Hi everyone, I'm Tien Trong 94 Co-Founder of CHN Pro Trading community In this video we will continue what we've learned from the previous lesson In this article, we will learn “the factors that determine success in Forex” To start the video, look at your screen here In this video, I want to talk about the factors that determine success in Forex In order for you to know what in Forex we need to determine success or failure To succeed, we first need to see what the definition of success is Maybe for new friends For those who have done long Each person will have their own definition of success Here I have given a few definitions Maybe income of 20 million a month, 200 million a month Sometimes it's just 2 million a month For a student, 2 million a month as a source of income is good enough That could be a successful definition Because in this market, each participant will have a specific goal Each person has their own definition There are people 2 million a month is Ok, earn extra income There are 5 – 6 million people who are Ok There are 20 million people a month is Ok because that is the main source of income But there are people they have done for a long time, they have experience They have the range, it must be 200 million for them to be successful It is up to each person to have different definitions Next Can create a good trading system, gain a lot of profits This can also be one of the definitions of success in this industry Because, there are professional traders They want to be able to have a good trading system The system is not only good, makes a profit but also has to make a lot of profit Because they like things that can bring them constant profits This is also a definition of their success Next, maybe a bot that automatically trades passive income for you A trading bot makes you do not need to do it, just occasionally see if it gains or losses When creating a Bot like this It will automate the process for you, it runs 24/24 Instead of limited manpower, the Bot will be able to run continuously You just leave it, it can not only keep a pair but it will keep dozens of pairs Even hundreds of pairs to trade You can do other things Go out to do other work, go to main job Go out, travel with family and friends That is the definition of Traders who want to create their own trading Bot When they accumulate enough experience, enough knowledge They may think “what if I put this into the Bot?” They created a Bot that responded properly to that case And when that case happened They will let the bot into the transaction Self-run trades, cut losses and take profits And the Bot will have an advantage over us humans like this We humans have feelings, Bots don't have feelings Bot only do it according to what we program If we program it at point A, enter the command If incident B happens, cut the command If C happens, take profit It would be exactly the same The advantage of Bot is extremely disciplined No matter how profitable or unprofitable it was, it still cut orders Stop loss – Take profit, just as programmed Bot will do But we are not like that When you enter into trading and make money like this There will be a drawback when you look at the chart a lot Psychology will be affected a lot, even if the mentality is hard to see how much the price will reduce the will Our willpower is limited Therefore, when looking at prices we will have to make a lot of decisions “Is this point in the order? Is this point taking a loss?” “Does this point maintain orders?”.
We have to make a lot of decisions That's what we humans often encounter When you have made many decisions, it is time for your mind to be tired and make the wrong decisions And the Bot, if you program it how it will do the same But the downside of the bot is that it is not flexible Normally it was just like that, but when it encountered a major incident The market goes unlike before At that time maybe you will suffer losses continuously Because the Bot only knows to enter the correct signal A and interrupt the command when there is signal B There are people who make bots very well I had a friend, he created a good Bot Profits are also steady, but he only shows, not shares He just shows that the Bot is profitable for trading like this.
I think that is very good Create a trading bot for yourself You can also think of this direction after having the knowledge and later you create a bot for yourself So to me, what is success? For me, success is owning a system that brings regular profits every month Maybe with others, the profit is a lot But for me, it doesn't need too much Just 5% – 10% only 20% is too good I only need 5% – 10% Most importantly, it is a system So it helps me to make the simplest decisions I don't need to think hard to calculate Just the right signals, the right signals that I into the command This is the advantage of the system When there are other strange signs, I will exit the command That is also an advantage of the system It generates regular monthly profits What matters is regularity As you can see The billionaires The traders make a lot of money Often they do not want to make money fast, make a lot of money They are important to its stability and long term If they keep accumulating, their assets will increase In the end, I don't want to spend too much time trading Because when you enter the transaction You will see lots of Traders hugging computer screens all day But I don't like that Because I see, in life there should be time to rest and do other things Despite making money, it still takes time to work.
I like that Therefore For me, it must be a stable system, profitable and not wasting too much time Because if it takes too much time and spends all day looking at the chart It will be very stressful and tiring.
You will be caught up in it You go out to eat, go out with friends and family, you also bring your iPad, laptop You always look at the chart, then the price goes up and down Whoever calls you will say “go away, I'm busy” That will not be okay with our relationships and our lives We shouldn't do that, to me I don't like that type Therefore, I want to have a system to ensure all of these factors It may be difficult, but it will be okay if you know how to create it You can create or use someone else's system yourself If you are good, you can create your own system and it fits your personality perfectly It fits every detail Based on your personality to build up That will have many advantages Maybe I have a system and I give it to you It is unlikely that you have traded profitable because the system suits your personality But it may not suit your personality My personality is to place orders, take profit and take profit and go, but I don't sit on the watch I don't sit and watch prices go up and down little by little I placed an order and let it go to work That's what your personality is like, but not necessarily yours But your personality does not like that You like to watch profit and loss up and down Your character is different from you Therefore must choose how to match the personality So what is the solution for you? The solution for you is 4 success factors The first is psychology Psychology is the factor that makes us lose the most Here, I have lesson 32 video in this series I will show you how to be mentally stable The second is the experience, the experience you can watch this entire video Read on the Chnprotrading.
com web This is our website You can read it on this or other pages Third, the trading system You can own a system or create your own trading system If you want to own a system, you can search the web Go to school someone so you can own a system Or if you want to create your own system In lesson 36, I will show you how to create your own trading system Finally, the trading plan, this is an indispensable thing to succeed in Forex Lesson 33 I will say that And remember, these 4 cannot be set If you lack psychology, no matter how good your technical analysis, you will lose money New people, including my friends There are also people they command Loss, they “wait and see, the price will come back” And finally a complete loss That is the mentality When the profit is only a little bit they cut orders The words are few, the holes are many It is psychological if you do not control The second is experience Experience, you need to experience yourself But with these videos We have brought to you the experiences you have experienced so that you will not encounter Regarding the trading system, you need to find ways to create or own a system In order for it to optimize your emotions, you don't have to think much Enter the order well and make a more stable profit And finally the trading plan You must know what you do in the market You know what you need to do when a situation arises That way you can succeed Here I have finished the video today Video about what determines success in Forex trading If you find this video interesting and useful Like, Comment, let me know your opinion, Share videos to your friends As well as Subcribes your videos to receive the latest videos Thank you for watching this video Hello friends!.