Known financier Alexander Elder in the book «How to trade and win at a stock exchange» has written:« If your friend who does not have a wide experience in agriculture, tells to you that is going to support himself from a site in an acre quarter, you decide that he should hunger. All of us know how many it is possible to squeeze out from such plot.
But in the field of stock jobbing adult people allow the imaginations to blossom ». This phrase was read by many beginning traders. But, as well as I, they have decided that, having enclosed small means, I can to earn a condition quickly. Experts write that attempts of beginners to earn, using extra means, in overwhelming majority of cases are doomed to a failure. I was convinced of it on a private experience. The fear to lose another’s money will paralyze will. The head ceases to work, and the first failures (and unprofitable operations are inevitable) lead to self-checking loss, decision-making becomes not on the basis of calculations and reason, and under the influence of emotions when the trader, neglecting all rules, tries to rectify situation quickly.
On the market the large quantity of factors operates, therefore it is impossible to define a direction of movement of quotations with absolute accuracy. It can sharply change because of crisis or accident. But I consider till now that in most cases use of means of the technical analysis, analytics and forecasts, and also scrupulous supervision over a situation in the market allows to do trade on Forex profitable.
One more widespread error which I made: in a pursuit of fast and high profit sometimes opened positions for the sum exceeding half of the deposit. Losses at marginal trade grow very quickly, and in case of an error the fear before loss of bigger deposit parts forces to make even more gross blunders. Now I believe that the sum of open positions should not exceed the tenth part of the deposit.
Having analyzed errors, you have to come to a conclusion that you will not stop trading on Forex. Now I know what to aspire to earn at once a condition, breaking all rules of behavior in the market, — useless employment. The main conclusion: it is impossible to concern exchange trade superficially; the success in this business depends on knowledge, experience and intuition. Constant trainings on a demo-account are very useful, but they cannot be compared to real trade.
I did not hear that someone from small investors has earned a great fortune on Forex, but my purpose — to make trade on Forex not hobby, and a permanent job bringing moral satisfaction and sufficient profit. Successful traders have the mid-annual income within 30 % annual.
Therefore in the near future I will put into trading account 2000$-3000. I will perform operations, using the minimum prizes; I will not learn to get yet more or less stable profit even if on it long time is required. In case of loss this money I will consider as a tuition fee.
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