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The reason that new traders fail that doesn't involve psychology

CrazyTraderfx (CrazyTrader)
Apr 19 2015 at 19:24
1718 ieraksti
You can use caps if you want lol.

You guys are always saying things without any proofs.

Show me any live account with leverage below 1:10 that fails... then I may think leverage isn't the only one reason. (Yes I may think because 1;10 it's still a leverage!!!

FxProfit1
Apr 20 2015 at 06:44
6 ieraksti
I can also recommend RANSQUAWK here, using it with great success you just get instant news before anyone else so even if you are the best technical trader there is you still can make more money if you know what the big guys and they all use Bloomberg, do.

One good example was the surprise cut from Riksbank. The guy at Ransquawk was shouting in the mic and in 3 secs I had sold SEK for a huge profit just at the begin of the spike ...


You have to become one with the market
Pureprofitfx (TeddyRevi)
Apr 20 2015 at 06:47
11 ieraksti
I think the leverage is just a fake objection and with 1:10 leverage it can be good, but also bad for beginners😎

Run after the system not for the profit!
Ben Nathan (BenNathanFX)
Apr 20 2015 at 07:17
137 ieraksti
FxProfit1 posted:
I can also recommend RANSQUAWK here, using it with great success you just get instant news before anyone else so even if you are the best technical trader there is you still can make more money if you know what the big guys and they all use Bloomberg, do.

One good example was the surprise cut from Riksbank. The guy at Ransquawk was shouting in the mic and in 3 secs I had sold SEK for a huge profit just at the begin of the spike ...



I second this - i use RS to build my fundamental picture. I agree with this whole statement actually - nicely put indeed

HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
Varkeer
Apr 26 2015 at 12:25
5 ieraksti
How long do you wait to act on or let a recent news article that is relevant to your trade affect your position?

Pureprofitfx (TeddyRevi)
Apr 26 2015 at 15:24
11 ieraksti
The answer to this question is not relevant for your outcome or profit. It depends on the volatility, impact of the news, type of trade and so on.

Run after the system not for the profit!
Jaco Ferreira (JacoAF)
Apr 26 2015 at 17:05
130 ieraksti
Some interesting views here...

I always thought that the primary reason most traders (the 90%) fail is simply due to human emotions like Fear (too scared to enter a trade), Greed (wanting more profit or holding on to losing trades), Doubt (exiting too soon after entering), Anger/Revenge (revenge trading out of anger after losses), hope (holding onto loosing trades hoping the market will turn), incompetence (not knowing what you are doing due to a lack of training and experience).... etc.

I am a technical trader, but I do believe that fundamentals play a part in what drives the markets. So it makes sense to keep tabs on fundamentals so that you can determine if there will be follow-through after that 'break' you are waiting for. But I must admit, I don't place a huge emphasis on fundamentals by itself. Now don't get me wrong, I am not an 'indicator-trader' or 'systems-trader'). Tried them and found them to be rubbish in itself. I use old-school Price-action, Support & Resistance and Fib-levels to trade, and use fundamentals as a guideline to determine the bias and direction - the 'emotion' of the market participants.

So far my simple method has served me well. I am not going to be a millionaire overnight, but I sure am slowly working towards it.

So my point simply is this. No matter what you trade (Forex, Stocks, Options... etc.) or how you trade (manual trader, automated trading, investing, etc.), human emotion is still the basic force that drives our trading decisions. Oh and please don't start telling me EA traders don't feel emotion.... try running your EA on a live account and then tell me you don't still feel fear, greed, doubt or any of the usual emotions... been there, done that.... still emotions. Learn how to control your trading emotions, and you will soon become profitable....

Just my opinion...

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
CrazyTraderfx (CrazyTrader)
Apr 26 2015 at 17:45
1718 ieraksti
JacoAF posted:
try running your EA on a live account and then tell me you don't still feel fear, greed, doubt or any of the usual emotions... been there, done that.... still emotions. Learn how to control your trading emotions, and you will soon become profitable....


Basically if you keep feeling emotions while account is run by EA... that means you are staring at screen. EA is supposed to run by itself so why don't you stop to look at the account? So if you are confident with your EA, there is no need to look at open trades every 5 minutes... therefore, EA avoids emotions only if it is well used.

CrazyTraderfx (CrazyTrader)
Apr 26 2015 at 19:53
1718 ieraksti
Pureprofitfx (TeddyRevi)
Apr 27 2015 at 06:44
11 ieraksti
Emotional management means almost everything in every domain, especially in trading.
Emotions like greed and fear are the worst and these can be managed. These emotions will never disappear, we have to live with them and control them.

Run after the system not for the profit!
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