Jan 15 at 10:48
Harshalgibbs posted:Michihito posted:
Trade management is very important. You have to be disciplined and organized in your trading. A solid trading plan, money management, risk management, and risk reward ratio all should have been specified. One of the reasons Most traders fail because they are not disciplined in their trading.
It is so important for traders to never come under the influence of their emotions. Sometimes it is good to take a step back and analyse. If you do things in a hurry then obviously you would lose money because you are not calculating risk associated with that trade.
There should be rules and discipline in trading because without it it’s impossible to succeed. Investing brashly with unrealistic expectations would bring you on the road literally. At the end your take away profit is the sum total of the losses and gains. It is not like one profit means you conquer everything.
Jan 15 at 12:57
UweMoench posted:
In trading everyone should have some rules. And you have to stick to those rules. Like there should have been a fixed risk reward ratio. It could be 1:1 or 1:2 according to your strategy. When you have risk reward ratio, you will open trade if the criteria is met. Sometimes we may need to take instant decision depending on the market situation. But rules should be there. That's the reason discipline is the key to success here.
Totally agree, if you have rules and follow them youre a long way to being successful
Jan 16 at 04:17
Marksteve posted:Harshalgibbs posted:Michihito posted:
Trade management is very important. You have to be disciplined and organized in your trading. A solid trading plan, money management, risk management, and risk reward ratio all should have been specified. One of the reasons Most traders fail because they are not disciplined in their trading.
It is so important for traders to never come under the influence of their emotions. Sometimes it is good to take a step back and analyse. If you do things in a hurry then obviously you would lose money because you are not calculating risk associated with that trade.
There should be rules and discipline in trading because without it it’s impossible to succeed. Investing brashly with unrealistic expectations would bring you on the road literally. At the end your take away profit is the sum total of the losses and gains. It is not like one profit means you conquer everything.
Trading rules can only be made when you know about the trading scenario and what is the actual meaning of reckless trading. I have done this in demo trading on Fxview and CMC Markets where I just looked at candlestick charts and haphazardly traded. It resulted obviously in loss of money. I learnt my lessons and the meaning of brash trading on demo, doing better on live now.
Jan 16 at 09:37
Harshalgibbs posted:Marksteve posted:Harshalgibbs posted:Michihito posted:
Trade management is very important. You have to be disciplined and organized in your trading. A solid trading plan, money management, risk management, and risk reward ratio all should have been specified. One of the reasons Most traders fail because they are not disciplined in their trading.
It is so important for traders to never come under the influence of their emotions. Sometimes it is good to take a step back and analyse. If you do things in a hurry then obviously you would lose money because you are not calculating risk associated with that trade.
There should be rules and discipline in trading because without it it’s impossible to succeed. Investing brashly with unrealistic expectations would bring you on the road literally. At the end your take away profit is the sum total of the losses and gains. It is not like one profit means you conquer everything.
Trading rules can only be made when you know about the trading scenario and what is the actual meaning of reckless trading. I have done this in demo trading on Fxview and CMC Markets where I just looked at candlestick charts and haphazardly traded. It resulted obviously in loss of money. I learnt my lessons and the meaning of brash trading on demo, doing better on live now.
Another thing I would say is that ya I do say that trading rules are important but they should not be shackles for the experimentation in the markets. They should just be guides to not go down the cliff. Something that would refrain a trader from treating trading as gambling for short wins in the markets.
Jan 16 at 12:54
Many novice traders think that the brokers are the key to profit but that is not the case. When I read about the trading experiences of the other traders from social trading brokers such as etoro I made rules from their experience, because I didn't want to make the same mistakes. I made a solid trading plan which I use for trading on fxview now. I follow everything to the T - entry, exit, stop loss, profits, etc.
Jan 16 at 14:15
Of course, there are some rules in trading that every trader should follow. If you can't maintain discipline, plan money management, risk management, etc., it is never possible to follow those rules.
Jan 16 at 17:37
AliaDare posted:
Of course, there are some rules in trading that every trader should follow. If you can't maintain discipline, plan money management, risk management, etc., it is never possible to follow those rules.
True. Practice makes a man perfect. So, practice those rules as much as possible.
Jan 18 at 03:58
Trading without rules is like walking without a destination to reach. Setting rules is crucial in order to achieve trading goals and manage your capital.
The more your practice, the more you learn.
Jan 18 at 16:05
There are rules and no rules in trading.
Everything in trading is trivial and incredibly complicated.
And that's why we love it so much and don't leave it, because there's always emotion and money.
Everything in trading is trivial and incredibly complicated.
And that's why we love it so much and don't leave it, because there's always emotion and money.
Jan 18 at 16:11
There are a huge number of work formats on the market, and you can choose any of them and act quite effectively. The most important thing here is to take your time and try to evaluate each decision as carefully and accurately as possible.
