To my brother and sister and those who ready to joint the adventure into the world of trading:this is the one-the best book I can recomend to you.
This book briefly explain the glossary of forex words,introduction of forex,what is pip,leverage,open position,margin,capital and thousand of terms that we must familiar with,in the journey of our trading....
No one should start any 'demo account' without reading this book first.
In brief it give us a description of what is a 'good trader' and how to achieve it:
The Good Trader
Good traders have firm control over their emotions.
Good traders never think of prices as too high or too low—they are
interested only in the direction of a market.
Good traders make evolutionary adjustments to their trade plans,
rarely revolutionary ones.
Good traders do not pyramid. Pyramiding profits is risky; pyramiding
losses is suicide.
Good traders—even part-time ones—consider trading a business, not
a hobby.
Good traders can tell when they are on and when they are off and never
trade if and when the latter is the case.
Good traders are prepared in advance for all possible market action
during a session. They may be wrong but are rarely surprised.
Good traders never trade just to trade but follow their trade plan and
trading heuristic consistently
Good traders understand the importance of good money management
and attitude.
Good traders trade only with money they can afford to lose.
Good traders take small losses and let profits run.
Good traders use stops and rarely pull them or change them after a
trade is entered.
Good traders do not anthropomorphize the markets. The markets are
never “out to get you.”
Good traders give the markets time to work. Once they take a position
they sit on their hands and wait for developments with both a stop
loss level and a take-profit objective established in advance.
Good traders know when to hold them, know when to fold them, know
when to walk away, and know when to run.
Good traders have firm control over their emotions.
Good traders never think of prices as too high or too low—they are
interested only in the direction of a market.
Good traders make evolutionary adjustments to their trade plans,
rarely revolutionary ones.
Good traders do not pyramid. Pyramiding profits is risky; pyramiding
losses is suicide.
Good traders—even part-time ones—consider trading a business, not
a hobby.
Good traders can tell when they are on and when they are off and never
trade if and when the latter is the case.
Good traders are prepared in advance for all possible market action
during a session. They may be wrong but are rarely surprised.
Good traders never trade just to trade but follow their trade plan and
trading heuristic consistently
Good traders understand the importance of good money management
and attitude.
Good traders trade only with money they can afford to lose.
Good traders take small losses and let profits run.
Good traders use stops and rarely pull them or change them after a
trade is entered.
Good traders do not anthropomorphize the markets. The markets are
never “out to get you.”
Good traders give the markets time to work. Once they take a position
they sit on their hands and wait for developments with both a stop
loss level and a take-profit objective established in advance.
Good traders know when to hold them, know when to fold them, know
when to walk away, and know when to run.
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PS:
Special thanks and appreciation to 'Bull Arief' for recomending this book...
2 comments:
Wrong link (no trace of the file in the website). Please re-post. Thank you in advance.
Thanks fisherking61.
The link is update now.
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