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Following other's trade ideas
Sep 19, 2020 at 13:51
Membro Desde Jul 19, 2020
751 posts
I do not think that it is a good idea to follow others trading idea. It makes us confused. And sometimes greedy also which is very bad for trading. The best idea is to find out what suits you. Which type of trading is best for you. Then make a strategy that suits with your trading personality. Forex is a long term business. So we can't stay long by following others.
Sep 20, 2020 at 07:23
Membro Desde Jul 19, 2020
298 posts
You are absolutely right. When I try to focus what others are saying about market. I loss my judgement. If their opinions is against mine, I can not stick to my own decision. As a result many times I lose money. Now I have stopped listening others.
Sep 21, 2020 at 07:16
Membro Desde Aug 28, 2020
15 posts
Watching other's trades to get an idea of how things are done and for learning purposes, that is fine. But if one starts to rely only on other's trades and makes no use of his/her own ideas and concepts, then such trading is of no use. Sooner or later, such traders exit forex trading.
Sep 22, 2020 at 08:49
Membro Desde Feb 07, 2020
41 posts
In my opinion, do not follow the trading ideas of other brokers just take a reference from them that how he trades, in which conditions, at what time frame, which trade size, leverage, etc. and try them on demo and then change it according to your strategy and idea and maybe you get good results it's like referring for a project from Wikipedia 😁
Membro Desde Jul 20, 2020
341 posts
Sep 23, 2020 at 00:42
Membro Desde Jul 19, 2020
788 posts
It is very important to believe in yourself in trading. When one rejects one's analysis and looks at the analysis of others, there is no satisfaction in trading. Greed can often lead to losses in trading. Greed destroys trading careers. So always trade from positive to believing in your analysis.
Sep 24, 2020 at 06:31
Membro Desde Apr 15, 2020
219 posts
Blindly following trade ideas is of no use, but yes using them to analyse the trend can definitely help. as a beginner you can use them for learning but ultimately build you own strategies to check for trade ideas.
The more your practice, the more you learn.
Sep 25, 2020 at 08:10
Membro Desde Sep 24, 2020
17 posts
UweMoench posted:
I do not think that it is a good idea to follow others trading idea. It makes us confused. And sometimes greedy also which is very bad for trading. The best idea is to find out what suits you. Which type of trading is best for you. Then make a strategy that suits with your trading personality. Forex is a long term business. So we can't stay long by following others.
I want to ask one question. tell me how do you find your trading idea without contacting other traders and try different trading ways?
i don't agree with you that we can't stay long by following others. market is always change. and you have to find othertrading ideas.
so why dont following others while that?
Membro Desde Jul 19, 2020
318 posts
Oct 08, 2020 at 00:09
Membro Desde Jul 19, 2020
788 posts
It is very important to believe in your analysis in trading. Many traders can do good analysis but rely on the analysis of others due to a lack of confidence. The next observation was that his analysis was good. So it is very important to build confidence in your trading analysis.
Membro Desde Jul 23, 2020
869 posts
Oct 17, 2020 at 17:21
Membro Desde Jul 23, 2020
869 posts
GeorgeBischof posted:Every person is different as well as their preference. They create their strategy with their own preference which might not work for other trader.
I don't think it is a good idea. Because every trader doesn't have the same knowledge and experience in this market.
Membro Desde Oct 26, 2020
29 posts
Membro Desde Aug 24, 2020
13 posts
Oct 30, 2020 at 10:31
Membro Desde Sep 29, 2019
26 posts
Copying another traders trading plan is an effective way for a person that a busy schedule to take for trading and make sure that they make money even though they do a lot of work. ti makes things easier and gives you time to focus on other things. It is not recommend though.
Oct 30, 2020 at 12:24
Membro Desde May 21, 2020
18 posts
Following other trades trade idea is only effective if you are not a beginner. If you are a beginner and you want to copy trade then you are going to miss it a lot of things and the chances of you making it big in forex is very small because you don't ever fully understand what you're doing.
Membro Desde Oct 12, 2020
38 posts
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