Keep learning as knowledge is the most powerful tool in the forex trading, don't have unrealistic expectations, make a good trading plan and stick with that, manage your risk properly and stay cool.
Keep learning as knowledge is the most powerful tool in the forex trading, don't have unrealistic expectations, make a good trading plan and stick with that, manage your risk properly and stay cool.
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I couldn't have put it better. That is the gist of it, the problem is actually sticking to that plan, which is not as easy in practice as it may sound in theory.
Keep learning as knowledge is the most powerful tool in the forex trading, don't have unrealistic expectations, make a good trading plan and stick with that, manage your risk properly and stay cool.
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a good trading strategy of course needed first of all , but consistence from same strategy is not possible at all , so always try to develop your trading approach.
People do trade with strategies they've learned from others, it's what forums like Forexfactory are for, among other great things.
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Yes, this is one of the most active Forex community & I see, a number of new traders start their learning process with the FF; that’s the value of ForexFactory.
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Joined Apr 2018
|459 Posts
the most important thing in Forex to keep survive consistency , its a big challenge , generally after having some loses it is difficult to maintain emotions but if we can keep control emotion, any trouble we can face with patience.
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Joined Apr 2018
|459 Posts
loss is a common issue that we traders no way to avoid despite of having good knowledge and experience , so take it easily , just keep remember , don't do same mistake again again , otherwise there is no chance to reduce loss at all.
Ran into a little predicament during NFP this morning... had a textbook straddle set up on EUR/USD, buy/sell stop orders within 5 pips of the current price at 8:29 AM (~1.1225.) As you probably recall, the price immediately moved upwards with absolutely no downward test (perfect straddle conditions) to hover around ~1.1240. The only problem was that the buy order I had placed at 1.1230 did not trigger. I watched as the price fluctuated and eventually corrected downwards upon which my buy stop was triggered, forcing me to wait out the correction and the ensuing uptrend in order to realize profits. Would this be a slippage issue or something more? *Disclaimer* I am 100% absolutely positive that I had placed stop orders and NOT limit orders. This was the first thing I clarified after confusion set in from seeing the price move roughly 10 pips above my buy order without triggering it. I don’t even think MetaTrader would fundamentally allow you to place a buy limit above the current price, or a stop limit below the current price (respectively.) Thankfully this happened in a demo account, as I am still testing news release capitalization strategies. Would just like to know if anyone else has experienced this issue, and could offer some advice as to how to avoid it altogether. Cheers!
loss is a common issue that we traders no way to avoid despite of having good knowledge and experience , so take it easily , just keep remember , don't do same mistake again again , otherwise there is no chance to reduce loss at all.
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Maybe we can reduce the risk by doing proper home work and doing some own research.
I've been wondering and wondering all this time why there are systems out there that work for 3 months and then lose for 6 months, then work again for 2 months, etc. in such a cycle with all the systems I've ever tested. Is there really a system out there that can be consistent over the years?
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Joined Apr 2018
|459 Posts
it depends on your practice , every time market changes it attitude , so by using same knowledge it is much difficult to ensure profit consistency , we have to develop our trading practice if we want to bring profit for 1 year or moire.
