Trading tips - page 2
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Thanks for the information,i think it is really nice to share thoughts about our personal experience.
Technical analysis is all you need. Get in a trend and stay with it when you are right, and get out immediately when it fails. I see many traders are so stubborn that they never get out when they are wrong, this makes them fail to use technical analysis.
Technical Analysis gives a good perspective for the Intra day trading and trading with the different time frames will give best results.
There is no need to registered and/or regulated by SEBI to provide forex trading tips. If you have experience then you can offer without any restriction. RBI rule for Forex can more help. Reserve Bank of India
Many website are providing Forex trading tips and that really helps those traders who are not having any knowledge about Forex trading.
ALL YOU NEED TO KNOW ABOUT TRADING
* Price either goes up or down.
* No one knows what will happen next.
* Keep losses small and let winners run.
* POSITION SIZE = RISK / STOP LOSS.
* The reason you entered has no bearing on the outcome of your trade.
* You can control the size of your loss (skill) but you can't control the size of your win (luck).
* You need to know when to pick up your chips and cash them in.
Expectancy = (Probability of Win * Average Win) - (Probability of Loss * Average Loss)
You cannot control the probabilities of wining or losing.
You cannot control your average win size.
The only part of the equation that you can control is your average loss size.
PRICE ACTION
“Now, 2 patterns of market behavior happen on a regular basis
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame .
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearde
1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar.
You cannot reduce it any further. Anything else complicates the issue.
ENTERING A TRADE
You either decide to:
1) Wait and do not enter a trade
2) Trade a breakout
3) Trade a reversal.
Those are your ONLY 3 options.
That is all you need to know about trading.
I am paraphrasing an email I received today:
Thus, if you over think or over analyze your trade, try to force it, or try to be too perfect with your performance, you are guilty of getting in your own way.
Most of the time, traders get in their own way because of fear of failure or perfectionism.
When you get out of your own way, you allow yourself to trade freely without expectations or pressure. You allow yourself to just do it and trust in your skills.
Two mental keys can help you get out of your own way:
(1) Understand the core issue that blocks your performance and cope better with this, such as fear of failure, fear of embarrassment, or perfectionism.
(2) Learn how to let go and trust what you have trained yourself to do in practice. We call this the performance mindset.
Very useful information, hopefully it is a concern for others. I own trading in FBS, as long as there is no problem with the broker that I use.
Now, I focus on my trading in Instaforex. Here, i can get conditions of trading is very comfortable. Because service of in instaforex very satisfied. So i can maximum trading well
gaban & kaito kid, would you please stay ON TOPIC!!
To profit in trading, you must make recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to forex and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging forex trading.
tips to be successful in this business, in addition to having good trading skills, you also need to have a good psychology. With good psychology then you can trade with discipline, patience, have a good MM and RM. So our trading skills would be beneficial to get the maximum results
Actually, one needs to be disciplined enough to stick with their trading plan. Failure to do this is why many traders fail.
You can have all the skills in the world, the best understanding of the market, the best methods, the best and fastest computers and connections and the best trading plan but NOT HAVING THE DISCIPLINE TO STICK WITH THE PLAN will cause you to lose.