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  1. #1
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    Proper questions for trader. Part 2

    Hi traders.

    Let’s continue talking about «proper» and «inproper» questions for trader. This article is to continue first article on this topic.

    Bad question: How to force myself to be disciplined?

    Such question is being asked by those who already are trading more than 1 year :)

    Well, when trader asks question about discipline, it’s a good sign because it’s our actions what we can be responsible for, we can’t influence the market. So, at the first sight it’s a good question. But too often traders blame discipline in all situations.

    Once I’ve hear from one trader: «I would easily make 100% a month if not my discipline.»

    Our brain plays games with us. In behavioral finance it is called «narrative bias», Nassim Taleb calls it «postdiction». We think that we knew right decision when we look at the situation afterwards. So, it’s natural for us to think that we have made wrong decision because of self-sabotage, not because of lack of information. Traders say – «how could I do this? What an idiot I was!»

    You see – that’s typical. Every trader makes a decision due to some observations, conclusions, some analysis. But after uncertainty is eliminated, trader says: «It’s obvious! I harm myself, I lack discipline»

    Or another example: trader says that he is uncomfortable with putting 10% of his account at risk, thinking that reason for his failures is just emotional. But 10% risk in a single trade is a very big risk, that will easily lead to failure not only novice trader but experienced trader as well. You do the math. Remember money management – enormous risks will lead to failure even if you trade well.

    «Narrative bias» can be cured if you remember that you don’t know where the price will go, in trading you are simply manage your risks. And before you ever consider working on your discipline, you have to know – what works and what doesn’t work in trading. In other words, you have to know how to trade profitably. If you have profitable trading and know how to first survive then earn money, then you can talk about self-sabotage and other things.
    I’m not to say that trader should not work on self-awareness and emotional intelligence. I’m great believer of improving those skills. Trader who has greater self-awareness, has much greater odds of being successful than trader who is unaware of his own hidden emotional triggers.

    And proper question will sound like this: «How could I develop self-awareness that would allow me to execute upon my trading plan»?

    Bad question: What broker to choose?

    Many beginner traders ask this question as if choosing right broker automatically guarantees income for them. Well, in some cases – for example, when traders wants to scalp or to be a very active daytrader, this question is quite fair. In this case you have to be sure that your broker allows to execute your trades without significant delays or requites. For example, technology of Roboforex allows to trade in a very fast mode, you can even use high frequency robot in your trading.
    But very few traders ask: how to trade profitably?
    If you can trade, choosing a broker is a step number two. You can use demo account or small real account before you switch to real money.

    But learning to trade has to come first.

    I understand this question of beginner traders. They are too excited with the perspective, they are so unfamiliar with the process of getting money «out of nothing» (some of them treat trading like this) that they have doubts - is it really possible to withdraw money from Forex trading? Is it not a fraud?
    It’s not a fraud. Many traders make a living or at least generate additional income for their living, trading Forex and other markets.

    But first you have to learn and to understand what strategy you want to employ.
    So, the better question will sound like this: «What broker is best for my strategy, for my individual trading style?». You should know your trading style before you choose a broker, how do you think?

    Good luck!

    Sincerely,
    Value trader

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  2. #11
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    proper questions are very much essential for the trader so that they will have a very clear view about the market and not only that questions will help they to learn more and more about the market and to get the best profit out of the market and because of that purpose only proper questions are required in Forex trading.

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  3. #12
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    whether a trader will be able to live with this trade and if a merchant could support herself and her family only with this business and this is a question I want to know the answer well in this business where I could do a trade with a vengeance with our trade for the creation trade is indeed true that we are able to do

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  4. #13
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    Quote Originally Posted by Value trader View Post
    Hi traders.

    Let’s continue talking about «proper» and «inproper» questions for trader. This article is to continue first article on this topic.

    Bad question: How to force myself to be disciplined?

    Such question is being asked by those who already are trading more than 1 year :)

    Well, when trader asks question about discipline, it’s a good sign because it’s our actions what we can be responsible for, we can’t influence the market. So, at the first sight it’s a good question. But too often traders blame discipline in all situations.

    Once I’ve hear from one trader: «I would easily make 100% a month if not my discipline.»

    Our brain plays games with us. In behavioral finance it is called «narrative bias», Nassim Taleb calls it «postdiction». We think that we knew right decision when we look at the situation afterwards. So, it’s natural for us to think that we have made wrong decision because of self-sabotage, not because of lack of information. Traders say – «how could I do this? What an idiot I was!»

    You see – that’s typical. Every trader makes a decision due to some observations, conclusions, some analysis. But after uncertainty is eliminated, trader says: «It’s obvious! I harm myself, I lack discipline»

    Or another example: trader says that he is uncomfortable with putting 10% of his account at risk, thinking that reason for his failures is just emotional. But 10% risk in a single trade is a very big risk, that will easily lead to failure not only novice trader but experienced trader as well. You do the math. Remember money management – enormous risks will lead to failure even if you trade well.

    «Narrative bias» can be cured if you remember that you don’t know where the price will go, in trading you are simply manage your risks. And before you ever consider working on your discipline, you have to know – what works and what doesn’t work in trading. In other words, you have to know how to trade profitably. If you have profitable trading and know how to first survive then earn money, then you can talk about self-sabotage and other things.
    I’m not to say that trader should not work on self-awareness and emotional intelligence. I’m great believer of improving those skills. Trader who has greater self-awareness, has much greater odds of being successful than trader who is unaware of his own hidden emotional triggers.

    And proper question will sound like this: «How could I develop self-awareness that would allow me to execute upon my trading plan»?

    Bad question: What broker to choose?

    Many beginner traders ask this question as if choosing right broker automatically guarantees income for them. Well, in some cases – for example, when traders wants to scalp or to be a very active daytrader, this question is quite fair. In this case you have to be sure that your broker allows to execute your trades without significant delays or requites. For example, technology of Roboforex allows to trade in a very fast mode, you can even use high frequency robot in your trading.
    But very few traders ask: how to trade profitably?
    If you can trade, choosing a broker is a step number two. You can use demo account or small real account before you switch to real money.

    But learning to trade has to come first.

    I understand this question of beginner traders. They are too excited with the perspective, they are so unfamiliar with the process of getting money «out of nothing» (some of them treat trading like this) that they have doubts - is it really possible to withdraw money from Forex trading? Is it not a fraud?
    It’s not a fraud. Many traders make a living or at least generate additional income for their living, trading Forex and other markets.

    But first you have to learn and to understand what strategy you want to employ.
    So, the better question will sound like this: «What broker is best for my strategy, for my individual trading style?». You should know your trading style before you choose a broker, how do you think?

    Good luck!

    Sincerely,
    Value trader
    Whether a trader are ready to stick out this trade and if a trader might support herself and her family solely with this business and this can be a matter i need to understand the solution we have a tendency toll during this business wherever I might do a trade with a payback with our trade for the creation trade is so true that we are ready to do.

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  5. #14
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    Quote Originally Posted by shl2412 View Post
    Whether a trader are ready to stick out this trade and if a trader might support herself and her family solely with this business and this can be a matter i need to understand the solution we have a tendency toll during this business wherever I might do a trade with a payback with our trade for the creation trade is so true that we are ready to do.
    Making a trade is quite hard when we want to enter a volatile market with a buy or a sell position. indicators such as RSi tells us about the volatility of the market and Whether we should enter a buy position or a sell position. it also tells us whether the market is over bought or over sold.

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  6. #15
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    Quote Originally Posted by aliabbassoni View Post
    Making a trade is quite hard when we want to enter a volatile market with a buy or a sell position. indicators such as RSi tells us about the volatility of the market and Whether we should enter a buy position or a sell position. it also tells us whether the market is over bought or over sold.
    Volatility is the problem for traders,dynamic volatility in the market,the market which is performed with news and gaps,they are fall to catch the moment because of that,but they could make more earning if they understand about the momentum in the market,so sure what the traders need to understand is to place the buy or sell at good point and understand the reason behind their decision in trading with that way.

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    Finally successful traders

  7. #16
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    Its true that type of questions a trader ask really tells on what type of mindset it starts trading with and lot of traders does ask that If I invest 5k the will I be able to get a return of 20% or more and that is in my view that traders came here to make money and will make every effort to make consistent income as long as they have capital and when they loose all they then only they try to find out reasons behind the failure which is really a bad experience and everybody should be aware of the fact that money making is trading has everything to with the mindset above all other things.

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  8. #17
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    Quote Originally Posted by aa1 View Post
    well questions have a very high impact on the traders mind so it is very much essential that trader should be provided with better question which help them to improve themselves in trading so that they will earning more and more profit from Forex trading.
    yepp true indeed these two questions is very important in the life of a trader,,, how to have a good broker and also improve yourself this question ... it's very touching and also can change us in terms of psychology and later actions before we do trading in our trade and are not in a hurry before thinking mature

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  9. #18
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    Quote Originally Posted by salma View Post
    As invariably worth merchandiser is adding in additional values in roboforex forum and serving to in educating the troubled traders like US. These appears terribly straightforward aspects, however typically we tend to ar such a lot unsighted that realizing these straightforward aspects conjointly becomes tough for the traders. Determination and action ought to add synchronization.
    Very much practically well said. If we just have the strong determination on mind and this is not practically implemented in any trades then i find that it is of no use for the traders to have such strong determination. Its true that synchronization of thought and action is needed for obtaining better trading result.

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  10. #19
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    Yes there area unit these kind of queries however you furthermore mght got to accomplished the actual fact that adherent comes with observe. some traders do not understand this however the number of losses you create is directly proportional to your discipline level. Losses assist you to find out and that they cause you to higher as merchant as a result of you recognize that emotional feel that is related to losses and then you are attempting to avoid it within the future.

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  11. #20
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    I think discipline is a matter of time. At the beginning time no trader can be trade in a good discipline. But after having some good experience they realized the importance of discipline and it just need to time to be discipline. However there are some traders who didn't follow any trading discipline but they are trading for couple of years.

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