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Those wishing to learn to trade must realise this at the outset. It’s when unrealistic expectations fail inevitably to be met that we can so easily turn our backs on what has the potential to be a profitable and rewarding journey.

So, with that in mind there are some fundamentals that need to be put in place at the start.

The first thing is to develop a realistic approach to trading. This means understanding that there are no guarantees, that winning and losing go hand in hand and that quite often the best set-ups will go against us. The market is not tameable.

Therefore, given the unpredictable nature of the market it has to be approached with diligence. What does that mean exactly? Well, amateur trading is often characterised by impatience, wanting to get on with the business of trading and making money; casting around for what look like opportunities to trade and then ‘jumping’ in. It’s quite possible that this approach may yield a few wins, but in trading it’s about the long term, and this approach will not yield long-term profit, in fact quite the opposite. It will only be a question of time before the entire account is lost.

To make a success of trading as an ongoing, long-term means of growing capital a clear-cut and disciplined approach is required. There are three cornerstones that must at all cost be adhered to: A trading plan, an understanding of risk management and the discipline to implement consistently your trading plan and its associated rules. In a way the last, discipline, sounds the easiest and most straightforward, but arguably it’s the hardest of the three. Read More

 

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REPORT: Trading improvements - Learning Center
REPORT: Reasons to Not Quit Trading - Yohay Elam

 

 

 

 

 

 

 

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Editors’ Picks

EUR/USD eases below 1.0850 on renewed USD strength

EUR/USD eases below 1.0850 on renewed USD strength

EUR/USD stays under pressure and trades in the red below 1.0850 in the European session. Although the ZEW survey for Germany and the Eurozone showed a noticeable improvement in economic sentiment, broad USD strength doesn't allow the pair to gain traction.

EUR/USD News

GBP/USD drops below 1.2700 on notable US Dollar demand

GBP/USD drops below 1.2700 on notable US Dollar demand

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Gold price struggles to lure buyers, holds steady above one-week low ahead of FOMC meeting

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