Money Management playing important role in forex . but usually the problem is people get swallown by their own greedness. that's why most trader failed
:) that's a half of truth in my opinion. The Greed is not walking alone. It's always walking with it's brother Fear. One moment you are consumed by greed and once you have something to lose, the fear kicks in. Then there is also Regret, if your fears allow you to close a winning trade too soon or usally right before a major move in your favor. There is also Anger, usally after you missed that Big_And_Only opportunity to earn few hundreds pips and you know there will be no other chance EVER!
Some beginners also commit themself to gambling rather than trading - the big exciting We_will_see_what_will_happen game.
And the story is the same from one man to another as long as markets exist.
I have no idea. I just saw a banner here at the right side and I am curious about what it could be. I did some googling and find out tons of "testimonials" and photos of happy ppl, half-naked women on the beach etc
-pta-
then how about you ?? have you submited to get details about what is that ?
Is the system have relationship about forex ? maybe like a robot trading ?
Imagine you have heard a news which give big clue about movement some pair in forex, and in your analyze the movement is predictable. Will you use 1:500 leverage to get more profits ??
Fear, Anger, and the Greedy is the part of mind which any trader must try to have prevent for that's. Maybe you have good strategy or plan to make you money grow in forex market, but if one of them has annoying you, So, maybe the better way is shutdown your PC.
Because Fear, anger, and greedy can make you get the unnecessary failure from forex.
Bulls makes money, Bear makes money, but pig get slaughtered
Good point Alizain. I usually take the day off if I reach some targets in the morning. I'm never tempted to try and get some more pips lest I make some wrong moves and give my hard earned profits back to the market.
Capital Preservation, or knowing when NOT to trade is very important!
Imagine you have heard a news which give big clue about movement some pair in forex, and in your analyze the movement is predictable. Will you use 1:500 leverage to get more profits ??
No Alizian, I will not take bigger position (higher volume) than the money-management allows me. Because the market is not predictable. That's what I learned so far :)
Good point Alizain. I usually take the day off if I reach some targets in the morning. I'm never tempted to try and get some more pips lest I make some wrong moves and give my hard earned profits back to the market.
Capital Preservation, or knowing when NOT to trade is very important!
Well Reb, that's what Im constantly realizing about trading. It's the art to know when not trade. And that's why I want to be more selective, that's why Im learning how to plan a trade.
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Because Fear, anger, and greedy can make you get the unnecessary failure from forex.
Bulls makes money, Bear makes money, but pig get slaughtered
Knowing where your weaknesses are is necessary to be successfull. For example, I know that I tend to gambling after some adverse event. Therefore Im training myself to accept the reality and move on. It is a tough school for me, but I like it, because Im working with my innermost tendencies and I can see how it affects every aspect of my life. It could sound like a paradox, but trading makes me a better human being
Yes, i think using robo trading is dangerous.
because the machine is don't have a brain, then it can give more loss to trader. Learning is better than using automatic sytem to trade in forex market.
Who ever use robo trading there ?
Yes, i think using robo trading is dangerous.
because the machine is don't have a brain, then it can give more loss to trader. Learning is better than using automatic sytem to trade in forex market.
Who ever use robo trading there ?
They are dangerous. I think I'm going to lose my micro account today. A friend of mine gave me an EA in beta to test for him and I put it on my live micro instead of demo by accident. Before I realised my mistake this crazy EA had opened 18 longs on eur/gbp. Still, to make good out of bad I have closed the EA and set a target on all 18 trades which if hit, will double the account. If not, I will lose $130 on micro lol. Oh well...
. but usually the problem is people get swallown by their own greedness. that's why most trader failed
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