I'm going to share with you some of the factors of profitable trading in the foreign exchange market. This is a big market, with a lot of big business involved. Typically, if big business is in this market, you should be too because that means there is money to be made. The problem is that most people don't know how to do it properly, so I hope to shed a little light on that.
The most important thing is to have your money that is in the market producing a return. It seems simple, but most people don't do it. A lot of people have a problem with cutting their losses. They tell themselves, "oh, it'll go back up." It's true. It probably will go back up, but it could take a few years. That means you have money in the market that isn't producing any return. That is why people cut losses. It's to get some money back and reinvest it to make a return.
You also want to take the time to learn how to control your emotions. When your emotions get involved in trading, that's when you cross the line between business person to gambler. A gambler is a person that works on highs, lows and emotional thinking. You're going to get all sorts of feelings while you trade. You're going to get stressed out. You're going to experience anxiety. You're going to get these gut feelings that just seem like a good move. They're not. The only good move is based off logical facts.
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