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

  1. #1
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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. #31
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    Quote Originally Posted by Terror View Post
    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.
    Trading relying on luck, trading with fear,greed and emotions are all bad ways of trading which should be avoided. We are trading Forex with our own thinking, so emotions is expected in trading because we are humans after all. If we can control our human behavior during trading, we definitely control our emotions while trading.

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  3. #32
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    Management is key because it gives you the right for your trades to breath or move around say you have 1,000 usd in your account then you should never open more than 2 lots , the other aprt is that you are able tp pull together the market in a more pronouced way that you see out there

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  4. #33
    Registered user Hukam's Avatar
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    According to me trader should calculate their risk management and money management in a proper way, its not only about the lots or investment. You have to check it very carefully that lower risk trading system should be adopted, We should give proper margin for our trading style, for example my trading style suit to 1% risk per trade formula and I am adopting that since 5 year's in this business. Lower risk means more safety here in forex.

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    Registered user Azis Muslim's Avatar
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    I do not trade with luck even as small as 1% I would always say no to luck. If anything runs and works with exact calculation and contains values, it can not be combined with any elements such as luck. We do forex trading by analysis, focus, concentrate, and serious work with patience. Unlike those gambles who does less focus, concentrate and less serious work unlike any other business, no offense if there are any gamblers around. It is people's right and choice whether they like to depends on luck or not, that is not a big deal to me.

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  6. #35
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    From my experience in working in the forex market do not consider that work in this market can rely on luck whatever he does luck in our personal lives. This is because the work in this market depends on strategic and technical analysis can not be in any form, that we think that work in this market depends on luck

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  7. #36
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    Quote Originally Posted by ahmedfakhry View Post
    From my experience in working in the forex market do not consider that work in this market can rely on luck whatever he does luck in our personal lives. This is because the work in this market depends on strategic and technical analysis can not be in any form, that we think that work in this market depends on luck
    This is the market that needs the quality work from the trader, what traders are doing has to be purely professional, so nothing should be said of the luck in what traders are doing. The luck of every trader will not help them, the things which traders do professionally in the business is what will get them to safety and success.

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  8. #37
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    For me there are a number of things that you need to pull together and the first is trading forex is , technical trading prospects, these is some of the best strategy these works well, then there is fundamental trading, these is works well, its a good issues when we trade forex look for these effort we know of there is also look for emotions that may hinder a good trading form

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  9. #38
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    I think as a trader the prediction ,good money management and positive mental approach is very necessary in the business and these are the most important thing in the business where the luck i think it have the less role in the business but your good prediction and have mange your fund and take the right decision in the trading at the right time and trading with the positive mind frame is the key of success in the business.

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  10. #39
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    think about mental, it is near with emotion, and if traders have the problems with this, hard for them to work well in the market and although they have spent much time for trading, got some experiences and skill too, everything is nothing when the emotion is not controlled with well
    but if they can control and over come thing , so the elements for trading will implemented with well too, strategies, managements and etc

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  11. #40
    Registered user cutiekc's Avatar
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    Luck is depending on the work we have done, when we are hard working that is only when we will become successful. IN forex trading making money is not really an easy thing to get done with. So basically we need to see the importance of learning, through learning we would be able to get more knowledge and then skills which will beget us with more successful trades.

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