You don't need to be

You don't need to be correct 100% of the time.If you are correct 50% of the time and have 1:2 risk reward ratio, you will make money here. Problem is we want to be 100% correct and do not want to follow any discipline.

Yes, you are right. It is never possible to keep a 100% profit percentage in trading. For this, we have to work by managing a 1: 2 risk ratio.

True. Risk management is essential in trading as it helps traders to survive in the market.

Yes very difficult to always correct all the time, sometimes we get fail and lose, even more, if get successive loss manual trading can lead emotion arises, now I am trying to use forex robot in my trading on pair EURUSD in my account FXOpen STP, trying to survive account

50% is the average that you have taken as the minimum. Now imagine that there can be 15% of winning trades for a month and then 95% for a month in a row. Their average value will be 55%. This is exactly what happens

Master_Z posted:
50% is the average that you have taken as the minimum. Now imagine that there can be 15% of winning trades for a month and then 95% for a month in a row. Their average value will be 55%. This is exactly what happens

Good calculation. I do a lot of calculations when I make a consistent profit.

It is a very good habit, if you know how to calculate everything correctly and control your every step, I write down a trading plan.

That is true, one can never be 100% true be it trade or life in general. There is risk involved and yes risk gives you rewards.

We do not want to make discipline maintained. If we are trading 1: 2 risk maintain, 50% of possible profits.

Traders don't need to be experts in trading. It is easy to learn to trade only if you are interested.

SofieAndreasen posted:
True. Risk management is essential in trading as it helps traders to survive in the market.

I agree with you. Risk management is very necessary to make money from this market.

Yes, I think so too, a trader can never be 100% correct. There will be some loss percentage but this loss has to be managed with a risk ratio.

@LukeRachel Yes it's the managing the risk that makes a difference between good trader and bad trader. Bad traders are over confident and don't follow any risk management policy. Good traders are the opposite.

Akasuki posted:
@LukeRachel Yes it's the managing the risk that makes a difference between good trader and bad trader. Bad traders are over confident and don't follow any risk management policy. Good traders are the opposite.

The right thinking. There are many conditions to be a successful trader.

RR is no everything but it is important. But be careful not to go too extreme. An RR of 1:10 may sound great but will the price ever reach such a large target

You always need to rationally assess the situation and understand the opportunities that you can get and use.

AliaDare posted:

Akasuki posted:
@LukeRachel Yes it's the managing the risk that makes a difference between good trader and bad trader. Bad traders are over confident and don't follow any risk management policy. Good traders are the opposite.

The right thinking. There are many conditions to be a successful trader.

Thank you, I hope you will help in the future with better information.

You don't need to be genius to make money on forex. There are two groups of forex stereotypes: 1. It's a scam (the most popular), 2. A trader should be super smart in order to make at least some money. Surely, a trader should possess some knowledge and skills but they are much easier to acquire than the knowledge about nuclear physics and Higgs boson. The key thing in trading, from my perspective, is discipline. Even if you don't really understand some economic concepts, but you have a good trading strategy that you can follow, you still have good chances to make decent profits.

The writer of the text is absolutely right by saying that we cannot be 100% correct about the market and all of its movements. It is true that if there is adequate risk reward ratio, there is no need to be 100% right to make forex trading profitable. 50% of success can bring you profits.