Tips of the financial world’s legends and successful trade. Anton Ganzenko.

Many well-known world financiers share their secrets of success, giving advice in speeches, books and interviews. Deepening into the text of the book or speech, it is possible to highlight the author’s main idea. And this is the idea that will be discussed today. Let’s try to apply it and a successful trading in the Forex market will come along!

What are the key elements of a successful trade?

“Keep a personal ledger, like me. Write down your income, and do not hesitate to write down all expenses. This will allow you to accumulate funds, this is what you need to learn”

John Davison Rockefeller

John Rockefeller is the first official dollar billionaire in the history of mankind and his advice is to “appreciate every dollar and plan the budget wisely.” It sounds very simple and may even seem at first glance that this is a miser’s advice. To dispel this view, it should be said that John Rockefeller was a philanthropist who founded his charitable foundation and donated money for medical research and education.

This advice, probably, is easier to apply in trade than in real life. Since successful trade is impossible in principle without an ideally balanced budget and risks, this advice as a self-implying fact. But, this is not always the case.

The Rockefeller advice for traders can be rephrased as follows: “Keep a personal record of transactions (Statement). Analyze your profitable trades, and especially carefully analyze the losing trades. This will increase the deposit and will help to avoid mistakes, this is what you need to learn”

Do not neglect personal control in either personal finance or in trade, especially when it can cost you a fortune.

“… out of every ten coins you get from your wallet, you only have to spend nine.”

George C. Clayson

George C. Clayson is less known in economic circles, but his book “The richest man in Babylon” is very well known. The main idea of ​​George C. Clayson also suggests that you should save 10% of the income, and the remaining 90% dispose of exactly the same.

Regarding the trade, this advice can be applied differently. Applying to an increase in the deposit – accumulate a trade deposit on this principle. While increasing the trade deposit by 10% of the monthly income during a short period of time, one can save up a significant amount, which will bring fair dividends. Or use this approach to control the risks, where 10% of the deposit will be the maximum drawdown that can be risked.

These tips are simple and have a huge potential, which will make it possible to achieve success. All you need to do is get started! Successful trade is waiting for you!

Ganzenko Anton

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