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

richadi36
Oct 23 2015 at 16:42
18 postów
sizhouren posted:
Guys i have changed my strategy from taking profit of risk reward of 1:3 to only 1:1.5. Do you guys think it will be more profitable in the long run as i have noticed a lot of trades which should have taken profit at 1:1.5 but beacause i let it run till 1:3, ,most of them have reversed resulting in only small profit. What do you think guys? please let me know, thank you.


In what timeframe are you working? I think risk reward ratio depends on the timeframes you're working. If you are in big timeframes like H4 and D1 you can be sure taking min 1:2 and more risk reward, especially from key sup/resistant levels.

Constant Stable Monthly Account Growth Makes You Successful
kieran (snapdragon1970)
Oct 24 2015 at 09:10
1945 postów
I'm working on the one hour and 4 hour to see if there is a trend or range forming,then I look at the 15 min time frame to get an entry ,I wait for the shakeout then enter the trade or the pullback in an upward trend ,I only trade the 1 min time frame when scalping ,most of those trades last one min.

Be lucky.

"They mistook leverage with genius".
richadi36
Oct 25 2015 at 07:28
18 postów
snapdragon1970 posted:
sizhouren posted:
Guys do you think it's possible to earn 8 figure income from forex trading??? or it's simply not possible i have never seen such an account before.


Depends on your account size starting off,if your consistent and compounding each year,it's possible.


Be lucky!


Of course possible. But I am not sure monthly, if you want monthly you should go to hedge funds. But annually, I think, to earn 8 figure income it is possible. Open a PAMM account, show you are consistent profitable trader more than a year, and then investors find you for themselves.

Constant Stable Monthly Account Growth Makes You Successful
Apip Saepudin (Apipfx)
Oct 26 2015 at 07:13
13 postów
Most of the new traders haste themselves to reach big profit without any proper training in trading. That's why they were just depending on their luck when they're trading.

Michael Bai (michaelbai)
Oct 26 2015 at 11:30
33 postów
Apipfx posted:
Most of the new traders haste themselves to reach big profit without any proper training in trading. That's why they were just depending on their luck when they're trading.


I could not agree more! To add to it, when traders act in this manner, they report their brokers or loose faith in the market due to their gambling/uneducated losses.

Gennnady
Oct 26 2015 at 11:52
1 postów
BenNathanFX posted:

Without Fundamentals you are gambling... trading on the CHANCE that a pattern if traded enough will eventually win....



There are tons of different approaches for making profits on financial markets and stating that one thing is gambling and the other thing is THE THING is arrogant. If you are making a living with fundamentals, good for you but it doesn't mean you can't be profitable with technicals or algorithms or whatever. Everyone chooses a strategy according to his mindset.

You refer to Wall Street traders who have to support their trades with fundamentals only because they are trading not with their personal money, of course they need solid reasoning for every trade they make. That and for backing up the myth that only geniuses can work on Wall Street.

Jaco Ferreira (JacoAF)
Oct 26 2015 at 12:03
130 postów
Gennnady posted:
BenNathanFX posted:

Without Fundamentals you are gambling... trading on the CHANCE that a pattern if traded enough will eventually win....



There are tons of different approaches for making profits on financial markets and stating that one thing is gambling and the other thing is THE THING is arrogant. If you are making a living with fundamentals, good for you but it doesn't mean you can't be profitable with technicals or algorithms or whatever. Everyone chooses a strategy according to his mindset.

You refer to Wall Street traders who have to support their trades with fundamentals only because they are trading not with their personal money, of course they need solid reasoning for every trade they make. That and for backing up the myth that only geniuses can work on Wall Street.


I agree 100%, Fundamentals is NOT the only way to trade... Technical Analysis, Chart Patterns and Price Action can also be used. Ideally you would want to combine them all together to give yourself the best chance of getting in on a good trade with market follow-through that will generate a descent profit.

I personally think if you understand how Price Action works and you understand the fundamental drivers behind market participants, you stand the best chance of making good profits. Where most traders fail, is not with using Fundamentals, Technicals or Price Action. I think it has more to do with a lack of Education, Experience, Discipline and Risk/Money Management. Without the basics in place a trader will always be guessing and 'gambling', no matter if he/she is a Fundamental and/or Technical trader.

Keep it simple, be disciplined, get rich slowly and above all protect your equity!
kieran (snapdragon1970)
Oct 26 2015 at 12:38
1945 postów
JacoAF posted:
Gennnady posted:
BenNathanFX posted:

Without Fundamentals you are gambling... trading on the CHANCE that a pattern if traded enough will eventually win....



There are tons of different approaches for making profits on financial markets and stating that one thing is gambling and the other thing is THE THING is arrogant. If you are making a living with fundamentals, good for you but it doesn't mean you can't be profitable with technicals or algorithms or whatever. Everyone chooses a strategy according to his mindset.

You refer to Wall Street traders who have to support their trades with fundamentals only because they are trading not with their personal money, of course they need solid reasoning for every trade they make. That and for backing up the myth that only geniuses can work on Wall Street.




I agree 100%, Fundamentals is NOT the only way to trade... Technical Analysis, Chart Patterns and Price Action can also be used. Ideally you would want to combine them all together to give yourself the best chance of getting in on a good trade with market follow-through that will generate a descent profit.

I personally think if you understand how Price Action works and you understand the fundamental drivers behind market participants, you stand the best chance of making good profits. Where most traders fail, is not with using Fundamentals, Technicals or Price Action. I think it has more to do with a lack of Education, Experience, Discipline and Risk/Money Management. Without the basics in place a trader will always be guessing and 'gambling', no matter if he/she is a Fundamental and/or Technical trader.



Your right ,although sometimes the market doesn't always work in a logical way ,then it corrects it's self.

"They mistook leverage with genius".
Samsu_samsul
Oct 27 2015 at 07:22
10 postów
JacoAF posted:
Gennnady posted:
BenNathanFX posted:

Without Fundamentals you are gambling... trading on the CHANCE that a pattern if traded enough will eventually win....



There are tons of different approaches for making profits on financial markets and stating that one thing is gambling and the other thing is THE THING is arrogant. If you are making a living with fundamentals, good for you but it doesn't mean you can't be profitable with technicals or algorithms or whatever. Everyone chooses a strategy according to his mindset.

You refer to Wall Street traders who have to support their trades with fundamentals only because they are trading not with their personal money, of course they need solid reasoning for every trade they make. That and for backing up the myth that only geniuses can work on Wall Street.


I agree 100%, Fundamentals is NOT the only way to trade... Technical Analysis, Chart Patterns and Price Action can also be used. Ideally you would want to combine them all together to give yourself the best chance of getting in on a good trade with market follow-through that will generate a descent profit.

I personally think if you understand how Price Action works and you understand the fundamental drivers behind market participants, you stand the best chance of making good profits. Where most traders fail, is not with using Fundamentals, Technicals or Price Action. I think it has more to do with a lack of Education, Experience, Discipline and Risk/Money Management. Without the basics in place a trader will always be guessing and 'gambling', no matter if he/she is a Fundamental and/or Technical trader.


Both fundamentals and technical are important. Fundamental answers your 'why it happened?' and technical answers your 'when to execute?' Most of the traders using technical and less worrying about fundamentals...

cedtrading
Jul 14 2016 at 12:51
46 postów
hi

i dont use fondamental but i use statistic in my trading , and bieleve me or not but it is working very well, fondamental is good for peoples who have comfortable account....


regards


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