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    Correct Trading Systems Prevent Traders from Wipeout!

    Abstract:Correct Trading Systems Prevent Traders from Wipeout!

      Making money is the target instead of tactic in transactions. Traders can only gain profits once they arm themselves with their own trading systems, such as conducting market entry or exit based on signals.

      Signals

      Explicit signals for entering and leaving the market must be decided. Trading principles, including prices, form breakouts and indexes, should be built. Their reliability should be verified at the end.

      Prediction and response

      The majority are only aware of predictions other than countermeasures, like predicting the growth of crude oil prices without plans prepared. Your plan is the key to coping with the increase you expected, signals for market entry or prices with unexpected trends.

      Adherence to original aspiration, regarding losses as a normal and profits as a goal

      Many traders pay too much attention to profits and losses. As a result, they are always stuck in losses, completely forgetting their plans and falling back to the beginning with wipeout ramming. Ordinary traders should find trading systems appropriate for themselves:

    •   Technical analysis or fundamental analysis can be based on when deciding the entry timing;

    •   Pyramid principles can be applied to the management of positions;

    •   Stop loss can be made with the help of percentage or important technical points;

    •   Leaving the market when gaining profits can be conducted according to target prices or SAR (Stop and Reserve) index.

      Strictly implement your trading system once it is formed. It can be continuously improved but should never be easily waived or altered!

      Download WikiFX to get lessons from experts who have traded forex for over 20 years. (bit.ly/wikifxIN)

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    • Hong Kong Dollar
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    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
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    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
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