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Believes.
Oct 27, 2019 at 06:51
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off. That is so terribly wrong. Stop loss placement is one of the most crucial keys if you want to make forex trading profitable. Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way.
Oct 27, 2019 at 14:48
45656 posted:
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off. That is so terribly wrong. Stop loss placement is one of the most crucial keys if you want to make forex trading profitable. Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way.
Basically, I always wait for the final result; don’t close my trade in the middle path! That’s my trading rule!
Nov 05, 2019 at 10:22
45656 posted:
Some believe in mental stop loss placement. meaning that when they feel that a trade is not going their way, they will then cut it off. That is so terribly wrong. Stop loss placement is one of the most crucial keys if you want to make forex trading profitable. Another mistake traders make is that they shift their stop loss. They shift it backwards, thinking that the trade will just go back a little more and will come back their way.
This shouldn’t be done. The basic motive of setting a SL is to cut out the emotional interference in trading, but if a trader does all this, he definitely is getting affected by his emotions, that is why they doing all this. So the main motive of setting a SL is gone.
Nov 28, 2019 at 12:00
Trading should be done with proper technical knowledge , demo account trading experience , good capital on hand ,good risk management skills and trading goals should be very clear trader should cut off on the basis of market conditions.
Revenue is vanity, profit is sanity, but cash is king
Mitglied seit Aug 27, 2017
875 Posts
Dec 01, 2019 at 14:31
Imamul posted:
practice can make you perfect , but in Fx we practice at random in demo and got nothing ultimately. si, i recommend micro account for practicing.
Whatever is it; traders need have a long-term plan on practice. It’s a long term process! There is no shortcut way of learning!
keeping patience.......
Mitglied seit May 10, 2019
22 Posts
Dec 02, 2019 at 18:38
Every trader has his own approach. I know a lot of people who have done just that. If the day is not yours, it is better to stop. And I saw the stories of those who fought to the last and were not going to let their luck out of their hands. I can't say that one of these approaches is good and the other is bad. Everyone chooses what suits him. Each of us has one goal - to earn money. It is not a big deal that the generally accepted rules do not bring you success if you have found the approach that suits you and helps you to get a positive result.
Jan 25, 2020 at 17:03
That's where technical and fundamental analysis can come to your help with anything being done perfectly simply. Are you ready for that or not? Ready to take over? Forex is not simple game, so be prepared please if you really can do it.
Jan 29, 2020 at 11:04
Baazex posted:
Trading should be done with proper technical knowledge , demo account trading experience , good capital on hand ,good risk management skills and trading goals should be very clear trader should cut off on the basis of market conditions.
Nice Explanation! You have basically summed up everything in one line which is required for trading.
Jan 30, 2020 at 10:29
Yea, I can see that happening but sometimes the outcomes can be right but that is very low. Trading should be done when you are confident but not too overconfident and having a proper understanding on what is going to happen. Basically you have to clear your head and have a clear trade.
Mitglied seit Nov 15, 2019
23 Posts
Feb 02, 2020 at 14:46
Success in trading depends on a large number of indicators, but if you are willing to work on yourself and learn new strategies, if you are not afraid to make a mistake and try again, then you will definitely succeed and have a good income.
Mitglied seit Feb 25, 2020
3 Posts
Feb 25, 2020 at 14:48
Johannes33865 posted:
This resource has a lot of interesting things. But each trader needs to choose a specific strategy and try to remake it to his own style.
I support your thought
Mitglied seit Jul 23, 2020
696 Posts
Sep 08, 2020 at 22:13
Stop loss is important factor in trading. Trader should have good understanding of support and resistance level to place good SL order.
Sep 09, 2020 at 05:25
Shifting of stop loss happens when a person doesn't know how price works. They remain fearful after opening a trade. A person need to learn how to trade. He also needs to know When to trade when not to trade. Otherwise it will happen again and again.
Mitglied seit Sep 12, 2017
232 Posts
Sep 09, 2020 at 08:24
A stop-loss order eliminates emotions that can impact trading decisions. This can be especially handy when one is not able to watch the position. Stop-loss in Forex is critical for a lot of reasons. However, there is one simple reason that stands out - no one can predict the exact future of the Forex market. It does not matter how strong a setup may be, or how much information might be pointing to a particular trend.
Mitglied seit Jun 24, 2020
31 Posts
Sep 10, 2020 at 07:13
SofieAndreasen posted:
Stop loss is important factor in trading. Trader should have good understanding of support and resistance level to place good SL order.
I agree. Many traders dont use it at all. I believe its one of the most underestimated things but is a great way of keeping your losses limited.
Mitglied seit Jul 20, 2020
278 Posts
Sep 10, 2020 at 11:04
Especially professional traders don't use a stop loss. Because they are confident with their strategy. But every new trader should use stop loss to control their losses as mc as they can.
Sep 10, 2020 at 12:41
Mental stop loss is okay for them who glue their eyes to trading platform until trade is closed. It's all about what you are comfortable. As long as you are making consistent money everything you do is best for you. We have to change what needs to change.
Sep 25, 2020 at 01:09
If a trader trades emotionally, he will never succeed in trading. Stop Loss is an important part of trading. If a trader cannot set the stop loss properly, he will never be able to make a profit. If you give less stop loss in the Volatile market, it is more likely to hit. And in the impulsive market situation, if the stop loss is less, there is no problem and it is better to give the stop loss on the swing point.
