NORTH PORT, Fla., April 8, 2014 /PRNewswire/ --Forex Peace Army CEO Dmitri Chavkerov shares with traders important strategies and techniques that would help traders attain success in the highly volatile forex trading field. Dmitri Chavkerov is a successful forex trader who founded Forex Peace Army, one of the biggest and most reliable forex websites in the world.
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"Most houses have foundation, walls, floor, and roof. My successful forex trading structure also has foundation, walls, floor, and roof. The walls and floor of my forex structure are money management and trading psychology. The roof is various trading strategies. I will be sharing with you most of the successful trading strategies that I know," says Forex Peace Army Chief Dmitri Chavkerov.
Dmitri Chavkerov advises traders to go with reliable and basic factors like support and resistance price points in the volatile market.
"Support and resistance price points are by far the most reliable and most fundamental factors that one can use to profit in any speculative market. Even when trading the news, these points are crucially important. These support and resistance points have nothing to do with any technical indicator, but they are enough to make a fortune on the individual stocks. In fact, the less focused a person becomes on these points by being more focused on some technical indicators, the less successful he will become, because he is cluttering his perspective with less important things," says Forex Peace Army CEO Dmitri Chavkerov.
Forex Peace Army Dmitri Chavkerov also shares some of the techniques and strategies for effective money management.
According to Dmitri Chavkerov, it is necessary to have a specific monetary goal that provides traders a direction in trading. Without a proper monetary goal on hand, there will not be any progress in the trading activity. Also, it is important that making or losing money on each trade should be looked upon as a boring activity rather than an interesting one. Some traders put in too much of hopes and fear any loss. When it looks boring then it would not cause them many issues. Yet another rule is to have cash-out goals that would help traders make proper plan as to how to deal with the money at hand and the money that is to be earned in the future.
"Some of you may have read a famous bestselling book, called "Rich Dad, Poor Dad" by Robert Kiyosaki. Keith Cunningham was Kiyosaki's mentor, and many ideas that Kiyosaki shared in his book came from Keith. while talking to Keith, I learned a very important money principle that I never heard before from anybody else. Keith told me this: "The process of money making should be very boring. The more boring it is, the more successful you will become." He said: "Most people are looking for excitement in their money making ventures. Excitement is good, but it should be looked for in other areas of your life. If you look for excitement in making money, you will most likely get into a lot of trouble, and your path to accumulating and keeping wealth will be very difficult," says Forex Peace Army CEO Dmitri Chavkerov.
Dmitri Chavkerov also shares that it is necessary for traders to set aside a portion of their money for charity. He believes that human body is programmed to give regularly and unconditionally and if this is not followed, it may amount to living against your own belief and the subconscious mind will be affected.
"The most important thing that I can teach you is the foundation of my forex trading structure, which is giving of at least 10% to charity," says Dmitri Chavkerov of Forex Peace Army.
"Most businesses are built around serving people, so if you serve your customers well, you may still prosper even without tithing, but remember that in forex trading, you serve nobody, and unless you make an opening of at least 10% in your trading account that will benefit a charity, your success will be extremely difficult to achieve, because as a rule, great financial abundance is a result of great service to large number of people. If you do not give 10%, you may still succeed in forex at the expense of great loss of time and energy, but this great loss of time and energy may take away great chunks from your health and from your relationships, and thus your happiness," says Forex Peace Army President Dmitri Chavkerov.
Forex Peace Army is a well known online platform that provides useful and reliable information on forex trading space. Forex Peace Army has been active for the past 8 years now.
SOURCE Forex Peace Army
