Forex trading should be taken as a business
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Thread: Forex trading should be taken as a business

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    Forex trading should be taken as a business

    I wonder why so many traders are losing in the forex market, and there came an answer to me, its definitely because they are not taken forex trading as "a business". Although, there are freedom of everything in forex trading, but there is never a misuse of this freedom to the benefits of the trader. This is what traders should think before they do anyhow in trading. Forex trading is not regulated when it comes to its participants, that is why so many traders do not know the ethics that contain in forex trading. It does not matter if the world trades forex, what does matter is how many traders are successful in the trading and earning live earnings in the forex market.

    VIEWING MARKET IN THE RIGHT WAY: The first step to be done by the trader is to "view the forex market in the right ways". You will have to have a feasibility study about how you want your trading career to be, and how you will achieve the same. Take trading serious and make a disciplined determination to your trading rules. Never go again your trading style and have your own trading journal.

    Also, try to review all your work in the market weekly, preferably during the weekend, and set to correct the mistakes you made in the previous weeks. Make sure that you do not over trade or allow greed to rule in your trading, because the greed is the one that will first set in before the real emotional trading comes in; most especially if the trader has also acquired so many losses initially.

    Set your daily, weekly and monthly target, but never let it to be unrealistic to achieve, unrealistic target could make some traders to be too anxious, thereby causing them to over-trade. In fact, if you want it at the best, use the average of the pips you have gotten for long period of time for daily, weekly and monthly to set this target for either the day, the week or the month targets. Also, bear it in mind that you can never meet your target all the time, it is not possible, there are times that the market will behave beyond a good condition, and in this case you will move on, this is actually part of trading.

    You should set your trading parameters all the time, know your stop loss and the take profits. Let the risk reward ratio be or more than 1:2, because that is what will bring good trading reward to the trader in light of good trading management. Forex traders should not do a lesser risk to reward because it might not make the profits of the trader to be pronounced.

    Above all, always try to exercise a good conduct in your trading, knowing that forex trading is not a quick place of making money, you will have to work for the money that comes to you. The survival of the fittest is what keeps the market active, and your good conduct is what will help in this risky business. HAPPY TRADING!

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    Really, forex trading is a business. Some will call it a job, while others will say it is a gambling, but I do not care. What I know is that banks and large corporate bodies are into trading of forex, this means that it is a business, and the way you take this business will determine the success you can get from it, either carnally or professionally.

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    Quote Originally Posted by silverlady View Post
    Really, forex trading is a business. Some will call it a job, while others will say it is a gambling, but I do not care. What I know is that banks and large corporate bodies are into trading of forex, this means that it is a business, and the way you take this business will determine the success you can get from it, either carnally or professionally.
    Of course mate, this is very wonderful online trading business. As a largest online trading business should take more trading learning concept about this market. when a trader can be taking more learning tips or trading strategy then will be able to making a huge money from this market. Be first with patience and take more trade relate learning tips on real market.

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    Well, Nice thread as usual, I would like to talk about the targets that a trader set for his daily, weekly and monthly basis, this is very much important for all the disciplined trader to set the targets and make trading plan before he starts trading. Overall thread is nice and that's why I just put the light on the points in which I was interested.

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    For me, forex is a business. Same like any other business then we will face the risk too which will make us losing the money if we don't take it seriously. If we really want to make money from this business then we must learn how to make money consistently and properly first. If we don't do that then we might end up with loss.

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    it is wrong concept for them who take forex trading is as their hobby, game or gambling, and i guess they just waste the time for nothing because they will not learn from the experiences, so hard for them to grow up and just wait for lucky,
    and i see that some points above are really helpful to understand by them who want to take forex trading seriously

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    A good mind of the forex traders should not be as a gamble or an another thing else, it should be as a business, this is the way I believe that forex traders will move forward in their trading career. If you simply take this forex has a business, probably you will have more pride in doing it because it is worth doing in that manner.

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    This is the first thing that people should know that this is a business, an executive business, one should not take this as a game, gambling, part time money making opportunity, overnight rich scheme, quick money making scheme etc, but this is projected as these things which I have mentioned above, because these are the attractions that attract people to this business and brokers know this thing very well.

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    Quote Originally Posted by mehwishraheel View Post
    This is the first thing that people should know that this is a business, an executive business, one should not take this as a game, gambling, part time money making opportunity, overnight rich scheme, quick money making scheme etc, but this is projected as these things which I have mentioned above, because these are the attractions that attract people to this business and brokers know this thing very well.
    It s never a thing that should mix up with gambling, gaming or the likes, there are so many traders that are thinking forex is a playing ground, some will even call it a money making machine, all those words and idea are not professional, it could make you to trade with carefree, and at the end you will think it is the fault of the market, whereas it is yours actually.

    Quote Originally Posted by newentry View Post
    it is wrong concept for them who take forex trading is as their hobby, game or gambling, and i guess they just waste the time for nothing because they will not learn from the experiences, so hard for them to grow up and just wait for lucky,
    and i see that some points above are really helpful to understand by them who want to take forex trading seriously
    This is far from being an hobby, but i do not think it is a crime to use it in the way you want, if that is the way that is comfortable for you in order to bring the best out of you. It is only mandated for traders to take it serious, it could be a business you really cherish, but be serious doing it.

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    Quote Originally Posted by mehwishraheel View Post
    This is the first thing that people should know that this is a business, an executive business, one should not take this as a game, gambling, part time money making opportunity, overnight rich scheme, quick money making scheme etc, but this is projected as these things which I have mentioned above, because these are the attractions that attract people to this business and brokers know this thing very well.
    This is a right note for all traders, the forex market is the best that ahs happened to many that takes it as the business. Having this business reasoning as a game will not bring out the seriousness in the market, and forex is such a business that need patience and tolerance of the trader to have the success, it is never easy, until the trader takes it so.

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