Definition of foreign exchange position
Transactions in your account, such as buying or selling euro/dollar currency pairs, are called positions before the transactions are open.
Holding positions in foreign exchange trading requires patience.
Livermore's famous saying: All I have to do is sit still and watch the market develop according to its market. I know that if I do this, the performance of the market itself will give me a signal to make a profit at the right time.
If you want to succeed in the foreign exchange market, you can't do it without hard work! Can I use it next? Five mentalities? Let's explain how to do a good job in foreign exchange trading.
1, do you want it? Foreign exchange? Interested in this industry, right? Passion? . This is a driving force, the first condition, if you don't love this industry, it is difficult to go on this road.
2. Is there? Determination? I believe I will definitely walk out of a bright road. If I can't do it well, I won't look back!
3. In the process of foreign exchange trading, your analytical ability? Confidence? ,? Confidence? What is that? Bottom spirit? Lack of confidence is easy to produce? Afraid? Mentality.
4、? Hold your ground? Do you have to have it? Patience If you can't stand it, you will make great plans. How can you make a fortune without patience?
You can't succeed in foreign exchange trading in one day if you don't have enough to eat. Do you need one? Perseverance? Persist in learning, constantly sum up and improve yourself.
What books have I read in my foreign exchange trading career of more than eight years? One person tall? Make a trading plan before 7 o'clock every morning, and sit in front of the computer at 8 o'clock on time to observe the market changes. It is also very hard to analyze your trading records every weekend, find out the shortcomings, study hard, sort out your ideas and sum up your experience.
? I believe I can succeed? It is because of this belief that I was encouraged and achieved today's results. Here, I want to emphasize patience. Sakyamuni Buddha said: I know all the laws without me, so be patient? In other words, no matter what you do, you have to be patient if you want to succeed, and so does foreign exchange trading.
Length of foreign exchange position
It is very dangerous to hold a foreign exchange position for one week, and there are two days in between. There are many factors affecting foreign exchange these two days. We don't know what will happen in these two days. Looking at the past foreign exchange trend, there were many K-line gaps in the past week, some of which were very large. If you feel that the situation is good and don't want to lighten up or close your position, you can set a stop loss. When you are in a position, you must set a stop loss.
Also, your foreign exchange attitude must be positive, and don't let the ups and downs affect your judgment. You can ask if you need anything.
Here is my personal experience. To be a master of foreign exchange is to make trends, first judge the big trends, and then find opportunities to make big trends in small bands.
Stop loss and take profit should be set. If you are afraid of taking profit and lose the part you should earn, you can set up a dynamic take profit.
From 7: 00 p.m. to 1 1, there is a big fluctuation, and this is the best time to make orders. I hope I can help you. And make a summary when completing each order. It depends on the historical trend, and then simulate that it was you at that time, and you would go long or short, and then summarize.