How do I trade Forex?

Discussion in 'Forex' started by tradingacct1, Oct 14, 2016.

  1. You need to practice a lot if you wanna become successful, in Forex Trading. Practice makes man perfect.
     
    #141     Feb 23, 2017
  2. If we already put stop loss and target, I think also need keep confidence with these plan, whatever result that will obtained with keep discipline will make easier to evaluation and try again with new setup
     
    #142     Feb 23, 2017
  3. mlawson71

    mlawson71

    No amount of practice will make a trader perfect, but it can help smooth out some rough edges.
     
    #143     Feb 24, 2017
  4. Esha.J

    Esha.J

    For that we need perfect analysis of our trade, while we are going to use SL in trade. There is none going to help for this that just because of wrong SL we miss the profits.
     
    #144     Feb 26, 2017
  5. mlawson71

    mlawson71

    Few people make a perfect analysis though. Errors always happen, for some people more often than others. It's important to take these errors into an account when making one's trading plan.
     
    #145     Feb 26, 2017
  6. I think difficult to always make perfect analysis, but if having good accuracy more than 80% this is already good skill to analyze market, using stop loss is one way to manage these risk due trend market sometime against trades, we can control the risk but can't control the trend market
     
    #146     Feb 27, 2017
  7. mlawson71

    mlawson71

    I wish my analyses had 80% accuracy. During the periods I pass 50% I pat myself on the back.
     
    #147     Feb 27, 2017
  8. Totally disagree, Practice is the only thing that you could do to perfect your trade, with lots of practice you get lots of experience and thus you could earn more money too.
     
    #148     Feb 27, 2017
  9. geedy

    geedy

    You can only reason in this light when things go wrong, but hopefully things wouldn't come to that.
     
    #149     Feb 27, 2017
  10. mlawson71

    mlawson71

    I agree about that. My point was that there will always be errors. No trader trades without loss, that's just not possible, and a person's trading plan should take the possible loss into account. One should absolutely practise as much as possible in order to learn to minimize that loss.
     
    #150     Feb 28, 2017