That is good point . but the third point is point that often ignored for among trader in here , so not suprised any traders can loss too much . every one must realize it to make theirself being think logically during trade in this business
LOL, i know…i do wonder about why some of the top forex companies hand out analysis like its cotton candy and forget to stress that entry is as imp as the exit…
dear friend how i automate that trades??
Hello Asim,
Try to find in the internet programs that will help you to trade automatically. It would be more safely and even bring a profit.
[I]Hope my advise would help you.[/I]
Asim,
There are any number of expert advisors, also known as EA’s that automate your trading…but my suggestion is to stick with manual trading for it’s a safer bet than to trust a third party software…just my two cents…
I am agree with this suggestion too. It is better to trade manually than using EA for making good consideration because if you don’t know how to run the EA correctly (in timing to run and good setting) then EA can cause big loss too so traders need to test the EA before using it, the trial should be around a month (it could be more) to make sure the result of trading.
Exactly, when it comes to third party software like expert advisors, the trader would need to know how to update the robot so that it trades effectively, and as per the strategy. Which is why manual trading is so much better, in the long run. And FYI, most ea’s dont work that well after a few months…
Hi Asim,
So
- finish babypips school
- trade on demo account
- try to read as much as you can about forex
- try to find a mentor
The issue is in bad money management. Ignoring SL and TP setting them in random way lead to consistent losses. There are no bad strategies (unless you click sell and buy without a look on the charts ;)), there are greed traders that work in a hasty way. Try to analyse your losses figure out their cause. Keep in mind that knowing what causes you to lose is part and parcel of any trading strategy.
Good luck!
I agree on stress issue, there are many traders that try to force out the profit from the market. However its not possible, they try to trade without any setups and lose money instead of making money.
Okay, not to split hairs and all that but the most obvious purpose of any trader trading is to make a profit, never mind how small or big it can be. And at times, the stress factor kicks in and out goes rational thought, set ups, strategy, and the works and results in a complete wipeout…
Becoming a good trader takes patience and continue practice. You need to continue gaining knowledge. I also think you should open micro account and start practicing trading using a capital you can afford to lose .
As to why a routine, or checkdown system needs implemented,
A System should be stressfree, and no second guessing.
Check, check, check, click repeat,
It is lack of trading education. The way your mind is set up is not going to help you; thinking about profits without being educated.
A trader cannot make money consistently from forex trading without proper education so yes losing too much is mostly because of less education.
Clearly, losing too much is an indication of less education and ‘‘thinking I know it all’’,I believe even experts and guru’s in forex still learn,practice and build upon their strategies.They keep up on equipping themselves with knowledge instead of beleiving they know it all.To make it successfully in trading you must keep on practicing,learning ,keeping calm and being disciplined.
Loss is common thing in forex but don’t ever loss more than you could afford to take. If Loss is happening more than you could afford to lose, then it is right that it happened to traders who don’t have too much experience and knowledge in forex business. If you are quite experienced in forex business then you would have good trading plan so if you lost which is very possible to happen, then you won’t lose more than you could afford to afford (not losing too much).
For newbie’s Its better to start trading in demo than with real money…
Traders can make money, as good traders wait for opportunity rather than jumping the gun all the time…