As a novice trader we usually look for recommendations. Fellow trader and usually we think of seniors, who "looks" she always get the profit. I gave the quotes because to be honest we never know how a person's accounts because it's very personal. We usually just guessing and utterances, postingannya, and we conclude whether he included great trader or not.
In some brokerage facility to chat. You can chat with fellow traders. Even you can get together and have a chat together with fellow traders and Indonesia. Usually in these chats always there are traders who provide recommendations. Or accidental, although there are comments comments they can make you involuntarily tergiring on certain conditions. For example, they write "gj up" means that the GBP/JPY are rising. Your tergiring is not impossible to open a buy position, when in May the GBP/JPY trend being down, but right now it's just the'm doing
adjustment.
Often in your emotions get carried away by such comments. Especially if you feel that a comment is someone who You consider "credible"
If you got a particular recommendation, be it in the form of advice or just a comment, it should be accepted as a reference, and it is not accepted as an approach to total. You must test these tips first:
• Are the tips in accordance with your trading strategy. When following the advice of someone with a short-term vision, whereas you yourself bervisi the long run, the effect will be harmful.
• Is there a risk that is contained in the tip or solicitation. Each recommendation is usually only a solicitation to buy or sell. Whether unaccompanied more again if you ask how the recommended cut-loss level.
• And if you can manage those risks. Everyone has money management and risk, thus it could affect your suggestions that he would convey. If you do not have the ability to manage money and the same risk, there's a chance you'll get caught up in the loss.
I personally try not to listen to the whispers and others, especially the call-originating currency buying and mailing lists or chat. Usually there is a posting on the mailing list or chat is already possessed by certain interests. Moreover, you also do not know the origin of that person speaking or not. People who do not have positions tend to provoke for undoing the currency at cheap prices. As for people who have a certain currency, trying to assure that
the currency is worth a buy. There are indeed some people who selflessly give help or tips are beneficial (Bravo!). You have to be careful in the digest any information there. We have to sort out the jelly information which are useful and which are not.
Than you find recommendations and others, isn't it better to spend your time learning how to do the correct analysis, either fundamental or technical.
I also need to be noted, that sometimes we need to mentor, the teacher can provide instructions. Especially if you are a new player. We encourage you to seek out people who whisper is not the origin of the whispered. The trick is to You personally associate with that person. And there you can gain valuable experience.
Another problem faced by investors, nowadays is currently we are inundated by information. Not just a whisper and friends, but also email, internet, tv, radio. All present information about business and economics. Especially when there are crises, that information was further strong contributions. Activities find information can be an exhausting process and frustrating. Because, the vast amount of information that must be digested, while the time available was very limited. A rich source of information, start and newspapers, magazines, research results of large companies or brokers and other publications, including on the internet. All such information should be digested carefully so that it can be the right conclusion and make trading decisions. Noticed that too many have information more dangerous than not have any information at all.
In addition to a whisper and a friend, you will also need to be aware of the whispers and experts. You must have often read the analysis of currency movements in various media, both
Tv, radio, a website or a broker's recommendation that you use.
The nature of the mass media is trying to be neutral. When faced with the problem of a country's economic fundamentals, the mass media are trying to bring up the pros and cons of analysts. It is difficult to determine the attitude of investors.
The same thing happens also with the experts. Instinctively, the scholars will be careful in conveying his analysis. If his analysis misses, his credibility will fall. Therefore the analysis of the experts in the analysis of mass media is reduced. If there is a q & a with the audience, the recommendations given are standard recommendations only.
A positive analysis and the experts it is sometimes this analysis brings a new perspective to us. However the experts it is the people who are already experienced in their field. For that, okay you listen to the pundits to mempenluas your insight, but regarding recommendations, the better you think yourself, according to your condition.
A peeve is nearly all the same, analysts tend to membeo. Remember at a time when booming oil prices of 2007, nearly all analysts believe the oil price will be translucent
200 USD. Will the Dow Jones leapt to 15,000. Euro predicted will be increasingly mighty to 1.8 against the U.S. Dollar. But at a time when the crisis happens all the analysts predictions numbers decrease to compete to the lower levels. Why this could happen? Because all weapons analysts alike. They rely on data of the past to predict the future. But who knows the future? No, even analysts disagreed.
So don't use the analysis of the experts or professional anything as the only runway when opening positions in the forex.
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