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Successful trading
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momo3HC

Member Since Oct 20, 2018  62 posts momo3HC Jun 15 at 12:59
Imamul posted:
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.


There`s a lot more things needed for successful trading like right mindset, money and risk management and etc.

fxsc1lper

Member Since Nov 17, 2012  308 posts Fx Scalper (fxsc1lper) Jun 16 at 06:55
Professional4X posted:
fxsc1lper posted:
i believe on profitable strategy ..

if ur strategy hit 8 TP among 10 trades , then u dont need money managemment or risk M.. or any other thing . u must should know what to do


Anyone who advises people to ignore money management or risk management, clearly should be promptly ignored because they no real understanding of the markets.


No SL? Oh sure that's a really smart idea....

Enjoy those 3000 PIP flash spikes...

We've had more than one massive flash spikes in price movements in recent times.

And booom. Account blown...


yah after spending 10 years in forex market ..of course i dont know .
i dont know 25 rules of money management and psychology
i dont know any fundementals
i dont know market structures
i dont know technical analysis more than 50 i dont want to write down here
i dont know 8 types of money management and risk management with depth
i dont know model of liquidity providers , security funds , and brokers secerts and methodology of work
of course i didnt read more than 3000 forex ebooks , didnt met with more than 10,000 forex traders , didnt attend more than 100 seminars, didnt study more than 10 ,000 forex strategies , didnt tried 1000 paid robots :)
didnt understand mafia of brokerage
didnt make many videos and wrote articles about forex

yah i dont real know understanding of the market , thankx for telling :).. dont know why every body think only he know the market .plz give respect to others :) every one has right to give his own opinion..

* the people who are using Stoploss making huge profit ? those are also lossing money , so point is not SL here i just shared my thoughts and experience :) as per u shared .. dont mind and thankx

skype id millennium.analyst
Adolis

Member Since Feb 12, 2019  8 posts Adolis Jun 20 at 06:08
The best way to be successful as a trader is to build your trading strategy, practise proper risk management, be disciplined in following your trading plan and then wait patiently for your success. It does not come on a silver platter though, so you have to ensure you learn as much as possible on technical and fundamental analysis

blakeolson9

Member Since May 28, 2019  12 posts Blake (blakeolson9) Jul 02 at 07:00
Risk management is important. However, I feel like most people on this thread are giving it way too much credit. I have attached an image of how much percentage gain it would take to recoup losses at different percentages and we can all see that as it gets to be a higher percentage loss the amount needed to come back increases at an increasing rate. That being said, the knowledge of how to make good proper trades is equally if not more important in my opinion than exact proper risk management, some people do 2%, some people do 1% some do less than that, it doesn't really matter as long as your not being ridiculous with it by risking 80% of account or something like that IF you have a solid system and are good at trading. For example, moving SL to BE, a strategy that doesn't need much DD, and proper TP technique. There are many other things that separate good traders from the losers but imo these are the most important 2 things.
Attachments:

45656

Member Since Jun 29, 2019  53 posts 45656 Jul 03 at 05:48
Every trader requires profit and many may assume greater profit as greater success which is indeed a wrong concept for the forex traders. We can’t disregard the magnitude of carrying out our trading performance with complete awareness which can actually allow a trader to be a survivor here. Every trader who requires achievement should go through proper analysis, utilization of appropriate trading skills and working with reliable and proper broker here.

smith_fx

Member Since Jul 09, 2019  23 posts smith_fx Jul 30 at 06:29

There is no single formula for becoming successful in trading. Success takes time be it any sphere of life. Similarly becoming successful in trading calls for a lot of patience, skill , knowledge base, inquisitiveness and discipline . All you can do is go step by step , analyse each and every trading related thing and balance your profit risk ratio.

BBBLack

Member Since Jul 31, 2019  9 posts BBBLack Jul 31 at 08:44
blakeolson9 posted:
Risk management is important. However, I feel like most people on this thread are giving it way too much credit. I have attached an image of how much percentage gain it would take to recoup losses at different percentages and we can all see that as it gets to be a higher percentage loss the amount needed to come back increases at an increasing rate. That being said, the knowledge of how to make good proper trades is equally if not more important in my opinion than exact proper risk management, some people do 2%, some people do 1% some do less than that, it doesn't really matter as long as your not being ridiculous with it by risking 80% of account or something like that IF you have a solid system and are good at trading. For example, moving SL to BE, a strategy that doesn't need much DD, and proper TP technique. There are many other things that separate good traders from the losers but imo these are the most important 2 things.


Most sensible thing I have read on MyFXBook, To much credit is given to risk management but with all the risk management in the world you can still lose money (only slowly)

Minhthang2603

Member Since Mar 05, 2017  20 posts Thang (Minhthang2603) Jul 31 at 09:36
Imamul posted:
Successful trading is depend on most powerful analyzing trade knowledge , on the other hand , despite of good trading knowledge that’s not possible at all to lead a successful trading life at all if you don’t have a reliable support from a credible trading broker , because the broker can affects the result of our trading with certainly.

I totally agree!

Mohammadi

Member Since Aug 11, 2017  550 posts Mohammadi Aug 04 at 07:13
Knowledge is the key to success in Forex. There is nobody who can make success from here without knowledge . so we have to emphasis on acquiring real trading knowledge and we can get most powerful analyzing trade knowledge by passing a long time. Otherwise that’s not possible at all.

Imamul

Member Since Aug 09, 2017  324 posts Imamul Aug 04 at 08:16
for success , the most important trading tip , i think try to manage your money when trading in practical , only money management can change your trading life , otherwise no way to survive in here with successfully. 

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