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Arrogant advice

togr (togr)
Jun 07 2019 at 10:07
4862 ieraksti
momo3HC posted:
I don`t really find the reason for this thread.


Well the advice is meant to protect your funds.
You might find it useful once you face trading loss

momo3HC
Jun 15 2019 at 12:56
164 ieraksti
togr posted:
momo3HC posted:
I don`t really find the reason for this thread.


Well the advice is meant to protect your funds.
You might find it useful once you face trading loss


If you say so - OK. No hard feelings. And yes, I`ve faced trading loses.

Felhagamand
Jun 20 2019 at 06:09
25 ieraksti
Its true that there are many failures in the forex market, just as is it true that there are people who find the market to be a gold mine and actually make a living out of trading. The problem with us traders is that we want to be rich too quickly and ignore the basics that we should learn in order to be successful. Just be diciplined and you'll be among the few winners

togr (togr)
Jun 20 2019 at 07:53
4862 ieraksti
Felhagamand posted:
Its true that there are many failures in the forex market, just as is it true that there are people who find the market to be a gold mine and actually make a living out of trading. The problem with us traders is that we want to be rich too quickly and ignore the basics that we should learn in order to be successful. Just be diciplined and you'll be among the few winners


The problem is that only 5% of traders find the market to be a gold mine and actually make a living out of trading

togr (togr)
Jun 20 2019 at 11:09
4862 ieraksti
Damien1881 posted:
Easy way to NOT be a part of the 95%.
Look at the traders sentiment on this site and do the opposite, I just checked my own trades and have gone against the majority, do the opposite to everything the Gurus teach and you can make it work.


So how's that come Damien you lost 93% of your real account

togr (togr)
Jun 20 2019 at 11:10
4862 ieraksti
TheSlyFox posted:
That statistic is also false and taken out of context, I love when people throw that around, 95% of NEW traders lose money in their first year, and nearly 100% of traders blow their first account, but in context (overall) In a study done of all active accounts from US brokers, approximately 38-40% of traders make money, now while it is true the majority of DAYTRADERS lose money through the course of the year, due to staring at charts all day which causes them to make silly decisions, many many swing traders are profitable. The fact is, you have to do research behind that statistic before you through it around as an absolute truth, if you want to use forex as a full time income, it is far easier to do it as a swing trader, then a day trader, and making 8% a month isn't very hard to achieve (not every month of course, summers have lower volatility and the second half of december you should just take off from holidays) but as long as you adopt the slow and grow approach, make no more then 2 trades a day, and never have more then 4 trades running at a time (preferably no more then 2 running at a time so you are able to properly monitor and manage the trades) then you will be fine. Another statistic is among all retail traders, 60% of all trades make money, and 40% lose money, if everyone used proper risk management, everyone would make money, of course there will always be imbalance as more traders have to lose then win so that people are able to make profits, but you get my point I assume, just as if you dont


@Fox
you should have used my advice
Name
Gain
Drawdown
Pips
Trading
Leverage
Type
EW theory
-75.43%
92.68%
-739.5
-
1:50
Real

EmilioV
Jul 01 2019 at 10:13
11 ieraksti
EW theory. Is that Elliot wave? Does that really work? I have tried using it a few times but it is so subjective

Professional4X
Jul 02 2019 at 06:55
1189 ieraksti
EmilioV posted:
EW theory. Is that Elliot wave? Does that really work? I have tried using it a few times but it is so subjective


Elliot Wave, Wolfe Wave, Gann Theory, Fractals, etc...

These are just tools.

It's up to the trader to determine if they actually work appropriately for their specific trading strategy.




If it looks too good to be true, it's probably a scam! Let the buyer beware.
Bansheedo
Jul 03 2019 at 10:07
10 ieraksti
I thought that 'Elliot Wave, Wolfe Wave, Gann Theory' are strategies? Please correct me if I am wrong

45656
Jul 04 2019 at 11:26
65 ieraksti
Being a risky market place, a trader can expect to protect his assets against the hazards of trading. That’s why a trader must try to bestow attention on appropriate risk and fund administration which will allow him successful function of money in all necessary channels here. For the traders it is indispensible to work with right trading methods and approaches that will facilitate proper use of capital by managing risks within his capacities.

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