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Thread: Playing with the logic in trading

  1. #1
    Trader rinaji's Avatar
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    Playing with the logic in trading

    I will try to make a trading journal, I hope this can represent my understanding of trading and forex market.

    Trading plan:

    Basically I was a longterm trader....
    I think the market is an overview of the condition of the balance between supply and demand, so I have never forgotten this principle in every trade that I did.
    I want to unify the logic of the three basic elements of a forex trade, that is mindset, methods, and money management.
    I'm looking for a good moment of all pairs, but I only open the position in one currency pairs.
    Usually I always analyze the market in monthly time frame, if there is no chance, then I will analyze in weekly chart, and if there is no chance on weekly time frame, then I will analyze in daily chart, and so on ....
    I just analyze the technical basis, there is no indicator that a permanent option for me, all the indicators are useful for me. But there are times when I do not use indicators at all. And even I can open a position by analyzing the fundamental conditions. And I will take the position even though only from rumors, if it is potential to making profits.

    I am always open positions by averaging techniques with risk management manually, manually cut loss and take profit manually, max 4 positions in one day, there are usually closed position within few hours, and there are some positions that I hold up as far as possible.

    This journal is a motivation for me to improve my trading skills, because this strategy is purely based on my understanding, and I have never used this strategy before.

    I think this is enough to explain my trading plan, if I explain it all could probably spend 10 page thread. In essence, I just use a simple technique. Only rely on logic.

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  2. #661
    Trader ola4real's Avatar
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    Quote Originally Posted by Penuelophir View Post
    The most effective logic is to make sure that you are willing to get to know what trading forex is all about and that is possible whenever we are willing to get to start learning how to trade and master the field of forex trading market over time through practicing on the demo trading accounts that is the basic logic ever to use, because if you fail to obey this simple logic then you are going to spend all your life learning from your mistakes which shall lead to series of losses.
    There is no logic in forex field, and if there were logic truly, forex traders should know that they can only prove that themselves, it is not what they can prove in the general way. To trade the forex field is by our experience and who we can work correctly with what we know and with what we see on the forex chart who are changing all the time.

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  3. #662
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    Then stop learning how to trade because the logic thing is that we should be learning how the forex market works. I do think there is there is some kind of logic in the field of forex trading if not then most of us should stop following their trading systems and start making use of their mind and not what is happening in the field of forex market. Most logic thing we should do as novice forex traders is to start learning and developing our trading skills over time and whenever we over looks this basic logic things we tends to get into a lot of troubles.

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  4. #663
    Trader Doge's Avatar
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    Logic is necessary, but I don't think it's enough for successful trading. In my opinion mindset is more of a consequence and methods should include both technical rules and reliance and developing of intuition. It almost looks like like setting a mindset, but it's really not - we're working on other things and mindset comes by itself as a consequence.

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    Wow. Much Forex. So Monies. Very Opportunity.Many Trade. So Amazed. Wow.

  5. #664
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    Quote Originally Posted by ola4real View Post
    There is no logic in forex field, and if there were logic truly, forex traders should know that they can only prove that themselves, it is not what they can prove in the general way. To trade the forex field is by our experience and who we can work correctly with what we know and with what we see on the forex chart who are changing all the time.
    I understand your plight about the logic, and i think it is not necessary, the traders that are being celebrated in the market are not the traders of the logic, they are the professional traders that actually know what they are doing. With the best success coming our way over the time, we will get to sustain it with experience and the better handling of our trading.

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  6. #665
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    Quote Originally Posted by ajagbeolegba View Post
    I understand your plight about the logic, and i think it is not necessary, the traders that are being celebrated in the market are not the traders of the logic, they are the professional traders that actually know what they are doing. With the best success coming our way over the time, we will get to sustain it with experience and the better handling of our trading.
    I think being logical to some extent means being aware of what we are trading because if we trade something randomly then that is very illogical kind of trading. Further we need to make consistent efforts to maximize the quality of our trading whenever possible. Even evaluation of our trading will throw light on the quality of our trading and then we can work upon it to make it better and better. What we sow so we reap in trading and hence we should make sure that we work consistently.

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  7. #666
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    The extent you are going to start earning money off the field of forex trading business depends largely on how willing you are towards gaining and increasing your level of experiences and knowledge which are the backbone of successful trading and these are possible whenever we are very obsessed towards learning than towards earning. I am more concerned with ways through which I can trade the forex market logically without following the feelings but making sure that I am into trading with the best possible means which are the best towards earning money most times.

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  8. #667
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    Quote Originally Posted by AmitChallenger View Post
    I think being logical to some extent means being aware of what we are trading because if we trade something randomly then that is very illogical kind of trading. Further we need to make consistent efforts to maximize the quality of our trading whenever possible. Even evaluation of our trading will throw light on the quality of our trading and then we can work upon it to make it better and better. What we sow so we reap in trading and hence we should make sure that we work consistently.
    I know that being logical could help traders better, traders can get to make their success with some logical conclusion as well. But i am the kind of traders that is strict with what i know about the market only, i do not work on anything aside what i see on the chart and how best i can interpret it to work for me. Quality trading is what i know that matters.

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  9. #668
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    It is actual based on good money management and learning about the market , so if we have good knowledge about trade and with the learning properly it will give trader always opportunity to work safely in market , working with the best strategies and make our plan very well it will help to achieve success .

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  10. #669
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    Trading with the logic mean if we have learning about trade so our understanding will be developed and we take better use of our trade strategies we always have to make our plan very well according to the logic and strategies we have develop , our trading system will be successful for trader if these will be followed through good use of plan and with the learning enough .

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  11. #670
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    Quote Originally Posted by tejaravi View Post
    It is actual based on good money management and learning about the market ,
    In fact, none of us can ever make it in the field of forex trading business without possessing things two thing that you have mentioned above and we can never become better and last in the business of trading whenever we are lacking good amount of experience and knowledge and above all good money management because these things are the backbone of successful forex trading and if you desires to become a professional forex trader then these things must be learned and mastered over time.

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