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Thread: Step by step way to trade in forex trading.

  1. #1
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    Step by step way to trade in forex trading.

    Many are trying to focus on finding a good strategy that they can use to trade and make profit in forex trading. In my part I can say that strategy alone will not going to make us success trader. What we need is to understand the step by step way to trade in forex so that we have good chance of earning.

    First step is try to do analysis. Because no matter what strategy you going to use if you don't know if the trend is going bullish or bearish then you are just going to gamble your way into trading. Secondly after doing analysis make sure you do risk and money management. Then that's the time you pick the best strategy base on your analysis and risk and money management.

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  2. #11
    Trader techboy's Avatar
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    Quote Originally Posted by kie202 View Post
    This trade could be dangerous for traders, because one single mistake is enough to ruin everything, it is necessary to combine several things at once and make them work. We can not be successful with just a good strategy, to minimize the level of risk so prefer low-risk trading
    Right, trading is all about discipline in following certain rules, but sometime emotions seems to bother our trading and we sometime ignore our rule that can lead to massive loses, a trader must always follow good risk management approach and must observe his stop loss all the time, trading is not just about winning it's also how we handle our loses.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  3. #12
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    Quote Originally Posted by techboy View Post
    Right, trading is all about discipline in following certain rules, but sometime emotions seems to bother our trading and we sometime ignore our rule that can lead to massive loses, a trader must always follow good risk management approach and must observe his stop loss all the time, trading is not just about winning it's also how we handle our loses.
    Most of the time I do scalping and of course that also needs discipline. Scalping is a trade on a very short time frame, max 15min or almost shorter, during this strategy, brokers will have small role in business that will give them small part of commission. That is why most of the brokers don't allow scalping however glad that Roboforex allows it.

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  4. #13
    Trader techboy's Avatar
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    Quote Originally Posted by SuccessfulKartik View Post
    Most of the time I do scalping and of course that also needs discipline. Scalping is a trade on a very short time frame, max 15min or almost shorter, during this strategy, brokers will have small role in business that will give them small part of commission. That is why most of the brokers don't allow scalping however glad that Roboforex allows it.
    Good for you if you are successful in scalping strategy, there are a lot of traders never successful in this kind of approach because it requires fast decision making and very discipline in cutting loses, there are more emotional pressures if trade using scalping strategy, but then again it depends to our preference.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  5. #14
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    Quote Originally Posted by techboy View Post
    Good for you if you are successful in scalping strategy, there are a lot of traders never successful in this kind of approach because it requires fast decision making and very discipline in cutting loses, there are more emotional pressures if trade using scalping strategy, but then again it depends to our preference.
    Yeah there is no doubt in it that we need a good skill to handle this type of trading strategy, Personally I am doing scalping but most of friends believe that its not very easy to do trade with scalping because we have to take fast decisions, have to cut our losses very fast, and have to spend a lot of time on chart's. But I am happy for all those trader's who are making good money from this strategy.

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  6. #15
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    I think it is a good tread which may take us gradually to how to use the trading in the Forex . so i may find that it is a very good manner to trade on based thinking manner . it is more better than trading without any rules . so the trading may be calculated and understood .

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  7. #16
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    Quote Originally Posted by Hukam View Post
    Yeah there is no doubt in it that we need a good skill to handle this type of trading strategy, Personally I am doing scalping but most of friends believe that its not very easy to do trade with scalping because we have to take fast decisions, have to cut our losses very fast, and have to spend a lot of time on chart's. But I am happy for all those trader's who are making good money from this strategy.
    Learning brings simplicity in trading. We should keep trading simple and not make complicated. Excess stuffs always bring problem. If you love trading then trade. But you should not cross your limits. crossing limits can never be a good idea. This is what I strongly believe. So both taking excess risk and non stop trading arre not good.

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  8. #17
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    Quote Originally Posted by forexfighter007 View Post
    Learning brings simplicity in trading. We should keep trading simple and not make complicated. Excess stuffs always bring problem. If you love trading then trade. But you should not cross your limits. crossing limits can never be a good idea. This is what I strongly believe. So both taking excess risk and non stop trading arre not good.
    Trading should be kept simple. High risk can make trading complicated and is not good and disadvantageous for the trader. low risk comes with an affordable risk of loss and also with little returns. While a high risk comes with an unaffordable risk of loss, but if it goes in our way, it is always a very high and good profit.

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  9. #18
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    Quote Originally Posted by hosny55 View Post
    I think it is a good tread which may take us gradually to how to use the trading in the Forex . so i may find that it is a very good manner to trade on based thinking manner . it is more better than trading without any rules . so the trading may be calculated and understood .
    Good trades and good thread in forex trading. Forex trading in forex trading is very real. Market in forex trading can be so different way. Many trader just think in forex trading can be so random to get peak in forex trading.. Many trader must be thinking about the sistematic way.

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  10. #19
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    Quote Originally Posted by Abhishekwala View Post
    Trading should be kept simple. High risk can make trading complicated and is not good and disadvantageous for the trader. low risk comes with an affordable risk of loss and also with little returns. While a high risk comes with an unaffordable risk of loss, but if it goes in our way, it is always a very high and good profit.
    Thats right friend high risk means high stress and also complicated trading. However you can carry on with low risk strategy if you do this with a bigger capital. In that case you can carefully spend your time for the analyzing and entering the market and utilize well all the opportunities you can understand with your analysis. This is because, the risk will be a matter when using small and big capitals alike.

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  11. #20
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    Quote Originally Posted by shivanandfx View Post
    Thats right friend high risk means high stress and also complicated trading. However you can carry on with low risk strategy if you do this with a bigger capital. In that case you can carefully spend your time for the analyzing and entering the market and utilize well all the opportunities you can understand with your analysis. This is because, the risk will be a matter when using small and big capitals alike.
    Manual trading confronts emotions like fear, stress impatience so on. In manual trading you always feel nervous and tense while do the trades specially if you are not comfortable with your trading strategy it is more stressful on part of the traders that will result in more losing trades.

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