How do I trade Forex?

CyberWarrior · Feb 23, 2017

You need to practice a lot if you wanna become successful, in Forex Trading. Practice makes man perfect.

radex78 · Feb 23, 2017

geedy said:
This is true, that is about all the precautions we can take at this point and hope for the best at least.

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

mlawson71 · Feb 24, 2017

CyberWarrior said:
You need to practice a lot if you wanna become successful, in Forex Trading. Practice makes man perfect.

No amount of practice will make a trader perfect, but it can help smooth out some rough edges.

Esha.J · Feb 26, 2017

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.

mlawson71 · Feb 26, 2017

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.

radex78 · Feb 27, 2017

Esha.J said:
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.

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

mlawson71 · Feb 27, 2017

I wish my analyses had 80% accuracy. During the periods I pass 50% I pat myself on the back.

CyberWarrior · Feb 27, 2017

mlawson71 said:
No amount of practice will make a trader perfect, but it can help smooth out some rough edges.

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.

geedy · Feb 27, 2017

radex78 said:
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

You can only reason in this light when things go wrong, but hopefully things wouldn't come to that.

mlawson71 · Feb 28, 2017

CyberWarrior said:
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.

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.