Feb 17 at 05:01
jasonmark409 posted:MichaelEX posted:
Unnecessary trades is a problem for those who are still struggling with self confidence. This can be solved only with knowledge, practice and experience.
Absolutely and I’ve seen that often traders make the mistake of opening lots of positions in greed or hope to hit the jackpot on some or all of their trades.
When I started trading, I started using the 15 minutes chart believing that more trades would equal more profit. I mean if one can make 2-3% on a trade that lasts for 2-3 weeks, what’s the harm in making the same in 2 hrs? Damn how wrong was I and late to realize that overtrading did nothing but exhaust my funds at a much faster rate.
Feb 17 at 07:53
jasonmark409 posted:MichaelEX posted:
Unnecessary trades is a problem for those who are still struggling with self confidence. This can be solved only with knowledge, practice and experience.
Absolutely and I’ve seen that often traders make the mistake of opening lots of positions in greed or hope to hit the jackpot on some or all of their trades.
Lemme ask you something. Say hypothetically, you’re watching 20 currency pairs and that means just 20 candles to look at each day, how on earth could one expect to be in profit?
Feb 17 at 11:13
Garyneville221 posted:jasonmark409 posted:MichaelEX posted:
Unnecessary trades is a problem for those who are still struggling with self confidence. This can be solved only with knowledge, practice and experience.
Absolutely and I’ve seen that often traders make the mistake of opening lots of positions in greed or hope to hit the jackpot on some or all of their trades.
Lemme ask you something. Say hypothetically, you’re watching 20 currency pairs and that means just 20 candles to look at each day, how on earth could one expect to be in profit?
So firstly trading less isn’t a bad thing. One of the main reasons traders opt for a daily time frame is that it enhances your trading skills. By slowing your trading, you’ll be able to plan things better and much ahead of time and this will eventually help you make better decisions. This is the reason demo practicing is always favored. Brokers like Fxview, XM, and AMarkets are there with platforms where you can practice your trading skills and strategies that’ll include analyzing the currency pairs and market trends
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