10 Habitos del Trader Exitoso en Forex

Here are 10 rules that most successful traders in Forex are . Although these habits may seem simple, the only way to acquire them efficiently and ultimately is through a lot ofpatience, discipline and experience .

1. Use a plan

No Forex trader successfully last long without a good plan for each of its transactions.While it is true that it is possible to have successful operations Logar occasionally without following a previous, eventually plan, this will not work, and end up losing money. 
Successful and profitable traders have specific attack plans for each position, including:

• Position size
• Entry point
• Stop Loss (S / L) well defined (much is willing to risk)
• A Take Profit (T / P) well defined (the profit target you are searching)

A successful trader in Forex is also flexible when it comes to getting your winnings, sometimes closing their positions before the T / P if it determines that the market will not advance further in their favor. At other times, you can extend rather take profit if the market so permits. However, what a successful trader never does is move the Stop Loss of original point unless it is in favor of the position, and in order to ensure some level of profit reached so far.

2. Anticipate important events

As is the case in chess, the best players are always thinking of trying to anticipate future moves their opponents . A successful Forex trader will always be pending future events and expectations that they can generate. Based on these considerations, they build their trading strategies and be ready and able to operate at the time having the events, not to drift as the rest.

3. Flexible Keeping

Successful forex traders do not engage emotionally with their positions . They recognize that not about being right or not, it comes to making money . They adapt to the latest information and are willing to close their positions quickly if events suggest so.At the same time, they are open to new opportunities that may arise in the market and are ready to react.

Being prepared also means maintaining sufficient margins to open operations at the right time.

4. Be prepared to operate

A successful trader is always prepared as well as possible in a market that is open 24 hours and subject to constant and events anywhere in the world. A successful trader must be prepared to:

• Act against the economic events of the next week to two weeks : Know the results of previous reports and what is expected for coming.
• Scheduled to attend speeches : Know who will speak (central banks, ...), they said last time and is expected to say this time.
• Knowing the meetings of the Central Banks : Having an economic calendarhandy with the following meetings and what the market expected to decide in each case.
• Knowing the meetings of financial leaders , such as the G7 finance ministers and the European Union: It is important to know whether any issue affecting currencies be played in any future meetings.
• Being aware of the liquidity conditions : It is essential to be aware of the times when market liquidity may be affected, either at certain times of the day when some markets, holidays, end of the month closed, etc.
• React to unexpected events : It 's good to be enrolled in services that provide alerts for news or unexpected events, to assess potential opportunities and risks.

5. Be Important Technical Levels Earrings

Even for those Forex traders who do not follow strictly the technical analysis , it is essential to be aware of the most important technical levels of the currency pairs that are followed, such as Fibonacci setbacks or strong levels of support and resistance .

6. Follow Tendency / Operate in Ranges

Successful traders know to determine if the market has a definite trend or if it moves laterally between ranges . If the market has a definite trend, a successful trader always try to follow this trend and not open to the same inverse operations. In this sense, they hope to have corrections trends , ie prices are returned to points of support or resistance keys to enter advantageously with the flow.

Similarly, if they determine that the market is moving sideways between ranges, they try to take advantage of this situation by selling at high points and low points buying range.

7. Focus on a few currency pairs

Many successful traders focus on only one or two currency pairs to perform all operations . This allows them to better understand these markets in terms of price levels and their behavior . It also makes more manageable amount of information and news that have to be monitored. Above all, they recognize that each currency pair has different personalities, and are able to adapt according to the situation.

8. Protect Profits

To achieve success in making forex trading, should be collected profits on a regular basis, either partially or leaving a position reaches Take Profit (T / P) Original . The important thing is that once an operation is winning, the trader must not lose focus on that gain by wanting to make more money. Hence the importance of handling a well defined together with the flexibility that allows us to close positions where appropriate plan.

9. Trading with Stop Loss

Every successful trader loses money on some of its operations. What makes themsuccessful in the long run is that their losses are relatively small compared to the profits of their winning trades . The absolute key to this is knowing how to cut losses while taking a Stop Loss (S / L) in absolutely every one of the operations.

Nobody likes to lose money, but the best trader are able to accept this as part of the game. And the only way to accept this regularly, is keeping losses small. This is one of the most important habits to master.

Note 10. Other Markets

Smart traders routinely keep an eye on other world financial markets and oil prices and gold for example . In many cases, there are correlations important among these markets and some Forex currency pairs. You keep track of this information willprovide the trader a much broader and enhanced vision, allowing you to find confirmation or support the decisions.