For 2,500 years, mankind has been looking for the "Philosopher's Stone", that is, the formula for turning lead into gold. Therefore, the GKFX webinar on March 29, 2018 at 6 p.m. with Stefan Sillmann is entitled "The Trading Sessions: How do you convert lead into gold?". "Gold diggers" have had many options in the financial markets for decades. Numerous providers lure with trading strategies, chart techniques, stock market letters and many other offers and want to show investors how they can participate in the market and become rich.
But that There is no secret to sustainable success to buy. No newsletter or tool tells investors that the secret to lasting success can only be found in themselves. Stefan Sillmann gives in "The Trading Sessions: How to Convert Lead to Gold?" Many tips on how investors can discover their personal "Philosopher's Stone".
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Trading involves more than just a good strategy and helpful tools. Traders can find a lot of advice on behavior on the Internet and in specialist literature about behavior as traders, mindsets or trading plans that they should stick to. So they will encourage you to change your own behavior. In the hope of successful trades, other traders always work with new strategies or trade in new markets or with new indicators.
But all this good advice alone does not help any trader in search of the "Philosopher's Stone". Every trader has to start with himself and put these tips into practice. Successful trading therefore includes one thing above all: discipline. Traders must already be working on themselves and constantly developing. It is similar to getting up for jogging: you have to overcome the much-quoted "inner bastard".
Practice and experience
In addition to discipline, there are numerous other skills and abilities a lot of knowledge required. To learn this, practice and experience is required. Trading success doesn't come overnight. Therefore, traders also need a lot of patience. fixed rules and a strategy are definitely part of trading. However, in order to find a strategy that fits the personality of the trader, it is important to first ask yourself what you actually want to achieve with trading. Your own goals and personal motivation must be clear. Then you can set up a strategy that includes all the measures you want to use to achieve your goals. In addition, you should not blindly follow a given strategy, but fully understand the strategy itself.
Strategy suitable for your personality
However, there is no such thing as the best trading strategy. Every strategy comes with the personality, experience and knowledge of every trader. Depending on the level of knowledge, experience and traded markets, the strategy can also be very different. For traders, the willingness to deepen their trading knowledge and to be up to date is also very important. Only a package of many different factors takes a trader further in search of the "Philosopher's Stone" and on the way to lasting trading success.
Dealing with emotions
Traders should learn, among other things, to deal with their emotions. This includes fear, frustration, excitement but also joy. So traders should never rely solely on their feelings when entering into a trade. Even with the frustration after several losing trades, traders should learn to deal with the times and ideally analyze their mistakes and avoid them in the future. Traders develop very different strategies here. For example, it can help to re-evaluate the situation and the mistakes made after a break.
Developing your personality
Whoever starts trading, also learns a lot about itself over time and can develop its personality. Traders learn to use their strengths and work on their weaknesses. A trader learns a lot through practice and experience. In addition to working on your own personality, solid specialist knowledge is very important for traders. Beginners should first familiarize themselves extensively with trading and even advanced learners will always learn something new in the best case.
In the course of his trading career, every trader develops personally. Successful trading is a process in which traders learn more and more about it. Self reflection is also important. Many traders learn more about themselves by keeping a trading diary that they regularly evaluate. It contains all the important information and feelings about a trade. This enables them to recognize their strengths and weaknesses better and to identify which subject areas still lack knowledge.
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Trend Analysis Masterclass
Build up specialist knowledge
In trading include expertise, among other things, knowledge of trading strategies, chart formations, a basic understanding of economic contexts, knowledge of markets and knowledge of risk management. Beginners in particular, of course, cannot know everything yet, but traders should always be willing to expand and deepen their knowledge. Over time, you may notice which topics make it advisable to develop more in-depth knowledge. The training materials and webinars from brokers like GKFX are particularly helpful here.
Learning to understand the markets
In order to understand the markets, it has become increasingly important, to be informed about current news from business, politics and world affairs. A news report quickly affects the markets and causes prices to rise or fall. However, since there is a lot of news from around the world every day and we have access to numerous news websites via the Internet, traders have to learn to sort here. Over time, you will develop a sense of which reports are important and could lead to price changes. Traders have access to many sources, but should always make sure that they only select reputable and reliable sources and always on more than trust only one source.
GKFX - one of the best-known brokers
GKFX has developed into one of the best-known brokers on the German market. The company GKFX Financial Services Ltd. Founded in the UK in 2009 and based in London. There are also numerous other locations, including in Frankfurt am Main. The British FCA is responsible for regulating the broker, but GKFX also has a license from BaFin.
The broker primarily offers CFDs and currencies. Here traders can choose from more than 100 currency pairs. CFDs offer a wide range of underlyings such as stocks, indices and commodities. Traders at GKFX often choose to trade using the well-known MetaTrader 4 trading platform. MyFX can be used as an extension.
GKFX offers a maximum leverage of 1: 400, which varies depending on the underlying and account type. Therefore, the broker's margin is 0.25 percent. Even with small transaction sizes from 0.1 lot, traders could start trading. The spreads offered also vary depending on the trading account. A demo account can be used permanently. GKFX is also known for its many training materials, webinars and live trading sessions. Experienced traders share their knowledge with GKFX traders. Many webinars are specially designed for beginners and advanced users and are often devoted to current topics. There is always time to answer traders' questions.
Conclusion: trading as a self-study
Many tools, specialist books and trading strategies are offered on the market. But traders often only become successful if they work on themselves. Stefan Sillmann gives on March 29, 2018 in the GKFX webinar "The Trading Sessions: How do you convert lead into gold?" numerous tips on how traders can find the "Philosopher's Stone" themselves.
To be successful, every trader has to start with himself. The best trading strategies and tools are not enough here. Over time, traders learn so much about themselves and can work on their weaknesses and bring their strengths into trading. Every trader should already be willing to always learn and work on the further development of his personality. This includes numerous factors from dealing with emotions when trading to specialist knowledge.
This overall package, which may ultimately be the secret of success, also includes a lot of knowledge about financial instruments, markets and analysis methods. With regard to specialist knowledge, one should not only go into a broad spectrum, but also build up in-depth knowledge for certain topics. Traders do not receive this overnight, even if, for example, the GKFX webinars provide a lot of help here. Therefore, a lot of patience is part of trading success.
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