Since 2007, forex.in.rs offers exciting articles, lessons from the trading industry. Igor M. manages the website and recently started an FXIgor youtube channel as well. 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.
In 2020. several writers joined the site, and we hope that articles will be interesting and attract more visitors in the future.
In the first days of my trading career, I had a lot of “luck” more than knowledge. Books that change my mind and trading knowledge were Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications from John J. Murphy and books from by Jack Swagger. People from dailyfx.com created huge influence at the beginning of my career such as Michael Boutros, David Song, Jamie Saettele. I learned from the basic technical analysis, got great tips.
Last several years, I am part of the Leanta Capital group. The main goal of this website is to offer free education, articles in the field of forex and stocks trading, the financial industry.
We are looking for marketing experts, traders to join our team.
About forex.in.rs :
This website exists since 2007. Our goal is to offer free education and free help to all people interested in trading. We are trying to to cover forex, stocks, futures topics, share interesting strategies, give the answer to your questions.
From last year, we are trying to write articles that you ask for, help you to solve problems. Please 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. There have been countless individuals that have attempted to begin a day career in trading but haven’t been able to stick to it. In order to pursue a career in day trading, it is very important to ensure you understand all the basics and are able to apply them to everyday situations. These are some of the main things you learn in trading.
Machine learning is very popular when individuals switch their careers. Machine learning has been the recent trend, showing up all over social media. However, machine learning has been proven ineffective for trading. The main reason for this is due to its inability to connect the material with real-life trading. Real-life trading requires hands-on experience. There is a lack of hands-on experience with machine trading. For this reason, many traders do not continue to pursue their career in algorithmic trading. This is unfortunate as a trader could perform well if they have been 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 alter their life and career significantly, they often ponder and reflect on them. They consider whether or not 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. The smart hindsight especially 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 “go-getters” mentality of rising above criticism. This motto has provided motivation for many traders that feel the pressure of giving up from friends and family.
The best advice is to follow your gut instincts. This is true when it comes to trading as well as other areas of your life. Following your gut ensures that you are listening to your own experiences and shaping your own reality. Each trader is responsible for their performance, therefore they must make decisions they are content with. If a trader listens to those around them, they can be misguided and end up making decisions they would have otherwise avoided.
Going Slightly Mad
Becoming agitated or irritated can often happen to traders that have other obligations such as family and social gatherings. Understanding how day trading can at times be stressful as well as extremely rewarding. This is a unique aspect of the trading career that not many people notice or speak about. Working long hours with trading is not a good solution for those in the industry. Ensuring that proper breaks are take helps to reduce burn out and excessive drain. This is very 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 to create a peaceful and respectful environment between the trader and his or her colleagues.
Many traders refer to a certain period in trading as the “rebirth.” This is when mistakes have been made along the way and the individual rises up and makes a career come back. This process is common with 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 on. This process is crucial to success as it demonstrates courage. After common mistakes have been made and analyzed, the process of trading 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.
Ensuring traders remain patient is a critical aspect to reaching success. On the toughest days often it is challenging to stay patient and consistent. When you feel like nothing is going your way, whether that be in terms of software or the market, there is always a silver lining. These types of situations help to mold individuals and shape them into what they experience. There are many ways to remain calm and patient during the process of trading, especially when it comes to the learning curve. There is an inevitable learning curve that takes place. This helps traders to understand what it takes in order to become a successful trader.
Mastering the Art in trading
Mastering the art of anything, trading included, takes time, patience, and lots of practice. The old saying “practice makes perfect.” is most certainly applied to trading as well. Day trading requires a learning curve as previously mentioned. A learning curve is sure to 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 make you who you are and set you on the trajectory path for ultimate satisfaction.
In order for a new trader to begin to master the art, they must first understand the art. This means that trades must understand the necessary components to algorithmic trading and how it works in the real market. The best ways to get ahead on the learning process include books, seminars, and online blogs.
Traders that have been working for a long time in the industry may notice a term called “analysis paralysis.” This is when a trader over analyzes and over the process the information for trading. This type of trading can become a bad habit that should not be started. Ensuring that the trader schedules breaks and downtime is critical to ensure they do not overwork themselves. Overall the most important aspect of trading is to enjoy what you do and put your talents to use in the industry.
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