Category: Money tips Release Date: 2006-12-29
Q: Why are the majority of traders would always losing money?
A: Because they would rather lose money are reluctant to admit their mistakes. Most traders in the face of a loss when the reaction was: "As long as I am not a loss of money playing." Why must we wait until it appeared, instead of losing? This is just to save his face. The reason why I can become a successful trader, it is because I was finally able to face aside. "To his self-esteem and face. Money is the most important."
Q: If someone wants you to work recommendations, what kind of advice would you propose?
A: I would encourage them to work for themselves. I would tell them: "Just think, you might climb the peak on the success of a lifetime dream, because I was so." Matter of life or the money he must have absolute freedom. I can always go on holiday every year, half of the time was spent in威斯安普敦enjoying the beach next to the other half is to stay in New York.
Q: If someone wants to become a trader, what kind of advice would you give him?
Answer: Learn how to accept a loss. To make money we must learn to control losses. In addition, unless you double or triple the capital increase, do not extend your site. Most people soon began to make money, they immediately expand the site of their own hands, this is a serious mistake, serious enough to have you go bankrupt.
Find their own way to trade
Marty Schwartz, who is often the aftermath of the experience of loss is difficult to break through in terms of a trader is a great encouragement. Schwartz in the first 10 years of trading career, has always frustrations, often verge of bankruptcy. However, he was finally able to turn things around the world, one of the wisest traders. How did he do it?
His success comes from two elements. First, he found entirely their own transaction. Schwartz not proud of those days which are based on fundamental analysis to determine the transaction, however, he was replaced by technical analysis to engage in transactions, his career began to smooth sailing.
I would like to emphasize that this is not to say that technical analysis is superior to fundamental analysis, but Schwartz find his own transaction. Visited some of the book dealers, such as James Rogers, fundamental analysis is started by the traders. Therefore, the essence of the elements, each trader must find their own way to trade entirely.
The second element is the Schwartz change in attitudes. According to Schwartz's remarks, when he put the issue on the face behind the pursuit of the outcome, he became the transactions without their drawbacks.
Risk control is also Schwartz, one of key success factors. One of the principles of his trade is to hold positions in prior to the deal in advance to determine their risk in the can. In the aftermath of major losses, we must decrement operations, but more importantly, in trading profit, after taking the reduction business strategy.
Schwartz explained that the losses are often followed, after a successful transaction. I think most of the traders should have such an experience, because to bring was proud of the success, but was proud of but it will cause voter support, and careless.
