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We should not think
Mitglied seit Jul 23, 2020
816 Posts
Mar 19, 2021 at 17:43
MadBadDangerous posted:
Starting small is what so important but so many just rush in and lose their savings in a week.
I also agree with you completely. Don’t rush to go live account.
Mitglied seit Mar 17, 2021
494 Posts
Jul 03, 2021 at 10:04
marioharmon posted:
Yes, setting some unrealistic goals is not a good sign for trading forex. Starting small will be helpful.
I agree with you. Setting a good goal is very much needed.
Jul 04, 2021 at 11:06
@marioharmon Setting unrealistic profit goal in trading is a common phenomenon. It seems people lost their common sense when they come to forex trading.
Mitglied seit Jun 08, 2021
9 Posts
Jul 05, 2021 at 12:03
If TP is too small the spread will take all profit from you. Better to have large TP then spread does not matter so much
Oct 06, 2021 at 19:01
I guess we should tihnk, but we shouldn't believe that everything in trading activity is easy and we shouldn't set unproper goals, unrealistic ones as you said. In my opinion, we have to look at things in trading wisely. We should understand that there is nothing easy in it and we can't get anything we want right away. We have to dedicate lots of time and make plenty of efforts in order to reach success. It relates to any other activities actually. Any activity requires efforts and wished to reach something in it. However, we have to think all the time we sit down in front of the laptops or pcs.
Oct 08, 2021 at 12:04
RobSchiz posted:Garrian posted:
I guess we should tihnk, but we shouldn't believe that everything in trading activity is easy and we shouldn't set unproper goals, unrealistic ones as you said. In my opinion, we have to look at things in trading wisely. We should understand that there is nothing easy in it and we can't get anything we want right away. We have to dedicate lots of time and make plenty of efforts in order to reach success. It relates to any other activities actually. Any activity requires efforts and wished to reach something in it. However, we have to think all the time we sit down in front of the laptops or pcs.
Trading is not so easy. You need proper knowledge to make money from this market.
I agree with you, the forex market keeps changing, it is only the knowledge which you have will help you in every situation.
Mitglied seit Jun 21, 2021
33 Posts
Oct 11, 2021 at 09:47
skihav posted:
I believe that trading is, on the contrary, a place where thinking is simply necessary. When I started working in this industry with a broker, I devoted a lot of time to the learning process.
Yes exactly!
Forex learning is an extremely important part of trading because your financial security is dependent on it.
Mitglied seit Mar 17, 2021
494 Posts
Oct 12, 2021 at 06:51
skihav posted:
In trading, this will not work. Only thoughts, only sound and balanced decisions for work.
I agree with you.
Mitglied seit Apr 09, 2019
516 Posts
Oct 12, 2021 at 08:07
I would say that thinking is essential to successful trading however you do raise a very valid point on the subject of setting realisitic expecations. If you are a break even trader, what evidence do you have that you should be aiming for say 5% a month for example? Aim to make any profit (with the same level of rsk).
If you can't spot the liquidity then you are the liquidity.
Oct 12, 2021 at 09:46
sebking1986 posted:
I would say that thinking is essential to successful trading however you do raise a very valid point on the subject of setting realisitic expecations. If you are a break even trader, what evidence do you have that you should be aiming for say 5% a month for example? Aim to make any profit (with the same level of rsk).
I would say that is very high and quite risky. I haven't gone more than 2% rrr and there was the time where I did go above 3% but it was just purely based on luck. However, if you are very confident enough, then I guess it is okay.
Mitglied seit Apr 09, 2019
516 Posts
Oct 12, 2021 at 10:10
I used 5% as an abritrary number. This is based on 1% risk per trade. But yes if you are break even consistently then making a few tweaks to try and get to 0.5% profit at the end of the month is progress and not to be sniffed at. My point is don't expect to be a losing trader and then be breezing through an FTMO challange a month later. Social media has created false expectations for people coming into trading.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Sep 13, 2021
8 Posts
Oct 12, 2021 at 11:15
A top hedge fund manager will make 10-20%. And that is PER YEAR!!! Just think about that when you want to make 5% per week. Keep your targets realistic
Mitglied seit Aug 05, 2021
394 Posts
Oct 12, 2021 at 17:20
I originally thought you meant that we shouldn't think while trading based on the title, lol. Having unrealistic goals just sets you up for disappointment when you don't meet them. Instead, I think it's important to celebrate the small victories and to start by patting yourself on the back for *not* losing money.
Mitglied seit Jun 17, 2021
44 Posts
Oct 15, 2021 at 09:21
Yes, it's very true that one should keep their targets realistic as you cannot aim for such high returns as this would be similar to gambling and wouldn't make sense.
Mitglied seit Jun 14, 2021
51 Posts
Oct 15, 2021 at 11:35
Having realistic goals in forex trading will help you a lot. It's not easy, but it's effective.
