🧿How to be a Trader, not a Gambler⛔Hi.
✅Using technical analysis and fundamental analysis at the same time:
By combining technical and fundamental analysis, you pay attention not only to the patterns and behavior of price action traders in the past, but also to the fundamental and economic factors that act as the driving engine of market movements (macroeconomics). Together, these two approaches provide greater ability to understand market fluctuations and also create a harmonious relationship between charts and economic factors active in the market, allowing you to determine more effective entry and exit points and make your decisions using Take a more comprehensive and principled view.
✅Mastery of a strategy
A strategy for a trader is like a guide to a lost traveler. A trading style helps you stay on track and achieve your long-term goals.
With the strategy in sensitive market conditions, you will not get confused and incur irreparable losses. You also analyze your transactions more accurately.
There are different strategies in forex, but it is better to have a strategy that you completely trust and that is very efficient and profitable.
✅Accuracy of transactions with risk to reward greater than 1 :
A gambler doesn't care when it's the right time to enter a trade. Sometimes the markets do not have the conditions to enter into the transaction and they do not give you a good reward for the risk. Once you have analyzed the market as a professional trader and your entry triggers are activated, you actually have to wait until you can implement the rules of capital management.
In these cases, you should watch until the market gives you a risk to reward of 1 to 2 or 3 and the entry is allowed.
✅Capital management
As a trader, it is necessary for you to have risk management in trading to preserve your capital. Not using capital management may empty your entire financial account. Gamblers do not care about capital management and they may invest their entire assets in one trade. Therefore, it is better to determine the amount of your loss in each trade and exit when the trade does not go according to your expectations. Of course, loss is an inseparable part of the trading system; If the loss is small, a lesson will be learned from it and it will be helpful in the future.
🔔In the end, regardless of the above, like a gambler, your percentage of success versus loss is 50-50 in each trade, but if you follow the above, you can increase your win-to-loss percentage.
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