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Psychology of Forex Trading
Miembro desde Dec 06, 2018
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Miembro desde Jan 15, 2019
posts 11
Miembro desde Aug 27, 2017
posts 994
Feb 20, 2019 at 07:26
Miembro desde Aug 27, 2017
posts 994
ChristianBeach posted:
I too found converting a manual strategyt to EA very difficult. I think EA are better suited to non standard strategies. Trying to get support and resistance lines on an EA is almost impossible
EA is a good option only for the EA developers; if you are trading manually then manual trading is the best choice for you.
Miembro desde Feb 20, 2019
posts 11
Feb 21, 2019 at 10:55
Miembro desde Aug 09, 2017
posts 785
Actually only due to lack of trading knowledge is not the foremost reason for failing , according to me most of them are loser because of emotions and they try to take revenge when fall a loss. Nothing without it there is no reason behind major losses.
Miembro desde Jan 23, 2019
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Miembro desde Jan 05, 2016
posts 1189
Feb 22, 2019 at 18:24
Miembro desde Jan 05, 2016
posts 1189
NascarLover posted:
That is true but some FX strategy cannot really be programmed well with EA.
It is difficult to program SR an strategy that use chart patterns / sloping trend lines. it is possible but not easy.
That's complete nonsense. It is a trivial matter to query the data on the MT4.
if(iSAR(NULL,0,0.02,0.2,0)>Close[0]) return(0);
https://docs.mql4.com/indicators/isar
Read the documentation, and take a look at the available source code examples.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Miembro desde Aug 27, 2017
posts 994
Feb 24, 2019 at 07:25
Miembro desde Aug 27, 2017
posts 994
Alcides666 posted:Exactly, I have also same opinion; knowledge is the key! When you have enough knowledge then definitely you’ll know what to do & what to avoid.
Maybe so but the losses start due to back knowledge. if they have good knowledge then wont has many losses and will be no need for revenge trading and emotion
forex_trader_565984
Miembro desde Oct 08, 2018
posts 144
Feb 24, 2019 at 07:27
Miembro desde Oct 08, 2018
posts 144
In my experience, in order to be successful in trading one must be having a thoroughly tested trading system and must be having a trading plan and the trader must execute the trading plan in each and every trade without fail.
In other words, a trading plan must include everything to execute each trade without any emotions. So for a newbie trader it is best to choose a trading system which uses set and forget type of trades by placing pending orders with fixed stop loss and take profit before even the trade gets executed in market. In this way, there is no question of making trading mistakes with emotions.
In other words, a trading plan must include everything to execute each trade without any emotions. So for a newbie trader it is best to choose a trading system which uses set and forget type of trades by placing pending orders with fixed stop loss and take profit before even the trade gets executed in market. In this way, there is no question of making trading mistakes with emotions.
Miembro desde Feb 22, 2019
posts 11
forex_trader_565984
Miembro desde Oct 08, 2018
posts 144
Feb 24, 2019 at 08:22
Miembro desde Oct 08, 2018
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Alcides666 posted:Revenge trading happens if the system is not well tested with past data and if the trader doesn't have a trading plan or simply if he is gambling.
Maybe so but the losses start due to back knowledge. if they have good knowledge then wont has many losses and will be no need for revenge trading and emotion
Because gaining knowledge is easy, but applying the knowledge at the right time is sometimes difficult. So trading practice during backtesting a system and forward testing in demo accounts can help newbie traders to succeed in forex fast.
Feb 25, 2019 at 11:57
Miembro desde Apr 18, 2017
posts 920
WinterWalker posted:
There will always be losses. It is stupid to think that even with a good strategy there will be no losses. Even pro have months of losses
That’s real scenario, mate! There is nothing like 100% in Forex, it’s all about the probabilities.
Miembro desde Feb 25, 2019
posts 10
Feb 25, 2019 at 13:49
Miembro desde Feb 25, 2019
posts 10
AniLorak posted:WinterWalker posted:
There will always be losses. It is stupid to think that even with a good strategy there will be no losses. Even pro have months of losses
That’s real scenario, mate! There is nothing like 100% in Forex, it’s all about the probabilities.
What is good win rate that a real trader gets?
Feb 27, 2019 at 12:28
Miembro desde Aug 09, 2017
posts 785
We always advised by the senior traders and experts just for learning. but I think we the newcomers have to practice trading besides learning process. Demo account is more appropriate for them and as a learning Process newcomers can depend on Pips School.
Miembro desde Feb 22, 2011
posts 4862
Feb 27, 2019 at 13:06
Miembro desde Feb 22, 2011
posts 4862
ChristianBeach posted:
I too found converting a manual strategyt to EA very difficult. I think EA are better suited to non standard strategies. Trying to get support and resistance lines on an EA is almost impossible
I haven't strategy which could not be converted to EA within a day.
The problem is that usually the strategy itself is not well described.
Miembro desde Jan 15, 2019
posts 11
Feb 28, 2019 at 06:50
Miembro desde Jan 15, 2019
posts 11
togr posted:ChristianBeach posted:
I too found converting a manual strategyt to EA very difficult. I think EA are better suited to non standard strategies. Trying to get support and resistance lines on an EA is almost impossible
I haven't strategy which could not be converted to EA within a day.
The problem is that usually the strategy itself is not well described.
Could you please clarify what exactly you mean?
Miembro desde Aug 27, 2017
posts 994
Feb 28, 2019 at 07:58
Miembro desde Aug 27, 2017
posts 994
togr posted:Did you mean that, you can convert your strategy to EA so quickly? Or anything else?ChristianBeach posted:
I too found converting a manual strategyt to EA very difficult. I think EA are better suited to non standard strategies. Trying to get support and resistance lines on an EA is almost impossible
I haven't strategy which could not be converted to EA within a day.
The problem is that usually the strategy itself is not well described.
Mar 01, 2019 at 13:34
Miembro desde Aug 09, 2017
posts 785
In Fx trading, learning is not easy despite of having too many sources including pips school, learning sometimes boning and usually new traders get tempts to start trading without enough knowledge and become fascinated with the way of trading live which may cause laziness and trapped by wishful thinking get rich quickly scheme
Mar 04, 2019 at 15:16
Miembro desde Mar 04, 2019
posts 10
If you find Forex trading boring then you should leave and try something else. No one will make money doing something that they do not enjoy. I love everything about Forex, the fundamentals the technical all that. There is so much to learn and I still love the thrill of entering a trade.
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