Traders thought the legendary success not only could be listened from
the seminars or their books. Moreover, most of the best books about
forex trading has not been translated into the languages of Indonesia.
In this case, Forex Trading Quotes or quotes about Pearl trading words
of the master trader it can also inspire. Here's a summary of some of
them, who may be able to help you get the more wise in forex trading.
the importance of psychology in forex trading highlighted by a myriad of traders. One of the most popular Forex Trading Quotes from Dr. Alexander Elder. However, some other legendary figure also assess the importance of this aspect, including George Soros who was famous after his successful trading action crippled currencies Pound Sterling
- "Beginners focuses on analysis, but the professionals move in three dimensions. They understand their own feelings of trading psychology and the psychology of mass market. " (Alexander Elder)
- " The secret to successful trading discipline emotions. If intelligence is the key, then there will be more people who make money from trading. " (Victor Sperandeo, a successful American trader profits 300% when predicting the market crash of 1987)
- " I just rich because I know when I'm wrong. Basically I have to survive by acknowledging my mistakes. " (George Soros)
- "The key is consistency and disciplined. Almost anyone can create a list of rules that 80% as good as what we teach in our people. What can't they do is give them the confidence to stay abreast of those rules even though the situation deteriorated. " (Richard Dennis)
- " I do not see much correlation between intelligence and good trading. Some leading traders smart enough, but some are not. A lot of very smart people is a bad trader. (For trading), average intelligence enough. More than that, the order of the emotions is more important. " (William Eckhardt)
- " There is no holy grail, and there are no magic system. You must win the battle in yourself before you can win the market. " (Mary Psarra, financial consultant at the Morrinson Wealth Management LLP London) .
2. Forex Trading Quotes About price movements
forex Trading is a business in which people attempt to profit from changes in currency rates are continuously happening. Thus, it is not surprising that many successful traders expressing their thoughts about this one. What is the view of the legend about the price movement of ?
forex Trading is a business in which people attempt to profit from changes in currency rates are continuously happening. Thus, it is not surprising that many successful traders expressing their thoughts about this one. What is the view of the legend about the price movement of ?
- " Volatility is a great turning point, is shrinking in line with new trends become established (formed). " (George Soros)
- " A lot of people seem to think that price changes in any one day is complete in itself and is not associated with the movements of the larger ones could be underway. This is mistaken. " (Charles Dow)
- " Charting it somewhat similar to surfing. You don't need a lot to know about the physical wave to catch a good waves. You just need to be able to feel it when (the waves), it happens and have the courage to act when appropriate. " (Ed Seykota)
- " This is an experience and instinct. I use many forms of technical analysis, but interpret them through gut instinct. I don't believe in mathematical systems are always approaching the market in the same way (as autotrading robot). By using myself as a "system", I am constantly changing input to achieve the same output: profit! " (Mark Weinstein, known as the High Percentage of Trader due to high profitability)
3. Connection Loss and Measure Traded
lots of legendary forex traders agreed that the marketers should limit the size of traded, especially when experiencing a bad day. In addition, it's also important to be judged always have stop loss plan whenever a trader opens a position. What exactly are revealed them? check out Forex Trading Quotes from some of the following:
- "when you experience a losing streak (continuously loses), your ability to assimilate and analyze information with the correct start deviating because of deteriorating confidence. You have to work very hard to restore that confidence and lowered trading size (the size of trading) could help the achievement of it. " (Bill Lipschutz)
- " My experience with the the beginning traders is their trade (with lot size) three to five times too big. They took a 5-10 percent risk when it should take 1 to 2 percent risk. (But) it's a substantial trading emotional baggage; in any day, I could lose millions of dollars. If you might include a loss like this, you cannot trade. " (Bruce Kovner)
- " Whenever I enter a position, I've got the stop level specified earlier. That's the only way I could sleep. I know where I'm going to get out, before I go. The size of the position in a trading (position size) is determined by the level of the stop, the stop level and it is determined on the basis of a technical. " (Bruce Kovner)
- " Traders are focused almost entirely on where to enter trading (open position). In fact, the entry size (size of the opened trading) is often more important than the entry price (harga open position). " (Jack D Schwager)
- " The most important rule in trading is playing defense, not offense. Every day, I am assuming that the position I have got it wrong. (But) I know where the stop point of the risk I would be. I do it so I can define maximal drawdown that may occur. The expectation, I spend the whole rest of the day enjoying the positions running towards the (predictions) are mine. If they turn out against me, then I have plans to play out (from the losing positions). " (Paul Tudor Jones)
- " I have learned many things from him (George Soros), but perhaps the most significant is that the important thing is not about whether you are right or wrong, but how much money you make when right and how much you eliminate when one. " (Stanley Druckenmiller)
