Search results

Now FX Merge are working on the preparation of a new free Risk Reward tool and it will be available in a few days. Good news!

The video offers some good points, but I do not agree that it is all about IQ either

I think the most important thing is not to think about it that way - the market is there and it is you that needs to tackle it, in the best possible way you can. The market is like a huge tunnel where you do not really know what you are going to find in it and yet you set yourself up to deal...

Yes, so true! But you cannot give up on dreams, you need to keep working.

No of course not - you need to evaluate why the loss happened so as to improve in your decisions in the future trades

When I checked out MT5 I was a bit overwhelmed by it, and found it to be quite complicated.

Thank you for sharing this. It works well.

Yes I think your strategy is a good option as diversification helps to spread out and reduce losses focused on a single option.

While diversification can help you spread risks, I think that you cannot overdo it either as then you will fail to concentrate properly.

Risk is the level of probable losses you can make when you trade. There is always a possibility as you can never be completely certain of outcomes. But risk management is very important as while you cannot remove risk altogether you can contorl it and deal with it as best as you can. SO for...

This is very true and I understand what you are saying here as it often happened to me. I think I am going to spend just half an hour max, and then I end up spending more, checking here and reading there... Well I think at the end of the day you cannot really manage time as you need to feel...

There are various important elements, such as risk management, position management, how you want to go for trade identification and subsequently trade management, any entry and exit methodologies you deem fit.

It was fun to read some of the proverbs mentioned here - my favourite one is trade with the trend as it basically encapsulates all that trading is.

Risk for me means the possibility of losing - but I also see it as a normal part of trading and while it is not nice, you need to accept it and work against it mentally and trhough your careful analyses.

What can be discouraging is the possible loss. However that is normal, and you can counter it by preparing yourself mentally for the possbility as well as by establishing yourself well in the field through learning and a lot of analysis prior to making certain decisions. You also need to be...

Yes and sadly you find some traders who think it is doable within a couple of weeks, or even days. I sometimes read comments that make me wonder how many try out their luck in forex purely as if they were gambling. In truth it is a serious business which needs a lot of patience and work.

Starting out on a demo account it the best thing to do as a beginner in forex. It helps you get used to how things work, and at the same timeyou are not risking actual real money. You also get more trained from a psychological point of view to a certain extent. Obviosuly you are not going to...

Yes, you're right. Forecasting is important, and you need to consider several things i n order to try to be precise in your forecast, and when you react to what happened you are also contributing to see if your original forecast makes sense.

Good luck to you and may this journal entries help you be more aware of what you are doing and how to do better. Well done you have spent so many years trading already.

Very well said, mental health issues are very very common, particularly for those working in the financial markets. I can say this from a personal point of view as I used to work in this field when I was younger and I was impressed that they even offered therapy and anxiety relief sessions. My...