martes, 28 de julio de 2009

Keys to Make Money when you Trade

One of the things that I am hearing more and more these days is that traders are not making money consistently.

What to do to make money consistently?
  1. Deal with your trading as a business. If you think your tading is a hobby then you will produce money as a hobby not as a business.
  2. Have a writen plan that matches who you are. You need to make a plan that matches who you are, if not it will fail, because you will not follow it.
  3. Have a money management in place. So you can manage risk and gain more capital.
  4. Create your own daily routine. Create one routine that will allow you to make money consistently.
  5. Be patient. I know that some traders love the excitement of trading and once the excitement is gone, they get bored and start sabotaging themselves. Does this sound familiar?
    If you are looking for excitement, find a hobby that can provide you the excitement.
    This is one of the most important skills of your trading success.
  6. Don´t focus on the money. If you focus on the money you will not be able to focus on what is happening in the market.
  7. Develop your mental edge. This is a crucial step. Stephen Covey has a 90-10 principle. He mentions that 10% of your life is determined by what happens to you. 90% of life is decided by how you react.

Remember this is a process. Any step in the right direction moves you closer to your goal.

If you trade and you need to step closer to your goal, you don´t have to do it alone, you can have help. You need to choose your tools and start trading focusing in what is happening in the market. Go to Fx-megaforex and to Forexmegatrion and get one step closer to your goal!

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