Before I trade I analyze the trade in many ways.I thought about their economy.I saw their trading history.Then I start my trade and I watch the Forex market.Analyze is very important.
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Before I trade I analyze the trade in many ways.I thought about their economy.I saw their trading history.Then I start my trade and I watch the Forex market.Analyze is very important.
News is important on Forex. Specially, news about economy periodic statistics and indexs is greatly effect. Everyone must waiting a news to action
I was see the news before start trading. it was very important, because as i know, the big player is giving entry to market with signal from news. we are know if big player is very important to identified. if we are do not know when the big player will show up, we will get serious problem, because we will get great floating if we are trade opposite from their position. I know if news is something is used by big player to entry to market.Quote:
Originally Posted by anmb
Leonaforex made a great comment in Post # 295
For my trades, I trade 3% of my account at any time, until 3 trades in a row are winners.
I then increase to 4.5% of my account.
One loss reverts to 3%.
Two losses reverts to 1.5%.
Three or more go to 1% of account and stay there until you figure out what you were missing.
Once you have achieved 2 wins in row again, go to 3% of your account.
Again - before going live with this, run the backtests for the trade methodology and then plug in different money management approaches and see how the drawdowns affect your account and how quickly you recover. Many folks use a fixed 2% max and this is pretty safe.
Here is something that I read on another thread:
You should classify any contemplated trade into one of the following five categories before putting on a position:
a. Entrance into congestion
b. A trade within a congestion
c. A breakout from a congestion area
d. A trend run
e. Trend reversal
The trader will have difficulty in formulating a successful and intelligent risk/reward (entry/exit) plan unless the trade is properly categorized before the trade is taken. The risk/reward parameters are different for each of the five types of trades.
Before trading we must learn first and read books and search internet for Forex trading tutorials to learn more and more then we should open demo account to practice in it and test the new strategies tell we find good strategy to earn from it then we can open real account and earn real money.
You are right my friend, those advices are very important for every beginners and for experts also, and don't forget that the discipline is more importance too, and if you obey the result of your analyzing you will get a good results.
if you want to tread on in this treading sytem than you need to work on the demo account at before becasue it will help you to increase your ability.
we need to use test concern for training company and in remain we have to do the same.we have to company with a very few make use of.we can not use more than 2% risk in each company if we want to company for originally.we also need to set a lot very few also to make advantage without risk.
before open a real account /start a real trading we need much knowledge and enough practice .demo account is the best place for practice because we can learn many thing from demo account such as we can test our own trading strategy ,we can identify how many pips we should use for stop loss and take profit pips,which leverage is best for us etc.
Greetings myQuote:
Originally Posted by alamayreh
I am new to all this forex world so I lack the schools here, and maybe a friend could explain more broadly to his knowledge, I also understand that in forex this parade, because I am still confused friend.