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Following other's trade ideas
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UweMoench

Member Since Jul 19, 2020  115 posts UweMoench Sep 19 at 13:51
I do not think that it is a good idea to follow others trading idea. It makes us confused. And sometimes greedy also which is very bad for trading. The best idea is to find out what suits you. Which type of trading is best for you. Then make a strategy that suits with your trading personality. Forex is a long term business. So we can't stay long by following others.

Michihito

Member Since Jul 19, 2020  107 posts Michihito Sep 20 at 07:23
You are absolutely right. When I try to focus what others are saying about market. I loss my judgement. If their opinions is against mine, I can not stick to my own decision. As a result many times I lose money. Now I have stopped listening others.

Visser01

Member Since Aug 28, 2020  13 posts Visser01 Sep 21 at 07:16
Watching other's trades to get an idea of how things are done and for learning purposes, that is fine. But if one starts to rely only on other's trades and makes no use of his/her own ideas and concepts, then such trading is of no use. Sooner or later, such traders exit forex trading.

ethan_65

Member Since Feb 07, 2020  41 posts ethan_65 Sep 22 at 08:49
In my opinion, do not follow the trading ideas of other brokers just take a reference from them that how he trades, in which conditions, at what time frame, which trade size, leverage, etc. and try them on demo and then change it according to your strategy and idea and maybe you get good results it's like referring for a project from Wikipedia lol

ElliotCooke

Member Since Jul 20, 2020  156 posts ElliotCooke Sep 22 at 20:17
I think following others' ideas is not a good decision. Because every trader has some different tactics to win the trade. Others' tactics may not suit you and you can lose all your money.

AliaDare

Member Since Jul 19, 2020  117 posts AliaDare Sep 23 at 00:42
It is very important to believe in yourself in trading. When one rejects one's analysis and looks at the analysis of others, there is no satisfaction in trading. Greed can often lead to losses in trading. Greed destroys trading careers. So always trade from positive to believing in your analysis.

ele020

Member Since Apr 15, 2020  28 posts ele020 Sep 24 at 06:31
Blindly following trade ideas is of no use, but yes using them to analyse the trend can definitely help. as a beginner you can use them for learning but ultimately build you own strategies to check for trade ideas.

Voss_y

Member Since Sep 24, 2020  14 posts Voss_y Sep 25 at 08:10
UweMoench posted:
I do not think that it is a good idea to follow others trading idea. It makes us confused. And sometimes greedy also which is very bad for trading. The best idea is to find out what suits you. Which type of trading is best for you. Then make a strategy that suits with your trading personality. Forex is a long term business. So we can't stay long by following others.


I want to ask one question. tell me how do you find your trading idea without contacting other traders and try different trading ways?
i don't agree with you that we can't stay long by following others. market is always change. and you have to find othertrading ideas.
so why dont following others while that?

GeorgeBischof

Member Since Jul 19, 2020  155 posts GeorgeBischof Sep 25 at 19:02
I don't think it is a good idea. Because every trader doesn't have the same knowledge and experience in this market.

AliaDare

Member Since Jul 19, 2020  117 posts AliaDare Oct 08 at 00:09
It is very important to believe in your analysis in trading. Many traders can do good analysis but rely on the analysis of others due to a lack of confidence. The next observation was that his analysis was good. So it is very important to build confidence in your trading analysis.

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