Trading Philosophy on Jacky's Opinion
Three months ago, I entered live desk trading in Marketiva. Marketiva supports me because their procedurals are easy and the main advantage is Minimum deposit require. I had won many times, but greedy made me bite my fingers. I loss many times because of my wrong decision and in my opinion trading and gambling is the one. Day by day, I learn more about success traders, browsing information and subscribe to those relevant sites. I need information.
Lastly, I make my own decision after read that news. Here is my philosophy. Maybe my philosophies also work on you.
* Trader is not gambler. Trading is quiet with gambling. Some people said the different depending on our self. I was a gambler. So it is too difficult to determine, because both trading and gambling is speculation.
* Cool Down. Don’t be panic. If you hold USD against Euro and the graphs show that USD falls down. Be Cool. It is a temporary movement. You have to increase your knowledge. Is that the movement is crucial or not? Determine and make your position. Close or let it flows.
* News everyday. If you don’t, your trading is a gambling.
* Target and stop loss. This is an important ways. In real business, Manager always determines their business target. A plan without target is useless. Stop loss means, Minimum Gains. If you fell USD continue falls down. Make a stop loss to prevent more suffered. In real business, beside target, manager also determines their maximum loss. Economic theory said if loss bigger than Fix Cost, Close your business.
Lastly, I make my own decision after read that news. Here is my philosophy. Maybe my philosophies also work on you.
* Trader is not gambler. Trading is quiet with gambling. Some people said the different depending on our self. I was a gambler. So it is too difficult to determine, because both trading and gambling is speculation.
* Cool Down. Don’t be panic. If you hold USD against Euro and the graphs show that USD falls down. Be Cool. It is a temporary movement. You have to increase your knowledge. Is that the movement is crucial or not? Determine and make your position. Close or let it flows.
* News everyday. If you don’t, your trading is a gambling.
* Target and stop loss. This is an important ways. In real business, Manager always determines their business target. A plan without target is useless. Stop loss means, Minimum Gains. If you fell USD continue falls down. Make a stop loss to prevent more suffered. In real business, beside target, manager also determines their maximum loss. Economic theory said if loss bigger than Fix Cost, Close your business.
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