Things we need to watch when making a trade decision - Page 184
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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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    Tonycee, good risk management really can be good thing for us because if we are managing self we can secure self from big loss, we can place right orders but if we are repeating mistakes, if we are not managing self how we can earn, so i think learn trade as much as you can, if you learn you can survive you can do better things, so make a decision which is good for you, if you do not have experience then you can take wrong decisions easily

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    Quote Originally Posted by naeem555 View Post
    Tonycee, good risk management really can be good thing for us because if we are managing self we can secure self from big loss, we can place right orders but if we are repeating mistakes, if we are not managing self how we can earn, so i think learn trade as much as you can, if you learn you can survive you can do better things, so make a decision which is good for you, if you do not have experience then you can take wrong decisions easily
    Limiting our losses is a crucial thing for the fact that incurring a big loss is much easy and possible than incurring a big profit. I have tried some other techniques in past, but lastly i found stop loss to be the best tool for risk management and to preserve our account. So focusing to increse our efficiency in using the stop loss is an important aspect of a traders development.

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    When we are making decisions in the market, we need to avoid the fact of getting ideas from our minds, because what we are doing is to focus on the chart and then make analysis and select good trades, so therefore the decisions we are making have to be based on the use of the time frame, decisions making needs to be done in line with the strategy which we have learned and mastered.

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    Quote Originally Posted by Makaveli View Post
    When we are making decisions in the market, we need to avoid the fact of getting ideas from our minds, because what we are doing is to focus on the chart and then make analysis and select good trades, so therefore the decisions we are making have to be based on the use of the time frame, decisions making needs to be done in line with the strategy which we have learned and mastered.
    we can take decision on time frame? i think its not right way to earn because time frame is not the only option,we can work hard here on base of strategies, so do it hard and as much as you can, if you have done this you can earn something well, but if you do no have proper management and experience then you can not survive and in end you will lose all, so make sure you have proper learning here

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    Registered user Silhouette's Avatar
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    Quote Originally Posted by naeem555 View Post
    we can take decision on time frame? i think its not right way to earn because time frame is not the only option,we can work hard here on base of strategies, so do it hard and as much as you can, if you have done this you can earn something well, but if you do no have proper management and experience then you can not survive and in end you will lose all, so make sure you have proper learning here
    I believe it's just one of many things that included to help us verify our further analysis. After using our time frames, we can use our strategies with chart patterns, indicators, fibonacci, or even news. As long as we're using everything that we've been working with for our entire career, I think it's not wrong to do. Of course it won't be happening to get trading decision if we're only relying on time frames alone.

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    rules made to be followed, not to be broken

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    Registered user sniper007's Avatar
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    Quote Originally Posted by Silhouette View Post
    I believe it's just one of many things that included to help us verify our further analysis. After using our time frames, we can use our strategies with chart patterns, indicators, fibonacci, or even news. As long as we're using everything that we've been working with for our entire career, I think it's not wrong to do. Of course it won't be happening to get trading decision if we're only relying on time frames alone.
    If we are technical trader then we don't need to make use of news trading method. In a nutshell, that is one of the thing we need to know, know the sort of trader we are, therefore that will help us to be able to make good decision, on the other hand, we also need to be able to have our emotions in good control, that is how we get to make good trader.

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    Decisions making comes from experience, which means that you should have practiced and then understand the approach to trading the market. We all do need to make sure that we have the good ability to make decisions, a lot of things has to be learned, therefore, one of the best thing to be done is that making sure that we make decisions in line with what we see on the chart.

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    Quote Originally Posted by Striker$ View Post
    Decisions making comes from experience, which means that you should have practiced and then understand the approach to trading the market. We all do need to make sure that we have the good ability to make decisions, a lot of things has to be learned, therefore, one of the best thing to be done is that making sure that we make decisions in line with what we see on the chart.
    With better experience we have the better brain to take decisions but as newbies we should start of with some serious demo practice. It needs demo practice, it needs experience and it needs every effort from us and thats why Forex is said to be not an easy task. It is our own duty as a trader to make sure that our trades are properly opened and managed properly till they are closed.

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    Registered user cutiekc's Avatar
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    I am more concerned the most about the analysis that I am making. Because I know that analysis is one of the most important thing, so therefore, before making the decision on taking any trades, I just do make sure that the decisions is coming from the right aspect and not me making decisions with emotions. Therefore, also knowing that my decisions making us been coming from the higher time frame.

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    i think the best thing is to check what the market is doing if its trending or its consolidating before making a trading decision.most times traders lose money because they trade against the trend when they are supposed to be trading with the trend.so we need to carefully observe the chart before getting into the market that way we will not be on the losing side of the market.

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