Well said, a seat belt saves your life in case of accident, so an injured body is much better than a dead body. In the same way SL protects your account from MC and a small loss is better than a wipe account.
A great trader is the one who will always make out opportunities where none exists in the market, and the one who survives all market conditions and still makes profits.
No one will give you a punishment for getting an MC, but the important thing is that if you have some inner feelings and care of your team mates, you will never want them to face the circumstances just because of your mistakes. That's what humanity is, and this contest will promote it.
A losing position is like a car with no brakes, that spiral out of control in the highway... If you don't put a stop to it, it may consume your trading account in no time. So please make sure you have stop loss in place, so that it can save your equity... even a cut loss will do.
When we get two salaries, one from Forex and the other one from office, then we compare them and realize how much effort I spent in the office and how much at Forex, similarly, we compare that in return how much the office paid us back and how much the Forex did. Then we smile and thank the Forex for ...
Tip is a ball, the harder you fall, the higher you bounce.
When the market gets greedy, I get nervouse and stay away. When the market is nervouse, I get greedy.
A spammer will spoil his finger typing and typing on his keyboard, but a promising trader will do the opposite.
The one who does like that, sooner or later recovers all the losses, and the one who just waits for the market to recover his losses, gets crushed. That's the way this Forex trading works, and sooner or later everyone understands it either after blowing his account once or more than 10 times.
If the indicator helps you understand the market action better, then it's good for you, the aim is to be a better trader each day no matter the type of indicators you use or use of no indicators. The truth is judged by the trading results!
It's true that experience teaches us to accept the fact that trading is a mixed bag of profits and losses, and we should work hard to have more profits instead of losses. Experience has also made me eliminate the fear of pulling the trigger as well as greed elimination.
Success in forex or any other career out there is not offered on a silver platter, its the result of hard work, dedication, passion and the power of repetition. Thees is no shortcut dear trader, but the efforts will be paid soon.
Money management plays a vital role in Forex Trading. Without it, it's like a blind running while crossing a highway road. If he is lucky, he will survive and cross the road without any accident, but if the luck doesn't play its part, he will get crashed by some car or a truck. In the long ...
If I say that I need luck, where can I get it? But if I say that I need skills in the market, at least I can work and get skills from practicing, but I can not practice and get luck anywhere. Luck to me is out of the way.
First the US, now the EU, they all wait until the last minute of the last hour of the last day to come up with a plan. It's like ice-skating on a thin layer of ice. Eventually, it will crack and they will fall through it and drown... or maybe that's exactly what they want to happen.
I'm sure all of the strategies are profitable, but the key is in the hands of us, whether we are able to master the psychology and the way we are trading in accordance with that analysis.
Forex is a lovely unicorn when you trade with a trend, and an ugly beat when the trend is going against you!
Suicide or excessive risk is not a courage. The hero has to come from the battle alive and with good results.
It is not complicated, but very hard to make a consistent profit. Why does this happen? Forex is so strange, simple but hard...
Greed is like a monster, who always waits to kill your trade when you get crazy for bigger profit. This challenge should be handled with patience and non shifting attitude for risk management.
A trader who uses a complex analysing strategy will spend all the time analysing and won't have enouph time to trade, but a simple strategy can give you profit and time for yourself.
The world of Forex has a big treasure. To get it, you have to walk the way full of danger and to skip up to the great treasure. You should learn well before becoming a small fish lost in the ocean.
Forex is not a get rich quick scheme - you must have patience. Avoid emotional trades and do not trade when you are too upset or too happy, because when you are too upset you might risk your everything, and when you are too happy you don't realize the losses in your happiness.
Essence of luck is a part of the game. Definitely, heroes blow their accounts. Heroes take revenge!
Most of indicators show us just the past. We have to trade in the future.
On a PAMM you have a unique chance to join to the best traders in the world. You should be happy if such a trader accepts your investment, because you need him much more than he needs you.
There is a huge difference between demo account and live account. It's like fighting in "Street Fighter" vs fighting in the real world. In "Street Fighter" you don't feel the pain and many people are happy playing that video game. In the real world, nobody wants to get punched ...
Risk is something that can never be eliminated with every trades. We must learn how to minimize it and must be cautious in entering the market specially if we have less equity.
Everyone can be a trader, but to maintain your existence is very tough, so try to work hard to achieve the best and never quit, because quitters never win and winners never quit.
When you don't use stop loss, you are just like a person who has planned to jump from a helicopter, but doesn't feel the need to using a parachute. I advise all of you to always use stop loss and make sure that you are in this market for a longer period of time still able to trade. Using stop ...