amcfx Posted December 14, 2010 Report Share Posted December 14, 2010 A big problem I always encounter when I trade is I don't know when to get out of the trade or close my position. I get caught up with the thought that the price will go down more or go up further and end up getting a margin call this is one-sided thinking and forex has 2 ways ether get horned by the bull or get bitten by the bear. So I've lurked in chatrooms, talked with other experienced trader and this is the solution I came up with. Every now and then make two analysis for a pair your trading in. One bullish and bearish analysis. This helps a lot and may tell you whether you should hold the position or close it to prevent further losses. Link to comment Share on other sites More sharing options...
pjbabia Posted December 18, 2010 Report Share Posted December 18, 2010 Keep away from the bull and the bear, that is the best solution. Hehehe. Well maybe we should try to understand more about the ups and downs of the prices. We need an expert's expertise in order to predict the price. I am not a master of this neither an expert that is why we need such people. Link to comment Share on other sites More sharing options...
amcfx Posted December 18, 2010 Author Report Share Posted December 18, 2010 Yes understanding the ups and down would prove useful and you won't need expert expertise, you simply need to have your own system of analyzing the market chart, personal analysis can work well and also may not be applicable after a certain period of time. For example, when you woke up you made an analysis then opened a long, then after (let's say 8 hours from waking up) your analysis is no longer applicable the market changed trend and when you logged in you see a BIG RED in your pips. So I encourage you to make and update your analysis from time time. For myself I update mine every 4 hours for the reasons I have stated above. This helps a lot and may tell you whether you should hold the position or close it to prevent further losses. Link to comment Share on other sites More sharing options...
Andry Posted December 24, 2010 Report Share Posted December 24, 2010 @pjbabia I am disagree with you friend. There are some traders who liked to use trending time (bearish or bullish) because if we can analyze well, we can take many advantages from the condition. But we must be ready with the risk too. If we wanted to lower the risk, we can use lower lot size so we can learn how to take profits in trending time. Link to comment Share on other sites More sharing options...
pjbabia Posted December 26, 2010 Report Share Posted December 26, 2010 I understand. I may have misunderstood your positions. Ok, i am aware that i am not that good trader than both of you. I should try to study well so that i may understand every corner of forex trading.. Link to comment Share on other sites More sharing options...
Andry Posted December 26, 2010 Report Share Posted December 26, 2010 @pjbabia No friend, I am newbie too. That was just additional informations which I ever got from some sources. So I am not more expert than you, I just shared what I knew. If you have another opinions, it's okay. Each trader has own trading style. Link to comment Share on other sites More sharing options...
cnbc Posted December 26, 2010 Report Share Posted December 26, 2010 @pjbabia No friend, I am newbie too. That was just additional informations which I ever got from some sources. So I am not more expert than you, I just shared what I knew. If you have another opinions, it's okay. Each trader has own trading style. i agree with you. every trader have their own style. i think one more tip should be added. do not try to follow other strategy, because it might not suit you, but learn it and find your own style. what do you think mate? do you have any other tips for newbie like me? Link to comment Share on other sites More sharing options...
Andry Posted December 26, 2010 Report Share Posted December 26, 2010 @cnbc Yes that's good opinion, We shouln't follow another trader's strategy without trying it for ourselves because it can work for him but it can't work for us sometimes if our style is not same. Another tips, I am newbie too friend so the other tips maybe we must learn to some more forums. Do you know another forum which talked about forex more detail? Link to comment Share on other sites More sharing options...
amcfx Posted December 26, 2010 Author Report Share Posted December 26, 2010 i agree with you. every trader have their own style. i think one more tip should be added. do not try to follow other strategy, because it might not suit you, but learn it and find your own style. what do you think mate? do you have any other tips for newbie like me? Well you can copy a strategy by someone else. You just need to add your special touches for it to work better for your needs. Many strategies I've read are but improvements of one after another. P.S. cnbc is not a newbie hehehe Link to comment Share on other sites More sharing options...
cnbc Posted December 26, 2010 Report Share Posted December 26, 2010 @cnbc Yes that's good opinion, We shouln't follow another trader's strategy without trying it for ourselves because it can work for him but it can't work for us sometimes if our style is not same. Another tips, I am newbie too friend so the other tips maybe we must learn to some more forums. Do you know another forum which talked about forex more detail? i don't know other forum that talked more detail about forex. in my opinion, forum is good for increasing knowledge, but other knowledge, you have to find out your self through experience. what do you suggest to become good trader? how to avoid emotion matter, whether too perfectionist or too much lose and want a revenge? Link to comment Share on other sites More sharing options...
pjbabia Posted December 26, 2010 Report Share Posted December 26, 2010 i don't know other forum that talked more detail about forex. in my opinion, forum is good for increasing knowledge, but other knowledge, you have to find out your self through experience. what do you suggest to become good trader? how to avoid emotion matter, whether too perfectionist or too much lose and want a revenge? yes indeed, forum is the best place to gain knowledge about anything else, where we can ask our queries and expect a reply especially about forex trading. There are so many other websites forums and blog who talks about forex. There are paid to post forums and many more. Link to comment Share on other sites More sharing options...
Andry Posted December 26, 2010 Report Share Posted December 26, 2010 @cnbc I think good trader is trader who wanted to learn more and more. In forex trading, we must have many times that we used to learn and practice because it will help us to master forex faster than other. That was only my opinion. To control our emotion, I still tried to find a way to do that now. What I can do now just close the platform when I can't control emotion :D Link to comment Share on other sites More sharing options...
cnbc Posted December 26, 2010 Report Share Posted December 26, 2010 @cnbc I think good trader is trader who wanted to learn more and more. In forex trading, we must have many times that we used to learn and practice because it will help us to master forex faster than other. That was only my opinion. To control our emotion, I still tried to find a way to do that now. What I can do now just close the platform when I can't control emotion :D in my opinion, good trader is a trader who really know what he/she is doing in his/her trade. she/he can manage well of everything, so his/her investment will increase rapidly with small sacrifice. he/she also act like what he/she has to do and not becoming arrogant or too cookie because of his/her successful trade history. he/she still want to learn and learn from others, even from newbie. Link to comment Share on other sites More sharing options...
Guest phoenix88 Posted December 28, 2010 Report Share Posted December 28, 2010 Good trader is a trader who can survive for long period of time. Link to comment Share on other sites More sharing options...
Andry Posted December 28, 2010 Report Share Posted December 28, 2010 @phoenix It's not always person who can survive in long period is good trader friend. If he/she can survive but he/she can't get any profits, it can't be said that he/she is good trader. if his/her performance is not improving, he/she can be said as good trader too. Link to comment Share on other sites More sharing options...
Guest gaban Posted December 11, 2015 Report Share Posted December 11, 2015 i just sugget u to learn from ur experience, even when u lose it can be a good experience because any trader always face with lose, even a profeisonal trader still face with lose. Link to comment Share on other sites More sharing options...
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