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Thread: Things we need to watch when making a trade decision

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    Things we need to watch when making a trade decision

    [lang=id]Many traders will just keep making a lot of entries unprepared in this business i think. And then there are people that will just makes random decision without any thought at all. But personally i will say that a trade decision is something that we need to carefully watch. The things that i suggest to make a trade decisions are:

    1. The market's price

    Sometimes we tend to see the market has already been pricing in when we want to trade. If we simply enter the market at that condition, There will be a high chance of reversal.

    2. Market's sentiment

    The sentiment in the market can be shown with the trend as well, There are traders that can tell the sentiment by themselves but that's because they have got the knowledge already. As for the new traders, watching the trend will tells them where are the sentiment and watching 15M chart in here might help.

    3. Risk Management

    All traders need to be sure that they can earn but they will survive in case that anything worse happen in here anyway. many traders just trade without even knowing the risk that they might get wiped out. So we need to avoid that at all cost.[/lang]

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    Quote Originally Posted by Abhishekwala View Post
    Yes a trader needs to observe the market action carefully and try to make effective use of his strategy in order to tap a high probability trade. Additionally any negligence with the money or risk management rules will invite the fear and frustration during trading. Growth of our capital is necessarily achieved by our skills to study the market and follow risk management to take rational risks.
    There are lot of reason for trader to feel fear because we need to understand the importance of risk management and with learning will define which is most effective way of trading and we focused well and get positive results on learning and practice give opportunity and better growth for successful trading .

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    Registered user layigold's Avatar
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    For those who make entries in forex trading unprepared , they are better called gamblers and that is whom they are because you must be very sure of what you are doing at least to a reasonable level of probability . In trading , you need to watch the market though you have no control over the market but you can take wise decision from what you see in the market . Another thing you need to watch is your risks, how you approach the issue of risks management matters a lot in forex trading because that is the factor that can make you last long in forex trading business or crash out sooner than you ever expect

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    Registered user Yayami's Avatar
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    Quote Originally Posted by fahaddd View Post
    There are lot of reason for trader to feel fear because we need to understand the importance of risk management and with learning will define which is most effective way of trading and we focused well and get positive results on learning and practice give opportunity and better growth for successful trading .
    the problem when a trader feel such fear inside his heart is about the psychology management. i bet he's already have a good strategy and other managements like money and risk but they're still having big trouble to make decisions because they're doubtful or lack of confidence. they prefer to trust other's analysis which may be incorrect and ignore their own analysis which has higher probability to give him correct decisions. so it matters on how traders think about their confidence and it's hard to improve while we're still having this kind of problem.

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    Quote Originally Posted by Yayami View Post
    the problem when a trader feel such fear inside his heart is about the psychology management. i bet he's already have a good strategy and other managements like money and risk but they're still having big trouble to make decisions because they're doubtful or lack of confidence. they prefer to trust other's analysis which may be incorrect and ignore their own analysis which has higher probability to give him correct decisions. so it matters on how traders think about their confidence and it's hard to improve while we're still having this kind of problem.
    Yes i agree with you the decision making ability is much helpful to plan our trade and to take decisions wisely This is very risky business there you have to face many difficult situations an emotionally strong person can only exist here and can grow here to get money.We have to choose the best way with courage and take our decisions on the base of our understanding not on our emotions.

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    Last edited by fahaddd; 02-02-2018 at 05:42 PM.

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    Quote Originally Posted by fahaddd View Post
    Yes i agree with you the decision making ability is much helpful to plan our trade and to take decisions wisely This is very risky business there you have to face many difficult situations an emotionally strong person can only exist here and can grow here to get money.We have to choose the best way with courage and take our decisions on the base of our understanding not on our emotions.
    The ability to take right decisions is developed gradually through learning and experience and to take clear decisions we should make sure not to take too high risks. It is good to plan our risks well and proceed to trade with good chart analysis, price action and trend strategies. Even when there is any problem there will be some way to solve that. Lack of self-control is the source of all trading evils.

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    Registered user sniper007's Avatar
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    The most important thing I am and I have always been wary about if I want to trade on forex is my emotions. I am always slow to making trading decisions so that I don't get carried away and then make the wrong trading decisions. In a nutshell, any one that is interested in making money from forex trading should be careful on how they make decisions to avoid losses and failures.

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    In this regard, I would like to say that the trading decisions we can be making will determine the fulfillment one gets. Forex is a business which one has to make certain that they can examine properly, due to that do decide the choices were made, the ones who've negative know-how about the business will at all time emerge as making the incorrect decisions about the market.

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    Registered user layigold's Avatar
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    When you have a trade setup before you and as a trader you are about making trade decision , you need to consider your account size so that you will not take a risk that his higher that the strength of your trading capital. You need to compare your risk on that trade with the potential reward to check if the set up is really worth being taken or not . You need to watch for the fundamental news ahead so that you will know when to close the position manually in case the take profit target has not been hit before the news time .

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    Higher plans in buying and selling are needed for our trade and we want to look at on our trading selections and make certain that there is a good plan on minimizing the risk we are possible to have in foreign exchange. We have so much to analyze this change and it's properly we work closer to buying and selling higher for our personal proper.

    Forex is the right business for us and we are able to always look to over to manage this alternate so we can be successful and have what it takes to reach for our desires on this very possibility.

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    Registered user Lyon's Avatar
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    Quote Originally Posted by layigold View Post
    When you have a trade setup before you and as a trader you are about making trade decision , you need to consider your account size so that you will not take a risk that his higher that the strength of your trading capital. You need to compare your risk on that trade with the potential reward to check if the set up is really worth being taken or not . You need to watch for the fundamental news ahead so that you will know when to close the position manually in case the take profit target has not been hit before the news time .
    I check on different time frames before I make my decisions. Because I don't want to be taken unaware by the market indecision and take the wrong trade and the wrong trend direction. Therefore I am always making sure to take my time to analyze the time frames, never been in a hurry to take trades in the market.

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