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

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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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    all things are important, we need of luck also but need of experience more, for prediction we need of good experience and analysis, with money management we can understand the risk of order, means we can understand with this order how much earning ratio will be how much loss will be if it occur, so all things are really important

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    Quote Originally Posted by nafisa ferdous View Post
    all of these are the major part in forex market and one depends another. without good management you can not success in this field so to be a good trader your management must be good and the other part is the mental, there is no place of the emotion and emotion is the major part for loss your trade and the another part is the prediction, prediction depends on the knowledge if you have better knowledge and experience your prediction must be better.
    [lang=id]Well , and for me as part of one of the foundations from a strong foundation in trading course is the application of management as good and wise. If the elements of this foundation we can do as consistently then will make us safe and comfortable trading . Then added with the ability to make prediction of the analysis then will be more opportunities to be great acquisition profit. This would have been related with the mental which is good or not.[/lang]

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    Quote Originally Posted by Agustina View Post
    Well , and for me as part of one of the foundations from a strong foundation in trading course is the application of management as good and wise. If the elements of this foundation we can do as consistently then will make us safe and comfortable trading . Then added with the ability to make prediction of the analysis then will be more opportunities to be great acquisition profit. This would have been related with the mental which is good or not.
    Surely the strong foundation will be very important in mental fortification and that is why we need to make them carefully and try to make as less mistake as possible in there as well. That way, we will feel more confident in what we are going to do and we will trade with less worry. If you are still lacking in the accuracy of analysis, it might be hard to do a long term one so try to do a short term one since that will be easier.

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    I you wanna know forex trading then know that management is the key and it works well for you if you wanna know how well the market works for these is how things are able to develop the good issues of the same we are always able to run the same trading season that we have seen when we trade forex we have to really look at the management these management give space to so many traders . its always good for us to really level so many trades that make forex work for us

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    Quote Originally Posted by naeem555 View Post
    all things are important, we need of luck also but need of experience more, for prediction we need of good experience and analysis, with money management we can understand the risk of order, means we can understand with this order how much earning ratio will be how much loss will be if it occur, so all things are really important
    [lang=id]Thanks for your comment , probably the trader can just rely on luck to generate profits from forex, but the luck factor certainly will not always come at any time, for that we are as a trader who wants to be successful it is proper to be prepared with the skills, knowledge and experience trading. do not ever try to deposit in big amounts if the forex trading skills is not good.[/lang]

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    [lang=id]
    Quote Originally Posted by Agustina View Post
    Thanks for your comment , probably the trader can just rely on luck to generate profits from forex, but the luck factor certainly will not always come at any time, for that we are as a trader who wants to be successful it is proper to be prepared with the skills, knowledge and experience trading. do not ever try to deposit in big amounts if the forex trading skills is not good.
    Traders that just want to depend on their own luck to generate the profit in here can't be blamed too much as well. They might just want to make some kind ammount of money but they are lacking skill for that. As the compensation, they can only offer their own guts in here and trade with some belief and gamble. That is fine but we need to get out from that condition to become a trader with skill.[/lang]

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    [lang=ar]There are various means that traders will amke sure they are making their success in the market, they will engage the force of the management, right rules of trading with their psychology and will make sure they are managing what they are doing. In addition they will make sure that they have good plans to cater for all the things they know in this business.[/lang]

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    In my opinion the processes of the trading is a mix of the usage of all these elements . but i may be sure that there is no big place for luck in the Forex trading .the luck may be fond with the binary options which may lead the traders to unexpected results at every trade he makes.

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    Quote Originally Posted by Jasy1.5 View Post
    In my opinion the processes of the trading is a mix of the usage of all these elements . but i may be sure that there is no big place for luck in the Forex trading .the luck may be fond with the binary options which may lead the traders to unexpected results at every trade he makes.
    I think that luck have their own place in here and sometimes they might just help your own trading with you are not aware of it. But you will look away from there simply because you think they are not reliable at all. This is why trading needs a lot of attention to luck factor too when we lacks them. Maybe praying a lot will help but naturally it will depend on your religion.

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    Quote Originally Posted by Nasir Lakhany View Post
    I think that luck have their own place in here and sometimes they might just help your own trading with you are not aware of it. But you will look away from there simply because you think they are not reliable at all. This is why trading needs a lot of attention to luck factor too when we lacks them. Maybe praying a lot will help but naturally it will depend on your religion.
    Traders that want to try their own luck can feel free to try it but i find if bad to rely on luck in this business. Most of the time the luck themselves will not present any good result and luck can be very great sometimes too. I have seen several jumps in the market and i kept thinking what would be if i try to make a big position before that big jump? Surely i'm lucky enough to earn that big money.

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