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What helped you the most to be profitable?

  • #281
  • Mar 1, 2017 6:18am Mar 1, 2017 6:18am
Quoting SweetAnalyst
Learn and understand each situation and its market value. Never ending study and learning and also experience is the great teacher.
I agree. The old saying that you should learn something new every day applies very strongly to Forex trading as well, I think.
  • #282
  • Mar 1, 2017 4:20pm Mar 1, 2017 4:20pm
dropping technicals and focusing on fundamentals
  • #283
  • Mar 1, 2017 9:09pm Mar 1, 2017 9:09pm
in helping the trader to be profitable in forex trading business, it is necessary to have knowledge and experience further, because it is more in worry that a high risk that the profit will be difficult to obtain. always learn in facilities that have been provided by the broker such as in a demo account or demo contest is also to enhance the ability of trading demo expectations will be obtained easily
  • #284
  • Mar 2, 2017 11:33am Mar 2, 2017 11:33am
Years and years of trading.
It's only amount of time and experience.
  • #285
  • Mar 4, 2017 4:12am Mar 4, 2017 4:12am
Quoting Explorateur
Years and years of trading. It's only amount of time and experience.
I agree. The best way – maybe the only way – to get good at trading is hard work over a significant period of time. It’s not a skill that can be picked up overnight and people should be aware of that when they start.
  • #286
  • Mar 7, 2017 3:11am Mar 7, 2017 3:11am
At last but not least next to the practice and experience as mlawson71 and Explorateur said I would add is after some time with hard work u get to know the market and you stop giving a f*** what it might do. After I realized that my trading changed a lot.
  • #287
  • Mar 7, 2017 7:56am Mar 7, 2017 7:56am
Quoting mlawson71
{quote} I agree. The old saying that you should learn something new every day applies very strongly to Forex trading as well, I think.
Absolutely right, in my opinion the learning never ends and with each day we had new things to learn either in a good way or by making mistake at our own.
  • #288
  • Edited Mar 8, 2017 1:07am Mar 7, 2017 9:53pm | Edited Mar 8, 2017 1:07am
As a technical trader who trades using ea, i would say:
1. plan daily profit
2. look for suitable pairs, make sure its safe enough from any news intervention
4. trading only during specific time. example: opening of tokyo session ~ closing of london session
5. let it run to finish his job alone, i wont do my human intervention, it really pisses off my ea LOL
6. beware of breaking news with high impact to any of traded pairs, if it happens i would consider to suspend trading (end of daily trading #1)
7. wait until my ea reach its targeted daily profit (end of daily trading #2)
8. ea still running even after london session closed, i would stop it with current profit or if possible wait a little longer before NY session closed (end of daily trading #3)

why my ea run on specific time only?
- because it will crush my account with its stupidity for not being able to watch itself from many unexpected variables in real life, so here i am like a father watching a clever son with mental disorder
Greed is good, as long as patience and discipline walk together with it
  • #289
  • Mar 8, 2017 12:38am Mar 8, 2017 12:38am
in helping to be profitable in forex trading it primarily is to have maximum knowledge, and as a trader who wants to be successful in forex need to do the study at any time. without a good learning then there will be maximum in running trading well. With that we are always to try to take advantage of trading a demo account to learn the good and know the risks that right in minimizing
  • #290
  • Mar 8, 2017 6:10am Mar 8, 2017 6:10am
Quoting jollypk
{quote} Absolutely right, in my opinion the learning never ends and with each day we had new things to learn either in a good way or by making mistake at our own.
True. And I cannot emphasize enough how important it is to actually learn from one’s mistakes so as not to repeat them again and again, but rather avoid them in the future.
  • #291
  • Mar 13, 2017 10:49pm Mar 13, 2017 10:49pm
Quoting mlawson71
{quote} True. And I cannot emphasize enough how important it is to actually learn from ones mistakes so as not to repeat them again and again, but rather avoid them in the future.
see forex trading is a business that is full of calculations and accuracy, I think it would be difficult to achieve the maximum benefit if a trader can not control his own emotions. If the trader can not control its emotions, it would be very dangerous, and do in the way of evaluation in doing so mistakes can be learned back
  • #292
  • Mar 14, 2017 6:28am Mar 14, 2017 6:28am
I'd mention just two things that have contributed to my profitable trade. Number one is having discipline and money management. These two are very relevant to profitable trade. The second is Technical Analysis. This has taught traders to effect positions based on numbers, time & volume. This method requires traders to distance themselves from thoughtless gambling habits and also increase their possibility to becoming profitable.
  • #293
  • Mar 19, 2017 7:38am Mar 19, 2017 7:38am
Quoting JamesFx007
I'd mention just two things that have contributed to my profitable trade. Number one is having discipline and money management. These two are very relevant to profitable trade. The second is Technical Analysis. This has taught traders to effect positions based on numbers, time & volume. This method requires traders to distance themselves from thoughtless gambling habits and also increase their possibility to becoming profitable.
Very good points. I would add that it's good to have at least some passing understanding of fundamental analysis, so big events don't surprise you when you least expect it.
  • #294
  • Mar 19, 2017 8:33am Mar 19, 2017 8:33am
Quoting EcoTrader
dropping technicals and focusing on fundamentals
This............less is more......
  • #295
  • Mar 19, 2017 10:41am Mar 19, 2017 10:41am
Money management is the key element to my success and profitable trade. Money management is very much needed in the forex market because it is the most unstable markets to trade. Additionally, for any trader to make money in the forex market, he is required to have patience and also follow a well-defined strategy to be profitable.
  • #296
  • Mar 20, 2017 4:00am Mar 20, 2017 4:00am
in helping to allow them to trade either by having full functionality, with that I am always up for trying to execute trades with the study done as in the demo account or contest demo of broker instaforex in the stages of learning was good to get a success in forex trading
  • #297
  • Apr 5, 2017 11:20am Apr 5, 2017 11:20am
Quoting pemully
trading simulator ....fastened my learning curve...was able to test most systems in FF. in a matter of months instead of years and found some concepts that really work also helped me refine my entries and where to set sl
What trading simulator are you using?
Please kindly share info about it.

Thank you
This is not investment/trading advise. Will not hold accountable for loss
  • #298
  • Apr 5, 2017 11:20am Apr 5, 2017 11:20am
Quoting JamesFx007
Money management is the key element to my success and profitable trade. Money management is very much needed in the forex market because it is the most unstable markets to trade. Additionally, for any trader to make money in the forex market, he is required to have patience and also follow a well-defined strategy to be profitable.
Please define money management?
This is not investment/trading advise. Will not hold accountable for loss
  • #299
  • Apr 5, 2017 11:25am Apr 5, 2017 11:25am
For me being well informed with the fundamental really helped me to come up with a conclusion whether to take the trade or not.
However this has to have the technical analysis in the same page as the fundamental.
Using the technical indicator alone is like having a body without a soul, can not live. Same with relying on fundamental alone can't go well
This is not investment/trading advise. Will not hold accountable for loss
  • #300
  • Apr 5, 2017 11:52am Apr 5, 2017 11:52am
A strong mindset is most important I believe.
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