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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. #41
    Trader sumonmollik's Avatar
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    Now a days forex is the world biggest business in the world. Many people make there career from forex. So you need to take this business too much seriously. If you are able to manage your trade in a right way, that time you will able to make huge amount from this business & your career will be developed from forex within a short time.

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  3. #42
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    I concur with you guys, forex trade is a business and should be treated as such, because I was made to understand that a business is any transaction that occurs between two or more persons that exchange commodities with an interest of making profit at the end is known as business( in other words , its also know as trade by bata). So dear if u treat forex as business and it will treat you as a trader, in the other hands, if u treat it as a game it will take u as a gambler.

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  4. #43
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    we must consider forex trading as a business. Forex has a high risk therefore we must be careful in managing. forex trading is very risky and we can loose money in a minute. so it is very important to trade with good strategy and with good decision this will not only secure your money but will also multiplies your investment

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  5. #44
    Trader amjad23510's Avatar
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    Quote Originally Posted by lusyfo View Post
    we must consider forex trading as a business. Forex has a high risk therefore we must be careful in managing. forex trading is very risky and we can loose money in a minute. so it is very important to trade with good strategy and with good decision this will not only secure your money but will also multiplies your investment
    yeah.it is a fact that forex trading is a pure business but some people consider it a game and they play here in market without proper knowledge and experience.such people have to lose money but i think they must realize that forex trading is a business and they need to learn it in order to make some profit.

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  6. #45
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    Forex trading should be taking as a business and not as a hobby or game.Most of the traders who do not take forex trading as a serious business do not make appreciable profit at a consistent level and often ending up having woeful losses.Whatever you are doing to earn your living must be taken serious and with perserverance, diligence andand focus we will definitely get there.

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  7. #46
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    Among the online business forex trading is so unique , it is so profitable and gainful for traders, the money there is also secure, very easy to trade in the market , a lot of people from all walks of life engage in trading, why because trading forex is a good business to rely upon to make living, it is a business we can choose as a carrier.

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  8. #47
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    i assume that everything that involves buying and selling is a business, so as we do in the forex trading platform, we buy money and sell money so it is nothing but a good business that gives good money, but many are not seeing it that way and that is why many traders do handle the business casually not drawing out strategies to use to execute their business, every business man has what is called business plan before he venture into it, if he does not then he has set himself up for failure,if the risk in the business is put into consideration, then it will be enough to handle the business in the right way.

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  9. #48
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    every business man or woman is always very serious, they think , they plan and they strategies, they manage their risk very well and make sure that all things work for them to beat their competitors too so should every forex trader must behave , most of the problems we are having is that we are not approaching this business with the mind of a business people, many are just too casual about this forex business no wonder many are always at the mercy of the market all the time, try to do the business with all seriousness and watch as things change for you too.

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  10. #49
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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.
    actually i agree with you pal it will depend with the way you will take it to succed personally i know forex is business because business is like a way of geting income and in forex i see i get money so i always call it business but in real sense others may take it for granted but the fact is that its business

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  11. #50
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    forex trading is business and should be taken as serious as business because it make us earn a living and it sustains our live since we are able to to meet our neded and even improve our living standards and so it should be managed wisely and taken care of like any other business and also records of profits and losses should be recorded to evaluate the progress of the business

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