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

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    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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    Trader cutiekc's Avatar
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    I so much agree with you on all which you have said and at the same time I just do think that on has to be more disciplined, as that covers it all, when one is disciplined then they will be able to get the benefit of the market, forex trading might be a risky business but so far so good, I believe we are approaching it the wrong way, that leads to loss.

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    Trader Killer_Queen's Avatar
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    luck is the most less important thing and this should be ignored because we here do not depends on luck. if there are things that happened without our notice and it gives us unexpected profits, it does mean it is luck or coincidence. this means that we do not pay attention to our trading completely and do not focus. there probably some news release which cause the market moves accordingly to our positions and turn them into big profits. so things happened in forex trading are reasonable and has no relation to luck.

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    This is nice one, the way to make sure the trader make success is to have good plans, the good plans is what many traders are lacking. And traders do not know that a single factor can not make the total success of the trader, except they have the luck to make profits at times only. This is why many things is needed to be considered by traders.

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    Money management is the essential for becoming successful in forex trading. If you are good in money management then you can easily cover your losses because this is not possible you win every trade in forex no matter how much professional you are. There is always losing trades but people which are good in management are always successful in net profit. Prediction and luck also works sometimes but you cannot be lucky every time so you must need to learn market analysis and get great experience.

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    Registered user Agustina's Avatar
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    Quote Originally Posted by haroonali_100 View Post
    Money management is the essential for becoming successful in forex trading. If you are good in money management then you can easily cover your losses because this is not possible you win every trade in forex no matter how much professional you are. There is always losing trades but people which are good in management are always successful in net profit. Prediction and luck also works sometimes but you cannot be lucky every time so you must need to learn market analysis and get great experience.
    [lang=id]This is really good comment , and yes the ability to manage shows a seriousness in forex trading. but many things of course management on the things relating to forex trading, from money management, risk management, capital management, time and even psychological manageable for not inconsequential transactions in the market are uncertain movements .[/lang]

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    Quote Originally Posted by haroonali_100 View Post
    Money management is the essential for becoming successful in forex trading. If you are good in money management then you can easily cover your losses because this is not possible you win every trade in forex no matter how much professional you are. There is always losing trades but people which are good in management are always successful in net profit. Prediction and luck also works sometimes but you cannot be lucky every time so you must need to learn market analysis and get great experience.
    It is better to always make sure you are making your success, while the success will not come alone or through a single way of trading, it is will come with many things pout together by the trader. And it is possible with the system you are using, that will have good plans and management, it sill have discipline and good habits of trading.

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    Registered user Agustina's Avatar
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    Quote Originally Posted by Sylvertee View Post
    It is better to always make sure you are making your success, while the success will not come alone or through a single way of trading, it is will come with many things pout together by the trader. And it is possible with the system you are using, that will have good plans and management, it sill have discipline and good habits of trading.
    [lang=id]Yes good habits is very needed and good habits very related about mental , while Psychology or mental be the deciding factor in forex trading. be successful and not in the forex trading business running, depending on the extent of the psychological or mental well controlled, so there is no reason for entry and order without signaling, or order out of money management as using big lots that endanger the lives of trading account ..[/lang]

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    All these you are saying are very important in forex trading, we must take note of them and be sure we follow them in trading, emotional trading is very bad ,trader should be free of anxiety, greed ,and impatience, we need to be able to watch the market very well and get things right before trading, we should closely observe good money and risk management in the market.luck is not all that work but good experience and skill, so trader need to learn well for better earning.

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    Quote Originally Posted by Agustina View Post
    [lang=id]This is really good comment , and yes the ability to manage shows a seriousness in forex trading. but many things of course management on the things relating to forex trading, from money management, risk management, capital management, time and even psychological manageable for not inconsequential transactions in the market are uncertain movements .[/lang]
    The ability of traders to manage in the market show the seriousness of the trader and their determination to make good return when they trade. This is in the careful work of the trader to make sure they are successful, and they can be so successful when they get to make the right decsiosn in he market and with correct management too.

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