Forex trading should be taken as a business - Page 4
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Thread: Forex trading should be taken as a business

  1. #1
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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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  2. #31
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    Quote Originally Posted by Ashviniurs View Post
    I already believe in the true fact that the forex trading business is certainly the best business which can be done online. And am very much serious with each and every aspect of the forex trading business. I can spend as many hours as possible to watch the right trend and then ride on the trend to make some good profits which is worth the money risked from my end. Hence, we all should always make sure that we try to focus on our goals.
    There are several reason why traders should take this as a business, the one of the reason is that it is different form gambling and it is profits massing at the same time. There are so many traders that relies on fore trading for survival, if it is a gambling, could they do that? I think the answer to that is know. So, the trader should plan his ways out and be serious.

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  3. #32
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    Quote Originally Posted by cozard007 View Post
    Also, I realized that scalpers might lose more and gain even more.
    On false single trade can ruin all of the profit earned by trading scalper. Failure trader scalper may can get many pip and many profit in small time frame, trader scalper can get many much more profit in small timeframe, but in any unconditional situation, scalper trader can get big loss, and this loss can ruin all the profit.

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  4. #33
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    [lang=id]a trader need to know what is exactly forex trading, and it is wrong concept for them who think that forex is a game, gambling or hobby, they have not yet understood it ,
    a trader needs to take it as a business where 100 % responsibility is needed, and so that's why trader have to prepare themselves with well before enter the business[/lang]

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  5. #34
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    Forex is risky- but profitable. We can consider forex as the most authentic business. But we need to become experienced and make our trading capital larger. Large trading capital can bring us large profit- it is true. But it is also fact that large trading capital can become the cause of huge loss. Each and everything depends on our trading skill and knowledge. I can say about the importance of TP and SL through which we can able to protect our trading capital from any unwanted hazards.

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  6. #35
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    yes forex trading is international business where we find our income sources and when we work with right planing then we work easily in our trading platform and we work safe it is must for us we take our business with right planing and money management then we make success

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  7. #36
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    forex trading is a very wonderful business. it gives us a great chance to trade here and make huge profit. also here we get huge facilities. we can trade here freely. we can do this business from anywhere and at any time in the world. also the most important thing we can make huge profit from here.

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  8. #37
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    yes, we can take forex as a business. many students and service holder can take it as a per time business. with enough knowledge and experience many educated person can invest and can earn enough money from here. many people can take as their only one profession. many person can build their career in forex.

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  9. #38
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    Quote Originally Posted by imtiaz007 View Post
    yes, we can take forex as a business. many students and service holder can take it as a per time business. with enough knowledge and experience many educated person can invest and can earn enough money from here. many people can take as their only one profession. many person can build their career in forex.
    Some newbies may not take forex trading as seriously but i think it is big mistake. Forex trading is a great business and we need to take it seriously because it is the only way to earn good profit from this field and we can not get our aims in the business without proper study and trading strategies.anyone can work in forex as a part time trader.

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  10. #39
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    forex is a business and so the trader should take it as a business and take forex seriously not just playing with money.so if the trader take forex as a business he will succeed and make money but if he takes it as a game he will loose his money. forex is not easy and will give money for the traders that respect it and trade with careful.

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  11. #40
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    yes i agree with you very much. forex trading is a really a very profitable and serious business. we must not take it lightly or treat it as a game or something. because in this business we have learn and practice more and more to gain success in our trading. if we depend on guessing or our luck then we must get loss here.

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