He entered a competition organized by some brokers, such as COBE and within three months to change the funds 100,000 to $ 900,000 and he claims to have never experienced loss during the competition.
7 basic rules of the Weinstein Trading is as follows:
- Extra study to know the basics and important details about the instrument you are trading.
- Most successful traders was a humble and not arrogant. If you are arrogant then you have the possibility to suffer losses because less alert in the risk management problem because it's too confident to beat the market.
- Understand your limitations and advantages as a trader. Knowing your weaknesses, be useful to minimize the risks in trading.
- Possess a good mindset and otherwise do not be afraid to put Stop Loss. Most of the traders are afraid to lose, and they have the mental make a coward, not a winner.
- Be patient and wait for ideal conditions to present themselves before entering the trading signals. Understanding when to enter and when to exit the market are both equally important, and this point is a logical point.
- Your trading strategy should be flexible and adaptable to market changes. A dynamic trading strategy needed to win because of changes in the market may continue to occur, so that your trading strategy should be flexible to keep up with it.
- After obtaining a profit, should not become complacent or arrogant. One of the most difficult part of trading is to keep the profit that has been achieved to avoid losing them. Most traders who have direct profit loss.
Patience
"I rarely lose, because I was waiting for the right" says Mark. Most people will not wait too long or can not wait for the right time to enter the market. They will walk into the forest when it was still dark, while I waited until daylight. Although the cheetah is the fastest animal in the world and can catch any animal jungle, he would wait until it was sure to catch their prey. Cheetah may be hiding in the bush for a week, waiting for the right moment. He may be waiting for a baby deer, and if it does not appear the baby deer, then he will wait for the other animals who are sick or disabled. Only later, when there is a chance the cheetah is no fear he will take that chance. That is the hallmark of a professional trader ".
Why Mark could have a significant advantage?
"I have a real fear of the market. I have found that good traders are the ones most afraid of the market. My fear of the marketplace has forced me to hone my time with careful consideration. When I was trading correctly, this is like swimmers who finished the match pool. "If I feel the state of the market is not good, I'm not going to trade".
Fortune in the market ...
"I do not believe there ever loss due to bad luck, there must be other reasons. Either you are wrong to predict a trend, or you have no experience. There is always a mistake involved."
The most important element to put in a trading position.
"I'm always looking for a loss of market momentum, and then, look for other markets or instruments. So for example you do not find a good moment to trading on GBPUSD, then maybe you can find a moment in the EURUSD.
Conclusion
The explanation above is a special counsel and the best for big traders, the emphasis on patience and wait for the right trading opportunity is something that should traders have. Mark is the core of the system to find the best opportunities and go in the right position. A trader must also be able to manage the funds and manage risk. Risk of loss should be calculated and measured properly.