Skill is the mother of all tools in Forex, you need to be skillful and successful in the way you trade, that makes up Forex in general. No matter how much you have, only successful trading will get you to a higher level/account balance growth.
Essence of luck is a part of the game. Definitely, heroes blow their accounts. Heroes take revenge!
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 ...
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 ...
Where there's a trend there's a trade.
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.
Most of indicators show us just the past. We have to trade in the future.
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.
"Bulls Make Money, Bears Make Money, Pigs Get Slaughtered". Come and join me... Slow and Steady...
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 ...
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.
We will not be able to control our risk, if we don't have good money management. The money management is just like a break in a car. We will get into a fatal accident, when our break is not going well or we don't use it properly. Then, we can see the expert traders, they always give more attention ...
It is not complicated, but very hard to make a consistent profit. Why does this happen? Forex is so strange, simple but hard...
Take Forex markets as a battle field and each trade as an enemy. So, when you use an excess leverage, it's like using all your bullets on one enemy. When you get a margin call it means you are out of ammo and your enemy has got you.
When the market gets greedy, I get nervouse and stay away. When the market is nervouse, I get greedy.
Forex course is not a science, because it 's related to speculation. So, we can not use a strategy that can be calculated as mathematics, if we have the talent, then I'm sure it will not take long for us to be able to dance with the market.
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.
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 spammer will spoil his finger typing and typing on his keyboard, but a promising trader will do the opposite.
A plan in Forex is like a sun in your life. Without the plan you will feel that you walk in a dark street, so you must give yourself a time to know what you need to make from this market and how long you can stay with chart.
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.
Experience is the key to success in Forex trading. The longer you stay in this business the more experienced you will become, the more experience you have the more profit you will make.
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.
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.
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.
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.
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.
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 ...
As we all know, its pointless to put ALL the money at risk, chasing the Luck there will be another day to make money on Forex, if today something has gone wrong. But if you put everything at risk, then tomorrow you will have no money to trade with. It's like if you walk your way on rails, and then ...