Forex is money sucking machine?

[sgoythale]

yes, i agree with you that we should take care of the weaknesses that we have step by step because we are usually
seeing other people instead of seeing ourselves and that is why it is hard to control ourselves especially emotions in trading.

[manish]

i am also a part time trader and i truly think that many of the trader on this forum is also still a part time trader. the reason
can be various depending on the situation of the trader. some people because of his small trading account some other with
trading skills reason.

[sgoythale]

yes i also think trading using m5 can be done by using different trading strategy because there are actually a lot of
strategy that uses m5 as the base time frame for trading. and it is also good for intra-day trader.

[aruna]

that is why we must try our best to get the knowledge and information and also practice and improve our trading so we can
also be called professional or expert traders and make this business into a money making machine.

[manish]

demo account is important to do especially if the trader is new to this business because new traders usually
make mistake and it can be costly if they are going to use a real account. that is why the forex broker provide
the opportunity for the new trader to test the business and familiarize himself about the market.

---------- Post added at 10:48 PM ---------- Previous post was at 10:34 PM ----------

i also agree with you. if we don't have any experience at all with the trading market (forex) then we should take advantage of
the demo account because we can see how the market works by using this demo account and we don't lose even a penny
if we make a mistake.

[sgoythale]

from what i read from this thread and this forum most of the traders are using either 1% per trade or 2% per trade.
and some other traders use 5% to 10% per trade. i think it really shows the personality of the trader who is aggressive and who
is moderate risk taker.

[aruna]

stop loss is important and i really think that nobody can deny it's usefulness because it is proven to prevent the trader from
facing margin call too soon in this business. also, it makes us secure and not worry that the market will hit our trading balance badly
because we can not lose more than we already put as stop loss.

[manish]

yeah, i agree with you. the tension and depression do not need to be considered because the potential profit
is far bigger in this business. once we get profit we will understand that it's all worth it...

---------- Post added at 10:47 PM ---------- Previous post was at 10:37 PM ----------

i agree with you very much because this business is connected directly to your trading account (real money) so if you
enter at the wrong time or wrong side you will directly lose money but if you enter at the right time or right side you will make money.

[manish]

a good trader will have to be able to sort the bad opportunity and execute a trade that is profitable.
also, a good trader must be patience and not have a rookie attitude (wanting to make money overnight).

---------- Post added at 10:47 PM ---------- Previous post was at 10:33 PM ----------

good trader will make money and his win to lose ratio is leaning toward his winning side. also, a good trader will
have a very good control over his patience and he can wait for a long time for a good trading signal.

[aruna]

yes, we can't put too much of our capital in our daily life into this forex trading business because there is a risk
that we are going to lose part or all of it. so it is better to use the capital that we won't be so much bothered
when we lose them. this is the most repeated advise from professional traders so i think this is good