Reckless but Real
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    Rookie rinaji's Avatar
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    Reckless but Real

    It was reckless but real that occur in the forex trading business, This is based on my own experience and from the experience of my friends, or perhaps experience of almost all traders at the level of the newbie or beginner.

    Let's see how a classic events that often occur.

    Preparation.
    Before we start trading, may we pray. Hope that analysis, prediction, and the signal is really working well. we had promised to ourselves for discipline of the trading system, although in our hearts, we know the profit that we got in yesterday is depends on lucky, we will wait patiently, hoping, and anxious, because there is no confidence that the trading system used can sometimes give a profit, sometimes can make stress and confusion.

    According to the rules of trading system, we open a sell position according signal, and wait patiently, we waited in front of the computer or laptop,



    Then, after form a new candlestick, our position isn't in profit, but was floating loss, we control our breath and calm down in our heart, and say: this is just a bluff, before finally going down.



    Then formed a new candlestick , but the price doesn't go down, but instead formed buy signal, and we cut losses our sell position, and switching to a buy position.



    And then formed a new candlestick, a sell signal appears again,



    we were confused and anxious. but we quickly cut loss buy, then open sell position again, but at this point we started to tremble and wanted to get a big profit to BEP, we multiply the lot size. this time that we begin to lose our common sense, we began inconsequential, hoping to be able to get maximum profit, Because we are convinced that this is the break out candle.



    Unfortunately, the market is moving up,



    we get confused and stressed. it makes us worse off, and open a new sell with double lot again.



    But what happens next? formed a buy signal again, now we are not only confused and stressed, but also angry and frustrated. because we know exactly, that the steps that have been done really impossible to replace, while to open a new position again? Not enough free margin.



    Now we also know exactly that we are trapped by the forex market. when we begin to think. ... market suddenly shot up quickly, and we lose all the margin without the time to think.



    This is a classic story and reckless. Trading like this is just a gamble. Do not always be a victim of entrapment by the market, but be a trapper for the market. lol


    And I often remember my bad experience like this, I always get stuck of this situation over and over again. There are several factors that keep us stuck in this situation, you might be thinking what the cause, we should always do the evaluation, but it is actually difficult to get out of this situation, and I know that I can get out of this situation is when I already have experience of almost two years in forex. If you are still in this situation, then you should do a total evaluation, because it will make you always bankrupt.

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    If you lose, be patient. If you win, stay humble

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    it was my experiences and now, i face them too,,,and several times i blew up my accounts, and also i have experiences like this,
    i paid attention for time frames and saw the true trend, , and tried to follow it, but the price still against me and touch my SL, and then moved back to my first analysis, and then , i tried to set SL with a wider number, again, the same mistakes came up and touched my SL , and then moved back to the first position and even made some profit and if my SL was not touched,

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    Registered user Hukam's Avatar
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    Great thread mate you are saying right that if we are following only candles without any proper analysis then its very harmful for us and we will never be able to take the full advantage of this business if we have to do our best trade in the market then we have to use many other analysis and tools which will give us more idea about the market patterns and trend

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    . Forex market is never stable and always full of activity. We can never be sure here of anything. This is why we need money management and use a stop loss to save ourselves from big losses.I am using few indicators and chose the one which suits the market conditions. However Even with any indicator we can never be completely sure

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    Trading should be done with care, the trading principles of the trader should be known before anything else. Perhaps, it is better to miss a trade than to be unsure. If I have a pattern that does not fit a strong mind of my trading, I do not do it. This is why it is better to have a pure trading decision, than to lose money.

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    Registered user Hukam's Avatar
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    You are right we dear we have to follow proper risk management in the market. we need a good trading strategy for ourself and after that we have to stick our trading plan too. We don't have to do trade without knowledge anything about the market proper market analysis, proper forex trading education can make us a better trader

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    Well, there is never a perfect system in the market. So, traders should try to limit the way they are doubting at times. And a system like this has more than 70% of winning, what is the fear in this if that is the case. I believe that motivation and determination of trading is what this needs rather than doing otherwise.

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    I think we should test our trading strategy first in demo trading account if anybody want to follow naked trading system then first of all he or she should spend time within demo trading account because we can't test our strategy at once in forex market. And that's true that a good strategy can give you 70 percent of winning ratio in forex

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    Rookie rinaji's Avatar
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    Quote Originally Posted by Khimi234 View Post
    I think we should test our trading strategy first in demo trading account if anybody want to follow naked trading system then first of all he or she should spend time within demo trading account because we can't test our strategy at once in forex market. And that's true that a good strategy can give you 70 percent of winning ratio in forex
    Traders will be able to apply naked trading if he already has a good understanding about the market, and that we can get when we have a lot of experience, actually winning percentage is not able to stand alone, because each trader can have differ risk: reward in the form of Stop Loss and take Profit, 70% winning trades is profitable if we apply at least 1: 1 SL and TP, but if we take 3: 1 SL and TP (eg 30 pips stop loss and 10 pips take profit), then I guess it is not profitable. It usually occurs on the scalper.

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    Oh yeah right sir most of scalper's do trade with this type of trading method that's bad trading system because if our risk and reward ratio is 3:1 then here if we are loosing one trade it mean we are loosing 30 pips and for recovery we have to win at least 3 trade's again but there will be again 30 pips stop loss so our risk and reward ratio should be fair at least like 1:1

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