

15. But, don't stop trading when you’re on a winning streak.

16. Measure your success by the profit made in a day, not on a active forex trade. It’s even better to measure it over two or three days. A successful trader’s goal is to make money, not to win on every active forex trade.

17. Scalpers reduce the number of variables affecting market risk by being in a position only for a few seconds. Day traders reduce market risk by being in an active forex trade for minutes. If you convert a scalp or day trade into a position trade, you probably didn’t analyze the risks of the trade properly.

18. There is no secret to understanding the active forex trade market. You can spend much of your valuable time and money looking for these kinds of secrets. It’s better to take the time to create a solid active forex trade system, and realize that the secret to success is hard work.

19. Never ask for someone else's opinion, they probably didn’t do as much homework as you did anyways.

20. When the active forex trade market is going up, say it out loud. When the market is going down, say that out loud too. You’ll be amazed at how hard it is to say what is going on right in front of you when you want it the active forex trade market to be doing something else.

21. If you were bored and started drumming your fingers while you read these tips you may share a couple of characteristics with other traders. You may have traded long enough to recognize that you (not the active forex trade market) make mistakes, and you try to overcome them.

And last, but not least. If you wanted to check the active forex trade market while you were reading this article, you have become a trader, and you will be happiest when you are taking part in the market. No matter where life takes you, you will always check the market and you will always be a trader. These tips, and a good active forex trade system, will help you be a successful one.

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