Inspirational sayings of forex professionals

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INSPIRATIONAL SAYINGS OF FOREX PROFESSIONALS Hello traders, This article is going to be very interesting change of your perspective towards online forex trading. We will be going through the principles and sayings of famous forex professionals. Few days before, I visited series of Jack Schwinger and found some interesting and fascinating quotes in it which I want to share with you. He has explained various intriguing aspects of trading about how professionals have got these in the forex market. These principles will definitely motivate you a lot.

A famous saying by Michael Marcus to begin with: “If trading is your life, it is a torturous kind of excitement. But if you are keeping your life in balance, then it is fun. All the successful traders I’ve seen that lasted in the business sooner or later got to that point. They have a balanced life; they have fun outside of trading. You can’t sustain it if you don’t have some other focus. Eventually, you wind up over-trading or getting excessively disturbed about temporary failures.” Above quote states that traders should avoid overtrading during online forex trading which is one leading cause of failures and it can depletes trader’s account. So avoid it! Trade carefully!

A very true statement by Bruce Kovner “Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep. I know where I’m getting out before I get in. The position size on a trade is determined by the stop, and the stop is determined on a technical basis.” Above statement narrates the importance of placing predetermined stop loss while Online forex trading. By doing so, you will not only prevent yourself from overtrading but also be more focused towards your trading objective.

Paul Tudor Jones’s words practically goes well “Don’t be a hero. Don’t have an ego. Always question yourself and your ability. Don’t ever feel that you are very good. The second you do, you are dead. My biggest hits have always come after I have had a great period and I started to think that I knew something.” The above quote confirms us that overconfidence that arises after winning some trades can kill you in the online forex trading if you are just focusing on the luck and profits rather than focusing on risk.

Ed Seykota’s view towards money management


“The key to long-term survival and prosperity has a lot to do with the money management techniques incorporated into the technical system. There are old traders and there are bold traders, but there are very few old, bold traders”. I appreciate the way of expressing the importance of adopting money management in the Online forex trading in which he meant of taking too much risk by the word of ‘bold’. And in the last sentence he stated that there are very few experienced trader who are surviving long and trading boldly because of experience.

Al Weiss statement at a glance “The essential element is that the markets are ultimately based on human psychology, and by charting the markets you’re merely converting human psychology into graphic representations. I believe that the human mind is more powerful than any computer in analyzing the implications of these price graphs.” Observe the beauty of statement above which states that every action depends upon what type of psychology you keep during online forex trading. How much profit makes you contented. How many losses can you afford? At what level of risk you like to withstand? Human brains are more powerful to observe the markets rather than a machine or trading robots! Hopefully this article inspired you in the right direction towards online forex trading. Keep the above statements in mind. This will help you sustain in the forex world with profits at your footstep.


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