Forex - work or play? What do you think? - page 18
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here... that's useful information...
totally agree with the rules... from personal experience - applying these rules leads to more positive results. I`ll explain - when I started trading on forex market - 95% of positions were taken to take profit, I could keep serious drawdowns, averaging, but all the same, the aim was to hold positions till the positive result, even if market entry was not entirely successful. The result was quite good.
But as I gained "experience" (by taking it from literature) I rebuilt the system according to generally accepted rules of money management. My results started to deteriorate, I started to make first fixings of losses and even deposit withdrawals. I started to analyze.... I have come to a conclusion the initial tactics was more effective.
I absolutely agree with all 6 rules. The only thing I would like to point out is that I should be very careful when using these rules in real trading.
In my humble opinion in this case the leverage should not exceed 1:10 and more effective trading tactics by these rules will work on shares and indices. IMHO.
I don't agree with the leverage, I will explain why. First of all, the lower the leverage, the greater the proportion of your contribution, in a dose of volume. The bigger the leverage, the smaller your deposit. That's why the small leverage has more profit, but the risk is higher. And no one is immune to sharp currency fluctuations.
Rule #2 says never to trade at a loss! Is it possible? It turns out that it is possible, but trading without risk requires special conditions that brokers have, but traders do not. The main reason for refusal to provide such conditions is the broker who is not ready to share his profits. And they only want one thing from the trader, money.
Yes I'm interested, I'd love to see the video.
Here, I recorded and chewed it up as best I could) The beginning of the video is exactly about the advantage of the stop! No criticism for diction: youtu.be/HAImUPkIse8
Rule No.1 can be ignored. As the saying goes:"What is expensive today will be even more expensive tomorrow". It follows that you do not need to catch the first pullbacks, that is, do not stand against the movement, which, by the way, many do, just go against the upward movement, believing that they sell at the best price, and without setting a stop wait for pullbacks, as a result the rule number 2 comes true, but the closing is not a loss, but a stop-out. For example, like now, I wonder, what kind of guru would buy the euro at 1.1050?
And what does it matter what we do from a terminological point of view? The important thing is that we can make a profit on it, which then rustles in our wallet.
Here, I recorded and chewed it up as best I could) The beginning of the video is exactly about the advantage of the stop! No criticism for diction: youtu.be/HAImUPkIse8
I use exactly the same MM in trading, simplified the calculation with self-made indicator, I input stop distance and acceptable risk. The indicator counts the lot. Leverage only affects the margin.
It's from MMM when he used the banking system against himself. He puts money in a bank at 30% a month and takes 100% a year from people. As a result he pays his clients 8.3% a month, while the bank pays him 360 a year.
There is no need to be nervous and look for reasons, rather look for opportunities in any matter:
Is there a difference between white and black? Basically, there is no difference, it's just the colour, the colour black and the colour white. If this colour also rustles, it is general great. You would believe that black is white and white is black. And whoever tells you the opposite will become a laughing stock.
Without words, I have nothing more to say to you personally:
Where did I say the word scam?
I went through it all on my own. I've played poker, I've placed bets on a sweepstakes and I have a good idea how it all works. And I don't understand how you can call forex a betting game.
To be honest, at first I thought that a dude coming from the stock market to forex should probably have an idea about trading. I really did not expect to be so clueless.
And by the way roulette is a scam.
The bigger the leverage, the smaller your investment. That's why leverage is higher, but the risk is also higher.
The risk is completely independent of the leverage size. On an identical trade, the risks are identical. As it was, say, 100 quid, so it remains. And the profit is the same, and it depends on the value of the trade, not the leverage.
If 100 quid is an unacceptable risk for you, it is unacceptable with any leverage.
You have to read less and think more. ) People who read a lot get out of the habit of thinking for themselves. (с)
The risk is completely independent of the amount of leverage. On an identical trade, the risk is identical. As it was, say, 100 quid, it is the same. And the profit is the same and depends on the value of the trade, not the leverage.
If 100 quid is an unacceptable risk for you, it is unacceptable with any leverage.
You have to read less and think more. ) People who read a lot get out of the habit of thinking for themselves. (с)
I watched the video yesterday Mihalych (Gerchik), but I've seen it before, it turned out I was reviewing, but I realized it later).
After watching it I understood that I had watched it the first time and it was for nothing, as they say: "You should not listen but hear". I got so much new information from the old information yesterday that I will try to implement it in trading on Monday, hopefully with even better results.
I watched Michalych's video yesterday, but I've already seen it and it turned out I was reviewing it, but I realized it later).
I realized after watching it once again that it was the first time I watched it in vain, as they say: "One should not listen but hear". I`ve received so much new information from the old one yesterday that I`ll try to do it on Monday, I hope I`ll get better results.
I think it is better to use cats in the beginning.
I remember when I learnt about TA (2008-2009) and read books my trading became much worse. Of course something useful was there, but not much. The rest was child's play. Maybe at the dawn of the market it worked somehow, I don't know.