Learn by Action in Forex
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Thread: Learn by Action in Forex

  1. #1
    Join Date
    Dec 2015

    Learn by Action in Forex

    Learn by action in forex

    I want to talk about my experience.

    I am just trading for one year 3 month now. I just got margin call and then wipe out.
    Why did i get wipe out? There’s three reason :
    1. Too greedy, i want to get money more and more but i am not watching news that can me know where that currency go (up or down).
    2. Can’t make decision, i am already knew that i got lost but i too scared too closed it. I was scared my money gone.
    3. Low experience, one year is not enough experience for me to know the flow of currency

    But there’s something i learn from that :
    1. Looking for community, if we have community then we can share our thought and our experience.
    2. Reading and listening, read a lot of book, news, forum and listening to other people's strategies and experience.
    3. Stay calm, with stay calm we can make our decision better.
    4. And last is refreshing, we need to clear our mind at least once a month.
    Last edited by Gamer; 12-08-2015 at 10:59 AM.

  2. #2
    When you have determined the crude money flow, you will probably decide whether it is certain or negative. This is finished by stamping whether the crude money flow in a given period is higher or lower than the period previously. On the off chance that the commonplace cost for the period is higher than the past period, it is viewed as a positive money flow and on the off chance that it is not exactly the past period's value, it is viewed as a negative money flow.

  3. #3
    It happens that our best experience is that we have pay for. Only when the trader loses substantial amount of money he becomes to understand the main concepts of trading. This is how human nature is built, so almost all traders pass through it. That is why it is so important to analyse all mistakes made during trading which led to such losses and to make proper conclusions to avoid such mistakes in future. Of course, most of the rules the trader would get as the result of such analysis are well-known and could be easily found within the Internet, but the trader would be able to understand their importance only after having experience like this. That is why it is almost impossible for the newbie trader to become successful without losing money, and this is the reason why so many traders working in prop trading firms succeed: the company controls their risk so that they could make mistakes but still could continue trading.

    Each trader should understand the impact emotions have on his trading process and decisions he makes. Of course, it is impossible to eliminate the impact of emotions (unless you automatize your strategy and use a bot trading instead of you), but is is possible to reduce their impact on the quality of the decisions taken. The first step would be to create a detailed trading plan describing all important steps of trading process including the criteria used to choose the instruments and rules on opening and closing the positions. Then, trader should act strictly in accordance with such pre-defined plan.

    For sure, community is important too. Many retail traders fail just because they trade isolated from their colleagues and have no possiblity to communicate with someone and share their ideas and experience. At the same time, now it is quite easy to find or even to create your own trading community to discuss all issues related to trading to find solutions together.

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