3. mistakes are inevitable. Learn from it and don't repeat it.
Mistakes and losses are inevitable. Don't blame yourself. It is important to learn from it and avoid making the same mistake again. The sooner you learn to accept losses and learn from them, the sooner the day of profit will come. In addition, learn to control your emotions. In trading, the less personal emotions, the more you can see the market clearly and make the right decision. We should face the gains and losses with a calm mind and understand that traders grow from losses.
You are your biggest enemy.
The biggest enemy of traders is themselves-greed, impatience, out of control, unsuspecting, egoism and so on. It is easy for you to ignore market trends and lead to wrong trading decisions. Don't trade just because you haven't been in the market for a long time or you are bored. There is no certain standard for how much you want to trade in a certain period of time. Even if you only open your position in 2-3 days, you can still make a profit of 600-800 dollars, which shows that your decision is correct and correct.
4. Record the daily details of the factors that determine the transaction.
Record the factors that determine the transaction, whether there are any event news or other reasons for you to make a transaction decision, and then analyze and record the profit and loss results after making the transaction. If it is a profitable transaction result, your analysis is correct. When similar or identical factors reappear, your trading records will help you make correct trading decisions quickly. Of course, a loss-making transaction record can help you avoid making the same mistake again. You can't keep all your trading experience in mind, so this record will help you improve your trading skills and find out where your mistakes are.
5. Learn from others' experiences and viewpoints.
Trading decisions should be based on their own analysis and feelings about the market, and then refer to other people's opinions. If your analysis results are the same as others, that's good; If it's different, don't be too embarrassed. However, if the analysis results are really different, and you begin to doubt your analysis, it is best not to conduct real transactions at this time, but only to conduct simulated accounts. If you have confidence in your decision, don't hesitate. Just do it, and one of your multiple predictions will be right. If your prediction is wrong, find out where it is. If you are a novice in foreign exchange, you can learn the basic knowledge of foreign exchange first and watch the novice learn the video column. Learning while watching is essential for beginners to learn and analyze theoretically, so that novices can have their own gains in foreign exchange investment.
After understanding the basic knowledge, we should pay attention to the trading time and some trading methods. Although the foreign exchange market is a 24-hour transaction, there are still some skills in the choice of trading time. Here are some trading experiences.
London market: London is an old financial center in the world, and banks in various countries are used to starting large-scale transactions after the opening of the London foreign exchange market. Therefore, the fluctuation of the global foreign exchange market will intensify with its opening up, and the opportunities for individual investors will gradually increase during this period. Factors such as the European Central Bank's interest rate decision, Germany's IFO prosperity index, the GDP of the euro zone countries, and the consumer price index of the euro zone countries will also play a role in fueling the situation.
New york market: As the US stock market is the largest capital flow center in the world and new york's foreign exchange market is also the most active in the world, its high activity means that investors' profit opportunities increase. In new york's foreign exchange market, a series of fundamental data, such as US GDP data, interest rate changes, producer price index, consumer price index, unemployment rate and the public statement of the Federal Reserve, will have an important impact at this time.
Tokyo market: Tokyo foreign exchange market is the largest foreign exchange trading market in Asia, but the smallest among the three major foreign exchange markets. During the trading hours in the Tokyo foreign exchange market, only the Japanese yen may fluctuate. Therefore, speculators who are used to doing yen trading often start trading at this time.
Paris market: Paris market consists of tangible market and intangible market. Its tangible market mainly refers to the foreign exchange trading of the Paris Stock Exchange, and the trading method is the same as that of the securities market. The official foreign exchange quotation is published every day, and the exchange rate of foreign exchange against the franc is a direct quotation. But a large number of foreign exchange transactions are conducted outside the exchange. Foreign exchange transactions outside the exchange are either directly bought and sold by both parties by telephone or through brokers.
Singapore market: Singapore market became an international foreign exchange market only after the Asian dollar market was established in the early 1970s. Singapore is located in Europe, Asia and Africa, with a superior time zone. You can trade with Hongkong, Tokyo and Sydney in the morning, London, Zurich and Frankfurt in the afternoon, Bahrain in the Middle East at noon and new york in the evening. According to the needs of trading, foreign exchange transactions with various regions around the world are carried out 24 hours a day.
Prime time: compared with Beijing time, it is 24 hours, and 20: 30-24: 00 (daylight saving time) is the overlapping trading time between London market in Britain and new york market in the United States. It is a densely populated area for foreign exchange transactions of banks in various countries, and it is also the time with the largest number of block transactions and the most frequent market fluctuations. The more frequent fluctuations in the foreign exchange market mean that speculators have more opportunities to make money.
Generally speaking, the local currency will be more active during trading hours in the local market. For example, the Australian dollar and the Japanese yen were more active when the Asian market opened, the euro, the pound and the Swiss franc were more active when the European market opened, and the US dollar and the Canadian dollar were more active when the American market opened.
In addition, it should be noted that as long as there is no foreign exchange in the foreign exchange trading zone, it belongs to over-the-counter trading, and there is no concept of opening and closing positions, mainly according to the normal schedule of local people. Generally speaking, the trade summit will be held between 9:00- 17:00 on the local normal working day, because local people are used to handling work during this period.