tradingout
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Farm Yard Forex
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Looking for this edge with backtesting and forward testing is preceisly why demo trading is so important. If you want to know if it is objectively an edge, you won't by going live and muddying it with psychological factors.
There are some things that would never change about the market such as risk management, support/resistance, reversal, etc. A trader is to be very discipline with his trading ideology. Without any doubt, psychology is a great factor as far as trading is concerned. In fact, it is a vital factor in every aspect of our life.
Atilla
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This is funny.
May I enquire what level of confidence is important.
Low
Medium
High
I would go as far as to say confidence => failure in trading world.
I would also put it on par with risk - reward assessment. Higher the confidence, greater the risk one takes.
scarlet jones
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For me, the most important things in trading are patience and discipline.
Forget the strategy, indicators and everything else, if you cannot wait for the right time to make your move.
Forget the strategy, indicators and everything else, if you cannot wait for the right time to make your move.
hatemypips
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If you set stop loss and take profit and don't touch them in trading you can call it a disciplined trading.
Mark-Mckensie
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Is choosing a broker the most Important in trading, or there are other primary factors as well? And what are the most important thing for a beginner in trading?
Love for Earth
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Good Thread & Read.
Imo the most important part of trading is experience. You can read all the books you would like or listen to all the advice on the web, but eventually you need to find a system which works best for you. I like to listen to the more experienced traders & implement what they find to be essential to them. I believe your edge comes from the knowledge & experience you gain from trading.
Confidence is critical for me. I try to commit 100% to every trade I make. Discipline to take a small loss to prevent a big loss based on my previous experience trading. It's ok to make negative transactions. They will happen. The goal I believe is to attempt to get it right every time you buy & sell. Learn from your mistakes, but dont dwell on them. Developing sound strategies that work best for your system.
It is impossible to be a perfect trader. Recognize perfection is a direction not a destination. Always strive to trade better. I like to try & be a student of life. Always learning & growing. Never quit type Attitude & mindset. Be at your best every time you trade. What may be extremely difficult to an inexperienced trader might seem basic to an advanced one. Whatever you do, dont give up. Be passionate & love what you do. Grow your experience & knowledge. Trading like a lot of things in life becomes easier the more you do it.
In my opinion approaching trading like a student in University is decent advice. Find what works best for you & then listen & grow your experience forward. It's your investments, it's up to you to navigate through the trades. Listen, Learn & Grow. Trading becomes a lot easier through practice.
Imo the most important part of trading is experience. You can read all the books you would like or listen to all the advice on the web, but eventually you need to find a system which works best for you. I like to listen to the more experienced traders & implement what they find to be essential to them. I believe your edge comes from the knowledge & experience you gain from trading.
Confidence is critical for me. I try to commit 100% to every trade I make. Discipline to take a small loss to prevent a big loss based on my previous experience trading. It's ok to make negative transactions. They will happen. The goal I believe is to attempt to get it right every time you buy & sell. Learn from your mistakes, but dont dwell on them. Developing sound strategies that work best for your system.
It is impossible to be a perfect trader. Recognize perfection is a direction not a destination. Always strive to trade better. I like to try & be a student of life. Always learning & growing. Never quit type Attitude & mindset. Be at your best every time you trade. What may be extremely difficult to an inexperienced trader might seem basic to an advanced one. Whatever you do, dont give up. Be passionate & love what you do. Grow your experience & knowledge. Trading like a lot of things in life becomes easier the more you do it.
In my opinion approaching trading like a student in University is decent advice. Find what works best for you & then listen & grow your experience forward. It's your investments, it's up to you to navigate through the trades. Listen, Learn & Grow. Trading becomes a lot easier through practice.
