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Wednesday, December 28, 2016
FBM KLCI - higher on mild rebound
Stocks on Bursa Malaysia ended mixed yesterday on lack of catalysts. Window dressing activities in selected heavyweights helped Read more >>
Brilliant posts! I wish you could continue sharing your indepth knowledge of the market.I also like to suggest that newbies and old traders that still struggle should review their strategy and work on their money management skills. Many traders lose disastrously because they do not respect money management rules and trend.Money management says risk less and trade less while trend says love me for your own good.
Another thing that troubles many traders, even the old timers, is the concept of risk-reward ratio.While it is conventional to stick to a particular risk reward ratio, especially when reward : risk = 2:1, this should not in any way over-ride your profitability. At times you may even have a stop loss that surpasses your take profit in magnitude. What matters is that you risk consistently.That means you should let your risk be a fixed percentage of your equity and not just fixed magnitude of pips.
There are two major methods of analysing the forex market which are the fundamental and technical analyses.Technical indicators abound in number but one of the most effective ones is fibonacci retracement.There are so many ways to use fibonacci tools.Another effective way is to use it to determine the overbought zone in a downtrend and to find oversold area in an uptrend.
Greed, excitement, euphoria, panic or fear should have no place in traders’ calculations. Yet traders are human beings, so it is obvious that we have to find a way of living with these emotions, while at the same time controlling them and minimizing their effect on our lives. That is why traders are always advised to begin with small amounts. By reducing our risk, we can be calm enough to realize our long term goals, reducing the impact of emotions on our trading choices. A logical approach, and less emotional intensity are the best forex trading tips necessary to a successful career.
An analytical approach to trading does not begin at the fundamental and technical analysis of price trends, or the formulation of trading strategies. It begins at the first step taken into the career, with the first dollar placed in an open position, and the first mistakes in calculation and trading methods. The successful trader will keep a diary, a journal of his trading activity where he carefully scrutinizes his mistakes and successes to find out what works and what does not. This is one of the most importance forex trading tips that you will get from a good mentor.
5 comments:
Brilliant posts! I wish you could continue sharing your indepth knowledge of the market.I also like to suggest that newbies and old traders that still struggle should review their strategy and work on their money management skills. Many
traders lose disastrously because they do not respect money management rules
and trend.Money management says risk less and trade less while trend says love
me for your own good.
Bosun
FxGlory remains my best broker since 2014.
Another thing that troubles many traders, even the old timers, is the concept of risk-reward ratio.While it is conventional to stick to a particular risk reward ratio, especially when reward : risk = 2:1, this should not in any way over-ride your profitability. At times you may even have a stop loss that surpasses your take profit in magnitude. What matters is that you risk consistently.That means you should let your risk be a fixed percentage of your equity and not just fixed magnitude of pips.
Bosun
FxGlory remains my best broker since 2014.
There are two major methods of analysing the forex market which are the fundamental and technical analyses.Technical indicators abound in number but one of the most effective ones is fibonacci retracement.There are so many ways to use fibonacci tools.Another effective way is to use it to determine the overbought zone in a downtrend and to find oversold area in an uptrend.
Bosun
FxGlory remains my best broker since 2014
Greed, excitement, euphoria, panic or fear should have no place in traders’ calculations. Yet traders are human beings, so it is obvious that we have to find a way of living with these emotions, while at the same time controlling them and minimizing their effect on our lives. That is why traders are always advised to begin with small amounts. By reducing our risk, we can be calm enough to realize our long term goals, reducing the impact of emotions on our trading choices. A logical approach, and less emotional intensity are the best forex trading tips necessary to a successful career.
Bosun
FxGlory remains my best broker since 2014.
An analytical approach to trading does not begin at the fundamental and technical analysis of price trends, or the formulation of trading strategies. It begins at the first step taken into the career, with the first dollar placed in an open position, and the first mistakes in calculation and trading methods. The successful trader will keep a diary, a journal of his trading activity where he carefully scrutinizes his mistakes and successes to find out what works and what does not. This is one of the most importance forex trading tips that you will get from a good mentor.
Bosun
FxGlory remains my best broker since 2014.
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