How to Maintain Profit in Trading
Traders may often see traders who are too happy when they make profits so they forget their trading management. The main concern of the trade shift itself is after the market changes the transaction. As a result, traders may incur significant losses after making profits. This is because they are too excited and forget to stay focused on getting consistent trading profits.
Understanding the basic concepts of learning forex can indeed be a reference, but traders cannot be sure what will happen in the forex market a few seconds later. Even studying the material does not guarantee that a forex trader will earn consistently.
Reasons You Can't Get Consistent Profits
There are many reasons why most traders have not been able to make consistent profits. One of them is because they do not understand how to choose a currency pair.
As traders already know, currency pairs have their own characteristics. For example, the GBP/USD pair has a strong trend-making nature. Although signals and all kinds of forex combat equipment are considered quite complete, traders will find it difficult to make decisions about these movements.
This is different from the EUR/USD pair. The pair has a movement that generates more power than the forecast indicator signals. However, traders can anticipate the preparation of their transactions to follow the direction of the trend. Both EUR/USD and GBP/USD have characteristics that traders are generally familiar with. However, currency pairs may differ from their own characteristics under certain conditions. For example, the announcement of the relevant official or the decision of the central bank can turn the currency movement cycle into a new price journey map that is difficult to track, especially on the movement of the EUR / USD or GBP / USD pair.
Solution to Get Consistent Profit
Record Monitoring Results in the Journal
As long as the trader understands the character of each pair, you can minimize losses and get consistent profits. The only easiest way to be able to find out the movement of a pair is by continuously monitoring and assessing, weighing, and recording the results of these movements in a trading journal. Maybe some traders will underestimate writing a trading journal. However, it is very important to help traders earn consistent profits. Thus, traders can easily track and evaluate the trading performance of traders on certain days.
Use the Most Convenient Currency Pair
The most important thing about choosing a pair is not taking a pair that has never been tried. We recommend that you choose only one that is quite comfortable and comfortable to wear. Traders do not need to use other traders' currency pairs. In addition, the trader should make sure that the trader has been testing the pair for a long time or a minimum of three months and made a 100% net profit. This will affect the psychology and show the trader's perspective that trading using his chosen pair can be profitable. It is undeniable that couples who have been successfully tested produce experiences that can be used repeatedly in the future.
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