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Thread: traders fail

  1. #1
    Abu Salam is offline Banned
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    Default traders fail

    From this market place so many traders fail despite of having powerful trading strategies, because they have no proper money managing plan. the success in Fx depend on money management , so we the traders who are particularly beginners have to emphasis on money managing plan besides acquiring good trading knowledge.

  2. #2
    Milito is offline Member
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    Default

    Many fail because they rush into live trading without sufficient skills and knowledge, if you rush you will fail in no time.
    I would rather not waste any time with a demo

  3. #3
    Abu Salam is offline Banned
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    Generally, novice traders should start from basic level! According to my personal experience, BabyPips School is a good place for start with! Besides, new traders need to open a demo for practicing purpose! Demo is the most decent way of Forex learning.

  4. #4
    Fin Candy is offline Member
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    most of the time i did huge losses when tried to take revenge from this market. this emotions made me loser so many times in here. still i am trying to come out from this worst habit.

  5. #5
    Abu Salam is offline Banned
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    newcomers shouldn't focus on his winning trade percentage, he or she always have to emphasis to minimize risk and never trade with emotions.

  6. #6
    FTS
    FTS is offline Junior Member
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    For sure, the trader should not think just about the profit - it will make trader too emotional during trading, causing underperformance even if the strategy used is profitable. The trader should think about his P&L just as about the figures, not the money. It is important to think about the trading as the process of executing trades strictly according to the strategy. Only in such case the trader would grow as the professional.
    At the same time, winning trade percentage is also important as it helps to understand whether the strategy itself is profitable or not. If it isn`t, the trader should do something to fix it. For example, it could be necessary to backtest strategy using historical data to understand how it would work in long term perspective.

  7. #7
    Angel candy is offline Senior Member
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    Obviously psychology, discipline and patience are the most important aspects in profitably trading your system over the long term, however, a lot of traders don’t even have a system that works.

  8. #8
    Dinh is offline Junior Member
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    Quote Originally Posted by Milito View Post
    Many fail because they rush into live trading without sufficient skills and knowledge, if you rush you will fail in no time.
    At least it is advisable to trade with a demo for a very long time. It requires patience for sure.

  9. #9
    Fin Candy is offline Member
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    Forex trading is a place where we actually come to make money more but become loser ultimately , because of just emotions. *

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