5 Important Factors in Forex Trading - Page 2
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Thread: 5 Important Factors in Forex Trading

  1. #1
    Trader pajero's Avatar
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    Lightbulb 5 Important Factors in Forex Trading

    In my opinion there are 5 factors that greatly influence our success in forex trading, where if we can do all this we will be able to succeed and if we don't have one of these we will never succeed

    • Trading System


      The most basic first thing about trading is the trading system. The trading system is one of the important components in trading in my opinion because with this trading system we will be able to recognize price movements. Without a tarding system we will not be able to trade well, like if in a war, trading the system is our rifle, our weapons that we use against the enemy. When we have to buy, when do we have to sell and when we wait and see, it can all be read from the system we have.
      Use a trading system that is comfortable with us, don't just follow what others use, because it looks profitable, because other people's trading systems do not necessarily suit us, because everyone has different characters and desires. So when we only use someone else's trading system, it is not necessarily convenient for us to use and the results are not necessarily as maximum as the people who use it.
      So before deciding to use or choose a trading system, identify our character first, what we want. So that we have a filter to choose which trading system is right for us so that when we use it, we will be able to feel comfortable using it, and when we get comfort then the trading results will be maximized

    • Trading Rule

      We all know if in trading we are free to do anything, there are no rules that limit and regulate us. But without us knowing it, actually we need a rule, a rule for ourselves. And the function of these rules is to organize our trading so that it can be organized and directed. Because without rules we will tend to be confused and not know what to do.
      Therefore we all really need a trading system. Because the trading system will be clear, what we have to do and what we should not do, so it will be easy for us to trade by just following it

    • Money Management

      The third component that is important in trading is about management. A business will be successful if it is managed well, as is the case in trading. A very profitable trading system does not guarantee that we will succeed if there is no money management in it. But on the contrary, a normal trading system can provide consistent benefits if we apply good money management in it
      Because in trading, a profit and loss is something that we certainly get and we cannot avoid. So what we can do is manage it, so we can get accumulated profits at the end of our trading. So if we trade without good management money, our trading will never progress and develop

    • Trading Plan
      Besides good management, the last thing we must have in trading is good planning. Planning will help us reach our desired goals easily and purposefully. In this planning we can make step by step all the things we have to do in achieving our targets.
      Trading plan contains targets that we must achieve in trading. This is important because when we do something without a clear target, we will be confused and our efforts will be in vain because for nothing. If without a target, we will lose time, energy, mind and money without realizing it, for something we don't know for what

    • Discipline and Patience
      After all the components that I have explained have been made, the last is patience and discipline. Because it's useless we have all these things if we can't afford to implement them, and commitment to run all these components. Discipline will make all the components work properly as they should, and patience will always make our emotions well controlled.

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    Last edited by pajero; 02-14-2019 at 09:07 AM.

  2. #11
    Trader pajero's Avatar
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    Quote Originally Posted by GEO View Post
    It is right that there are so many factor that tell us that forex is the best trading strategy in the trading. the forex is money making machine. i agree with your 5 points of the trading . when we start over trading , we make some best goal want work with patient to achieve the goal and full fill over target then we become good trader in the market.

    Targets in trading are very important to motivate us. When we experience losses or failures with the motivation we get from our targets in trading, we will be able to get up again and try again, so we have a mentality that never gives up and always works hard whatever the conditions. So have a target trading before we start this trading business

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