In spite of whether people trade in Currency markets (Forex), Shares/Stocks (NSE), Commodities (MCX, NCDEX, COMEX), options, futures for difference, majority loses. Even the elite traders who do win lose on plenty of their trades. There is no such thing as 100 percent accuracy. And here is the self denying truth about active trading: fewer (and possibly many fewer) than 10 percent of active traders are consistently making profit over the long run. This may surprise you given the marketing buildup that surrounds trading.
Regardless of the superficial glamour, it’s a disappointing truth that very few traders are consistently profitable over the longer term. And this goes for all active traders, regardless of which markets, time frames, or instruments they choose to trade. Very few traders are consistently profitable over the longer term. The only thing differs from the successful trader and losers are successful traders are using professional approach in trading, they are using professional and accurate technical analysis tool for trading.
The good news is that the best traders who win in trading do not essential to know any trading secrets. They will have very interesting trade setups and entry, stop, and exit techniques by using professional technical analysis software that helps buy or sell decisions in trading. Principles that are universal to all consistently profitable traders—the few 10 percent of traders who win, these principles are common among the winners. They distinguish the few winners from the majority who lose.
The successful trader’s profitability is not reliant upon a single magic indicator. They using the most performing software for their technical analysis and with proper money management they are making profit in long run. If you are serious about becoming a consistently profitable trader, then you will need to learn, understand, embrace, and implement the universal trading techniques that every consistently profitable trader understands and follows. To ignore them is to guarantee your trading demise.
Regardless of what or how you trade, to be consistently profitable you need to adhere to some basic first principles of trading. You need to remember that a market is a market is a market and that a chart is a chart is a chart. So regardless which individual markets you may choose to trade, or which time frame you choose to follow, or which security you choose to trade, what comes first in profitable trading is adopting and embracing a good process of trading. The selection of which markets to monitor and which instruments to trade is secondary to the adoption and implementation of a good process of trading, and those are what the universal principles of successful trading are all about.
So if you wish to succeed in trading, you will need to understand and accept the simple truth that what distinguishes a group of successful traders from the majority’ who lose is not their individual entry and exit techniques but their adoption of the universal principles.
Losing traders don’t know this. They are unaware of the universal principles. They continue to trade and lose in total ignorance. They continue to focus on looking for that perfect risk-free 100 percent accurate entry technique. They’re unaware that there are key principles to adhere to when trading.
In a nutshell, if you trade, regardless of where, how, or why you do it, the universal principles of successful trading are essential to your success. To ignore them is to ignore the truth. To ignore them is the same as ignoring the losses in your trading account.
Of course there is only one universal truth in trading techniques. If you can get the basic principles of trading right, then the profits will follow. However, if you ignore the universal basic principles of trading, then you will continue to lose.
If you wish to make money in trading Commodity, Currency or Share markets, then you need to have a best technical analysis software that give most accurate buy sell entry points and exits and with a proper money management rule
If you’re here looking for a new entry, stop, or exit technique then this book is not for you. If you’re here looking for a new technique to analyze market structure, then this book is not for you. And if you’re here looking for a simple solution to get you profitable, then this book is not for you and nor can I help you. Although trading and the universal principles, once you know them, are relatively simple, they are not easy. There are no easy shortcuts to achieving consistent long-term profitable trading.
If you are looking for certainty in your trading, then this book is not for you and nor can I help you. There is no certainty in the markets and there is certainly no certainty in trading. There is only 100 percent probability. If you’re a person who can only function in an environment that offers a high level of certainty and security, like being in a secure relationship or secure job, then trading is not for you.
If you are an intellectual who rarely admits to being wrong, then trading is not for you, because the markets have a regular tendency to belittle you and make you wrong. Intellectuals struggle with not knowing the correct answer, not being in control, and being regularly proved wrong.
However, if you are prepared to do the trading, trading can offer you unlimited possibilities. Today, trading is as democratic as it can be. It lets everyone compete equally. There are no barriers to entry. Today, institutions no longer have a competitive advantage over the private trader. There are no limits to foolishness when institutional traders can be just as ignorant and clueless about what works in the market as the private trader. There are no ceilings to success when private traders can achieve profitability comparable to or better than some of the best institutional traders. Trading today is the ubiquitous level playing field.
If you are patient, if you are prepared to do the work, and if you have an open mind, then I believe the universal principles will transform your trading. But it will be up to you, you alone, and no one else. Take responsibility for your actions and your actions will transform your trading account.
Good luck, study well for sensible trading to make regular income from trading Commodity, Share and Currency markets.
The below blog describes how past data can be used to predict the future performance by WinTrader technical analysis software in trading FOREX, MCX, NSE and COMEX markets
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