How big is the role of management, mental, prediction or luck? >> Give Your Comment
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    Rookie 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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    Registered user 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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    Quote Originally Posted by cutiekc View Post
    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.
    i think its our hard work we are a forex trader and every one not a equal luck right if you do it hard work then you make a good money from it but if you did not focus in this field you never do it very soon its a mental power when you face a huge profit and loss it depend up to you whats you are able to hard work in this field so this is a risky business but if you working much more and more then you do it..

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    Quote Originally Posted by cutiekc View Post
    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.
    in my opinion in this field this is the very big role management in this field if you want to become a good trader then you need to try to understand how to work on this field cause luck is not important every thing depend on your hard work if you are a hard worker then you do not worry about any thing just do trade ...

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    Quote Originally Posted by Zahida View Post
    in my opinion in this field this is the very big role management in this field if you want to become a good trader then you need to try to understand how to work on this field cause luck is not important every thing depend on your hard work if you are a hard worker then you do not worry about any thing just do trade ...
    Many traders cannot do the management and trading properly and on losing money blame it on their luck. If you find it difficult to find a single luck day, you should better check out for whats going wrong in your trading. You can trade with more confidence but in any trade placing stop loss must not be forgotten at a suitable distance.

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    Quote Originally Posted by Bhave4U View Post
    Many traders cannot do the management and trading properly and on losing money blame it on their luck. If you find it difficult to find a single luck day, you should better check out for whats going wrong in your trading. You can trade with more confidence but in any trade placing stop loss must not be forgotten at a suitable distance.
    Yes I have often heard people saying with bad luck they have lost a lot of money in Forex. That is not true actually the reason lied in their own wrong trading and indiscipline. With bookish knowledge we must have practical knowledge. It is true that loss is the part of trading and i believe that all traders should learn to book losses when required and try best for next.

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    We have to understand that good management is the way forward in forex and if we are to make success in trading, then it's high time we take proper decisions in managing our trade. Some traders get it all wrong by thinking that they can be lucky with this business instead it gets easier for them to loose their trading capital in no time with forex. Luck will never help us here that's why it's high time we put in seriousness in creating a great skills that can help us trade well and deal with risk.

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    Management play a better role to help us minimize the risk which we are uncertain about in forex. It's for the best interest of traders who would really want to succeed in their trade to understand the need for proper management in forex because it's the bone of their survival always. We predict the market with good analysis and for becoming lucky, it's one thing that does not work in forex. You will need to develop your trading method and see you could be able to stay consistent with a great trade and see yourself reach your dreams.

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    Registered user Sascha's Avatar
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    Quote Originally Posted by Bhave4U View Post
    Many traders cannot do the management and trading properly and on losing money blame it on their luck. If you find it difficult to find a single luck day, you should better check out for whats going wrong in your trading. You can trade with more confidence but in any trade placing stop loss must not be forgotten at a suitable distance.
    it's not luck that can be blamed whenever we made wrong analysis and wrong trades because the blame should be on us as the traders, who made the decisions. besides, luck doesn't play any part in this forex trading because it's not even exist. i believe more on managements idea like money and risk management because such things are way sensible than luck.

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    Quote Originally Posted by Sascha View Post
    it's not luck that can be blamed whenever we made wrong analysis and wrong trades because the blame should be on us as the traders, who made the decisions. besides, luck doesn't play any part in this forex trading because it's not even exist. i believe more on managements idea like money and risk management because such things are way sensible than luck.
    Thinking that luck will make us successful is in itself a big mistakes and only those relying on luck will blame luck later for their losses. Knowledge and psychology is highly important because then we know what is right and also can do what is right. With experience I understand that forex can make my life happy and comfortable but it will take time and work.

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