Make more money trading on the financial markets

No matter if you are a beginner or an experienced trader, your desire to make more money from trading in the financial markets should not go away. As the film character Gordon Gekko said, "Greed is a good".

However, it is good to have a strategy for achieving this, rather than a chaotic desire for it. Here are some starting points that will surely help you on the way to achieving this goal:

1. Audit your trading record periodically.

Every professional trader spends time analyzing profitable and losing trades. It's good to do it over a certain period of time, such as a month, a quarter, a year, or all of the listed. It is imperative to assess what has led to the losses and what has brought you profits from your trading. It is very important here to record the principle mistakes and patterns, and finally to bring them into short, simple rules to be recorded in your trading book. So going through your trading rules before each session will bring you into the rhythm of limiting losses and maximizing profits.

2. Selection

While trading, you should not net losses and profits, or look for compensation for the EURUSD loss, for example, with GOLD profits. Here, after auditing, it is important to select the instruments that bring you regular and consistent profits, and exclude those that lead you to losses from the list of traded instruments. If, for example, you have lost $ 3000 from EURUSD within three months, and you have earned $ 5,000 from DAX trading, do you need to continue trading your favorite Forex pair? The question is rhetorical - if you want to make more money, you have to trade the financial assets you profit from and give up on those that reduce your total net result.

3. Education

The best traders are those who do not stop learning. Do not stop with the training because of a month or two that has brought you a decent return. The market is a treacherous environment that can easily create the illusion that you have mastered everything and you are about to keep on the good run forever. This is certainly not the case, due to the structure of the market and, in particular, that trading is zero sum. If you win, then someone loses. This, in turn, provokes one of the most fierce competitions and an attempt at supremacy, as it is about money. This in turn leads to ego and excessive self-confidence in winning sequences, which in no way should allow you to confuse and lead to a sudden landing and catastrophe.

Read more:

• The Amateur VS The Professional; The Difference is in The Mind
• A story of a trader: ‘Trading can take over your life – but only if you let it’
• How to Filter Good & Bad Price Action Entry Signals
• The smartest way to invest your first $1000
• Should S&P500 be afraid from Friday 13th what the statistics look like