Is Forex, a quick way to make money.

[harddisk]

haan yeh sahi tarika hai apne galtiyo ko sudharne ka ki agar loss ho jaye to demo a/c mein jakar analyse karna hai hame ki kaha par gadbad ho rahi hai aur uss hisab se use kaise sudharna hai yeh thik se samhaj lene ke badh hi vapas main live a/c par ana chahiye isliye hame hamesha demo a/c ke sath chalna chahiye.

[harddisk]

yes you are right that this might appear as a trade where we just need to hit on buy and sell but it is a lot different than we think, then also some ppl might think that with parameters and sl we can get a lot but it is not always like that coz even with parameter sby ur side you can always suffer small losses, if there is no analysis then you can never know where the trend will wander and that is the most important thing in forx to know abt the way the trend will flow and if that is not done then be ready to hit a loss.

---------- Post added at 12:42 PM ---------- Previous post was at 12:28 PM ----------

forme the best way to trade is following trend, but not in volatile condition's and using sl is a must to avoid any problems and i do not use tp coz i believe in ending the trade manually, i also follow a strategy to get good amount of profit.

---------- Post added at 12:48 PM ---------- Previous post was at 12:42 PM ----------

forme the best way to trade is following trend, but not in volatile condition's and using sl is a must to avoid any problems and i do not use tp coz i believe in ending the trade manually, i also follow a strategy to get good amount of profit.

[harddisk]

aisa nahi hai bhai, aap ka luck hai isliye aap ka profit hota hai aisa nahi hai, aap ka profit hota hai kyuki aap na knowledge and understanding about forex utna hota hai isliye hota hai , and luck can be something that will be with someone who has made a big jack pot in a lottery or a gamble, trust me forex is way to different than all that.

---------- Post added at 12:46 PM ---------- Previous post was at 12:42 PM ----------

well if you are loosing then its the reason that you are not using sl or hedging, i dont think that luck can help you in this case :P and yeah you are right there that if you have adequate knowledge then you wont believe in this luck and all specially in forex trade.

[harddisk]

yeah on a forex forum you will get strategies and also you will get to know basic stuff that you need to avoid loss, and on a forum you can discuss you problems with a senior who knows forex from a long time so that even you stay well cleared about facts and querries.

[harddisk]

yes it is well wise to keep an eye on the market daily but that does not seriously imply that you have to even trade everyday, yes if you are not that old to forex then you naturally strive to find a new strategy and so you trade daily for it to test yourself but if it comes to keeping an watch on the market then i dont think that it will be necessary to trade for that reason!

---------- Post added at 12:44 PM ---------- Previous post was at 12:23 PM ----------

but i thought that forex trade (market) is closed on saturdays and sundays then how do you trade in forex on saturdays and sundays buddy??

[harddisk]

yep you are right that when the trend proceeds in the ooposite direction then we loose our mind's and also freak a lot, in forex we get tensed both ways, once when we are on a loosing point and also when we are on a winning point coz loss mein toh tense hona hi hai but in profit we hope for the trend to grow more and also expect that the trend does not follow the worng way so again anxiety and tense feeling.

[harddisk]

yes you are right, demo a/c gives us a chance to tarde with virtual money so even if we make a loss we try to gain back it in the next trade so we do not understand the4 value of loosing in it but in real live a/c even if a dollar gets wasted then we start to mourn, so it is really very smart and also wise to trade on a cent a/c for sometime to understand the flow of real money and also experince the real money trade.

---------- Post added at 12:41 PM ---------- Previous post was at 12:14 PM ----------

it seems quiet possible with the way that you have explained in but still this is real money that we are talking about in a live a/c so there will be a little hesitation and also a tense feeling when starting a trade, coz even with sl a little loss cannot be avoided and also a consistent profit cannot be expected always so greed keeps on attacking back.

[harddisk]

yes new traders do suffer from fear a lot when they get the taste of loss, but they dont understand that they have to take that loss as an experience and then try to get back, but instead of that they sit back thinking about the same thing during their next trade and then fall apart with fear, and relevant to this other new traders who make profit's start to greed for more, for eg if someone makes 10$ with forex then he starts dreaming of 100$, and greed is not just in particular to new traders but also a lot in old traders.

[harddisk]

yes stop loss can be a life saver in terms of trade, if we have the habbit of using sl then we are also a lot relaxed and calm minded when we trade, though tp is something that you can use when you leave the chart coz if you are there in front of the chart most of the time then you can manually close the trade for your way of getting profit.

---------- Post added at 12:39 PM ---------- Previous post was at 12:32 PM ----------

yes trying day trade and swing trade without sl is a lot like planning our own loss, coz if you are going for long term trades then sl is the only thing that will keep you safe from the changing trend and also with tp you can get your profit's locked and safe, the best is trailing sl in such case

[harddisk]

as a begineer i had given lots of time to forex, i used to spend about 6-8 hours practising on demo but now in a live a/c i spend around 2 hours maximum to reduce the risk level and to also avoid over trading, yeah i m too cautious but this is the way i follow my schedule.