Ultimately, traders are attempting to forecast the future, and in my opinion, when it comes to trading, skills and experience are more important than luck. Luck rarely happens, so it is important for you to back up on your trading with skill and knowledge which can last forever.
Hedging always keeps a trader in a dilemma so I always suggest traders not to follow this technique. This technical can only be adopted when a trader falls in a trouble due to an uncertain movement of the market. Personally, I don’t like hedging and many traders find interest in this type of trading.
RobertFerrari posted: Hedging always keeps a trader in a dilemma so I always suggest traders not to follow this technique. This technical can only be adopted when a trader falls in a trouble due to an uncertain movement of the market. Personally, I don’t like hedging and many traders find interest in this type of One thing I have never done in years of trading is hedging, I hate that.
There was a client that asked me to trade account of 15k for him, on logging in, I saw a terrific hedging, I simply told him he will have to close those pisitions and move the left funds to new account before i start providing trades, I hate anything hedging..
Making a strategy is the result of persistence, perseverance and hard work. Use a strategy for a long time to prove whether it works well or not. A well-defined and profitable strategy can help you quench all your demands.
I can’t deny that luck has no role to play in your trading career. It may work sometimes but most of the time, it’s your hard work that will give you results. So, work on improving yourself and don’t do anything that you don’t understand.
I remember a famous dialogue by Guy-Sensei’s teacher of Lee - “Hard work and dedication are very important to determine success, but sometimes luck is a big factor too.” I agree to this many times. We trade forex by thoroughly analysing the price chart actions and carefully applying risk management. But even after doing so, and trading with the strategy we have 100% confidence in, it still fails sometimes. This can happen because of the unforeseen market movements. We cannot do anything against the market’s unpredictability, but stay consistent with our strategy.