Dec 04 2015 at 11:02
Pepen_supendi posted:Apipfx posted:JenalAripin posted:Andika_anjani posted:snapdragon1970 posted:breakforex posted:
Learn Good Habits from Good Traders .. this is the fastest way for sure success.
Yes learn from the best you can find
That's why we are here, a place where pros and newbies exist. Shares some thoughts and experiences and let newbies discover it...
Yup, forex communities/forums is a good place for both pros and newbies to share any kind of questions/informations, just like what we're doing here...
Some might get themselves involved in traders community when they're not much active on forums, but that's the same thing...
It depends on the situation. Some might having some peers in their area and create a community that unites them.
Yeah, lots of peers around you would be good. Cuz you can share your trading experiences and organizing something else (trading coaching clinic, trading seminar, etc) with them...
Dec 07 2015 at 13:48
Apipfx posted:Pepen_supendi posted:Apipfx posted:JenalAripin posted:Andika_anjani posted:snapdragon1970 posted:breakforex posted:
Learn Good Habits from Good Traders .. this is the fastest way for sure success.
Yes learn from the best you can find
That's why we are here, a place where pros and newbies exist. Shares some thoughts and experiences and let newbies discover it...
Yup, forex communities/forums is a good place for both pros and newbies to share any kind of questions/informations, just like what we're doing here...
Some might get themselves involved in traders community when they're not much active on forums, but that's the same thing...
It depends on the situation. Some might having some peers in their area and create a community that unites them.
Yeah, lots of peers around you would be good. Cuz you can share your trading experiences and organizing something else (trading coaching clinic, trading seminar, etc) with them...
Just make sure you're entering the right trader community...
Dec 12 2015 at 14:24
The most honest truth about forex trading is you cannot get yourself rich in months or first couple years. Even an experienced one still considering this business as their part time business.
Dec 14 2015 at 14:20
JenalAripin posted:
The most honest truth about forex trading is you cannot get yourself rich in months or first couple years. Even an experienced one still considering this business as their part time business.
And so, full dedication to this business is a must if you're really want to be a profitable trader. The more you invest your time, the more outcome you will get at the end.
Use stop losses religiously and set them realistically.
Most of my losses have been totally preventable had I just used stop losses, exercised a bit of patience, done smaller lots and researched prior to entering the trade.
Most of my losses have been totally preventable had I just used stop losses, exercised a bit of patience, done smaller lots and researched prior to entering the trade.
The Ratchet Trader - mulos@
Interesting to read your thoughts. Found some helpful comments in here. Thanks for sharing
Keep those stop losses tight,it's very difficult to recover from losses and make a profit,your entry point is critical ,you won't always get it 100% right,but as you get more experienced you will get better at it.Dont believe the market will come back eventually,see a small loss as a sign you got in at the wrong time,if the move has already happened don't chase it,wait for a pull back or to hit a resistance area/support area.
"They mistook leverage with genius".
Dec 17 2015 at 17:20
snapdragon1970 posted:this is factually not correct. keeping a tight sl will more often than not whip you out. it is finding the RIGHT sl, whether it be exiting on retrace, equity sl, hedge, hard stop, it will depend on the conditions and pair. Youre entry point is not critical, this is very noob thinking, it is your exit which is critical as this will shape how your equity curve goes, your expectancy, RR, etc. you can literally if you know the sentiment , enter at random. This is why there are so many online forex courses and 'education' packs, because people buy into the idea that there is some secret method that will give you this edge based on series of patterns.
Keep those stop losses tight,it's very difficult to recover from losses and make a profit,your entry point is critical ,you won't always get it 100% right,but as you get more experienced you will get better at it.Dont believe the market will come back eventually,see a small loss as a sign you got in at the wrong time,if the move has already happened don't chase it,wait for a pull back or to hit a resistance area/support area.
Factually not correct,according to you,no one else.Don't you like making maximum profit?,that's why entry is so important.Your stop loss does not change according to conditions or what pair your trading.If you cant stick to basic rules,go find some other amusement. Enter at random,that must be a new concept,I have never heard of this idea except warren buffett,have you got the same deep pockets he has?I did my course with ex chief dealer of a bank,not online....
"They mistook leverage with genius".
Dec 17 2015 at 18:24
snapdragon1970 posted:
Factually not correct,according to you,no one else.Don't you like making maximum profit?,that's why entry is so important.Your stop loss does not change according to conditions or what pair your trading.If you cant stick to basic rules,go find some other amusement. Enter at random,that must be a new concept,I have never heard of this idea except warren buffett,have you got the same deep pockets he has?I did my course with ex chief dealer of a bank,not online....
No according to Larry Connors in his book, Short Term Trading Strategies That Work, this author ran tests to quantify the most optimal stop loss and in the end simply concluded that : '...no matter where the stop is placed, it hurt performance. The tighter the stop, the worse the performance. Amazingly, even stops as far as 50% away hurt the performance!'
To me, it is not about maximum profit but the risk I am exposed to. Here is a post showing that a random entry can in fact be profitable over the long term and entry is NOT important as is exit : https://forums.babypips.com/newbie-island/52662-real-trading-edge-quantified-trading-stop-management.html.
