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Thread: How big is the role of management, mental, prediction or luck? >> Give Your Comment

  1. #1
    Registered user Agustina's Avatar
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    How big is the role of management, mental, prediction or luck? >> Give Your Comment

    [lang=id]Hello all ,

    as commencement here I share and discuss four basic important things that must be owned trader if want to join in forex.

    Management: I mean here is not just a financial management but actually setting entirely from financial arrangements, risk or margin you use and others.

    Prediction: surely all aware of this, and despite the forex price movements seem chaotic and can not be predicted but some still can be predicted, whether the calculations and analysis with the help of indicators, it could also use fundamental effect or other means

    Mental: mental I mean is all about psychology, be it a feeling, logic , emotion, greed, fear, anxiety and many other things certainly related to psychic

    Luck: and of course trader also a little hope and little reliance on this factor though most serious trader in forex'm not too concerned about this ...

    > Continue to main topic

    Management has a great role and main course, because I see most traders can get their profit the main reason cause good management despite predictions are not too good . Weakness prediction / analysis can be covered with a variety of management systems , For example an ideal setting lot volume, placing SL and TP as accurately , setting Risk and reward ratio, averaging, martingale etc .... so 30% for management, is this feasible? What about you

    Prediction is a cursory look the most needed and most important because in doing entry position we have to make the analysis and predict, but forex is not something that the whole can be predicted, at certain moments we could accurately predict but most of it can not, because forex is not for accurately predicted for most people it means to be ready to prepare things because of predictions go wrong, . so for me predictions can only be the role of 15%, maybe I inconsequential, please correct me

    Mental, Its looks trivial but in fact quite vital role. we can look at many cases of failure because has a bad mental, such as emotions, doubts, greedy, anxiety and more, but in other hands it is a major support factor a trader can succeed. I'm sure many agree that the mental role is the most in this business, for me until 50%

    Luck is the latter. As suely, as a truly trader not be relied on this one factor , and I'm sure most serious traders do not count on this one, but it may be relied upon in the final sequence although we also not be kept based on the luck to get profit in forex. for me luck has a role only 5%. are in your trading have luck more than 5% in the role?

    ___________________________________

    of course, because humans have a mindset that is highly variable or many are of a different opinion or may even think of me that makes no sense and can not be digested . not a problem for me, please comment[/lang]

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  2. #1271
    Trader sniper007's Avatar
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    All of the above mentioned all makes sense to me, but the one of luck, I don't think we should depend on that at all, because forex is no a gamble business, but forex trading is a business which we can become profitable if we have a good trading strategy, if we have a good money and risk management and then if we are disciplined.

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  3. #1272
    Trader cutiekc's Avatar
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    You don't get to be lucky in such a business, in the sense that you become successful based on what you have been learning, the way you make use of your trading strategy and then how much experience you have gotten, so therefore, don't think that forex trading is a gambling business and then think that you should trade and become successful based on luck.

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  4. #1273
    Trader Sascha's Avatar
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    Quote Originally Posted by cutiekc View Post
    You don't get to be lucky in such a business, in the sense that you become successful based on what you have been learning, the way you make use of your trading strategy and then how much experience you have gotten, so therefore, don't think that forex trading is a gambling business and then think that you should trade and become successful based on luck.
    the only luck that remains with us until now is to find this profitable business. i never thought i was able to come to such trading and know forex market this well before because i got this knowledge by searching through online business. that's it, the rest things i can do is to put my efforts to learn how to trade better everyday with market. you're right there's no luck to support our trading hence they don't help us to make money.

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