What is the main reason behind a person not being able to trade like a professional trader? What discipline and knowledge he or she is missing? If you have read the second episode of Just Found An Answer About Forex Trading, you must have known some facts and myths to avoid. This article discusses more elements with a specific outline as being the last episode of this article saga.

MFX Center Exclusive Article Saga

So, the last episode was a digestive one but this one, I am pretty much sure you might have to taste a few HAJMOLA to digest cause I am going to discuss something out of the box today.

Just Found An Answer About Trading Psychology

source: dailyfx.com

Though I am not having the best days of my life, seeing worst nightmares in the daylight with the study, income sources as well as my personal life as well. So, this time I am pretty sure, I am not ready for trading the market myself but why I am telling you this? Cause these are the situations when you should avoid trading and try to relax or refresh yourself.

I have always been telling everyone that keeping the trade simple is the only way to make a profit. But how?

It’s like having a cup of tea. Yes, of course like that. No, I am not joking. What traders are doing nowadays? Trading ya right. No, they are gambling. How? Have you ever been to NEW YORK stock exchange or ever seen a trader of course who is a damn professional and how he trades? I have not been to NYSE but I have encountered some of the worlds finest traders around me. What we personally think and what they think is quite different. Yes, they mean trading as a serious business but we think like a money maker. Trading is a money maker, no doubt but are you making money or losing it?

The answer lies in your head friend. You are not taking it seriously. Now, how to be a professional? It’s pretty simple as it doesn’t sound actually.

Build Yourself as a Professional Trader

source: opportunitydesk.org

There are few rules I personally follow and observed various professional traders around:-

1. Never trade too much

2. Always look for entry nearer to resistance or support

3. When the market is giving you losses, don’t trade or take a leave. This thing did make me regret so don’t try to over trade when losing. It’s my personal experience when I overtrade I always lose more.

4. Don’t enter a trade without a valid setup and if the setup is not respected by the market then don’t disrespect it, have patience and wait for the next milestone move.5. Fundamental news or events are not important. WHAT did I just say??? Yes, it’s true. If you are following the market and can talk with the charts, your chart will tell you where the market will go after high impact news. It’s Proven.
6. Never do news trade, cause once I saw a time when I earned my living with only news trading but the time has changed my friend, its a new revolution going on in the market.
7. When the market is volatile don’t ever try to trade rather sit back home and relax, it’s better to have some money in the account rather than losing them.
8. The market can go anywhere, be prepared for your losses. Don’t risk money which you can’t afford to lose.
9. If you don’t have $10000+ in your account don’t try to trade for a living.
10. If you are following someone, make sure he is not over-trading.
11. Always use stop loss and make sure to place your stop loss above resistance or below support.
12. Always try to find out key levels it will help you to set your objectives.
13. Don’t make your chart hazy, try to see it clear and clean. Use a few indicators or if you are a price action freak try to read the candles.
14. Be confident and try not to close any order before the expected levels are hit.
15. Take time and trade less. It will help in the long run. Always try to have a long plan and try to achieve it step by step, don’t try to jump up.
16. REMEMBER YOU ARE THE CREATOR OF YOUR OWN DESTINY SO, WORK ON IT. DONT WAIT FOR A MIRACLE, CAUSE THE PERSON WHO CAN CHANGE YOUR LIFE IS ONLY YOU AND YES OF COURSE WITH GRACE OF ALMIGHTY ALLAH.

MAY ALLAH BLESS US ALL.

Many traders requested me how I trade? By keeping me in the market. More questions and interesting facts coming soon. Stay tuned to MFX CENTER. To learn how we trade and make profits like professionals do join MFX University today.

Thanks for being with MFX

MD. Rockybul Hasan

Chief Analyst, Founder and Trainer

www.mfxcenter.net