Tag: success

  • Modern German Investors

    Modern German Investors

    Modern German Investors 4Who are modern german investors?  Why are they popular? How do they differ from others?

    By Traders-Paradise Team

    Modern German investors escaped traditional limitations. They are truly representatives of modern times. Young enough to understand the requests of modern times. They are strong enough to ignore what is wrong in traditional opinions. And, the most important, modern German investors have the knowledge to build their own empire.

    Oliver Jung is among Modern German investors

    Modern German Investors

    Oliver Jung is one of the modern German investors. He was born on July 5, 1972, in Heidelberg, Germany. As a boy, he spent most of his childhood in Hockenheim in southern Germany.

    Later, he relocated to Karlsruhe.

    He attended the Technische Universität Karlsruhe, the University of Karlsruhe. When he was 20, he got a degree in computer science.

    As a student, Jung showed interest in Internet technologies. Today, investing is one of his main interests. He participates as founder, the consultant also, in a big number of companies all around the world.

    Jung’s first company was eCommerce consulting “Entory AG’. He founded it in 1997.

    Only 4 years later he sold the company to Deutsche Boerse Group, which is the giant operator of stock exchanges in Germany.

    In that time Jung’s company reached about €100 million of annual sales.

    After this purchasing Jung became a member of the Executive Board of Deutsche BĂśrse Systems AG. He held that position for almost one year, not longer.

    In 2003 he started to invest in internet and mobile companies.

    Form 2004 to 2010 Jung was investor and consultant in various companies in Germany and over the world. Among others, Xing, StudiVZ, Canadian Beyondtherack, Russian KupiVIP, Brazilian Brandsclub, Markafoni from Turkey. He was an investor in Australian Spreets which was sold to Yahoo 2011.

    The other company sold to the bigger one was Brands4Friends. It was a German company sold to eBay and Facebook.

    Jung founded a lot of companies. In 2007, established the consulting company Springstar. Next year, he founded the real estate investment company Awari Capital GmbH. The core of the Awari business is to buy and hold real estate, essentially in Germany.

    He spread his money and influence in Switzerland too. He was a co-founder of Adinvest II, as a part of Adinvest AG, which is the dominant shareholder of Adyen.

    In 2011, Jung scored with Springstar when the company partnered with Airbnb.

    Jung joined Airbnb full-time and dissolved Springstar in 2012.

    He took the main role in Airbnb’s efforts to develop its business in 72 countries. When this project was done, he moved to Houzz. It was 2014.

    Houzz is an online network for home design and home improvement professionals and Jung developed their international business.

    In the same year, Jung was involved as an investor and consultant,  with SpoonRocket, Artsy, Flightcar, iCracked, and Homejoy.

    Jung, modern German investors, is a partner, at Jung-Miropolski, Investment Manager at Adinvest AG and Chief Executive Officer at Awari Capital GmbH.

    His investments are in Lyft, Adinvest, Airbnb, Artsy, BeyondTheRack, Homejoy, Houzz, Wash.io, Tilt, Ticketfly, and many others.

    Elvir Omerbegovic as one of the Modern German investors

    Modern German Investors 1

    Elvir Omerbegovic is one of the modern German investors too.

    He is an Angel Investor. We add him because his life-story is incredibly interesting. Omerbegovic was born in Germany, in Mettmann, in 1979. But his origin is from Bosnia.

    Actually, Elvir Omerbegovic is a German entrepreneur of Serbian– Bosnian descent. His father is from Bosnia, and mother from Serbia.

    He is a German entrepreneur who is largely known as the founder and CEO of the Hip Hop label Selfmade Records and as President of Rap of Universal Music Germany.

    He played basketball. By the age of 20, he was professional in basketball. At age 16 he also played basketball at a High School in Kentucky, the US for one season.

    When he was 20, he stopped professionally in basketball. Elvir enrolled in college and began studying sociology.

    He merited a bachelor’s degree in Political Science, Media, and Sociology. Later, he received a master’s degree in Political Communication.

    He started building his publishing house from the age of 24. The first repertoires, with which he began to gain success, were Kollegah and Farid Bang.

    Elvir’s milestone was In 1999. He met Philipp Dammann during a community service training in Herdecke, Germany. Dammann alias is Flipstar and he was a member of the Hip Hop group Creutzfeld & Jakob.
    Omerbegovic was interested. He began to perform as a rapper under the name Slick One. Flipstar also gave Omerbegovic opening contacts in the German Hip Hop scene.

    In 2003, Omerbegovic was introduced in the song Game Over for the first time on the Creutzfeld & Jakob album “Zwei Mann gegen den Rest’.

    Over the next two years, he recorded contributions to five releases by Selfmade Records.

    On the track Bruderkrieg, a collaboration with Edo Maajka, Bosnian musician, Omerbegovic appeared as a rapper for the last time.

    He established a music label with Philipp Dammann under the name “Selfmade Records.” Initially, the label was only supposed to work as a platform for Dammann’s publicity as Flipstar.

    But soon he spread his business to the other Hip Hop acts in the region.

    In  2014, Elvir Omerbegovic and Maximilian Scharpenack established the Suckit GmbH. They did it with Marco Knauf and Inga Koster, founders of the company true fruits. Suckit specializes in the production of alcoholic water ice, freeze-pops.

    Soon after sales began by the company’s website in April 2014, Suckit sold almost 30,000 units of its products.
    Today, this merchandise is distributed over numerous supermarkets. According to Suckit, 750,000 units of ice were sold in the first two-year. More than 500,00 just in one year, in 2015.
    Next year they hit the new record, 1.4 million units were sold.

    In April 2005, the sampler Schwarzes Gold was released as the first Selfmade Records production.

    At the end of May 2009, Omerbegovic established the fashion brand Pusher Apparel.

    The new fashion products were combined with the marketing efforts of the album “Jung, brutal, gutaussehend”. Rappers Kollegah and Farid Bang promoted new fashion products.

    Pusher Apparel is part of the network of the Bravado Merchandise GmbH, a sub-company of Universal Music Group.

    The product line fundamentally targets sporty male customers between 13 and 28 years of age.

    The interesting part is that sales are exclusively done via the company’s online shop.

    Many German rappers promote this fashion label. In June 2016, Rappers Gzuz and Bonez MC of the 187 Strassenbande signed a cooperation agreement with Pusher Apparel.

    Later, MoTrip, Marteria, Farid Bang, KC Rebel, Schwesta Ewa, 257ers, Favorite, Joko Winterscheidt, Klaas Heufer-Umlauf, and Micaela Schäfer had shows with the product.

    Why Elvir Omerbegovic is here as one of the modern German investors?

    Because he is a kind of Slumdog Millionaire. He raised in a problematic environment, came from the family with broken roots, but he had the power and strength to fly to the sky.

    Guy Spier is one of the Modern German investors

    Guy Spier

    Guy Spier is a great German value investor and one of the best among modern German investors. He was born in South Africa on February 4, 1966. Spier spent his early years in Iran and Israel. He received a bachelor’s degree from Oxford and an MBA from Harvard. Also, he lived in New York. In 2008 he moved with his family to Zurich.

    Spier is a polyglot thanks to many different countries he lived in.

    His reputation among the value investing community is growing day after day. Spier is well-known for paying $650 000 to have charity lunch with Warren Buffett.

    His 2014 book, “The Education of a Value Investor,” is very popular among investors. It’s one of Amazon’s best-seller.

    Almost three years, from 1988 – 1990, Spier worked at Braxton Associates. Later it became Deloitte Consulting. In 1991, he worked at the European Commission in Brussels.

    Spier started out as a professional money manager in 1997 with $15 million mostly borrowed from family and friends.

    Since then he achieved excellent returns in the S&P 500. In 2011, his profit was 221.6% versus the S&P 500’s 36.7%. That’s an awesome result.

    Spier manages the Aquamarine Fund, an investment partnership inspired by Warren Buffett’s 1950s investment partnerships. He is also a financial commentator in the media, from time to time.

    Aquamarine is fairly restrictive with regards to who it manages money for, and fund information is only distributed by request. Also, the fund inspiration was Buffett’s early investments but Speir is more Benjamin Graham type of investor.

    Meaning Spier prefers traditional deep value investments.

    Just like many other young investors in value investing, Spier’s focus was on Warren Buffett’s investment strategy. It means buying growing companies with powerful moats at fair prices.

    He was really devoted to Buffett’s strategy. He studied every single detail. And he was playing according to that.
    But soo, Spier revealed some errors.

    As Guy Spier explained, Buffett’s strategy has a few major pitfalls.

    “Something I learned during the financial crisis was that when you pay up for a better business, you can suffer greatly when the price people are willing to pay for that business goes down dramatically, as it did in 2008. …I lost more money owning those businesses than I would have if I had owned the right cigar butts…”

    But large declines in price in the periods of bear markets wasn’t the only investment problem that Spier, this modern German investors, detected. He revealed, the GARP strategy also forced investors into doing extreme behavioral errors when investing.

    “If you talk about your stocks, it will affect how you think about them as well as the portfolio decisions you make. At the time, I did not believe it would skew my decision making. But if I go back over the life of Aquamarine Fund and examine my letters to investors, I can see clearly how this created a bias for better businesses, simply because it was more fun to talk about them.”

    This was followed by an admission that he developed a bias for companies that are fun to talk about.

    Say, Buffett was right when calling inflation a ‘corporate tapeworm’.

    So, as a result, we have, emotional prejudices are surely an investor’s tapeworm.

    They make investors overvalue the returns they can expect from specific stock. Also, there can be some misconception about how quick some company will become, or how big profit the business will produce. This trick occurs frequently due to the Halo Effect.

    When investors assume that one single good company’s feature is followed by others, also good.

    The trend to assign or overvalue a spectrum of good features that a company may not truly have.

    For example, you may see the fruit from the South as juicy, sweet, and tastier by virtue of its image. But it may not actually possess any of those attributes.

    The same belief is at play in investing.

    As Guy Spier reveals, you end up paying a large price upfront for a business that is suffering a continual rule of nature.

    And finally, that return on equity will drop. So the company will be far less successful than when you detected it.
    Moreover, the risk-reward correlation may still be in an investor’s benefit, but the company’s margins can face a huge volume of pressure.

    Spier supported firmly Warren Buffett’s principles on Value Investing and capital allocation.

    Today, he also reveals that Value Investing has changed over time.  Well, the reputation and popularity of this style mean that fewer chances are possible to investors. Beliefs that it will work would still be around.
    But the victorious value investor of modern times has to look beyond. Sometimes out-of-the-box.

    And Spier gave that possibility, a critical view on traditional value investing.

    Spier lives in Zurich with his wife and three children.

     

  • Work from Home – Only Some Can Make Money From Home, What Are They Doing?

    Work from Home – Only Some Can Make Money From Home, What Are They Doing?

    Work from home requires discipline, focus, and commitment, but the flexibility to define that yourself.

    2 min read


    C’mon, are you sure you want to go to the office every single day to the rest of your lives?

    Well, I don’t.

    I’m working from home. No matter what you call it.

    Remote working. Telecommuting. Work from home.

    It’s extremely popular.

    And it gives me the opportunity to sit on my porch or in bed and work. Don’t try to visualize me. I’m not what you see on job boards or in stock art pictures. When people think about how to work from home. 

    Many imagine sleeping in late, lounging around in their pajamas and have long slowly lunches.
    Contrary! 

    You need to realize that even though work from home offers a great amount of flexibility, it is still a professional job and it needs to be treated as such. 

    I wake up, get dressed, sit in front my computer, and start to work from home.

    What is one of the important advantages of work from home? 

    Setting office hours is one of them, having a dedicated office space, avoiding homebound distractions, and actually dressing as if you were going to an office.

    That help keep your mindset sharp and focused.

    I can witness for that.

    But it’s not for everyone, and some do it more successfully than others.

    If you are disciplined with your time, and you don’t need a relay with co-workers throughout the day, and you are independent in making decisions, and good organized, this is the right work for you.

    To be effective in work from home, you have to have the excellent critical thinking, organizational and communication skills. Along with being able to block out distractions. 

    It requires discipline, focus, and commitment, but the flexibility to define that yourself. If you want to work from home, of course. 

    The biggest benefits of working from home are its flexibility,  saving money on transportation, dry cleaning costs, lunches were eaten out, child care costs, no boss looming over your shoulder, no co-workers to interrupt you, and no dress code.

    Sound pretty good, don’t you think? You must know that working from home is more productive.

    But, it’s important to let friends and family know that although you’re working from home, you’re still working.

    How To Successfully Work From Home

    1. Get organized – Don’t work too much or too little, get organized systems, schedules, and to-do lists.
    2. Have workspace – You should ensure that your office space imitates that of a true work environment.
    3. Plan your day – This will help you minimize your distractions and maximize your true productive times.
    4. Be computer savvy – This can make your work easier but also can give you the opportunity to have more profitable jobs. One of those kind of jobs is online trading and investing. Stocks, currencies, whatever you want.

    HOW TO TRADE OR INVEST FROM HOME

    Once upon a time, people relied on the services of a stockbroker, who would make buy and sell orders on the customer’s behalf.

    Today, individuals are able to execute buy and sell orders themselves in a fraction of a second using computerized trading services.

    But, reading online articles doesn’t make you qualified to trade.

    Reading the classics of investment literature could be helpful.

    However, the best way is to set aside six months to practice trading with real-world data before investing your money.

    You can use some demo account and practice. After that create a trading fund and open a separate bank account for it. Do what you can to establish a fund that is separate from savings.

    Write down a trading strategy.

    You have many trading strategies available on the market. You can choose your own investment strategies, but you should include the parameters on how you choose stocks or currencies, when to purchase them and when to sell.

    Create a spreadsheet that tracks your investments, establishing parameters for the dates of purchase and sale and the costs involved.

    Buy and sell according to your strategies, and be disciplined with your budget. There will be ups and downs, but don’t deviate from your parameters.

    A lack of discipline leads to bigger losses and failure.

    When you’re looking for an online broker, consider the costs of each service the brokerage provides and the level of support you will need from qualified brokers.

    Choose your brokerage partner with open eyes!

    Before deciding to buy or sell any stock, you should carefully research the company, its leadership, and its competition.

    You don’t need a large sum of money to start.

    If you prefer to be a do-it-yourself trader, you can make use of discount online broker services. One that allows you to buy and sell not only stocks but also options, mutual funds, exchange-traded funds, fixed income funds, bonds, certificates of deposit, retirement accounts and more.

    You will make the final decision on each investment and whether or not to buy or sell. Make intelligent decisions about what you can afford to invest. Consider investing a portion of your money in an electronically traded index fund, which holds many stocks.

    There are no magical advantages, secrets that can make you more successful.

    It is a misconception of beginners in trading or investing.

    Remember several things:

    The professional trader doesn’t make money or have a job unless they are profitable. They realize that trading is NOT a fast and easy way to riches.

    You must have a strategic trading plan, proper risk management, and simple strategies to protect your investment and reduce risk whenever possible.

    Make a solid 2% gain than risk thousands of dollars for a possible 5% gain with considerably higher risk unless you are the gambler.

    Long term thinking on every trade and realizing that keeping money is sometimes more important than making huge gains.

    Some traders at home don’t want to take the time to learn the skill of technical analysis indicators.

    If you commit time to these indicators and understanding how they work (and don’t work) I can promise you will start to trade more consistently.

    And know what, those of us who have worked from home for years wouldn’t dream of going back to a corporate office.
    Ever. At any point!

    Risk Disclosure (read carefully!)

  • Making Money From Home – How Is It Possible?

    Making Money From Home – How Is It Possible?


    An ideal job for most of the young people is remote work and here are some possible jobs for making money from your home.

    By Guy Avtalyon

    Making money from home is possible and maybe the most popular these days.

    But, what do your fellows or cousins say when you express your desire to make a lot of money from home?

    Most of them say: “Okay, then go to school. Be a good student. Find a good job and work hard. ” You already know that, and it’s great to have an education. But this is not a guarantee that you will make big money.  On the other hand, you know that there are many people who make a lot of money in a relatively easy and effortless way.

    And whenever you mention to your crowd that you know some guy or girl who are making money from home, what answers you have as feedback?

    “He’s/she’s a thief.” “He/she has connections everywhere.” “It’s not an honest business.” “He/she was lucky.” “He’s/she’s one in a million.” And a bunch of similar stories.

    Yeah! Tell me something about that!

    However, these are just excuses.

    OK, the truth is that you have to work for money. But it is not enough just to do something. It’s important to do it SMART.

    There is a saying: Do it smart, not hard.

    And that’s true. If hard work is the only important thing to gain wealth, all the people in the world would be at least millionaires.

    What does SMART work mean and how can you make money without HARD work?

    It’s very simple.

    Smart work means doing the work once, then for months (sometimes for years) to enjoy the fruits of your work.

    Passive income is making money from home

    When you heard someone say, “I started looking for ways to get a passive income.”
    Probably never.

    But you’ve heard a thousand times: “I started looking for a job.” (Or worse: “I’m waiting for a job.”)

    And when you try to explain passive income to someone, they immediately say that you are lazy.

    I’ve heard of innumerable ways of passive earning. You can write a song, record a home video, patent an idea, write a book. You can sell handmade on Etsy, you can be freelancer, virtual assistant, or you can sell cookies. Or even simpler, you may begin to earn money from home, by trading.

    With the rapid development of computers, mobile devices, and faster Internet, there are more and more opportunities for automating some jobs and generating passive income.

    I’ll give you the ultimate beginner’s guide to trading online. First of all, you have to recognize different kinds of trading.

    What to trade while making money from home

    STOCK TRADING: That is the art of buying, holding, and selling stocks (also called shares) of securities listed on public stock exchanges.

    FOREX TRADING: That is the art of buying and selling currencies in the hopes of making profits on the difference in the value of such currencies in global economics.

    OPTIONS TRADING: That is the form of derivative trading in which people trade contracts that give them the rights (but not obligation) to buy or sell an underlying asset at a predetermined price.

    BINARY OPTIONS TRADING: Form of trading in which traders expect to earn a predetermined payout or nothing at all (they are also called all-or-nothing options) based on the success of their ‘prophecy’ of the outcome of a specific market event. Little complicated and not secure.

    YOUR FIRST TRADE

    You’ll need to decide on the kind of assets or securities you want to trade. After that, you’ll need to make is choosing the right broker or brokerage firm through which you’ll access the markets. That’s very important because the broker you choose will have a direct influence on securities you’ll be able to trade, on tools you’ll have at your disposal, how much you’ll pay in fees, and what final returns you can expect on your trades.

    You have to find a broker that would charge relatively low fees and provide you with a full package of resources to make your trading experience easier.

    TRADING STRATEGIES

    The main difference between trading and investments is that a trader seeks out market movements for profit, on the other hand, an investor waits to profit from long-term price movements in the assets in their portfolio. A trader will make tens or hundreds of trades within a week while an investor will buy and hold an asset for months or years. The first action in creating your trading strategy is to create a trading plan.

    A trading plan is like writing a business plan for some entrepreneurs. It will help you to make a realistic decision in periods of rapid market movement when your emotions might lead you to make impulsive decisions.

    A trading strategy should include specific goals such as: getting out of debt, retiring early, making your first million. Also, your trading strategy should include your asset allocation and diversification moves.  As a beginner, you shouldn’t put more than 5% of your trading capital per trade. Make sure your trading strategy contains a mix of fundamental analysis of global events, like wars that impact oil prices, but also technical analysis like trading rules based on price and volume transformations.

    It is important because you can use this information to determine your entry into trades, your exit when the trade goes your way, and your escape when the trade goes against your plans. In you, your best interest is to develop the disciple to incorporate stop/limit loss orders into every trade you place.

    New traders can use technology to lower the entry barriers to trading by automating many of the activities.

    THERE ARE SOME OF THEM:

    * Trading bots – This is simply computer programs with instructions based on a predetermined set of market indicators and parameters. You can use automated trading systems to trade stocks, options, futures, and foreign exchange products. It is based on a predefined set of rules, which determine when to enter an order, when to exit a position and how much money to invest in each trading product. Trading bots are especially helpful to beginner traders and sometimes, a bot can be an important market ally for reducing your losses.

    * Stock screeners – That can help you filter the stocks in the market to narrow down potential winners before their big breaks. Screeners are helpful to identify top winners and losers, stocks on momentum, and stocks that are possible to break out above resistance levels or break down below support levels.

    * Social trading – This is a type of trading in which traders rely on users’ financial content, gathered from different networks. This type of trading provides you the platform, so you can be part of a society of successful traders. That may help you to make your own trading decisions.

    WHAT YOU HAVE TO REMEMBER

    Always use a trading plan, don’t underestimating the importance of a trading journal, change trading strategy after every trade.

    Test your trading skills on some FREE DEMO ACCOUNT in a virtual environment before you start risking your own money. Practice trading strategies so that when you’re ready to enter the real market, you’ve had the practice you need.

    Do you have any experience in trading? Share with others.

     

  • Why Are There People Who Profit In Trading?

    Why Are There People Who Profit In Trading?

    Are They Smarter Than You? Be one of 8 percent.

    3 min read

    Each of us would like to be successful in what he is doing. It’s natural. Each one of us has asked himself several times in life: Why some person is successful and someone is not?

    There is a study by the University of Scranton (Pennsylvania, United States) that says that only 8 out of 100 people manage to achieve their goals. I believe that every one of us, at least once in life, has found her/himself among these 8%.

    If you are not satisfied with your success, look at what successful people are doing.

    The difference between successful and unsuccessful people is reduced to the difference in their habits.

    Eh .. now! Let’s talk about whether successful traders are smarter than us.

    Why are there people who profit in trading?

    You were thinking about becoming a currency trader, but are you discouraged at the very beginning by the fact that you are not sufficiently educated in the field of finance?

    Or you think that you simply can’t be a successful trader if you don’t have previous experience in working in finance?

    If you think that way, you are wrong!

    On the market exists and successfully works a huge number of people without formal financial education, who started off without a big initial capital, and also did not work in a team of analysts like banks such as Goldman Sachs.

    People who profit in trading

    If we analyze entrepreneurs as people who have gathered the courage to enter the raw world of capitalism on one side and traders who independently trade currencies on the other, we will find plenty of similarities between them. Both of them invested their money and took the risk of their actions. From this point of view, for the people who profit in trading, trade is just one type of business, not a gamble or betting. As in any other business, in order to achieve maximum profit, it is necessary to possess certain skills.

    The skills of successful traders

    First of all, I want to remind you that real traders do not start from the idea that they can become millionaires overnight, but from the idea of securing a stable and regular income. Sustainability and consistency are key factors in this business. Therefore, certain rules should be followed:

    1. Define a trading system

    Under the trading system, we mean a set of rules that you must respect when opening/closing a position. Whether you get to the right system through a series of unsuccessful attempts and a random hit, or you will use some of the existing systems and recommendations for creating a trading system, it’s your own decision. The advantage of creating your own system is that you can adapt it to your own needs, your personality and psychological characteristics. However, if you move “from scratch” this job will cost you a lot of time and money. Instead, the advantage of using a “borrowed” system lies in the fact that your adaptation and adjustment to your needs will cost you considerably less.

    1. Basically, everything is hard work

    I’m sure you have been in a situation to hear comments that the trader’s job is exactly what one wants to do. You do not have a strict job or working hours, you can work from anywhere in the world, you can be on the beach, have a cocktail and trade, or in a Jacuzzi in a magnificent hotel. You only need a laptop or smartphone with an internet connection. However, there is also the other side of the medal, and it is the mental effort that needs to be invested in this business so that it can be profitable. You will rarely be able to read about it. Remember that success is hard and hard to succeed. Work, discipline and patience. That’s what’s needed. That’s what’s worth. Hard work and sacrifice. Without it, there is no profit. Cocktails on the beach are just great commercials.

    1. A set of skills

    Trade was never a prediction game. First of all, nobody knows what will happen in the future. The currency trade can be somewhat comparable to the game of imitation. Your job is to monitor, monitor, monitor, analyze, and try to identify the psychology and way of thinking of the main participants in the market. Traders follow the movement, but they don’t deal with predicting the future.

    To succeed, you will have to learn to think differently from most people. The vast majority (over 90%) represent a group of people known as “losers”. Moreover, to win, you need to know more than 90% of others. It’s not easy, but it’s feasible.

    Avoid these mistakes

    Three most common mistakes that traders make are:

    The first mistake, they don’t test their forex trading strategy. They find a strategy somewhere and decide that this system is right for them and start trading with real money with the help of it. Unfortunately, even if the system is profitable, for new dealers is very difficult to make intelligent decisions in trading if they have not tested the system for themselves before.

    Another mistake made by traders is that when they have a closed-to-minus trade or a few failed trading, they are leaving the current strategy and looking for “better.” This is related to the above mentioned first mistake. If you’ve proved to yourself that the strategy is profitable, then why should you ask for another method? The fact is that every system or strategy will have trades closed in the minus. This is something that is normal to happen and just because it happened does not mean that you have to change the strategy!

    The most common mistake

    The third mistake and it is very common for many traders, is to risk too much in the trade. They have read about the strategy and feel that they have understood it fully and then jump into the market by risking 10 or more percent of their account in the hope that they will get a lot of money and earn a lot. To repeat, Forex trading does not work that way. Imagine yourself and your emotions that you would spend to lose 10% of your order in a single trade.

    Also, for the psychology of trading, the following is also of great importance:

    – Monitor the global trend
    – Don’t run for profit/loss ratio
    – Replace the strategy
    – Change focus
    – Reverse the direction of trade
    – Consecutive trading
    – Lack of evaluation of the plan and strategy

    And learn. Continuous learning is a habit of success. Even when you are tracking successful traders, you actually learn from them. Hence, that’s how you will become one of the people who profit in trading.

    You would like to read Forex Trading – Simple Tricks to Master it

    Risk Disclosure (read carefully!)