Traders on financial markets will apply different strategies to their trading practices, but regardless of the strategy, there are traits and habits that are common to successful traders. Foreign currency exchange traders are not an exception. They are very good at managing their money, specifically looking at risk and reward of their investments. They are also capable of trading without emotions which typically results in maximized profits. Most of them run their winners to the peak and they cut their losses in timely manner.
- It’s not how you think, but how you execute–your day-to-day habits
- find an asset that you’re good at, and master your craft. Take meaningful profits to cover your losses.
- find a niche in the market that suits you. Finding an edge that fits you, that you believe in, will allow you to focus on the habits that will double your lead over ordinary losing traders.
“What the best traders know is it’s the size of the winners that count.”