Be sure to divide your cashbackforexbroker forexrebateclubto two types: one forex rebate club big money trading (money so big that you can play to your hearts content), cashbackforexexness the other is small and medium-sized money trading Why must you distinguish between them? Because the strategies of these two kinds of trading are different, so we discuss later, do cashback forex mix them up For big money, they do not pay attention to the technical side, they are technical producers, they only pay attention to the international economic situation, and even create momentum, the market because they change, such as Soros and so on; for small and medium-sized funds, is pure technical flow, take the strategy of the trend and I belong to the small and medium-sized funds trading. In the back of the exchange is also mainly to this catalog 1, trading technology can not be taught 2, what is the way of trading 3, heavy position is equal to the death penalty 4, your so-called "day trading" 5, win rate, odds and money management 6, survival first, earn big and lose small 7, trading "four rates ": win rate, odds, bankruptcy rate, discipline 8, plan your trading, trading your plan 9, after uncovering the bride turned out to be so ugly 10, if profit and survival contradict each other, choose to survive! 11, the nature of trading is the reverse human nature 12, the difference between trading and gambling is the capital management 13, practical chapter: how to choose a foreign exchange platform 14, foreign exchange market There is no holy grail? 15, foreign exchange large capital manipulation 16, individual investors how to do a good job of risk control? 17, revisit Jesse Livermore 18, with 3 months to play a firm net worth safety cushion 19, a year of 55% profit schedule 20, do a single person is divided into six categories 21, trading difficult where? 22, discipline and wolf 23, the holy grail of trading - -Money management24、Professional trader is will not lose money? Content 1, trading techniques can be taught? This question, our predecessor Richard Dennis has long given the answer through the sea turtles experiment, we can find: the turtles are not every success; turtles left Dennis, success is simply a handful So, I think trading can not be taught, we can teach is only knowledge In other words, if you want to be successful in trading, you must apply their knowledge In other words, if you want to be successful in trading, you have to apply your knowledge to your own trading, and to identify deeply in your mind to be able to I have seen but all successful traders, are strong in their beliefs to the extreme, they will often hint at themselves Of course, there is a quick way to achieve that is to fully believe in a person and accept his trading thinking, supervised intensive training for a long time So, trading can not be taught, but So, trading cannot be taught, but it can shorten the time to success, so what can you learn from reading this article? Some of the essence of trading only, as to whether this can become a tool for you to earn profits, depending on your own understanding, really do know the unity of action, is the great wisdom 2, what is the way of trading? Eight words: survival first, earn a small loss really understand the eight words, you understand the essence of trading first of all, what is "survival first" into this market, the purpose of all people are to make money since to make money, we must consider a long-term survival of the problem, if you can be clever to play once on the go, and is to earn on the go, the loss does not matter. If you are smart enough to play once and leave, and is to make a profit and leave, it does not matter, you do not have to pay attention to the topic of "survival" That is, forex trading is a long-term stable and profitable process this process, we have to go through countless transactions, it does not matter each transaction gains and losses, we are concerned about the final result but we want to continue to survive in this market, it need to have the principal, the basic conditions of this survival principal is not a constant deposit, but a sum of money to persevere and persevere until the final victory "Sun Tzu Art of War" says: "good warrior is not shy to go, the good warrior of the past, first for the invincible, in order to wait for the enemy can win, not win in their own, can win in the enemy ....." I hope we can understand the importance of survival, more experience 3, heavy positions equal to the death penalty survival or destruction, many people know the pros and cons, but why many people in the transaction often fail? Human nature often leads us to rush to get rich psychology, preferably overnight riches based on this psychology, will lead to heavy and frequent trading two kinds of behavior heavy trading will lead to two consequences: one is a big profit, but the thought guides behavior, behavior will become habit, and habit determines a persons success or failure so even if you first heavy position to earn, you will still be heavy next time, the final result can be imagined, your habits determine You will eventually die in this market; a kind of big loss, we can show from a mathematical point of view to show the horror of the big loss of 5% loss, the later flat need to profit 5.26% loss of 10%, the later flat need to profit 11.11% loss of 20%, the later flat need to profit 25.00% loss of 30%, the later flat need to profit 42.86% loss of 40%, the later flat need Profit 66.67% loss of 50%, the late leveling need to profit 100% loss of 60%, the late leveling need to profit 150% loss of 70%, the late leveling need to profit 233.33% ...... So, heavy positions are equal to the death penalty 4, you so-called "intraday trading "followed by frequent trading now many trading markets, including futures, spot, foreign exchange, many people like to do day trading of course, all roads lead to Rome, not day trading is not good, but you should ask yourself whether they are suitable for day trading As far as I know, the requirements for doing day trading is extremely strict, the U.S. stock day traders need to stop loss is extremely small, and at least I have met an investor who said that only 1% of the daily earnings, a month will be able to reach 20%, is not a beautiful account I have met an investor who said he only needed 1% a day to reach 20% a month, is not a good account, but the results can be imagined first of all, the commission aspect, frequent trading requires a large commission, the commission is enough to eat a large part of your profits Secondly, frequent trading requires a super high win rate, iron discipline, strong nerves, time-tested systems, etc., ask yourself if you have? Neither heavy positions, nor frequent trading, how in the end we should be profitable? In a word: profitability through money management Speaking of money management, many people have heard of it, but simply do not understand the reasoning behind it We first need to introduce a concept: bankruptcy rate Bankruptcy rate involves the interrelationship between win rate and odds, which I will analyze in detail later People do not resist change, but resist being changed to say a million words, if you do not identify yourself internally, and strongly suggest themselves, in the end, or No, change comes from the inner thoughts of each person to guide behavior, behavior to form habits, many habits concentrated in your body to form your character, and character is the key factor to determine success or failure, so your life by you not by the sky, if you are currently a failure, you first need to try to change yourself, to accept, to tolerate, to think, to change the concept of ideas to change after the success can be logical, otherwise Still no source of water, give up or complete failure is only a matter of time 5, win rate, odds and money management trading in the end there is no holy grail? Do you think there is a 100% correct trading system in this world? When you look at a persons trading level, are you limited to his win rate? Are you still struggling to learn to improve your win rate? Is there a holy grail in trading or not? I tell you for sure: there is! But certainly not in the direction of your thinking with a small example to illustrate the problem: a harmless little gambling game, rule one: If A and B each have a thousand dollars, with a coin toss to decide to win or lose, heads up, A win a dollar, and vice versa, B win a dollar, then a long bet, A and B who will not win, nor lose this point think we have no objection, right, because from the probability, the more times the toss, out Positive and negative chances are closer to 50% change the rules (rule two): If the positive A win a dollar, the opposite B win 0.95 yuan, this time, if you are B, will participate in this game? If you participate, you will lose! In this A and B win rate unchanged, but the odds have changed, at the beginning is 1 to 1, so A and B do not lose, but now changed to 1 to 0.95, then B in the case of 50% win rate, lose on a dollar, earn on 0.95, a long time down, its a thousand dollars must change owners please think carefully about the above-mentioned win rate and odds, you will have an essential understanding of the casino, the lottery probability The concept in most peoples minds is still very vague above A win on a dollar, lose on 0.95, in a thousand dollars of capital, the win rate of 50% of the case of winning is set to change the rules again, to undertake rule two: the other unchanged, each bet 500 yuan, A win earn 500, lose 475, B win earn 475, lose 500, please ask, this time, A party is sure to win the feeling there is no? If not, why? Dont think Im asking this question, please think about the above small example, the way of trading is in it. This time, the feeling of a sure win is gone, because one thousand dollars is only enough to gamble twice, the win rate remains the same, the odds remain the same, but the feeling of a sure win is gone, the expression here is a little long-winded so it can be seen that you have a system with a 50% win rate, the odds are also on your side, but you dont do a good job of money management, in the end it is still zero! What do you think of a system that has a 30% win rate, but a 1 to 3 payout? I would say that it is a good system why? Look carefully at the analysis: 10 times for a trading cycle, each time to earn on 3, lose on 110 full losses, 109 losses, 1 pair, 68 losses, 2 pairs, 27 losses, 3 pairs, earn 2 (please note that this is the case of 30% win rate, odds of one to three) 6 losses, 4 pairs, earn 65 losses, 5 pairs, earn 104 losses, 6 pairs, earn 143 losses, 7 pairs, earn 182 losses, 8 right, earn 221 losses, 9 right, earn 2610 all right, earn 30 Therefore, do you still think that the root of making money lies in the correct rate? Now, are you you understand why the money-making masters can often be wrong and still end up making money on their accounts? Is it possible to understand Dennis said that 95% of his transactions are losing money, making money on only 5% of transactions, as usual, can create such a large profit? So, isnt it time for you to change the criteria of the masters you admire? People tend to be attracted to things that do not work, and some people specialize in giving you these things, can you blame him for lying to you? No, you are the one who is blind! The key to achieving the above system is to do a good job of money management, because even if you have a set of 70% win rate system, you are likely to encounter 30% of the failure of the transaction first appeared, at this time, if you can not do a good job of money management, then the later 70% profit trading has nothing to do with you, because you have burst or loss in the end off 6, survival first, earn big and lose small in the face of interest people tend to choose conservative, in the face of risk People tend to choose aggressive This is the bias of human nature, but also the vast majority of people in the market defeat of the root of the second, one has already said, is to get rich heart too cut about this, you can go to refer to the experiment of Shapinow, or behavioral psychology specifically, in the transaction, if the entry made the right direction, with a floating profit, then the human reaction is defeat for peace, to make the decision is to face the interests of the time of conservative; if If you enter the wrong direction, there is a small floating loss, then the reaction of human nature is to take a chance, the heart of a fluke, maybe the late can reverse defeat into victory statistics show that 80% of the cases can survive to reverse defeat into victory, but is that 20% reverse a go, so that the market and a few more losers commonly said the above phenomenon is: eat like a sparrow, pull like an elephant! So you look at their own transactions, is to earn big to lose small, or lose big to earn small? After this you will know where you should work on the direction of the trading way: survival first, earn big and lose small! This is like the martial arts of the internal art of mind, with this mind, do not dare to guarantee that you make a big profit, but can guarantee that you walk in the right way how to do earn big and lose small? First, without adding or subtracting positions, according to your own system win rate to decide for example, your systems statistical win rate of 30%, then to make money your odds should reach 1 to 3, specifically if you enter the average loss of $1, then you have to earn an average of 3 dollars to be able to but if you are very high level, the system win rate of 70%, then 1 to 1 can also Second, if you are based on the daily level to Operation, that is to say, the operation of the medium and long term, then it involves a trend continues in the case of adding positions, the essence of this time is: lose on the loss of small positions of small stop loss, but once the direction is right, earn large positions of large profits so you can think about it, earn when the position is greater than the loss, if coupled with the magnitude of the time to earn more than the time to lose, profit is not inevitable? Do the above, the first point of benefit will naturally do a quick stop loss, because you know that you can not take a chance, so that the account suffered a large loss, while if you do not stop, then it is likely to lose a lot of money; the second point is to overcome the problem of adding positions at a loss, look at the history of speculation of those huge losses, are because of small losses do not go, but to add positions against the trend, amortization of losses resulting in 7, trading The "four rates": win rate, odds, bankruptcy rate, discipline I do not have their own things, all things come from the guidance of Chinese and foreign practice predecessors, so you see things here you will have a sense of déjà vu, I just will be what I have learned, practice after the experience here to hang a leak back to everyone the so-called true transmission of a word False transmission of ten thousand books reading has a thin to thick, and then from thick to thin process, want to thin from thin to thin is close to a fantasy, which is also the reason why I said in the beginning, the transaction is no way to teach all these things in my look here you feel reasonable, very reasonable, greatly reasonable, but in your own body, it is not useful, or not useful, is not useful why, because you have not gone through deep thinking, after that from thin to thick, and then from thick to thin process there is a point that I have not seen others raised, in my opinion, trading only need to remember the four rates can be: win rate, odds, bankruptcy rate, the importance of discipline from front to back in order to strengthen to see with your understanding does not, if contradict, and you are not in the market to make money steadily, you should not ask yourself, your right? Trading book list (the following books are available for download in the home of foreign exchange ea www.eazhijia.com): "Principles of professional speculation" "the road to freedom in the financial kingdom" "how I made two million in the stock market" "a futures veterans experience" "gamblers creed" "stock do hand memoirs" "out of illusion, to maturity" "Taiwan scarlet dick on trading strategies" "Crowe on trading The "strategy" "futures market technical analysis" "financial geek" "new financial geek" "short term trading master" "a traders capital management system" "high win manipulation" "Adams theory" on paper to get to the end of the shallow, absolutely know this to do 8, plan your trading, trading your plan to talk about discipline, talk about discipline inevitably to talk about personal trading system trading system is what? In laymans terms, that is, you have to trade the various aspects of how the operation should be carefully considered and verified, and accordingly distilled out of the principles so the corresponding trading system first contains the principle of capital management, each entry is in accordance with what capital management principles to determine the position? This should be consistent, consistent after entry according to the principle of money management to determine the maximum loss, first of all, to determine a clear stop-loss level, note that the stop-loss level is not a range, but a definite point, to the point immediately out, do not harbor any expectations and fluke (this to do to have sufficient confidence in the entire trading system, the concept of earning big and losing small always in mind) with a stop-loss level, wrong in place Cut, right continue to hold, hold is the management of the position according to your judgment of the nature of the market, as well as the pre-plan for position management if the market is a range oscillation, then your plan should not have the corresponding take profit level? If the market is a trend, then you should follow the trend criteria to plan to add positions where to add positions? How to move the take profit point, the trend once the trend change signal how to exit? These should be reflected in the previous plan if your trading system is your own after thinking and verification to make, then for each link why to do so, there is a corresponding concept behind the support, you know the whole process, to where to do what things do not need to consider but, at this time will certainly be able to follow your principles to operate? Not quite, the early will still be from time to time out of the blue, to do something against the principle, but often soon realize that it is not right, timely correction system principles to help themselves against emotions, rational operation is extremely helpful, and before and after the operation consistent loss are expected, earn depends on whether the market is in line with your principles, that is to say, the sky (profit) how high we do not know, but the ground (loss) how thick We can control so, discipline to improve actually with whether you really form their own trading system closely related! After the system is perfected, discipline will appear accordingly! 9, after uncovering the bride turned out to be so ugly positive a concept! Does trading require prediction? A good deal must be predicted accurately? Trading needs a little prediction, just a little, trading to make money can simply do not have to predict, likewise, predict the right bull may not make money at all! Reality is so cruel, the bride after uncovering the cover turned out to be so ugly! As I said before, trading can be random entry, random direction, the final result is still money we need an idea, and then use the money to verify their ideas, prediction is only a small means to improve the winning percentage of the previous said "from thick to thin" this word, recently felt in the transaction of their own thin to their own doubts about whether they have lost What, to argue a thing, is also so dry a few words 10, if profit and survival contradict each other, choose to survive! Bankruptcy rate corresponds to the "survival" first this most important idea you want to make your risk in the market to reduce to one in ten years, one in twenty years, or even ...... the concept of bankruptcy rate is to ensure that you survive the harsh winter of the system, survival to the dawn, so that The bankruptcy rate risk table visually shows how the probability of bankruptcy risk is reduced from 100% to 0. As long as you respect the bankruptcy risk formula and make adjustments to the money management program, you can greatly improve the probability of survival trading way, survival first if profit and survival contradict each other, please choose survival, otherwise you cant live with your own sins you dont have to be a mathematician, nor do you have to do your own The most important thing is to understand the principle of trading, and this is the end of the topic, and then the next problem is mostly the law, art level 11, the nature of trading is the inverse of human nature 99% of traders in the process of learning to trade or engaged in trading, the most interested should be the art of trading - the specific operating techniques of the vast majority of The majority of traders die in the process of seeking the art of trading! Some of them are lucky enough to have the financial support or other conditions to advance to a higher level, and will seek the method of trading and the way of trading This article is my expression from high to low, first throwing the way of trading to everyone, the vast majority of people are very uncomfortable, because his thinking is still stuck in the level of the art of trading, sadly! Trading is essentially to go against the innate human nature, to succeed we have to do in the eyes of most people perverse things! Dont be afraid to be different from others, you dont have to be like a fund manager who needs to go with the flow to alleviate the pressure once the mistake nobody gives you pressure, you just need to be responsible for your own account! 12, the difference between trading and gambling is the capital management at present, there are only two principles of capital management, equivalence harness and anti-equivalence harness equivalence harness from the casino, is the loss doubled, as long as there is enough money, then as long as you win once, you can put all the previous losses! But this requires a large enough capital, astronomical, and the market is in a state of normality can only be in the transaction, especially small and medium-sized funds do not apply to large funds like long-term capital management companies should be using this method at the time, in the context of the financial crisis bankruptcy of the matter anti-equivalent harnessing strategy is to reduce the position of losses, profits to increase positions which is required to determine the maximum amount of losses per transaction according to the bankruptcy rate if the first loss If you have a loss, then according to the new amount of money to recalculate the position, if there is profit, but also according to the new amount of money to recalculate the position so basically is the loss of position, profit plus position mode this is not the most profitable mode, but for newcomers, as long as so to do, has been invincible another so-called dynamic position, not recommended! Trend quotes, pyramid to increase positions! So make money is two kinds, one is not to add positions to earn simple odds, 1/3 is the largest one is the trend market, add positions, this time the odds comparison can reach the horror of 1/50 above the quick stop loss, so that losses are always within control, put a long profit, let the profit run even to the moon, to dare to earn 13, practical chapter: how to choose a foreign exchange platform (here the Foreign Exchange Institute to give you a list of regular Foreign exchange platform /forex/) recently a small partner asked me, big money in what platform is safer, institutional funds usually operate in which platform? Today to share with you the five safest platforms: Switzerland three: Dukascopy, MIG, Swissquote (ACM) Switzerland has and only these three is a formal foreign exchange dealer why only three? This is also the reason for the strict regulatory requirements of Switzerland, because the Swiss foreign exchange dealers must obtain a banking qualification, the Swiss regulatory authorities have made clear rules for the United States: Intrust Securities capital security, transaction quality first-class UK: LMAX, the top veteran foreign exchange dealers, mainly for institutional clients, banks and fund companies and WestField, is also more than ten years old brand as for Whether to choose these platforms, I think you can according to the actual situation of individuals if too much trouble, the need for fast cash out, Internet banking access to the gold, FFX, Carlson, FX-Pro (UK) Kunlun International can also be considered 14, the foreign exchange market has no Holy Grail? I wrote at the beginning of the article to the concept of trading: survival first, big gains and small losses here I will refine the purpose of trading: to make money the core of trading: capital preservation trading methods: the implementation of the rules trading mentality: do not care about a city and a pool of gains and losses, but concerned about long-term results many people ask me trading methods, that is, how to enter, stop loss, take profit, leave the field and so on, everyone does have their own set of methods, I I am no exception my method in this market is not the most brilliant, but there is a common point: follow the trend, stop loss, increase positions, hold long or that: technology is the last stream, if you only stay on the technical level, you are not destined to make money this market there is no holy grail? There must be, but also certainly not the direction you are concerned about manipulation philosophy: 1, do manipulation, the most important thing is to recognize the situation they are in 2, humble to learn from the industrys best people, growth to rely on themselves, make money by partners 3, firmly believe that one day can sweep the world of traders, the first thing to consider is the next meal money 4, more than 3 years of manipulation did not take off, it is time to consider quitting 5, either Quit trading, or do another 20 years 6, you are alone in the lonely, and not alone in the lonely 7, opportunities and risks together, trading is a long run 8, light position is king, survival first foreign exchange academy tips: the rest of the article need to open a membership to continue reading Oh! Login now
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