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In forex trading, I've learned that having the right knowledge, being consistent, and being patient are all crucial.
Quercine posted:Risk managment 👌👌
In forex trading, I've learned that having the right knowledge, being consistent, and being patient are all crucial.
Even though long-term trading brings the perfection in trading, I prefer scalping the most. For scalping nicely, you need to have a scalping-friendly broker. Scalping enables a trader to derive profit from the market quickly by entering and exiting trade within a very short time.
Aug 21 2022 at 17:24
SteveFx11 posted:I combine Trends and Scalping to give me much profits.
Even though long-term trading brings the perfection in trading, I prefer scalping the most. For scalping nicely, you need to have a scalping-friendly broker. Scalping enables a trader to derive profit from the market quickly by entering and exiting trade within a very short time.
One of my biggest lessons are:
1) Learning to calculate what I'm actually risking before I take a trade, it has saved me in the long run.
2) I use stop orders below a previous bullish candle when I want to sell at a zone and vice versa which means I don't get activated if the zone don't hold and because it's a pending order, I calculate my risk before the move.
3) Risk to reward is super important, I usually set 1:3 and manage the trade till it hits or not hit my TP.
1) Learning to calculate what I'm actually risking before I take a trade, it has saved me in the long run.
2) I use stop orders below a previous bullish candle when I want to sell at a zone and vice versa which means I don't get activated if the zone don't hold and because it's a pending order, I calculate my risk before the move.
3) Risk to reward is super important, I usually set 1:3 and manage the trade till it hits or not hit my TP.
Profit
Your first point is so important. Focus on managing risk and the profits will take care of themselves if your system is solid and well tested.
If you can't spot the liquidity then you are the liquidity.
Aug 22 2022 at 14:10
sebking1986 posted:It really is its the bedrock of all successful trading. Once the edge is there we can then progress knowing the risk of bust or ruin isn't a factor
Your first point is so important. Focus on managing risk and the profits will take care of themselves if your system is solid and well tested.
Aug 23 2022 at 04:15
Have control on your emotions
Always have a plan and to follow it
The importance of discipline
Use leverage carefully.
Set attainable objectives.
Always have a plan and to follow it
The importance of discipline
Use leverage carefully.
Set attainable objectives.
It’s not just what you aim at but also about what you are doing to achieve your aim. Everyone wants to make money but not everyone does the required hard work to win in the long term. You have to write your own destiny.
Aug 26 2022 at 10:03
The biggest lesson in my trading journey was that you will grow only if you want to. If you keep depending on free lunches, you will stay where you started. So, get out of your hole and learn from everywhere you can.
Besides earning knowledge by watching video tutorials, you should practice on demo account. Otherwise, it will create a great deficiency of knowledge in you.
Aug 26 2022 at 13:28
Washboard posted:Love this point of view. I think so many people are too quick to give up when something seems hard. We're all capable of becoming rich or changing our situation, but it often takes a lot of thought and action to get there.
It’s not just what you aim at but also about what you are doing to achieve your aim. Everyone wants to make money but not everyone does the required hard work to win in the long term. You have to write your own destiny.
Aug 28 2022 at 09:58
HeavLeighGill26 posted:Washboard posted:Love this point of view. I think so many people are too quick to give up when something seems hard. We're all capable of becoming rich or changing our situation, but it often takes a lot of thought and action to get there.
It’s not just what you aim at but also about what you are doing to achieve your aim. Everyone wants to make money but not everyone does the required hard work to win in the long term. You have to write your own destiny.
Agree, i think a purpose is key if the the target and reasoning isnt driving you it is so easy to become aimless and now have the drive and motivation to go that extra yard that's needed for sure
Sep 01 2022 at 10:05
Here are my five lessons!
1. The markets are always changing
2. You need to keep learning
3. A good trading plan is essential
4. You need to be disciplined
5. You need to manage your risk
1. The markets are always changing
2. You need to keep learning
3. A good trading plan is essential
4. You need to be disciplined
5. You need to manage your risk
A trader must nurture the wish of self-development otherwise earning success will be difficult for traders. One of the phases of self-development is to avoid over and over mistakes.
I think that a yearning to develop must be present in most professions but it is especially important in trading. You get left behind very quickly otherwise.
If you can't spot the liquidity then you are the liquidity.
Sep 05 2022 at 17:11
sebking1986 posted:
I think that a yearning to develop must be present in most professions but it is especially important in trading. You get left behind very quickly otherwise.
I completely agree its one profession where self awareness and progression a must. Its where consistent analysis is needed to make sure success continues as the years go on
Sep 07 2022 at 10:18
1. Keep your emotions under control
2. Always follow your plan
3. Utilise leverage sensibly
4. Set reasonable goals
5. Understand importance of discipline
2. Always follow your plan
3. Utilise leverage sensibly
4. Set reasonable goals
5. Understand importance of discipline
