HELP novice trader - Page 152
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Thread: HELP novice trader

  1. #1511
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    I think that a thread like this will be of good help to so many traders here as to be able to ask those questions that are not clear to them and to get the right answer to such questions. The new traders will benefit greatly from something like this., one of the things that I have been finding as a great challenge to me as a trader is to know what I need to do that will make me to stop trading against the market primary direction. This is one of the greatest problem I have not been able to find an answer for, can anyone in the house help me out.

  2. #1512
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    Yeah this is a good thread where new trader's or old trader's can ask their questions and members can post their review and experience about them. Look sir becoming an successful trader would not be easy but on the other hand this is also true that its not impossible to become a successful trader here its a big challenge in front of us to achieve the success but regular hard work and a great passion of learning can make us capable of that.

  3. #1513
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    I have just lost 60% of my trading capital in just one trade this morning . I traded gold and I was having the intention of just taking on a pull back since gold is on a bullish move, I used a very high lot size compared to my account size and there was no stop loss, I got trapped and I could not cut the loss while it was still small until my account was almost wiped off, three things have been responsible for my loss, high lot size, no stop loss, and trading against the primary direction of the market, is there anyway I can stop this because these three factors has always been my problem as a trader.

  4. #1514
    Quote Originally Posted by newera View Post
    I have just lost 60% of my trading capital in just one trade this morning . I traded gold and I was having the intention of just taking on a pull back since gold is on a bullish move, I used a very high lot size compared to my account size and there was no stop loss, I got trapped and I could not cut the loss while it was still small until my account was almost wiped off, three things have been responsible for my loss, high lot size, no stop loss, and trading against the primary direction of the market, is there anyway I can stop this because these three factors has always been my problem as a trader.
    Once you have been able to diagnose your problems correctly the next thing for you is to work over them . To be honest with you , your problem starts from greed, that is , wanting to make big profits from a small account in a short term trading . The earlier you accept this , the better it is for you. You must learn how to be satisfied with little profits no matter what , another problem is disregard for good risk and money management in trading . How could you have taken position without using protective stop loss when you knew that the control of the market wasn't in your hand ? I will advise to have a serious look into the aspect of good risk and money management of you must enjoy your stay in forex trading industry

  5. #1515
    Please I want to ask his question probably for the numbers of years I have used in this business I have not been doing the right thing, because as us know we can not do without the time of challenge in any business and likewise here in forex trading, so therefore probably when I experience it I had not been doing the things in the market, therefore my question is " what is the best way to get the trend right? Please assist.

  6. #1516
    There are different means by which trend can be determined in forex and that has to do with the trading strategy being employed. Some traders make use of moving averages to determine the trend,while other may use another thing. Trend determination is what you should have learned in the process of knowledge and skills acquisition and this is easily determined on higher time frames. If you have not been able to determine the trend, you are still having a long way to go in learning process because part of what you must master is trend determination and risk management.

  7. #1517
    newbie trader should avoid investing real money on live account without knowledge ad experience. use demo account for practice and prepare all you need to earn profit on live account. try to learn how to analyzing the forex market movement. develop your own strategy and create your trading rules. demo account is the first step for newbie trader

  8. #1518
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    I think the new trader is bound to fail in its first trading,.first thin is he should have lot of practice and technical knowledge before entering in the real market.there is no hard and fast rule for choosing the right percentage of stop loss or equity loss.it all depends on person to person.what is your nature and life style and vision.But technical analysis can be used for any intervals.

  9. #1519
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    helping of the novice traders will let them to understand the market better and the trader can make build a good trading system and can be able to trade well and make money, the novice traders need knowledge much because they want to know the most important things about successful trading and so they will become good traders and make profits.

  10. #1520
    Registered user mohabbat's Avatar
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    Quote Originally Posted by Gamer View Post
    You are welcome in our welcome :
    How much percentage you want to use for the trading or per trade it's quite different .
    Find out first how much maximum your draw down per single trade , What's draw down, it's negative floating after exection of the order . Very important to know it always
    I am always using one percent of total capital per trade this is my first step. but sometimes market condition and economical events encourage me for increasing volume. specially NFP and Bank interest rate always encourage us to take risk. and my draw down does not cross 15%.
    Don't loss you hope.

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