Stories of successful traders many circulating on the internet, including this one. A full-time trader origin Sydney, Australia, was named J Park, highlighted by leading media MarketWatch thanks to trading results screenshots are fantastic. He was able tomanage the funds of a USD600 deposited in March 2014 into USD100,000 per February 2017. Wonderful, isn't it? This is some of the things recommended J Park for the novice trader, as quoted from his interview with Mike Bellafiore of SMB Capital.
1. Soak up Knowledge from various sources
"I earn some money with easy (100% luck), gutting several trading accounts, (then) start again with the $600 account for the third time and recently passed a whole $100.000 of profit," said Park, adding that he learned from several mentors, "I learned a lot from a lot of people on Twitter."
2. Ready to work hard doing research
"I trade or at least monitor the movement of the market from 9:30 am until 4 pm and did the necessary research outside trading hours in order to improve trading results (though originally I didn't even know how to do it)."
3. Never give up
"I have to deal with the same hurdles hurdles with small traders in General when it started trading. Lacking clues, small accounts, trading commissions high; whatever the case, I experienced it, "said Park," I think I can be successful because I do not use 'hurdles hurdles ' as the reason why I fail, as well as continue to empower the time and energy to trying to achieve success. "
4. Compare Yourself with other people
"I started posting my daily Profit/Loss on Twitter in mid-2016 as a way to objectivelydocumenting my progress and related traders are likely to be at the same level," said Park. "I think this has really helped my progress, and I want to continue to learn from traders of various ability levels."
Profile Loss J-Park
The cumulative Profit/Loss chart posted J Park On her Twitter Account.
5. avoid Two Main Mistakes Newcomers
According to j. Park, there are two problems that generally reflects a novice trader:
Too focused on profit and loss, but not enough to pay attention to the process of trading him.
"If your strategy has shown toughness from time to time, the only thing you need to consider is the execution plan that is consistent, then the profit/loss will be groomed by itself."
Ignore the trading setups and not customize it by yourself.
"According to my thrifty, conducting additional explanations for a trading setup makes sense for You, and also the criteria for entry and exit, is paramount to build self-confidence in your trading activity."
How do you think about these tips J Park? Many were of course already familiar in the ear, but there are also messages that are quite inspirational, such as utilizing social media as material for learning forex trading with follow your twitter account and share it with your fellow traders. Many traders actually undergo a similar process, especially on ForexFactory, traders gathering place throughout the world; but probablyseldom live it setekun Park.
These tips sound simple, but the two repeated theme was seriousness and hard work. No one can succeed like a sudden fall of durian trading in broad daylight by relying on luck alone.