Important trading tips for a forex trading!
Page 1 of 8 12345 ... LastLast
Results 1 to 10 of 80

Thread: Important trading tips for a forex trading!

  1. #1
    Banned
    Join Date
    Jan 2014
    Posts
    7,034
    Promo (¢)
    0
    Thumbs Up
    Received: 212
    Given: 392

    Important trading tips for a forex trading!

    There are several important things those we have to keep in our mind at the time of trading. Its not very easy to become a successful trader in this field. I am learning in this field since more than 8 months now and I am very thankful to all Robo forex forum members, admin, and moderator's for that. Here are some of important trading tips are follows:
    1. Knowledge is Power; When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.

    2.Trading for Wrong Reasons; Don't trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, it's probably because you can't see the trade to make, so don't make one.

    3. Risk Reward; If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread you're trading on, it's more likely to be 1-4. Play the odds the market gives you.

    4. One cross is all that counts: EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time — if EURUSD looks good to you, then just buy EURUSD.

    5. Determination; Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a trade's life, you are more than likely to suffer worse moves against you.
    Source: earnforex.com/articles/forex-trading-tips

    Not allowed!
    Last edited by Value trader; 01-28-2015 at 10:23 AM.

  2. #2
    Registered user Hukam's Avatar
    Join Date
    Jan 2014
    Posts
    8,693
    Promo (¢)
    7,140
    Thumbs Up
    Received: 251
    Given: 504
    These points can help us to grow our skill in this business. Basics of forex market is very important to understand because no matter in which business we are investing our capital we have to learn basic things first. Along with trading for wrong reasons is like wasting our real hard cash money for no reasons. We just want to make buy and sell and want to play game that's bad.

    Not allowed!

  3. #3
    Banned
    Join Date
    Jan 2014
    Posts
    7,034
    Promo (¢)
    0
    Thumbs Up
    Received: 212
    Given: 392
    Check my last point also sir as I mentioned above that we have to stick with our trading determination once if we are taking any decision then next step will be to stick our decision we don't have to change our decision. No matter our stop loss triggered or not just have to stick with our trading strategy. Its a good way to boost our knowledge in forex

    Not allowed!

  4. #4
    Banned
    Join Date
    Oct 2013
    Posts
    11,332
    Promo (¢)
    0
    Thumbs Up
    Received: 243
    Given: 193
    make sure they are not under the emotion before enter the market or during in the market, because we have the reasons to enter the market for making business and not the others, so traders have to keep cool the mind and passion .
    this is the way to reduce the risk from unwanted situation, or if not, it is better to stay away from the market until we get ready for it

    Not allowed!

  5. #5
    Banned
    Join Date
    Jan 2014
    Posts
    7,034
    Promo (¢)
    0
    Thumbs Up
    Received: 212
    Given: 392
    Quote Originally Posted by newentry View Post
    make sure they are not under the emotion before enter the market or during in the market, because we have the reasons to enter the market for making business and not the others, so traders have to keep cool the mind and passion .
    this is the way to reduce the risk from unwanted situation, or if not, it is better to stay away from the market until we get ready for it
    Yeah we can't enter in the market if we all are not ready for it so its very important to prepare well for our trading. I never open any position when I not feel much better to open it, its very important to check a good risk and reward ratio in trading all the time. Controlling emotion is one of the hardest task but getting regular experience we can reduce the slowly slowly

    Not allowed!

  6. #6
    Banned
    Join Date
    Nov 2013
    Posts
    14,851
    Promo (¢)
    0
    Thumbs Up
    Received: 105
    Given: 14
    Having a good support in the market will all start by the trader himself. Learning is the first thing, the stability of what the trader is learning will follow. Forex traders should adopts what is right at all the time in the market, and they should try to understand the logic in the market trading, this is very important for the trader that wants to progress.

    Not allowed!

  7. #7
    Banned
    Join Date
    Aug 2013
    Location
    State Himachal Pradesh
    Posts
    9,461
    Promo (¢)
    0
    Thumbs Up
    Received: 321
    Given: 542
    There is no earning without any learning in forex, you explained in your first point that knowledge is the main power in this business or in any other field, Without any good knowledge its not very easy to gain profit in forex, we can make money by luck some time but if we want to a long term success then its very essential to learn in a systematic way

    Not allowed!

  8. #8
    Registered user techboy's Avatar
    Join Date
    Aug 2013
    Posts
    6,958
    Promo (¢)
    0
    Thumbs Up
    Received: 81
    Given: 2
    Knowledge is very essential to succeed in trading, then experience comes next, there are traders that do very good in demo but fail in real account, its because emotions takes effect when trading a real account, that is why after trading in demo account, a trader must use a small deposit first when practicing in real trading because he does not know how he reacts in real market situations. Its easy to say I can be a discipline and consistent trader but it is really difficult to do such things when you are trading real account, we can learn all the basics and theories in trading, but we need to apply it in real market conditions, otherwise we will stay in the losers bracket.

    Not allowed!
    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  9. #9
    Banned
    Join Date
    Jan 2014
    Posts
    7,034
    Promo (¢)
    0
    Thumbs Up
    Received: 212
    Given: 392
    Quote Originally Posted by Khimi234 View Post
    There is no earning without any learning in forex, you explained in your first point that knowledge is the main power in this business or in any other field, Without any good knowledge its not very easy to gain profit in forex, we can make money by luck some time but if we want to a long term success then its very essential to learn in a systematic way
    Yes friend you are saying right, without any knowledge there is no success in this business, power is the key of success, and we need knowledge everywhere, even in our family we learn regularly from our parents same like that in forex we have to get and more and more knowledge so we can say that knowledge is a universal process in itself

    Not allowed!

  10. #10
    Banned
    Join Date
    Jan 2014
    Posts
    7,034
    Promo (¢)
    0
    Thumbs Up
    Received: 212
    Given: 392
    Quote Originally Posted by silverlady View Post
    Having a good support in the market will all start by the trader himself. Learning is the first thing, the stability of what the trader is learning will follow. Forex traders should adopts what is right at all the time in the market, and they should try to understand the logic in the market trading, this is very important for the trader that wants to progress.
    Yeah I am agree with you, until we will not try to learn in forex till then no magic can help us to make money in forex, only our hard work and proper learning will help us to grow nicely in forex, This is a long progress where we have to learn within a good planning. We should have a better market understand and logic for sure too

    Not allowed!

Page 1 of 8 12345 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •