Avoid predicting the markets, Rather be reactive.

LeviSievwright5 posted:
Trading is very difficult and to make this difficult thing easy you need proper money management and a trading plan. There may be a loss, but you don't have to go back from that loss, you have to learn from it.

well said i couldn't have said it better

tell me how i can start
please

Yes. If you are a new trader, please don't predica\t the market. Follow the market on how it goes.

Danny2018 posted:
tell me how i can start
please

hi @Danny2018 pls elaborate further as to on what would you like me to help with?

Every trader should do their trading according to the market situation.

SteveHanks posted:
Every trader should do their trading according to the market situation.

Yes. You are right. Market situation never remains same.

Use strategy to make a profit rather than making random trades.

Follow this, understand the current market situation, stay updated with major economic events, set your risk reward ration, check for the best entry price , set SL and TP, place the trade.

It will be necessary to learn to understand in many directions in order to take into account all the points that can somehow affect the course of trading

Proper analysis can help you to predict the future market.

@SofieAndreasen i don't concur , no analysis helps you predict the market but they help you to make your strategies as per previous market movements.

Every trader should have strategy and plan and they should stick to it. It the market situation is not supporting your system, stay away from the market.

Akasuki posted:
Every trader should have strategy and plan and they should stick to it. It the market situation is not supporting your system, stay away from the market.

true that a strategy is needed, for example one can never bet on a horse they dont have any info on

mattieharper posted:
@SofieAndreasen i don't concur , no analysis helps you predict the market but they help you to make your strategies as per previous market movements.

well said there @mattieharper

polyeseter posted:
when i started trading i learnt a few strategies and pair patterns but was still loosing more than i can make, but this was only until i learned to rather react than predict, so i would recite to myself 'reacting is trading and predicting is gambling' keep in mind you must not be emotional about losses,
 what also played a big role in my improvement was to understand that when it is said that about 70% looses their money, for me it was 'out of 10 trades you will loose 7 and win 3 ' so my 3 wins has to bring in more than all 7 loses😄 now this has made trading exciting even more
keep calm and a focused mind wishing y'all a successful trading journey

Good post totally agree

polyeseter posted:

Akasuki posted:
Every trader should have strategy and plan and they should stick to it. It the market situation is not supporting your system, stay away from the market.

true that a strategy is needed, for example one can never bet on a horse they dont have any info on

Proper strategy can make you rich.

I quite agree with you, it sometimes is almost impossible to predict the market and the future price movement, however fir this thing we use technical or fundamental analysis. Everything here is concluded in the theory of possibility and all traders have to understand it. If you know technical analysis on hundred percent it doesn't mean that you will know the future direction of the price of particular assets.
As for the reacting, then of course you should followe the latest news and always be ready for fast changes, for example, if you see that the price goes high and it literally flies to the moon, then yiu should find a moment when open short position, if you will do it on top, then you will definitely close this position in plus.

It's pretty right policy, however avoid predicting the markets sometimes might be harmful for you. You know, trading activity is based on predictions, so basically, you have to predict the future price movement on particular assets. If you will just remain rwactive, then of coursde it might bring you profits, for example, if you see that your asset goes to the moon you can definitely open a position in short, because such movements also are followed by correction to the previous levels. I believe that here everything must be combined, if you will predict the market and react quickly on various changes on the market, then nothing will be able to break you down.

ElliotCooke posted:
Yes. If you are a new trader, please don't predica\t the market. Follow the market on how it goes.

I agree with you. New traders shouldn't predict the market.