Since 2007, forex.in.rs has offered exciting articles and lessons from the trading industry. Igor M. manages the website and recently started an FXIgor YouTube channel. The main focus is on the forex trading industry, but there is also a clear desire to educate site visitors in global finance.
The site cooperates with experts in the field of trading. I will present some conclusions and transfer the experience I gained working for several prop trading companies in the last ten years.
Several writers joined the site in 2020, and we hope that their articles will be interesting and attract more visitors in the future.
History background
In the first days of my trading career, I had a lot of “luck” more than knowledge. Books that changed my mind and trading knowledge were Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy and books by Jack Swagger. People from dailyfx.com, such as Michael Boutros, David Song, and Jamie Saettele, created massive influence at the beginning of my career. I learned from the fundamental technical analysis and got great tips.
For the last several years, I have been part of the Leanta Capital group. This website aims to offer free education and articles on forex and stock trading and the financial industry.
We are looking for marketing experts and traders to join our team.
About forex.in.rs :
This website exists since 2007. We aim to offer free education and free help to everyone interested in trading. We are trying to cover topics for forex, stocks, and futures, share exciting strategies, and answer your questions.
Since last year, we have been trying to write the articles you requested to help you solve problems. If you need advice, we are here for you.
Unique Lessons Learned From Trading
Every talented trader begins with their first day. Understanding what to expect on the first day of trading is very important. Many people have expectations about what algorithmic trading entails. Algorithmic trading requires a thorough understanding of math and logistics. Both of these tools are applied during trading. Countless individuals have attempted to begin a day career in trading but haven’t stuck to it. To pursue a career in day trading, it is essential to understand all the basics and apply them to everyday situations. These are some of the main things you learn in trading.
Machine learning is highly rated when individuals switch careers. It has recently become a trend all over social media. However, machine learning has been proven ineffective for trading. The main reason is its inability to connect the material with real-life trading. For this reason, many traders do not continue to pursue their careers in algorithmic trading. This is unfortunate, as traders could perform well if given the right tools.
The Smart Hindsight
There are many reasons why a trader may look back on their career in hindsight. Everyone goes through the reflection process after they make a big decision. When individuals make decisions that significantly alter their lives and careers, they often ponder and reflect on them. They consider whether they made the right decision and what they would have done if given a second opportunity. This is important to note as it contributes to the overall process when beginning a career in trading. Smart hindsight mainly refers to a simple motto when dealing with past lessons. The motto states that when others are too afraid to try something, they will criticize you for doing it. This is a true statement as it attests to entrepreneurs and the “go-getters” mentality of rising above criticism. This motto has motivated many traders who feel pressured to give up from friends and family.
The best advice is to follow your gut instincts. This is true regarding trading and other areas of your life. Following your gut ensures that you are listening to your experiences and shaping your reality. Each trader is responsible for their performance. Therefore, they must make decisions they are content with. If traders listen to those around them, they can be misguided and make decisions they would have otherwise avoided.
Going Slightly Mad
Agents or irritation can often happen to traders with other obligations such as family and social gatherings. Understanding how day trading can sometimes be stressful and extremely rewarding is essential. Not many people notice or speak about This unique aspect of the trading career. Working long hours in trading is not a good solution for industry employees. Ensuring that proper breaks are taken helps to reduce burnout and excessive drain. This is important to note, as it will help new and young traders avoid the most common mistakes. Proper techniques to manage this process can be learned and implanted. This is important as it helps create a peaceful and respectful environment between the trader and their colleagues.
Many traders refer to a specific period in trading as the “rebirth.” This is when mistakes have been made, and the individual rises and makes a career comeback. This process is familiar in any industry, not just trading. Individuals may get behind on their work and feel like they are losing control. However, with proper motivation and support, they get back on their feet and continue. This process is crucial to success, as it demonstrates courage. After common mistakes have been made and analyzed, the trading process becomes limitless and fearless in some senses. For example, if one has made all the mistakes they can, they have nothing to lose when giving it their all. This is encouraging and motivating for the trader and helps push them forward.
Patience
Ensuring traders remain patient is a critical aspect of reaching success. On the toughest days, staying patient and consistent is often challenging. When you feel like nothing is going your way, whether in terms of software or the market, there is always a silver lining; these situations help mold individuals and shape them into what they experience. There are many ways to remain calm and patient during trading, especially regarding the learning curve. There is an inevitable learning curve that takes place. This helps traders to understand what it takes to become a successful trader.
Mastering the Art of Trading
Mastering the art of anything, including trading, takes time, patience, and lots of practice. The old saying “practice makes perfect” is also applied to trading. Day trading requires a learning curve, as previously mentioned. A learning curve will teach traders to master the Art of trading. Success can only stem from failed experiences. Therefore, traders should not be afraid to make mistakes. Embracing mistakes makes you who you are and sets you on the path to ultimate satisfaction.
For a new trader to begin to master the Art, they must first understand the Art. This means traders must understand algorithmic trading’s necessary components and how it works in the real market. The best ways to get ahead of the learning process include books, seminars, and online blogs.
Analysis Paralysis
Traders who have been working for a long time in the industry may notice a term called “analysis paralysis.” This is when a trader analyzes and processes information for trading. This type of trading can become a bad habit that should not be started. Ensuring the trader schedules breaks and downtime is critical to ensure they do not overwork themselves. Overall, the most crucial aspect of trading is enjoying what you do and using your talents in the industry.
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I wish you a nice day!
Igor M.
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