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Trade
Tips on Forex trading from seven the best of the best
Trading on the Forex markets is no easy task, and, according to various estimates, about 70-90% of the total number of traders lose more money than you earn. However, we present advice from some traders who can be able year by year to cope with the markets.
Jim Rogers – "Wait until the money will just lie on the corner, and then go back and pick them up."
Rogers made his name as a joint co-founder with George Soros of the Quantum Fund and made his capital to trade commodities. He believes in trading in the market decline.
George Soros – "to be a pig, requires courage."
Soros believes when You have confidence in the transaction, should be bold and bet more. He also said that "the way to achieve really big and long-term income is to exhaust yourself until You exceed 30 or 40 percent, and then, when You have confidence in your own abilities, earn 100 percent year over year."
Ed Seykota – "everybody gets from the market what you want".
Ed became one of the pioneers of computer trading and is a well known trader-trading system developer – in this area it is sort of a cult figure. Seykota also believes that the main factor that prevents people from making money in the markets is themselves.
Jesse Livermore, the "Not to swim against the tide".
One of the most famous traders of all time, immortalized in the book "reminiscences of a stock trader', during his career Jesse has earned and lost millions. He refrained from using the words bullish or bearish and preferred to follow the market direction, cutting losses as soon as possible before they could get out of control.
William Eckhardt –" ... professionals are going bankrupt, getting too little profit".
Eckhardt has been in business for over 40 years, so, in fairness, it is worth noting that he knows something about trading. “There is one General truth, which many are absolutely right: that cannot be broke by taking profits. Exactly what many traders do go broke. While Amateurs go broke, carrying the large losses, professionals go broke by getting small profit."
Meyer Rothschild – "Buy when on the streets of bloodshed".
German banker Rothschild made his fortune during the Napoleonic wars. Quoting him, you should buy when the "blood in the streets, panic and chaos." And he's always in a hurry to sell.
Bruce Kovner – "to be prepared for mistakes."
He was another famous trader who made money on shapeways in 2008 markets. Here is his quote from the Magic of the book Market:
“Michael Marcus has given me another lesson, which is very important to understand: you need to be prepared to regularly make mistakes; and there is nothing unnatural. Michael taught me about finding your best solutions, and in the case of error - search your next best solution, and if again error then search a third, better solution that will allow you to double Your money."
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| Category: Forex | Added by: (30.10.2017)
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| Views: 348
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