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the most important things in forex

  • #101
  • Apr 4, 2016 4:12am Apr 4, 2016 4:12am
I think forex is a very professional market where you commit one mistake and you are gone.. so I think we should set our simple goals, try to achieve them by following the rules and don't put our emotions involve in this business.
  • #102
  • Apr 4, 2016 7:30am Apr 4, 2016 7:30am
Quoting jollypk
I think forex is a very professional market where you commit one mistake and you are gone.. so I think we should set our simple goals, try to achieve them by following the rules and don't put our emotions involve in this business.
I wouldn't say that committing one mistake is usually enough to stop a person from trading - trading itself is a learning process, people tend to make plenty of mistakes when they begin doing it. The point is to have a contingency plan in case you do make a mistake, so that you can learn from it and continue trading afterwards.
  • #103
  • Apr 6, 2016 8:58pm Apr 6, 2016 8:58pm
Yes, the forex trading we must have a good plan that will allow us to trade with the maximum. Plan is an important thing in forex trading, with a good plan and executed with discipline then it will benefit us
  • #104
  • Feb 16, 2018 6:33am Feb 16, 2018 6:33am
Quoting gabanda
Yes, the forex trading we must have a good plan that will allow us to trade with the maximum. Plan is an important thing in forex trading, with a good plan and executed with discipline then it will benefit us
Yes, it’s very much important issue! No one can expect here good result without having a proper trading plan! Definitely, traders need to set their trading plan according to their strategy and trading performance! Don’t set your trading plan with an unrealistic expectation.
  • #105
  • May 21, 2018 5:21am May 21, 2018 5:21am
Quoting gabanda
Yes, the forex trading we must have a good plan that will allow us to trade with the maximum. Plan is an important thing in forex trading, with a good plan and executed with discipline then it will benefit us
Even though we always emphasis to acquire real knowledge and experience to lead a comfortable trading life but practically despite of good knowledge that’s not possible at all to lead a healthy trading life , if you don’t know how to manage discipline when trading , so besides acquiring good knowledge and experience it is more appropriate to emphasis on trading discipline.
  • #106
  • Jun 14, 2018 6:35am Jun 14, 2018 6:35am
maintaining trading discipline sometimes difficult despite of good knowledge , it completely depends on your trading knowledge. so make sure good knowledge and experience and make real trading discipline.
  • #107
  • Jun 16, 2018 8:01pm Jun 16, 2018 8:01pm
not only knowledge, you need experience to success in forex. I believe before you profit consistently u will face multiple huge loss even your account wipe out, and from that you will learn or just give up to forex
  • #108
  • Jun 16, 2018 10:23pm Jun 16, 2018 10:23pm
RE: The most important things in forex

STAY OUT OF FOREX FORUMS LIKE THIS ONE..... Yes, I shouted it.... You will learn nothing.... You will learn Myths... You will get bad advice and systems that don't work for real..

To learn, sit in front of say the EUR/USD chart and watch what it does.. Why is it doing it.

You will only learn bad things here.. It's why retail traders never win.

Get a demo account with the EXACT money you are willing to trade as it was a real account. Treat it like a real account.. But remember real accounts are different to demo accounts. That's why a lot of retail traders go wrong from going from demo to real.

I could go on but it's gone 4am ;-)
The most violent element in society is IGNORANCE
  • #109
  • Jun 17, 2018 12:43am Jun 17, 2018 12:43am
Be focused and disciplined. Know and understand what you want from the market, and when and how to achieve it.

KP
Do your homework, follow the footprints of smart money
  • #110
  • Jun 18, 2018 5:29am Jun 18, 2018 5:29am
Quoting lordadry
not only knowledge, you need experience to success in forex. I believe before you profit consistently u will face multiple huge loss even your account wipe out, and from that you will learn or just give up to forex
yes , only knowledge cannot bring good result in here. we have to prepare when making a losses.
  • #111
  • Jun 18, 2018 5:35am Jun 18, 2018 5:35am
There is a way to use the market manipulator's tactics aganst them.

Use a 1 min or 5 min chart strategy and go with the flow.
  • #112
  • Jun 18, 2018 7:06am Jun 18, 2018 7:06am
Quoting jmtini
There is a way to use the market manipulator's tactics aganst them. Use a 1 min or 5 min chart strategy and go with the flow.
yes , it can be.
  • #113
  • Jul 17, 2018 5:37am Jul 17, 2018 5:37am
There are many important things in Forex trading that we have to ensure if we want to lead a successful trading life , from all choosing a right broker is most important but it really difficult task , because there are almost thousands online retail broker in this market place and most of them are found to be scams. So should choose the broker in cool mind, because they can affects the result of our trading with certainly.
  • #114
  • Jul 24, 2018 3:49am Jul 24, 2018 3:49am
Quoting lordadry
not only knowledge, you need experience to success in forex. I believe before you profit consistently u will face multiple huge loss even your account wipe out, and from that you will learn or just give up to forex
absolutely right @lordadry. It's only real experience in forex that can teach you about it. Real experience on a live account. Your biggest lesson will be learnt when you fail and lose. Just be careful to analyze your trades and strategies and become a better trader.
  • #115
  • Jul 24, 2018 9:19am Jul 24, 2018 9:19am
Quoting Drew-pips1
{quote} absolutely right @lordadry. It's only real experience in forex that can teach you about it. Real experience on a live account. Your biggest lesson will be learnt when you fail and lose. Just be careful to analyze your trades and strategies and become a better trader.
I agree. That is why it takes so long to become profitable if one ever does - experience simply requires time.
  • #116
  • Jul 24, 2018 12:23pm Jul 24, 2018 12:23pm
The most important things in FX when studying for me personally are notably large amounts of persistence, persrverance, a dash of self determination alongside a scoop of self discipline.
  • #117
  • Jul 24, 2018 5:37pm Jul 24, 2018 5:37pm
For me the two most important things are:
-Be willing to pass on a trade and wait for a better entry. There is always another chance.
-Protect your capital. Close out partial positions / move stops as soon as possible to break even.
The second one takes work to dial in. You will get stopped out often. It's frustrating. When a trade does go your way, you've already peeled off what could have been more profit. But..... You're not losing money. In fact most times you are making a few bucks on what would have been a losing trade. Once your position is built and at break even, you are good to go....
  • #118
  • Jul 25, 2018 2:19am Jul 25, 2018 2:19am
1. Make sure if you have an Edge

2. Identify (and learn to debunk) B.S. [on trading forums (like F.F.), youtube, media, trading books]
'For the market to work, it needs people who think that they can beat it.'
  • #119
  • Jul 25, 2018 9:12am Jul 25, 2018 9:12am
Quoting AlastorFate
1. Make sure if you have an Edge 2. Identify (and learn to debunk) B.S. [on trading forums (like F.F.), youtube, media, trading books]
Yes, nowadays YouTube is a great medium to learn; almost maximum channels are till now on promotional purpose; but I see few channel are really providing such a good educational info’s on their channel.
  • #120
  • Jul 25, 2018 10:15am Jul 25, 2018 10:15am
Quoting ZikriIrfan
{quote} Yes, nowadays YouTube is a great medium to learn; almost maximum channels are till now on promotional purpose; but I see few channel are really providing such a good educational info’s on their channel.
I rarely watch youtube tutorials, to be honest, I can never fully focus on a video the way I can when I am reading a text.
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