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Michihito
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Common mistakes
in
General
Jan 07, 2021 at 11:09
Managing risk is the most important yet most ignored aspect in trading. I mean all unsuccessful traders do not have any risk management policy. I do not risk more than 1% of my capital in a single trade. If I open more than one trade my maximum risk percentage is 2%.
Should anyone give up?
in
General
Jan 07, 2021 at 11:08
Not everyone can be a trader. A person with determination, quest for knowledge, patience and good understanding ability can be a trader. And all these qualities can be achieved if one wants. But the problem is most people do not have that much will power. You should choose the career that you understand and like to do. You can not choose your career based on opportunity of huge profit.
To make a good trading plan
in
General
Jan 03, 2021 at 07:19
To make a good trading plan we need to know our strength and weakness. A trading plan should be based on strength. Most people ignore their weakness and try to trade in all kind of situation. It's not good.
No system works all the time
in
General
Jan 01, 2021 at 05:47
No one has ever got success in trading by borrowing strategy. A strategy becomes successful when it is well tuned with you trading personality and emotions. Trading is not an easy task to do You have to do a lot of research and experiment to find a working strategy.
Most people fail because
in
General
Jan 01, 2021 at 05:46
There is a misperception that for success in forex you need big capital. But only big capital can't save you. Big capital is good when you are skilled enough. Otherwise No matter how big your capital is you would lose all the money. So in learning phase, low capital is the best option.
For newbie long term trading
in
General
Dec 31, 2020 at 13:15
For newbie long term trading is good as it helps to develop trading psychology. And for long term H4 and D1 time frames are good. But above all, the best is what works for you. What works for me may not work for you. By study and experiment you have to find out what you understand the most and what works for you.
There are three things
in
General
Dec 31, 2020 at 13:01
The first step of trading is to understand that it needs a lot of time and efforts to be skilled enough. There is no short cuts. If you can't give enough time and effort in learning just leave it. You have to go through the full learning process. Just by following some ready-made strategies, nothing going to happen.
Trading without stop loss
in
General
Dec 31, 2020 at 12:55
There is huge possibility of losing your money very quickly. That's why some people are scared of investing in forex trading. Even after that everyday millions of people are trading. And it is not necessary that everyone should do trading. There are many other business one can do. And many people are doing great with other business.
Strategy and Forex
in
General
Dec 30, 2020 at 09:47
Scalping is risky especially for newbies. By doing scalping a newbie becomes habitual to lot of trading which leads to over trading. And over trading leads loss. Later it becomes very difficult to change the habits.
Investing in Forex
in
General
Dec 30, 2020 at 09:47
People here want to make lot of money in a short time. As a they are more interested in trading than learning. But knowledge and skills comes first. They are not ready to understand it.
In trading everyone should have some rules
in
General
Dec 30, 2020 at 09:41
Two things I have learned that we should not do. One is revenge trading. After a loss trade, to open many trades to recover it quickly. Second is not waiting enough to set up to come. It means sometimes I open trade to early in fear of losing an opportunity.
To be a gainer
in
General
Dec 30, 2020 at 09:40
Greed is the cause of destruction. It leads to over trading and unnecessary trading. Profit target should be logical and also should match with skills. If I have ability to get 50 pips, my expectations should not more than that.
Basics knowledge is not enough
in
General
Dec 29, 2020 at 12:17
Trading with big balance like 50k demo balance is not a good idea. You didn't say anything about risk money management policy. What's your risk reward ratio? What's your winning odds with the strategy you follow? Make your trading system well defined. And per day 5% return is unrealistic. In demo basically you have developed some wrong perception about trading.
Strategy and Forex
in
General
Dec 29, 2020 at 12:16
There are many good indicators. It all about what you understand the most and what works for you. By following other's suggested indicator we may make some temporary money but for long term sustainable success we need to find the indicator or system that works for us.
No alternative to learning
in
General
Dec 29, 2020 at 12:11
Learning is the key to success. And practice makes us perfect. Practice means a newbie should do a lot of experiments on demo account to see what works for him. And all these need time. You have to give enough time for learning and research if you want to be a good trader.
Investing in Forex
in
General
Dec 29, 2020 at 12:10
Forex trading is getting popular day by day. You can make money by trading foreign currency. It can be a good source of income if you can learn the art of trading. To acquire the knowledge and skills you need to study a lot.
It is very important to sharpen
in
General
Dec 27, 2020 at 09:26
It is very important to sharpen our knowledge. We can't stop learning. Learning is a continuous process. We have to continue it. There is no end of learning. The sad part is most people are unwilling to learn. They look for short cuts.
Most traders are impatient
in
General
Dec 27, 2020 at 09:26
Most traders are impatient and undisciplined. They want to make profit very quickly and that too without proper knowledge and skills. No well defined plan, they just do some random trading. And they are not willing to learn.
How much do you risk in total to make big profits at ago?
in
General
Dec 27, 2020 at 08:11
Most people just want to make money just by entering into the market. They do not try to understand the reality. The reality is it needs time to be a good trader. You have to invest a lot of time and efforts. It is not going to happen just by learning some ready made strategies and a few months demo trading.
Basics knowledge is not enough
in
General
Dec 27, 2020 at 08:10
People take forex trading, the most difficult job lightly. They expect to make money just by entering into the market. Few days demo trading with some ready made strategies available on internet. No risk management, no emotions controlling. At the end they just complain.
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