LEARN the legendary traders!

What separates the best traders of the world from the average investor?

Can the average investor to examine the success stories of the legendary traders and they use the system?

What is common in the actions of the most famous traders, than can take an average talented trader?

Before you will find answers to these questions, let's look at some of the most successful of the legendary traders:

- Nicolas Darvas turned 36.000 $ 2.000.000 $ in 18 months!

- Ed Seikota of $ 5.000 received $ 15.000.000 12 years!

- Jesse Livermore made a multimillion state in early 1900

- Richard Dennis made from 100 up to $ 200 million

- George Soros, is believed to be one of the greatest traders of all time!

The results are quite impressive and this list would be easy to add some other prominent traders. So why do they have such brilliant results?

There are several common factors that are observed in the majority of successful traders:

- They have a system, which they strictly follow.

- Most of them has a trading style of following the trend.

- Most of them have medium-and long-term approach.

- They are neither fear nor greed.

- They have absolute discipline and a 100% follow their system.

- Their Trade is fully laid out, they were prepared for all scenarios in advance.

- They know that the system goes through bad times and good times. They cut losses as soon as possible and give the profits to grow.

- Their system suits their individuality.

Some of these points sound logical and, most likely, many of them agree. But in reality the average investor behaves differently. Some of them have "burned their fingers" over the past three years, and some even lost the state. Here are some examples of observed behaviors:

- On time is not reduced by losses.

- Short-term investments perederzhivayutsya in the hope of lifting prices.

- People are listening to advice from their investment brokers and analysts.

- People invest in hot stocks recommended by friends of friends.

- People do not have any plan about their investments.

- Capital management in any way is not considered.

- People use trading styles that do not match their personality.

- They are filled with greed and fear.

What can the average investor learn from a talented above and how to avoid these mistakes? Here are some useful points that can be gleaned from some of the most successful traders:

- Every investor has his own personality. Some investors have a very aggressive trading style and trade very often. Some prefer the action, because other bear more risk and investing in options. Others want to spend a minimum of effort.

Investors must understand their profile and choose the style that fits his personality.

- Trade should be fully planned in advance. People planning to many of their actions, such as leave travel, relocation, etc. But whether they have a plan when investing?

The investor must have a system that will help him be prepared for all scenarios of trade. You need to know in advance when to buy, how much to buy, when to exit. As is trading, the price of the instrument (share, option, currency, etc.) can not be influenced by normal private investor.

- The most important component of the trading system is money management? Surprised? Many investors and traders spend most of their time developing a very complex system of entry into the trade. But the entry strategy contributes only about 15% in the success of trading system based on academic studies.

The most important issue trading system - is how much to invest and how many positions to keep any one time.

- For a successful trade is the ratio "can do." 99% of the world's population is likely to have a dream to be financially independent, but only 5% achieved this. Why? Because with phrases like "... it would be cool, but I can not ..." or "... perhaps one day I win the lottery, but so far I have to work hard ..." they have already lost.

Tom Meier

Alexander Elder

The secrets of successful trading: Alexander Elder

Alexander Elder - a professional speculator and expert on technical analysis. He was born in Leningrad and grew up in Estonia, where he graduated from medical faculty of Tartu University. Then he emigrated to the United States. After internships at clinics in New York, he enrolled in New York psychoanalytic institute. Then he opened a private clinic. At the same time Alexander Elder began working in the stock market, and organized a company «Financial Trading», which became one of the leading U.S. firms for the preparation of traders. With its findings and advice Alexander Elder is divided in the book "How to play and win at the stock exchange.

Look for a broker, who takes the lowest fees, and hold him at gunpoint. Develop a system of play that focuses on relatively infrequent transactions, and open them in periods of exchange lull.

Gambling should be by clearly defined methodology. During the game should analyze their emotions while watching the adoption of reasonable choices.

Adopt your blog speculation, stating the reasons for opening and closing transactions. Especially watch for situations where your tactics are repeated. Did not heed the lessons of the past are doomed to fail him.

Do not change the plan when you have an open position.

To be successful economically handle money. A good stockbroker watches his capital, as an experienced diver for the air pressure in your tank is.

"Do not risk all the money" - the first commandment trader.

Professional allows you to take a risk only a small percentage of capital on each trade. Amateur same approach to the game, like an alcoholic to drink: smack one's lips, and ends up in a ditch.

If you are unsure whether to remain in the transaction, clear profit and look at the situation with fresh eyes, from the side. When you do not risk your money, think more clearly. Exit the transaction and re-enter is not harmful.

Imagine a lawyer who in the midst of the process begins podchityvat his honorarium. This - as stockbroker, who, scenting profit, losing his head with joy. Imagine a surgeon, who at the sight of blood dizzy. It's like a jobber, losing confidence in yourself, when bears the losses.

This professional unruffled - and win, and losers.

Success in the stock market game can be achieved only doing it as a serious matter. Stock Market Game, based on emotions, is doomed to failure.

The main feature of gambling - the urge to place bets. If you see that spekuliruete far too much, take a break in the game for a month. During this time you can look at their actions differently.

Between an alcoholic and a losing traders have a clear resemblance. Stockbroker endlessly changing tactics, like an alcoholic who tries to solve the problem by going to the liquor to wine or beer. The loser does not accept that he had lost control over the course of its stock of life.

First of all, you need to understand their tendency to self-harm. We must be responsible for all consequences of his conduct, including failure, and not complain about bad luck and blame others.

Stockbroker's inspiration from winning, he feels omnipotent. To believe in their infallibility, he acts rashly and lose won. Most traders can not stand the painful heavy losses. Having rolled to the bottom of the abyss, they are doomed to fly with the exchange. Only a few understand that lost not because they played wrong, but because they wrongly thought. Such people can change themselves and go into successful stockbrokers.

Members of the crowd can catch the correct trend, but not her turn. Joining a group, the person behaves like a child following the parents. Successful stockbrokers live with your mind.

In the afterword to the book, Alexander Elder writes that speculators are often afraid to "pull the trigger", that is to begin to buy or sell. This fear - the main problem for the trader. If you have everything you need - the system of the game, the rules of capital controls, the psychological rules prevent loss, it means it's time to play the market, concludes Alexander Elder.