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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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    One should know that there is no role of luck in here, that way one gets luck upon how they have learned about forex trading, this means that you would get more successful when you learn. Apparently a good mental stability has said to be one of the things we will be needing to become a better trader due to when you have good mental stability, you would be able to do the right thing and at the right time.

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    Registered user cutiekc's Avatar
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    First thing, we traders has been losing our money because of the fact that we lack what it takes to make money from the market, therefore that we are been able to make money amidst the fact that forex trading is risky and the market is not stable, also there is no perfect trading strategy is because of the fact that money management is been used and well applied.

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  4. #43
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    Out of the three I don't think that luck has anything to do with forex trading because when you trading you have to know what kind of lessons you need to trade with especially for those trader who are taking a lot of risk you have to know that manage whatever money you better than you can trade

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    [lang=id]I think management is the most important weapon for minimizing risks, and if we think long term in forex business, management course should we prioritize, because it can not survive in forex in the long term if not with good management. besides it should also eliminate the mind wants a quick profit because of it being the biggest mistakes that traders often do[/lang]

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  6. #45
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    In all I think the money management remains the king because it plays a bigger role for us to achieve success which we truly want to gain from forex. We must realize that if we are to enjoy good profits from forex for a long time, we have to learn on the process of minimizing our risk always. I look towards managing my capital and I work hard to always see the need to survive or make it, and this comes with the help of money management.

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  7. #46
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    Quote Originally Posted by Optionfx View Post
    [lang=id]I think management is the most important weapon for minimizing risks, and if we think long term in forex business, management course should we prioritize, because it can not survive in forex in the long term if not with good management. besides it should also eliminate the mind wants a quick profit because of it being the biggest mistakes that traders often do[/lang]
    It is the thing that any trader should rely upon to make sure they are successful when they trade the forex business. The trader that has the management will be the trader that has the security of trading too, they are all working together to make sure the trader is successful in what they are doing all the time.

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  8. #47
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    [lang=id]
    Quote Originally Posted by Ifycoguy View Post
    In all I think the money management remains the king because it plays a bigger role for us to achieve success which we truly want to gain from forex. We must realize that if we are to enjoy good profits from forex for a long time, we have to learn on the process of minimizing our risk always. I look towards managing my capital and I work hard to always see the need to survive or make it, and this comes with the help of money management.
    I think that money management naturally will always remain the king in this business. It will always play a bigger role for us to keep managing the money so that we could possibly earn a good set of money. Realizing that profit comes from a good risk and money management will be very important and managing capital. However, managing capital will need a certain decision about trading lot so we won't make a bad decision at vital times.[/lang]

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    Quote Originally Posted by Vicko View Post
    I think that money management naturally will always remain the king in this business. It will always play a bigger role for us to keep managing the money so that we could possibly earn a good set of money. Realizing that profit comes from a good risk and money management will be very important and managing capital. However, managing capital will need a certain decision about trading lot so we won't make a bad decision at vital times.
    Money management is a single thing all traders need to watch out if they invest their own pocket money in here but if they are doing nothing at all then they don't need to invest anything at all in here. profit themselves will not always come from a good risk management too since they might come from some other factors sometimes as well.

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  10. #49
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    all are important but I think the most important thing is management and analysis means prediction, if we have both we can easily earn here good money, but with expert skills also if we have bad management then we can lose also, I saw some traders here who loses money because of bad risk management techniques

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  11. #50
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    One needs to ask the reason why there are so many people who are losing their money in forex market, why so many mistakes. Apparently one thing I get to place my hand on is the fact that so many traders are losing in forex market due to poor money management, and mostly they have not learned and master the strategy they are to make use of when trading.

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