If you are not able to make a consistency profit after many try, it is best to stop and take a break before you can trade again. Alternatively, it is quite useful to set the stop loss to minimize the losses if the trade is taking unexpected turn
Those who want to work in trading should understand that this type of work is rather dangerous, because the excitement here can sometimes be higher than other emotions.
Nov 21 2021 at 19:01
skihav posted:You need patience to achieve something from this market.
Those who want to work in trading should understand that this type of work is rather dangerous, because the excitement here can sometimes be higher than other emotions.
Nov 22 2021 at 11:20
When your greed is eating up everything. Best way to cope up with this this factor is apply TP to your trade and SL too. You are safer on both sides.
It's important to feel it. Otherwise, it can sometimes be very difficult for a trader if he makes the wrong decisions.
Trading with greed can lead you to lose money and leave you broke. You will be praying that the market just goes back to where it was before so you can make your money back. But it never does. So always take your decisions wisely and stop trading when you feel it is not right for you anymore.
Nov 25 2021 at 08:04
Becoming greedy in the forex market is very common as all the traders go through this stage. In fact, I'd say it's in human DNA. But without having strong control over your emotions, it won’t be possible to trade the market wisely. Many traders can control their greedy emotions and thus they become successful but there are also many traders who fail to control their greed and end up blowing their account.
It is very important to be able to stop yourself in time. Otherwise, the result may not be positive at all.
It is an art. I sometimes will remove my SL when i know a big news event is coming
Nov 30 2021 at 17:47
davemack posted:I agree with you.
Trading with greed can lead you to lose money and leave you broke. You will be praying that the market just goes back to where it was before so you can make your money back. But it never does. So always take your decisions wisely and stop trading when you feel it is not right for you anymore.
Many traders set a wide stop loss. They don’t realise that it doesn’t matter how much profit you want to take from a trade. Market doesn’t work according to anyone. A stop loss should be placed at a position after carefully analysing past trends and if there is any news that can push the price higher, then you should consider that too before making a final decision.
Dec 03 2021 at 07:19
it depends on your risk figure, I keep it in between 2 - 5 ticks.
Dec 03 2021 at 08:52
kroxobor posted:I agree with you.
Many traders set a wide stop loss. They don’t realise that it doesn’t matter how much profit you want to take from a trade. Market doesn’t work according to anyone. A stop loss should be placed at a position after carefully analysing past trends and if there is any news that can push the price higher, then you should consider that too before making a final decision.
In general, this can be understood already on the basis of the accumulated experience. As for me, this is quite normal.
Dec 04 2021 at 08:55
Yes, we need to know where we have placed the stop loss, since we will use this data to determine the number of lots or contracts that we must buy or sell.
Actually, to my mind, you have to stop when you need to stop.
If you see that market tries to elimate you as a trader, then probably it's right time to stop, because your further moves can be very dangerous.
Traders don't like when other traders turn trading activity into gambling, when you have a lots of losses, then you start to open positions without any idea why you open it, just because you want to give your money back.
It's better to stop, rather than continue in this situation.
If you see that market tries to elimate you as a trader, then probably it's right time to stop, because your further moves can be very dangerous.
Traders don't like when other traders turn trading activity into gambling, when you have a lots of losses, then you start to open positions without any idea why you open it, just because you want to give your money back.
It's better to stop, rather than continue in this situation.
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