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Effective Trading Tips from George Soros, a Legendary Trader

by Didimax Team

Understanding the effective trading tips is a way to make you get more profits than before. There are so many ways to get that, one of them is from a legendary trader you may see. 

George Soros is an example. This legendary trader has been so successful during his career. If you have been in this industry for so long, his name is maybe quite familiar. Is that right? 

He got a lot of achievements so far. One of them is when he was successful to get $1.2 billion profit which is known as Black Wednesday. This memorable achievement was happened in 1992.

There are a lot of stories behind him actually. Fortunately, he was so kind to share some of his effective trading tips for all traders in the world. 

 

Take a Note of Everything 

George Soros always says that taking a note is always important. It is especially to write all the things relayed to trading. The examples are about the lot value, transaction times, and so on. 

You may use a book to do that. However, in this technology era, traders are serving with easiness. If you like something which is more digital, the account history feature is available.

However, George Said that you should need to write many other aspects such as why you choose a position, when you don’t trade, and make a rational reason too for every action you made. 

These effective trading tips will help someone to be more discipline than before. Besides that, you may use it as a reference to make a trading plan in the future. 

Know Your Mistake

When making a trading note, don’t only write about your profit and win. It is better to wrote your loss as well. It is related to the mistakes you have done during this activity.

An approach taken by Soros is acknowledging, accepting, and fixing any mistakes done before. You should realize that there is not any perfect analysis or prediction. 

That is why; learning from a mistake will be beneficial. In fact, it is not only your mistakes, but also the others. Make it as a valuable thing to learn for making yourself better. 

Effective Trading Tips: Between Greediness and Fear 

Greedy and fear. Those are the examples of negative emotions which always come together with a trader. It is especially for the beginner, but how George Soros thought about that? 

He said that all people have the greedy side on them. It is normal as long as people are still able to control that and it doesn’t make them to take the stupid decisions in the future. 

Vice versa, fear will make you hard to develop. Soros said that traders must be brave to step up and take the calculated risks ahead. One more thing is that don’t let euphoria covers you. 

It is harmful, especially when the price is fluctuating. Stay discipline is the key where you must always follow the plan made before. However, don’t forget to adjust it with your risk tolerance. 

Join with the Best Forex Broker Only

It is actually really crucial because broker plays an important role in trading. Make a research before joining one and make sure it is legal. Are there any recommendations for it? 

Didimax forex broker is a smart option. It is legal since under a regulation of BAPPEBTI. Besides that, it also has the direct market access system and offers various platforms. 

Didimax is perfect for beginners or professionals since they offer the low spread with a competitive price. Want more? You will love the fast speed with only millisecond access. 

Didimax is just amazing and you can join for free from their website. Get ready to have a fun and profitable trading with Didimax and practice the effective trading tips above.

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