Following other's trade ideas
Sep 19, 2020 at 13:51
Vistas 986
15 Replies
Sep 19, 2020 at 13:51
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
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
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
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 😁
Miembro desde Jul 20, 2020
posts 341
Sep 22, 2020 at 20:17
I think following others' ideas is not a good decision. Because every trader has some different tactics to win the trade. Others' tactics may not suit you and you can lose all your money.
Sep 23, 2020 at 00:42
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
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
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?
Miembro desde Jul 19, 2020
posts 318
Sep 25, 2020 at 19:02
I don't think it is a good idea. Because every trader doesn't have the same knowledge and experience in this market.
Oct 08, 2020 at 00:09
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.
Miembro desde Jul 23, 2020
posts 869
Oct 17, 2020 at 17:21
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.
Miembro desde Oct 26, 2020
posts 29
Oct 27, 2020 at 10:44
I think that it depends on the trader. Some find it useful to trade using others’ ideas while some don’t.
Miembro desde Aug 24, 2020
posts 13
Oct 27, 2020 at 12:13
I think it is ok to a point, I would use his\her\binary ideas and then mold into my trading style.
Be more financially free then yesterday.
Oct 30, 2020 at 10:31
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
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.
Miembro desde Oct 12, 2020
posts 38
Nov 20, 2020 at 06:43
For different people, trading comes differently. It is up to you what your financial goals are and trade accordingly.
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