How to be a Happy Forex Trader

How to be a Happy Forex Trader: This is one thing most Forex Traders lack-Happiness in trading. Many keep running from one pillar to another in search of happiness in trading. The following are the ways to become a Happy Trader: MONEY MANAGEMENT: Never expose more than 20% of your accounts equity in trading. Maintaining 10% per trade will be a great help particularly during highly volatile moments. SPECIFIC ENTRY AND EXIT RULES: This is one thing most traders ignore a lot particularly when one trade goes contrary to their expectations. Throwing caution to the wind can be very damaging to both one's account and health. You need to have a decent trading system that points to you the very specific Entry and Exit Rules to follow before accepting any trade as high probability trade. CHOOSE YOUR BEST CURRENCY PAIRS AND INDICATORS WISELY: Your trading system should give you clear selection criteria for both good currency pairs and best indicators for determining trend, confirmation and identifying overbought and oversold markets. HIGH TURNOVER: Becoming a trader of significance in the forex market is not in making a kill in one single trade or trading day, week, or month. Many Traders don't understand this! With small profits compounded over one month to 12months, you can only imagine how rich you would have become over time. The power of compounding is very great and that is what favours top professional traders. Remember there is no magic in Forex market! Just a measure of predictability and ability to stick to the rules.