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Thread: Next 20 trades without exception challenge

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    Next 20 trades without exception challenge

    Have come to see that for me or any trader for that matter, to make it in forex, that I must stop looking at the market on trade by trade basis, but i must now look at a sample of trades instead. The reason being that there is no way to know which of the trade will do well or not. But if I trade in samples, then i will then judge the trades in the sample by how many percent were profitable and how many percent was loss. I'm doing this with a strategy that should give me about sixty to eighty percent win rate.

    So, join me.

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  2. #161
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    Challenging ourselves to achieve some goals in Forex is a very good motivation that can enhance what we are earning in the long run, we will suddenly discover that we are making far more progress than what we have previously accomplished, when we tell ourselves that we want to ensure that we don't miss the next 20 trades regardless of whether we make loss or profit, it will act as a confidence booster because we are going to need discipline to get this done which is very important.

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  3. #162
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    We seldom take such challenges, we get irritated easily because we have made about two losses at once, we immediately switch to another mindset, which is based on revenge, this is what happens to me personally, so I am not say it something in reference to someone else, what can help us at such times is the small lot we used, however, this is tough.

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  4. #163
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    If you want to make good money, then you should be good in your analysis and you should try to trade as many pairs as you could possibly trade, but the use of multiple pairs is the best way to make good money, cause if one pair fail you maybe the other won't, so the idea of trading multiple pairs is the best way to make money from this market. And the use of a good strategy.

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  5. #164
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    Making good money from the Forex depends on how well we challenge ourselves mentally. Once you can successfully pass the challenge you have given yourself, the rate at which your confidence grows is faster, if I have said I want to take the next twenty trades without exception and I do exactly that, it will boost my understanding of market structure and how to trade with more discipline.

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  6. #165
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    Quote Originally Posted by simisola View Post
    We seldom take such challenges, we get irritated easily because we have made about two losses at once, we immediately switch to another mindset, which is based on revenge, this is what happens to me personally, so I am not say it something in reference to someone else, what can help us at such times is the small lot we used, however, this is tough.
    At times, taking challenges is so hard on its own, and some traders have argued that challenging yourself is like the trader is not serious, because there will be a target expected, and trading with targets in mind are not always good. This is just one school of thought. To some other traders, the taking of challenges and setting targets will make them improve on themselves, and i see nothing wrong in that, it will make traders improved on what they can do.

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  7. #166
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    We should not just judge the trading system based on few trades but it should be on so many trades and their outcome should be the result we need to use. Personally, I have stopped looking at the individual trades but I set out to trade at least about 20 to 30 trades and make out the trading results using them all, because when you look at the individual trades then you can never or fully understand whether you are making some progress or not but when you take a look at about 20 to 30 trades then you can conclude your trading results on them.

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  8. #167
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    This determination is not bad once you have concluded that that is what is going to work for but am always big lots size when a trader has not successfully trade small lots size.Using big lots size is not the problem but we need to firstly trade with small lots size and see how good we can grow the account then bigger lots size will increase the account drastically.

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  9. #168
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    I absolutely believe that there is no 100% perfection in forex, but in forex there is balance, when you are able to balance your proti and losses you are able to make some good money , how ever there must be something that can stand your balance, for example, if you have 3 wining trades and 3 losing trades, in real life that should be zero, however if you take profit 30 or 40 and stop loss 20, then means which ever way you will still gain, there is no way you can lose more that trades than the winning trades , they can be 50-50 but never above these, so balancing is the key to winning in forex that would absolutely bring you some good money.

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  10. #169
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    A challenge like this would make us know the strength and weakness that our strategy has, if we want to test how well we have developed over a period of time then take a challenge where you will truly trade based on your strategy without leaving any trade out, until we come to that point where we understand the market like this, making money is going to be a very difficult challenge as we are doing things wrong.

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  11. #170
    Rookie ola4real's Avatar
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    Quote Originally Posted by Leonvic View Post
    A challenge like this would make us know the strength and weakness that our strategy has, if we want to test how well we have developed over a period of time then take a challenge where you will truly trade based on your strategy without leaving any trade out, until we come to that point where we understand the market like this, making money is going to be a very difficult challenge as we are doing things wrong.
    Yes, challenges like this will make forex traders to be more versatile. I said that as a results of the fact that for traders to gain 20 trades is still possible, that is very possible when it is not more than that. For traders to get this done, it is not necessarily means that the trader should trade the scalping, such trader can trade long term forex methods, then give it time to fulfill all the trades of the 20 orders in the success

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