Perhaps no consequences in the short run. But the trader runs the risk of developing a wrong habit which will have serious consequences in the long run.
Trade safe and prosper.
Or you could just try and treat this as a business and not as a joke. Why are all of the problems with the people, and not the techniques used? A glaring pattern in the retail community
Shall we focus on the theme of this thread: Sharing how we can improve as traders?
Trade safe and prosper.
I agree. I strongly believe that you must follow your trading plan and set of rules and not give in to the simple impulse to enter. I think that your trading strategy should be based on a discipline and intelligent rational decisions. I am not that sure entering into a demo account to give in to the urge (as written bellow by gmctwonine) is the best decision. I usually try to overcome so that in the future I avoid this from happening.
Very much in agreement, mate! Moving on to the theme of this thread. What has any member of this forum learnt last week for better trading? For me, last week I learnt to incorporate another set of S/R levels to my levels, I called them minor S/R levels. They relate to my setup time frame rather than the bigger S/R levels based on the weekly time frame.
Trade safe and prosper.
I think that one should analyze every situation on the market before opening a position. That way even unexpected movements do not necessarily become a bad thing.
Just sharing
What could you learn from this video?
Trade safe and prosper.
Just sharing
Chasing the markets can be perilous. If you want to effectively trap the markets, you donât wait until the markets open. You donât do it during the markets. You do it in a disciplined way involving pre-market opening analysis and define clear conditions and criteria which price action must meet as you wait for the markets to meet them.
Trade safe and prosper.
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You have two ideas competing to be the solution to a particular problem or objective. Be explicit with what the deciding factors are. Backtest thoroughly for a conclusive result.
John
We donât count on luck.
Yes, testing alternative approaches or solutions is important. As is using appropriate criteria in the testing.
Trade safe and prosper.
I am new to his forum but not new to Forex. Only one thread brought me here, but this seems to be a very nice forum for interaction. Today I have learned that when a Forex pair moves swiftly to a new high, it usually in most cases bounce back a little within 14 hours. How frequent does that happen and how do I take advantage of it? The tendency of a pair bouncing back depends on what caused it to spike in the first place and whether there is a news event scheduled to take place within the hour that would affect the pair. So I have learned to pay attention to multiple news events in one day.
Very good observation. However, beware of the time frame you are watching. If you are watching an intra-day or low time frame you may be sold a dummy. Yes, you can get good results with daily, weekly and monthly time frames.
Trade safe and prosper.
Just Sharing
I will learn daily and be master of my trade.
Whatâs the first thing you look for when you open your charts?
A lot of hype has been made about screen time. That a trader needs a lot of screen time. Really? If a trader spends a load of screen time without being focused on specific things and without identifying and assessing how they are progressing, is that what screen time is about? Imho, the emphasis should be on quality and focused screen time demonstrated in improved competence as a trader. What do you think?
Trade safe and prosper.
Getting skilled in structure-based trading is one such route to take.
Trade safe and prosper.
Presently I am taking a short break, I have suffered too much loss and now want to learn it more so that I could improve my trades further,
A very wise decision. Wishing you success in this. Hope you learn to trade safe and prosper.
Yeah, it is better to know that when to have a short break and when your trades are not improving. Thus I have taken a short break to learn the Forex Trading and improve my trades.
Thatâs nice. Thank you. It can be supportive for avoiding unfortunate loss in particularly the market moves at random.