agree with u riffster , slowly but sure , stable 5% a month better than 200% a month then colaps
follow your rules consistently
Forex Indicators Collection
This is my second posting... after joining this forum more than 1 years ago..
in my journey in forex trading, most of people who trade in forex market, less of patience, and also greedy. Just made 4-15 % /month you will be enjoy your life in few next year... ( depend on your margin too)...
you may need two kind af acounts, why??
if you fulltime trader,
1, First account is provided to back up your life ( eat, shopping..etc)
2, Second account is managed for your investment.
The question is: how much money do you need for a month?
the result on first account should be enough to cover your monthly life
if so? you wil enjoy to trade in second account.
this is just my opnion..:D
There's one aspect of trading Forex which never fails: The price moves either up or down. That's a fact. So trading up or down will over time theoretically be a break even system. Easy, eh? You can say you're not loosing! Not bad at all since most traders around here are actually losing!
I know that if I was loosing all the time I would be yelling at my broker, yell at someone for trying to sell me a worthless piece of c*** system or be out looking for the next big thing that doesn't exist.
What I have found is that traders make the same mistake most humans do: They think too short term. I've heard people say after three unseasonably cold summer days: "So much for global warming!". There's too many traders with that kind of perspective on things. They can never win.If four trades in a row goes against them they stop and miss the next six they would have won because they are trading a system that wins 60% and looses 40%. It was just that the whole 40% came up front, but the trader will never know because he/she gave up.
I have to admit that I am human also. I keep making this mistake myself. I mostly trade a daily breakout system. This week has been horrible for my EUR trading since the pair hasn't been going anywhere looking at the daily's. It brought me three days of losses. And even if I know the system works long term I couldn't take it anymore and took a break by not setting charts last night. And guess what? I would have had the perfect trade lined up this morning which would have raked in all I've lost this week and more. I hate myself for doing that, but now and then I do. Can't help it!
I do not think the perfect system is one that never fails. I think it's one that presents it's ugly side evenly so it doesn't kill your confidence before you even get to see it's potential!
That was much-adoo-about-nothing. Sorry. Just beat break even and you're golden....literally!
yeah that's the fact.!!!
What pair u usually trade?? for up and down market??
sometimes market break it's own range eurusd range= 110 but sometimes 200 pip range.
how about EurGbp?? its seem like small range.....
i am trading Orion on my clients accounts
i agree with you 100%
the fact remains that once your system fails 4x in a row,it is very difficult to summon the courage to enter the fifth,possible the first winning trade,especially when someone around you is telling you how many wins he has made with his system over the same length of time when your system is busy recording losses.
anyway,experience does take care of all that.
The best trading system is YOU.
Patience, money management and ... D.I.S.C.I.P.L.I.N.E
The best system...
Ask a hundred guys and you'll get a hundred answers.
Greed and fear is your biggest enemy, you need to take care of that first. Sadly, you won't truly know how to deal with that unless you experience watching your live account dwindle.
When one day you don't feel the fear of pulling the trigger when you are supposed to, that's when you are going to start profiting.
From my opinion, there is no trading system can make us in profit all the time.
5% is a trading system
95% is yourself.
Tips to new trader (me also consider as new trader becuase still Junior member in this threat)
what ever strategy you use,
1. Please make sure you know what you are doing.
2. Always have this question, Why, when, which and How
WHY I win, WHY I lost
WHEN to entry, WHEN to exit
WHICH TF, EA can direct me to the top
HOW to trade (time management, money management, my mood)
3. Forex is not just looking on the screen, you must have a paperwork.
write down every single move you made for your future reference and analysis.
Create your own Work instruction (WI). Please follow your WI with no excuse if you want to displine yourself.
4. You must know atleast the basic knowledge for all the original indicator. Not the customize indicator (EA) from expert on this threat.
using demo account
Add digistoch EA and add original stochastic.
Both set the same setting.
analysis and learn how both indicator working.
New trader especially think Forex is a "get quick rich" system are lazy to learn, undestand in deep all the indicator, support and resistance, pivot level and etc how they work. End up they are loosing money.
This is happen to me.
first though "Forex is very easy, just follow all the indicator "ROBOT". end up I loosing my money. because I did not know why, what, when and How to trade.
after learn from mistake, right now I develop my own strategy base on all strategy in these threat Dolly, Isakas, Nina. Only take indicator that I feel comfortable to me.