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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. #21
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    Quote Originally Posted by SuccessfulKartik View Post
    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.
    These are just challenged we need to learn. Success in Forex is the mixture of many qualities and many factors are there which make us successful. So i think both pf following things are necessary to be successful, the experience also and the patience also, the skilled trader need to have many things also including these both.

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  3. #22
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    Quote Originally Posted by budado View Post
    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.
    Yeah, analysis in the market is the part to get order sent down to the market. Making analysis then decide to get order sent to the market. Forex market sometimes is easy when trader get the analysis done. Market can be consider as the business, so the business needs the analysis of the market.

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  4. #23
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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.
    Understanding of our trading system is very important for us, first of all it should be our duty to find out a simple and clean trading system for ourself there should be not too much bugs, complex trading ways, and bad risk and reward in it. About the other things you have explained well crossing our trading limits we are crossing the danger line, big risk trading, and non stop trading are bad habits and should be under control.

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  5. #24
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    Quote Originally Posted by Hukam View Post
    Understanding of our trading system is very important for us, first of all it should be our duty to find out a simple and clean trading system for ourself there should be not too much bugs, complex trading ways, and bad risk and reward in it. About the other things you have explained well crossing our trading limits we are crossing the danger line, big risk trading, and non stop trading are bad habits and should be under control.
    Yes trader's need their own trading system for a best use of their mind and knowledge. Following other trader's could be harmful some time because trader's use their strategy blindly in real trading account some time and don't try to do a demo testing. Trader should keep in mind that he or she have to do a demo trading practice with other trader's strategy.

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  6. #25
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    Quote Originally Posted by Khimi234 View Post
    Yes trader's need their own trading system for a best use of their mind and knowledge. Following other trader's could be harmful some time because trader's use their strategy blindly in real trading account some time and don't try to do a demo testing. Trader should keep in mind that he or she have to do a demo trading practice with other trader's strategy.
    To build own trading strategy, trader could to copy and also modify trading strategy and trading system from other trader. Following other trader strategy and make several modification on those trading system. Trading will be so meaningful and also sharpen the creativity in building trading system.

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  7. #26
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    Quote Originally Posted by aris90 View Post
    To build own trading strategy, trader could to copy and also modify trading strategy and trading system from other trader. Following other trader strategy and make several modification on those trading system. Trading will be so meaningful and also sharpen the creativity in building trading system.
    A single strategy cannot work in all conditions. We have to possess multiple strategies. Well , i am not frustrated trader . I am trying to understand the whole process of Forex trading. It will take sometimes to know Forex. I am bit satisfied with my trading style because i am new here.

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  8. #27
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    Quote Originally Posted by AmitChallenger View Post
    A single strategy cannot work in all conditions. We have to possess multiple strategies. Well , i am not frustrated trader . I am trying to understand the whole process of Forex trading. It will take sometimes to know Forex. I am bit satisfied with my trading style because i am new here.
    More then one strategies are needed in trading and also we need know to implement them well. Studying a lot about forex trading and implementing none of them does not make sense,we must be able to understand the point of action taking in anything we does in other to attain greater heights,and is applicable to forex trading.

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  9. #28
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    Quote Originally Posted by shivanandfx View Post
    More then one strategies are needed in trading and also we need know to implement them well. Studying a lot about forex trading and implementing none of them does not make sense,we must be able to understand the point of action taking in anything we does in other to attain greater heights,and is applicable to forex trading.
    [lang=id]maybe the traders need several methods for trading but the important thing for them that they understand for what they are doing there, no matter what methods and if they know it deeply will make them sure to do the right thing in this business,[/lang]

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  10. #29
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    Quote Originally Posted by shivanandfx View Post
    More then one strategies are needed in trading and also we need know to implement them well. Studying a lot about forex trading and implementing none of them does not make sense,we must be able to understand the point of action taking in anything we does in other to attain greater heights,and is applicable to forex trading.
    This is a very good idea you have shared sir, there are so many reasons why traders are failing in this market, they might follow the due process of learning the market to become the processional traders, but the emotion or imbalanced trading psychology might not make them do what they have learned, it is good to remind traders.

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  11. #30
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    Quote Originally Posted by samprazaan View Post
    [lang=id]maybe the traders need several methods for trading but the important thing for them that they understand for what they are doing there, no matter what methods and if they know it deeply will make them sure to do the right thing in this business,[/lang]
    not a several methods will bring what the traders needs as solution, it is commitment to the little ones traders know so that they can give the solution to its trading. Before this one, traders can follow a good learning even if it is one strategy the trader learn, it will bring money to the trader.

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