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You don't need to be

SteveHanks
Jul 03 at 09:54
305 Posts
SofieAndreasen posted:
True. Risk management is essential in trading as it helps traders to survive in the market.

I agree with you. Risk management is very necessary to make money from this market.

LukeRachel
Jul 03 at 12:13
286 Posts
Yes, I think so too, a trader can never be 100% correct. There will be some loss percentage but this loss has to be managed with a risk ratio.

Akasuki
Jul 06 at 13:52
248 Posts
@LukeRachel Yes it's the managing the risk that makes a difference between good trader and bad trader. Bad traders are over confident and don't follow any risk management policy. Good traders are the opposite.

AliaDare
Jul 06 at 14:27
593 Posts
Akasuki posted:
@LukeRachel Yes it's the managing the risk that makes a difference between good trader and bad trader. Bad traders are over confident and don't follow any risk management policy. Good traders are the opposite.

The right thinking. There are many conditions to be a successful trader.

billysnyder
Jul 12 at 05:07
32 Posts
I agree. Risk reward ratio should be around this only in order to earn else you might lose your money.

teadragon1
Jul 12 at 12:23
9 Posts
RR is no everything but it is important. But be careful not to go too extreme. An RR of 1:10 may sound great but will the price ever reach such a large target

Hrenz
Jul 13 at 06:13
38 Posts
You always need to rationally assess the situation and understand the opportunities that you can get and use.

Tremblay
Jul 13 at 17:24
330 Posts
Hrenz posted:
You always need to rationally assess the situation and understand the opportunities that you can get and use.

I agree with you.

LukeRachel
Jul 14 at 16:56
286 Posts
AliaDare posted:
Akasuki posted:
@LukeRachel Yes it's the managing the risk that makes a difference between good trader and bad trader. Bad traders are over confident and don't follow any risk management policy. Good traders are the opposite.

The right thinking. There are many conditions to be a successful trader.

Thank you, I hope you will help in the future with better information.

Predaktur
Jul 23 at 07:21
12 Posts
You don't need to be genius to make money on forex. There are two groups of forex stereotypes: 1. It's a scam (the most popular), 2. A trader should be super smart in order to make at least some money. Surely, a trader should possess some knowledge and skills but they are much easier to acquire than the knowledge about nuclear physics and Higgs boson. The key thing in trading, from my perspective, is discipline. Even if you don't really understand some economic concepts, but you have a good trading strategy that you can follow, you still have good chances to make decent profits.

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