I plan to quit forex! | Page 68 | Forex Factory

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  • #1,341
  • Mar 1, 2019 7:00pm Mar 1, 2019 7:00pm
Trading forex is just like hunting. You must know where is the best location to hunt. Choose your stand. Waiting the pig running in front of you. And you will know when you fire your gun. The correct timing to shoot. After shoot you must follow or chase that pig and collect it at the right time. Forex trading is just the same. Choose your spot. You know you will buy or sell. Waiting at smaller time frame for more precisision. Waiting the chart move in front of your eye. At the right time you will execute your trade. And then follow your trade. Running(waiting) till your profit satisfy and collect or close the transaction at your target.
  • #1,342
  • Mar 11, 2019 10:23am Mar 11, 2019 10:23am
Quoting jollypk
Better to have a proper trading plan ensuring how many pips are needed to be targeted for the entire week or month and then start hunting it.
Yes; and traders shouldn’t have any personal target on pips; they should set the pips target based on the market’s opportunities.
  • #1,343
  • Mar 11, 2019 11:31am Mar 11, 2019 11:31am
I think it is good to have a personal target, but it is not something that should be chased at all costs.
  • #1,344
  • Mar 27, 2019 10:21am Mar 27, 2019 10:21am
all i am looking to ghet into is the recocvery of ma money which i so dearly lost because i was too greedy, stupid and above all ignorant. soon as thats done ill burn this laptop and walk away
  • #1,345
  • Mar 27, 2019 10:40am Mar 27, 2019 10:40am
Often that approach leads to the loss of more money, sadly.
  • #1,346
  • Apr 1, 2019 5:47am Apr 1, 2019 5:47am
Quoting mlawson71
Often that approach leads to the loss of more money, sadly.
True; you may see, revenge trading one of the most common issue here! New traders want to recover their losses instantly; whatever trading point available or not.
  • #1,347
  • Apr 5, 2019 6:28am Apr 5, 2019 6:28am
actually there is no short cut way to earn profit from here , but new Forex traders always try to earn money by revenge trading above all when making some losses.
  • #1,348
  • Apr 5, 2019 8:00am Apr 5, 2019 8:00am
Quoting Adelhard
{quote} True; you may see, revenge trading one of the most common issue here! New traders want to recover their losses instantly; whatever trading point available or not.
Think that's a stage where many has to go through.
Personally, I think, as long as u are thinking like a gambler, you are prob losing that trade.
  • #1,349
  • Apr 5, 2019 8:00am Apr 5, 2019 8:00am
Quoting Adelhard
{quote} Yes; and traders shouldn’t have any personal target on pips; they should set the pips target based on the market’s opportunities.
Agree
  • #1,350
  • Apr 5, 2019 9:53am Apr 5, 2019 9:53am
Quoting Adelhard
{quote} Yes; and traders shouldn’t have any personal target on pips; they should set the pips target based on the market’s opportunities.
Correction. I think there should never be a target of pips for every trade. It all depends on the market movements.
  • #1,351
  • Apr 5, 2019 10:53am Apr 5, 2019 10:53am
Well, one has to place the take profit somewhere.
  • #1,352
  • Apr 10, 2019 3:52pm Apr 10, 2019 3:52pm
Hi, nice to hear you're ready to take that bold move in your trading career. Sometimes you need to take a break and recollect yourself so that you come back with a better strategy and more understanding of how forex works. Many professional traders quitted at some point, and some never intended to come back, but they came. Now they are doing really great exploits
  • #1,353
  • Apr 18, 2019 9:12pm Apr 18, 2019 9:12pm
It is his choice what we can do for it. He want to quit, go and good life for your new plans.
  • #1,354
  • Apr 19, 2019 11:03am Apr 19, 2019 11:03am
He hasn't been around in a while so it's possible he's found something that suits him better.
  • #1,355
  • Apr 19, 2019 11:05am Apr 19, 2019 11:05am
Quoting mlawson71
He hasn't been around in a while so it's possible he's found something that suits him better.
ya. probably.
  • #1,356
  • Edited Apr 24, 2019 1:42am Apr 23, 2019 2:33pm | Edited Apr 24, 2019 1:42am
*tired of the negativity*
  • #1,357
  • Apr 24, 2019 10:25am Apr 24, 2019 10:25am
Quoting mlawson71
I think it is good to have a personal target, but it is not something that should be chased at all costs.
<


Not one.

I put few targets, 15-30 pips and then reevaluate.
May add may exit, reverse

BUT CERTAIN PIPS 😂💰💰💰
Beware of robber banks (RB), bad advisors.
  • #1,358
  • Apr 24, 2019 11:50am Apr 24, 2019 11:50am
Quoting Not-KPMG
{quote}< Not one. I put few targets, 15-30 pips and then reevaluate. May add may exit, reverse BUT CERTAIN PIPS
I think yours is a much better approach than sticking to a target under any circumstances.
  • #1,359
  • Edited 3:48pm Apr 24, 2019 2:50pm | Edited 3:48pm
>
Quoting mlawson71
{quote} I think yours is a much better approach than sticking to a target under any circumstances.
Thanks.

Needless to say in crazy pairs like Aussie, UCad need more targets and bigger. 80 pips?

Then add on top with limited sells.

Like EU today.... Close most..... Reopen 1160-80. Target 1150-25



Repeat
Beware of robber banks (RB), bad advisors.
  • #1,360
  • Apr 24, 2019 6:11pm Apr 24, 2019 6:11pm
Quoting GQForex
Trading is like playing a musical instrument. Practice and you can never achieve perfection, but every time it turns out better than the last. Return to work and improve your knowledge of Forex. Without practice there will be profit. Take that
That's good advise mate.
For new bee I suggest. Learn from youtube about forex strategy. Especially about price action as the basic knowledge. After you think you master about price action. Then you could start trading forex. Open micro account for USD 50. And pick one pair. Suggest for now GBPUSD. Do not look other pair. Set up your SL 20 pips and trade with 0.25 make max entry 2 times for 1 day. Do not entry more than 2 x, If you can hold your USD 50 for 2 weeks. You can start to consider you are forex trader. If you lost after 1 week you can start again. If you lost USD 50 before 5 days then better quit forex.
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