Five Mindsets for Foreign Exchange Trading

Foreign exchange is generated along with international trade, and foreign exchange transactions are a tool for international settlement of creditor's rights and debts. However, in the past ten years, foreign exchange transactions have not only doubled in quantity, but also undergone significant changes in substance. Foreign exchange transactions are not only a tool for international trade, but have also become one of the most important financial commodities in the world. The types of foreign exchange transactions are also becoming more and more diverse with the changing nature of transactions. Want toforeign exchange marketAchieving success in China is not possible without effort. Below I use the "five hearts" to explain how to do a good job in foreign exchange trading.

1. "Enthusiasm" 2. "Determination" 3. "Confidence"

4. "Patience" 5. "Persistence" Summary: "Torment my heart"

1. "Enthusiastic"

You need to be interested in the "foreign exchange" industry, that is, "enthusiastic". This is a driving force and the first condition. If you don't love this industry, it will be difficult to continue on this road.

Why do Wenzhou people love foreign exchange speculation?

Many people say that Wenzhou people are born businesspeople. Their innate business genes and acquired strong entrepreneurial culture have created a unique business concept: never let go of any opportunity to make money. Today, in the heating foreign exchange market, this trait is vividly reflected. From January to November last year, Wenzhou's foreign exchange trading volume reached 27 billion US dollars, which is second only to Beijing and Shanghai, ranking third in the country, supporting two-thirds of the foreign exchange trading volume in Zhejiang Province.

Why is a small Wenzhou sitting on the "third place in the country"? Behind its huge trading volume, who are the active figures? Why are they so enthusiastic about foreign exchange speculation?

Wenzhou people love to let foreign exchange money make money, and Huimin is an interesting group

One person a year fried 200 million trading volume, Wen Zi walks in the world's foreign exchange market

Wenzhou has the third largest trading volume in the country, making money flow better than not moving

2. "Determination"

Have "determination" and believe that you will definitely walk out of a bright road. If you don't do it well, you won't look back.

Study the K-line to make up your mind

Those who have read my so-called secret of foreign exchange speculation may be confused by the following sentence: look at the general trend first, then think about the fundamentals; popularity is not deceiving, the theme changes back and forth; as long as you don't understand, analyze the daily K line. In fact, the core of this sentence is: when all the trends, data and popularity analysis are completed, you must study the daily K line and the weekly K line before making a decision. And when other conditions cannot provide guidance or the sense of direction is not strong, you must also study the daily K line and the weekly K line. Now, it is time for us to study the daily K line and the weekly K line. This time, the leader of non-US currencies, especially European currencies, was the pound sterling. After breaking through many resistance levels, the pound created a trend of more than 250 points for two consecutive days. But just when investors were at a loss, it stopped near 18480. Let's analyze this position. It turns out that it is the upper rail of the sterling decline channel, and it is also the lower edge of the double pressure level of the semi-annual line and the annual line. If this position is broken, the front line of the dollar defense war will completely collapse. Will the dollar collapse? If there is no hurricane, the dollar may collapse (such as war and double deficit), but when the hurricane does have a huge impact, the dollar cannot collapse. The reason is simple: the world cannot agree that the dollar suddenly goes to hell. Just as the world participated in the oil price defense war after the hurricane, government intervention is most likely to occur when emergencies come. If the developed countries of the world intervened together, the dollar would not fall sharply, even if the hurricane did cause huge losses.

3. "Confidence"

In the process of trading, you must have "confidence" in your analytical ability. "Confidence" is "confidence". If there is insufficient confidence, it is easy to have a "fear" mentality.

Foreign exchange speculation: less regret, more confidence

The author has been working in financial investment for many years, and the biggest gain I have gained in the foreign exchange market is to learn not to regret. How can life be short of regrets? Regrets are an indispensable seasoning in our lives. If there were no regrets, the world might not be so wonderful. If there were no regrets, the world might not be so colorful. If there were no regrets, the world would be less beautiful.

I have also regretted it. When I first entered the foreign exchange market to speculate on foreign exchange, I often regretted and regretted it. I also often regretted, either regretting the wrong trade or missing the trading opportunity, and my colleagues often heard my complaints. For example: "I originally wanted to go long (short), but somehow I went short (too much) and lost money again!" Or "I originally wanted to do it, but I had already placed all the orders, but somehow I withdrew the order. Or I missed this wave of market after waiting for a long time. Hey, I regret it to death!" Why does this happen?

I believe that many foreign exchange speculators have the same experience as me! The reason here is very simple. It is because these investors, like me who just entered the foreign exchange market, lack sufficient confidence in the market outlook and the judgment of the market before making a trade. When making a trade, their minds are full of various judgments and ideas, both bullish and bearish; both want to make and afraid, very contradictory, and there are often completely different judgments in their minds at the same time, so they often make transactions or choose to wait and see in hesitation and doubt.

4. "Patience"

When "holding a position", you must have "patience". If you can't bear it, you will make a big plan. How can you make a big profit without patience?

What are the top 10 mistakes that stand in the way of your success in foreign exchange trading?

Editor's note: In the process of foreign exchange trading, it is not only necessary to seek opportunities to make profits in the market, but also to try to avoid traps that can be seen everywhere in order to succeed in the market. In fact, it is difficult for most professionals to tell you which trading methods you can master to win in the market, but there are some general market rules that investors must strictly follow so that they will not be out of line and find opportunities to succeed.

1. Without a good plan in place before the transaction.

2. Improper allocation of funds or poor management of funds.

3. Expectations are too high, eager for quick success.

4. There is no stop loss.

5. Lack of "patience" and "rhythm".

6. Go against the market, or try your best to grab the top or bottom.

7. Loss-making positions stayed for too long.

8. "Overtrading".

9. You can't take personal actions on your own.

10. The overall operating trend of the market is uncertain.

5. "Persistence"

You can't eat a meal in one bite, and foreign exchange can't be done in a day. You need to maintain a "perseverance", insist on learning, constantly summarize, and improve yourself.

Foreign exchange speculators: The secret to becoming the richest man

When Mr. Cai Wanlin, the founder of Taiwan's richest man, Lin Yuan Group, was alive, many people asked him the secret to becoming the richest man. He said there was only one sentence, which was "perseverance, patience, and keep doing it". It's so classic, in fact, this is the secret to success in foreign exchange.

In the early stages of starting foreign exchange, I always felt that it was not going well. How to do it and how to lose, as long as you enter the market, you will lose, or you will always lose more and win less. But after paying the tuition fee for a while, you can gradually find the rhythm of the market and find out the operation method that suits you. For example, using a platform like IG Forex can help you adapt to the rhythm of the market faster with the tools and resources it provides. Unfortunately, however, most investors lose patience after trying it a few times and stop operating, or fishing for three days and drying the net for two days, intermittently. The winning band that should be mastered did not enter the market, but the band that should not have entered the market. The opportunity to lose money is all entered. In the long run, how can you not lose.

Summary: "Torment my heart"

After all, success is made by "torturing my heart" through countless losses and profits.

50 tips for investing in foreign exchange

The lesson of blood, the price of money, and the summary of 50 investment methods

01: Please treat stocks that are rising in volume with caution.

02: Wall Street Quote: Contrary to the trend is the beginning of failure.

Wall Street Quote: Failure results from a lack of capital and wisdom.

04: Cultivate the concept that earning often is more important than making big profits.

05: Short-term victory is not as good as long-term victory, long-term victory is not as good as eternal victory, and eternal victory is steady profit without loss.

06: Choose stocks you are familiar with to operate.

07: The opposite of the crowd. When people rush in, sell their holdings, and when the market is thin, buy stocks.

08: Decide to be rational, and avoid impulsive entry and exit into stocks.

09: Veterans wait a lot. The hardest part of the stock market mindset is waiting.

Patience is the key to victory, and getting out is the best way to avoid itchy hands.