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Logical way to Trade Forex

  • #21
  • Edited 12:03pm May 19, 2017 10:05am | Edited 12:03pm
  •  hak444
  • | Joined Aug 2016 | Status: knowing is not enough,we must apply | 41 Posts
Quoting feline207
{quote} i think its impossible to become a good trader without losing. a trader must have felt and understood the pain of losing. Does Real Madrid always win.. no. but they are all millionaires.

I completely agree with your point. That is why i mentioned in my post that handling losses is an important skill for a trader to learn, so u don't panic when u r hit by a series of losses.
Btw m a supporter of Barcelona....so i hope Real Madrid lose the final la liga match
I can accept failure but i can't accept not trying. (Michael Jordan)
  • #22
  • May 20, 2017 2:03pm May 20, 2017 2:03pm
Quoting mades
{quote} While this is true, I doubt there are many traders even among the consistent successful ones who wouldn't be mentally damaged after taking 10 losses in a row. Because 10 losses in a row means most of the time something is wrong with your system and you're missing the edge. In numbers, if you have a system with 35% success rate (VERY low imo) your chance to have 10 losses in a row is still less than 50% (42.6%). So, be realistic.
If you've been trading long enough.. it's very likely that, a few times.. you're successful enough to make a 10 loss in a series. ) but anyway.. what I meant was about the position sizing.. not really about the number of losses in a series, if you are intelligent enough to understand...
  • #23
  • May 21, 2017 5:32pm May 21, 2017 5:32pm
Quoting vinforex7
{quote} If you've been trading long enough.. it's very likely that, a few times.. you're successful enough to make a 10 loss in a series. ) but anyway.. what I meant was about the position sizing.. not really about the number of losses in a series, if you are intelligent enough to understand...
Ten losses in a row is ten losses in a row (if you don't prematurely close the position or do any other stupid crap like not sticking to the plan).

That's an awful edge, doesn't matter if you scalp on 1M or swing on 1D. I doubt even professional traders could handle it and they would be kicked out of the floor if they had 10-in-a-row.
  • #24
  • May 21, 2017 7:39pm May 21, 2017 7:39pm
Quoting mades
{quote} Ten losses in a row is ten losses in a row (if you don't prematurely close the position or do any other stupid crap like not sticking to the plan). That's an awful edge, doesn't matter if you scalp on 1M or swing on 1D. I doubt even professional traders could handle it and they would be kicked out of the floor if they had 10-in-a-row.
ten losses in a row is not uncommon when your risk reward is high
  • #25
  • May 23, 2017 6:38am May 23, 2017 6:38am
Forex Trading is not at all an easy task, you need to learn a lot to become successful in Forex Trading. And for that you need to have lots and lots of practice to survive in Forex Trading.
  • #26
  • May 23, 2017 7:56am May 23, 2017 7:56am
Logical way to trade fx:
1. Get or obtain inside news from big players.
2. Go directional bias.
3. Buy low, exit high.
  • #27
  • Last Post: Edited 9:04am May 23, 2017 7:59am | Edited 9:04am
Quoting Jack168
Logical way to trade fx: 1. Get or obtain inside news from big players. 2. Go directional bias. 3. Buy low, exit high.
Genius

a friend of ours worked for an IT company, bought shares in it one day, now lives in a $6m 3 story apartment in the middle of the city which he can't sell cause it has no pool

New years eve we took a bottle of Janz around and they added it to the bucket full of 50 bottles of Moet

We watched the fireworks from his balcony and could see them litrally shooting from the thing on the water:

nice work if you can get it
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