5 Things I have learned in 5 years of trading!
Member Since Jul 20, 2020
399 posts
Sep 19, 2022 at 16:08
Jacnum posted:
Well said. Here are the 5 things I learned -
1. Underestimating trading psychology will only lead to bad outcomes.
2. Use leverage only when you are confident of your strategy making profits
3. A bigger stop loss can increase your chances of profit
4. Maintaining consistency does not mean forcing yourself to trade
5. Take breaks once in a while if you feel too stressed out
Id be careful of bigger stop losses it can also affect your risk to reward and leave you in the market longer than you need to be
Member Since Aug 05, 2021
401 posts
Sep 22, 2022 at 00:12
Jacnum posted:
5. Take breaks once in a while if you feel too stressed out
This one has been helping me a lot lately. Even just a 5 minute break makes a big difference when you're stressed and not thinking in the right mindset. Wish I would have realized that sooner rather than later!
Member Since Jul 20, 2020
399 posts
Sep 25, 2022 at 15:12
Bannock posted:
You may profit from the forex market if you follow the trading rules and tactics correctly and have a good trading plan. Aim just for a realistic profit; do not be greedy. This will help you become a skilled trader and, at the same time, will help you receive a steady return. Many people lose money in the forex market because of greed. Risk management in forex trading is necessary; however, your success depends on trading approach, emotional stability, and risk-taking prowess.
This is so key its small realistic profits but once we do that and compound. It will really show the power of trading and change your life
Member Since Apr 09, 2019
538 posts
Sep 29, 2022 at 09:27
Exactly, get those small consistent gains on a regular basis, show that you can and acquire capital and then rinse and repeat.
If you can't spot the liquidity then you are the liquidity.
Member Since Jul 20, 2020
399 posts
Oct 17, 2022 at 15:51
Juggerrnaut posted:
Thank you for sharing your valuable piece of information. One more important thing that I have learned in my few years of trading is that the execution of a trade can efficiently increase your chances of making a profit, rather than the original win-rate of your strategy.
Absolutely agree. Its important to have the right entry to give the right risk to reward
Member Since Jan 13, 2021
52 posts
Oct 23, 2022 at 19:37
I saw an interesting chart based on percentages of wins and your usual r:r ratio, letting you know what it needs to be. Will see if I can find it and share
Oct 25, 2022 at 07:46
SteveFx11 posted:Yes, forecasting by analyzing the market is required. We must remember it is a game of probability. Thus, risk management is important.
Different traders have different ways of trading but pure forecasting of the market is required in all of the cases.
Oct 30, 2022 at 20:22
sharabela posted:Analysing is the best word in this case. Forecasting is for the weather. 😂SteveFx11 posted:Yes, forecasting by analyzing the market is required. We must remember it is a game of probability. Thus, risk management is important.
Different traders have different ways of trading but pure forecasting of the market is required in all of the cases.
momchil_slavov@
Member Since Jan 20, 2022
31 posts
Nov 07, 2022 at 05:47
This particular question makes me perplexed to choose only 5, as all traders have a lot to share. Some of them are-
• Trading demands a calm and cool mind with a determined heart full of patience.
• A broker is not mandatory in trading.
• Never trust blindly the 'trading masters' of social media platforms.
• In trading one has to be a receptive student or learner first, then they may be a successful trader.
• Trading is not the supernatural element that can make you rich within a day.
• Trading demands a calm and cool mind with a determined heart full of patience.
• A broker is not mandatory in trading.
• Never trust blindly the 'trading masters' of social media platforms.
• In trading one has to be a receptive student or learner first, then they may be a successful trader.
• Trading is not the supernatural element that can make you rich within a day.
Member Since Jul 20, 2020
399 posts
Nov 07, 2022 at 18:24
ceceliagreerr posted:
This particular question makes me perplexed to choose only 5, as all traders have a lot to share. Some of them are-
• Trading demands a calm and cool mind with a determined heart full of patience.
• A broker is not mandatory in trading.
• Never trust blindly the 'trading masters' of social media platforms.
• In trading one has to be a receptive student or learner first, then they may be a successful trader.
• Trading is not the supernatural element that can make you rich within a day.
Broker is definitely an important factor in trading. You need a reliable and trustworthy one to do any type of serious trading
Nov 08, 2022 at 05:38
Many traders analyze the market wrongly that results in massive loss. After analyzing the market, match your analyzed result with others so you can be cleared about its authenticity. In our traders, technical analysis is mostly preferred.
Member Since Jul 20, 2020
399 posts
Nov 24, 2022 at 18:13
Marcolis posted:
Many traders analyze the market wrongly that results in massive loss. After analyzing the market, match your analyzed result with others so you can be cleared about its authenticity. In our traders, technical analysis is mostly preferred.
Massive loses shouldnt occur if people have a proper trading plan
Dec 23, 2022 at 09:25
Fandango posted:That’s very true! Traders should be able to turn a situation to their advantage by using their wit and skill to analyse potential future profit goals. It’s better to look at the bigger picture, always.
It’s not just your basic learning that helps you make money but also the lessons that you learn while trading and after making mistakes. Don’t depend on what you have done in the past and focus on what you can do in the future and how you can take advantage of every changing market condition.
Member Since Aug 05, 2021
401 posts
Dec 26, 2022 at 15:23
Fandango posted:I think experience from trading over time is invaluable and certainly helps us to make better decisions in different conditions as we grow as traders.
It’s not just your basic learning that helps you make money but also the lessons that you learn while trading and after making mistakes. Don’t depend on what you have done in the past and focus on what you can do in the future and how you can take advantage of every changing market condition.
Dec 29, 2022 at 11:51
Vomitoryy posted:I agree that experience is crucial. Start practising on a demo account to build your confidence so you won't feel lost when trading with real money. Since you initially lose money before gaining momentum and steadily moving toward success, it is very simple to stop trading forex. Trading is the only way to gain experience, so you have to jump in and start trading. You will lose some trades and win some, but eventually you will learn and start making money.
Learning is crucial. But experience adds even more to that learning, as experience makes you go through various successes and losses that make you a successful trader.
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