Forex trading should be taken as a business - Page 7
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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. #61
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    I take forex trading as my business, learning and have invested some amount of money in copyfx accounts, I see forex trading as being one of the best business because I see it as the business that I can be part of and then at the same time I can get to do other little jobs because it supports the long term mission of trading.

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  3. #62
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    This is a real business not just a job. Forex trading is a real business. If you call it a job that means you work and get paid not what you invested and waiting for result. Forex trading is really a good and transparent business if you know the rules and regulations everything is working for the good. Forex is a business that you knowledge and tolerance before you can achieve your goal. Forex is a business not just a job.

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  4. #63
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    Forex trading is one of the good and descent business in the world not just a job. Some people call it a gambling job because of the it is a business of probabilities either win or lose that is why it is called gambling. Forex business is a open business you will see what is going on before you can place your trade not black market. Forex business is not what you can just job or gambling it is just they do not what it takes to be a good forex trader. Forex trading is a business a clean one it called.

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  5. #64
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    Quote Originally Posted by cozard007 View Post
    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.
    Yes that's right, it's business, not a place to fantasize, we have to do it well and clearly, have a clear plan, have clear targets, and have clear notes. Just as we have a conventional business. A trader will succeed if he does everything he does as a businessman.

    All businesses have risks, we can not impose to always get profit, this is the law in all businesses, our profit is dependent of market conditions. My parents are a trader in a traditional market, so I know how the situation becomes a trader, sometimes we get profit more than our monthly target that we set, sometimes we get profit less than the monthly target that we set, and sometimes we get loss in certain situations or there are unpredictable and uncontrollable events. It happened in a traditional trade too, I know all about it.

    Quote Originally Posted by cozard007 View Post
    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.
    I don't agree with that

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  6. #65
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    yeah you are right many people argue with me that forex is not a business is part time job but ir refuse and make them understand that forex is a business nor a job becoz in the job you need to work under some senior but in forex you are your boss <3

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  7. #66
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    Yes Forex trading is not a game played by child.It is the business in which we set goals and achievements on daily basis.Like every business it provides you capital so one must take it as a business by making strategies and working on them.

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  8. #67
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    Definitely this is the only way to be successful in this market because if you take it as a gamble or a game then you will obviously lose a lot of money and at the end you will realise that only being professional and mature in this market is the way to move about forward. Otherwise you will always remain successful because most of the people are here only to lose money and wash away.

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    If you Try, You risk Failing: If you don't, You ensure it.

  9. #68
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    I have some friend use forex trading market as business to make much money but for me I use the forex trading market as hobby not as job but if you succes in this and you have good strategy that you can make good profit every month you can take it as business so thank you friend for share this with us

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