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the most important things in forex

  • #141
  • Oct 12, 2018 8:57am Oct 12, 2018 8:57am
Quoting kaneutaka
For me, you must control your psychological situation when you lose. You have to be patient.
Patience, disciple, knowledge and experience are the four pillars of good trading, in my opinion.
  • #142
  • Dec 18, 2018 3:10am Dec 18, 2018 3:10am
in my opinion ,
in spite of having good trading knowledge that's not possible at all to ensure regular comfortable life without having a reliable support from credible broker , because broker can affects the result of our trading with certainly ,
so choosing a right broker is most important thing in Forex trading.
  • #143
  • Dec 18, 2018 9:43am Dec 18, 2018 9:43am
If you don't have a trustworthy broker, I think, you cannot profit at all, what's left for profiting regularly enough to live off the profits.
  • #144
  • Dec 19, 2018 3:24am Dec 19, 2018 3:24am
The OP is long gone, so I guess I am responding to anyone new that happens to read this.

Like anything else in life, if you have a plan, you have a chance of success. To me, the most important thing to do is devise a business plan. You need to know what pair(s) you will trade so you know when to be awake. You need to know the time frame you will trade so you can create a method of identifying its patterns. You need to know how to compute lot size and risk because you make more money from risk than from pips. Once you have determined what you will trade, then you can start learning how to trade it. Step by step. Without a focused plan, you are fluttering in the wind. If you change your mind during your analysis, then rewrite your plan. A written plan that you review daily or weekly will most likely help you succeed in your goal(s).

Once you have a direction, then you can work on your method. Journal your path and modify your method according to the numbers it provides; not your feelings. Entries are easier than exits, so begin by finding entries and demo trading from entry to entry. Over time, through experience, you can improve your method and develop an exit signal. Consistency should be your focus. That will require you to develop a measurement for consolidation. It is important to only be in the market when vertical movement is occurring.

Good Luck.
You cannot be extraordinary by being normal
  • #145
  • Dec 25, 2018 10:17am Dec 25, 2018 10:17am
Quoting mlawson71
If you don't have a trustworthy broker, I think, you cannot profit at all, what's left for profiting regularly enough to live off the profits.
That’s the reality; this is why we should spend enough sessions on this issue before investing our own money! With a market maker broker, success is quite impossible.
  • #146
  • Dec 25, 2018 10:58am Dec 25, 2018 10:58am
One simple answer: Learn about supply and demand.

That is what the market consists of so why not put your time and effort into learning this? It is a rhetorical question and I hope this helps if you are still here OP.
  • #147
  • Dec 26, 2018 9:31am Dec 26, 2018 9:31am
Quoting ZikriIrfan
{quote} That’s the reality; this is why we should spend enough sessions on this issue before investing our own money! With a market maker broker, success is quite impossible.
Some brokers are straight up scammers, I was referring to those as well.
  • #148
  • Dec 27, 2018 5:57am Dec 27, 2018 5:57am
Quoting mlawson71
{quote} Some brokers are straight up scammers, I was referring to those as well.
Yes mate, they are! I have also marked this issue!
  • #149
  • Dec 27, 2018 9:57am Dec 27, 2018 9:57am
Quoting ZikriIrfan
{quote} Yes mate, they are! I have also marked this issue!
A lot of traders have, I think. Have you ever been scammed by a broker? I have.
  • #150
  • Dec 28, 2018 6:21am Dec 28, 2018 6:21am
Quoting mlawson71
{quote} A lot of traders have, I think. Have you ever been scammed by a broker? I have.
I have bad experience on deposit bonus; but not on my own capital! Because, I was very serious before investing my real capital.
  • #151
  • Dec 28, 2018 10:59am Dec 28, 2018 10:59am
Quoting ZikriIrfan
{quote} I have bad experience on deposit bonus; but not on my own capital! Because, I was very serious before investing my real capital.
I have few experiences with deposit bonus which quickly convinced me it wasn't worth the hassle.
  • #152
  • Jan 17, 2019 2:06am Jan 17, 2019 2:06am
using deposit bonus is not a big deal , the real deal when it is time to withdrawal, most of the time bonus profit cant be withdrawal due to having so many restrictions.
  • #153
  • Jan 17, 2019 3:09am Jan 17, 2019 3:09am
yes agree i have seen same problem most of the time.
  • #154
  • Feb 7, 2019 1:23am Feb 7, 2019 1:23am
so, when choosing a broker be careful , don't choose a broker in an emotional state , because the broker can affects the result of our trading with certainly. before choosing move on all review sites to see the broker performance.
  • #155
  • Feb 7, 2019 2:34am Feb 7, 2019 2:34am
i have seen according to my trading experience, so many trading platforms don't allow scalping in their surroundings , so scalpers always fall a great trouble when choosing a broker.
  • #156
  • Feb 19, 2019 5:18am Feb 19, 2019 5:18am
Quoting Cobra
{quote} Study price movement as much as you can. Place one MVA on a 5min ,15.1H,4H and a daily When price moves take note where it is on all the above timescales and in relation to your MVA Draw Support and resistence lines on all timeframes When price reaches these lines notice how it reacts Develop a trading plan and stick to it Do not listen to news forecasts and where the markets may , should or could go ( DO NOT READ FX NEWS FORECASTS. IT creates a bias in your mind and WILL distract you from your trading plan) Trade price as per your charts...
Good points here to note. I just want to emphasize on two. Ensure you have a trading plan and stick to it. Practise trading discipline, as this will greatly help you in sticking to your trading plan for a successful venture in the Forex market. Without discipline, even with the best strategy.you'll still lose.
  • #157
  • Feb 19, 2019 11:00pm Feb 19, 2019 11:00pm
Quoting 7Shun
{quote} Good points here to note. I just want to emphasize on two. Ensure you have a trading plan and stick to it. Practise trading discipline, as this will greatly help you in sticking to your trading plan for a successful venture in the Forex market. Without discipline, even with the best strategy.you'll still lose.
Absolutely; discipline is one of the most important parameter here; even you can’t make a consistent result without having this quality.
  • #158
  • Feb 28, 2019 4:04am Feb 28, 2019 4:04am
discipline is most important , admit it , but maintain real trading discipline is a tough game , according to me, discipline is a matter of practice , anyone can ensure discipline for sometimes, its not a big deal, the main challenge is to keep consistence, keep practice your discipline and be successful at any section.
  • #159
  • Feb 28, 2019 12:10pm Feb 28, 2019 12:10pm
Discipline, yes, but also dedication, patience, willingness to learn. I wouldn't say any of these is more important than the rest.
  • #160
  • Feb 28, 2019 12:48pm Feb 28, 2019 12:48pm
1- Levels
2- Recognizing what price is doing in relation to them.
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