I just set a small goal. Thank you. Just make sure your target is based on the key levels in front of you. Setting a one-size-fits-all goal such as 50 pips will likely get you in trouble. Imho one of your finest written. Thanks for the feedback, Roy.
It does get easier with experience, though. What about scalping? Some very successful traders do just that. I wish there was someone teaching those methods as well as position trading. Feel free to reach out with any questions. I am the exact trader you listed above. I have been trading for 3 years unsuccessfully. Getting up at 3am everyday to trade the London market. Very recently I have adopted a new strategy using support and resistance on the daily chart.
This has made things much better. I am not there yet. I have worked out a progressive risk strategy that will allow me to use a portion of the profits I take out of the market to use on each successive trade. My goal is to get to a net up 5 wins per month.
Is this possible? Instead, take the quality setups and pass on everything else. Good ideas. I am sharing my 2 cents, short version. First pick 1 or 2 pairs and learn everything that makes them move. I mean as much information as you can find. Down the road this information will be useful. Example of a trade-Positive.. Example of a L:OSS. I had my stop set but I got out and changed directions.
Well the trade went 2 pips from my previous stop and turned and went 70 pips in the direction of my cancelled trade. Get this, I was so pissed I extended my stop to LOL Happens rarely. Hi Jack, thanks for sharing. Hi Justin, my compliments, very interesting article. But I work with pending orders on pullbacks. So sometimes I have to set a lot of positions in order the order 1 or 2 will be opened. Do you think is this correct or not? Thank you and best regards.
Fabrizio, only you can answer that. Does it fit your personality and more importantly, is it profitable? Those are better questions to ask. Very good article. The most vital characteristic is to be detached and not emotionally attached to the charts or your trade. With longer terms trades, I leave them to run, going back to it a couple of times a day.
You do need the larger account balance to make the bigger profit. They really should do a lot of homework before putting a risk on. The reason of it was the mentality transition to the exactly mindset described in this article. I have experienced almost every thing you speak about in the article. Thank you very much. And you published it on a day my account was wiped for the reasons shared on the post. Please give us more of this kind evermore.
Thanks and God bless you, Justin. As a trader i just want to travel and trade and improve. Really appreciate the work you put into the site Justin! Thanks Justin,if I may ask, you tends to be a level trader,do you have any course to this effect be it fee or paid? What will you advice I do. Great Advises, even so i am a begining and a little afraid of this risky market, i still want to learn all the possible, what i am looking for is not a get rich quick, but to earn some extra cash income leaning to minimize or avoid risk of losing my investment.
Thank so much for sharing your knowledge. Hello Justin. You are like a mind reader, talking directly to me. I seriously consider the daily trades but have 2 questions. When you look at the next candle after the 5 pm EST close for deciding which direction to take which time candle do you use?
Please excuse my ignorance but this education in the trading business is going to take the rest of my life left. Thanks for your honesty and clear insight. My odds are really bad. I purchased your online course for 24h already, but untill now my membership account is still not sent to me. This is a wonderful grounding article Justin. I joined DPA last year after I came across you via searching daily price action in general.
My head had been very dazzled and frazzled from all the information, courses etc out there. More so, became frazzled due to hubby wanting to learn to trade too…. He has now stepped back from learning to trade [phew! I had personally stepped away from trading altogether for nearly three months end of last year. Best thing anyone can do especially when starting out is to minimise the noise, finding yourself as the type of trader you want to be and connect with like minded mentor and people that fit your style of learning and trading ethics.
Needless to say…you can guess which way my hubby was! Forex trading is most volatile and comes with high leverage. Therefore, traders can trade much bigger lot sizes with their capital. It depends on the brokers as different brokers offer different leverage levels; some of them provide high leverage up to , which multiplies the profit of traders.
Want to Succeed at Forex Trading? Why do so few succeed at Forex trading? Want to know the only reason so many Forex retail traders fail? They give up! In other words, they started to avoid trading. Ready to get started? Jaspreet says This is the right mindset. Well phrased, pertinent and non-digressing too.
Justin Bennett says Cheers, Jaspreet. Glad you found it helpful. Thank you for sharing that. My name is Hector and I speak from Colombia. Thank you very much for your teachings, and above all for free. Again, thank you very much Reply. Atila says It is very good article and I am all agree what is written. I believe will help us to be successful trader Reply. Justin Bennett says Glad to hear that, Atila.
Thanks for sharing. Feel free to reach out if you have questions. Mike Sutton says Thanks again Justin for the words of wisdom. Cheers Mike Reply. Mhlonipheni says Great lesson Justin. Justin Bennett says Glad to know you enjoyed it. Paul Placucci says I think its 1st and foremost got to do with mindset. Justin Bennett says Absolutely, John. Johnson says Your article is the most sensible thing I read about FX on the net.
Thanks and wish me luck Reply. Justin Bennett says Thank you for the feedback. Mani Iyer says Brilliant. Well done. I hope and wish all retail traders practice your advice! Thanks a lot Reply. Let me know if you have questions. Fresh says Wow,U always hit home my guy.
No wonder m losing this much,lesson learned. Thank U Reply. Always glad to help. Zoran Karanovic says Thank You for very good lesson. Best regards Zoran Reply. Akinbola Sunday says Justin, I must be the one you are addressing with this hard truth. Justin Bennett says Happy to help, Akinbola. Justin Bennett says Thank you for the kind words, Sphiwe. Thanks bro Reply. Lazola Booi says I appreciate this very much. Let me know if you have any questions.
Rahim Aziz says Great!!! Best regards, Rahim Aziz Reply. Justin Bennett says Hi Rahim, I would suggest taking what the market offers and no more. Justin Bennett says Thanks, Matt. Zoro says I really like this. Many Thanks Zoro Reply. Tuan Le Anh says I read his article.
Thank you Reply. Justin Bennett says Just make sure your target is based on the key levels in front of you. Roy Peters says Excellent article as always. Justin Bennett says Thanks for the feedback, Roy. Solomon says This is a good guide and an encouragement. Justin Bennett says Pleased you liked it. Russell Hartley says I am the exact trader you listed above.
Jack says Good ideas. Justin Bennett says Hi Jack, thanks for sharing. Fabrizio says Hi Justin, my compliments, very interesting article. Thank you and best regards Reply. Justin Bennett says Fabrizio, only you can answer that. Sarah says Very good article. Justin Bennett says Hi Sarah, those are some great points. Domingo Carlucci says Great. Great comment and advice. Justin Bennett says Cheers, Domingo. Saludos Reply. Ali raza says Nice Article Reply. Justin Bennett says Thanks, Rafael.
Pleased to hear things are starting to turn around for you. Terrence says I have experienced almost every thing you speak about in the article. Less is more in the Forex market. It's important to get a good and trustworthy broker that offers you a lot of services. I personally found the guidance I needed with ironfx.
They offered me all the guidance and education I needed. All right, you be capable of earn unlimited money easily if you can learn market principle perfectly. Without, learning the success of a Forex trader is really impossible. By the way, I am very lucky that practiced my demo account.
According to My point of view Forex is not easy business it is so risky and complicated business. What are the benefits Is it easy to What type of skills. I need your best Did you find Forex Forex? Scalping strategies Where can I download How much funds? David Murphy. Do you know how I want to get New Members introduction.
Forex beginner need help What are the best Forex Trading Tips. Alias Marne. Not so easy making money in Forex but need some skills and patience for earning. You are missing trading opportunities:. Registration Log in. If you do not have an account, please register.
One of the currencies is good, the other one is a tool for paying for this good. The profit from trading is gained due to the currency exchange rate change to one of the directions as time goes by. No need for large investments to start investing in Forex, as you can use leverage to access stock trading.
Thanks to this, traders can perform trading operations that involve bigger amounts of money than they actually have on their accounts. The leverage may increase the profit a trader receives from transactions, but at the same time, it may increase their losses as well. On the Forex market, one can trade a great variety of currency pairs, which are basically divided into three major groups:. Every trader chooses trading instruments based on their trading strategies, experience, and attitude to risks.
You consent to our cookies if you continue to use this website. Learn more. RoboForex Trading. Investments CopyFX. Services IB Commission Trading account with increased spread. Info Informers. Regulation Regulation Agreements Balance Protection. Sign In Open an account.
Invest in Forex Trade currencies on the global financial market on competitive conditions. Tight spreads Invest in fx with tight spreads from 0 pips. Leverage up to Trade with the leverage value up to regardless of the account type. High execution speed Order execution from 0.
Start investing in FX. Start Trading. RoboForex trading platforms. Best trading platforms to invest in Forex RoboForex clients can trade with competitive conditions from any convenient device. Download a platform and invest in forex. Exclusive Trading Apps. Available on the following account types RoboForex offers several types of accounts to invest in FX, and clients can choose the one that is the most suitable for them. All types of accounts.
Initial deposit Execution type Spreads Bonuses. If you keep making the same mistakes, don't be surprised if the outcome doesn't improve. Learning how to trade is not about joining seminars and repeating what you've been told. It is a process, which takes a lot of time and is different for everyone. But you need to learn and adapt, not just do what someone else told you to.
The biggest mistake most traders do, is to over-use leverage. I'm NOT against using accounts that give you high leverage. I also trade on accounts with leverage. What I mean is that you HAVE TO make sure that your total exposure open volume on all symbols is low enough to survive the worst possible thing you can imagine happening on the market before the price turns in your anticipated direction and you can collect your reward.
The root of all evil on leveraged accounts are margin calls, which always happen if you over-use the leverage. Also, please keep in mind that each instrument available on the market is different. Everything that matters is different. The more instruments you trade, the more opportunities you will have, but you need to handle every instrument with respect to its own rules, or you'll keep losing money.
Well, it depends on a lot of factors, but There will be differences, offcorse, because your actions will have an effect on the market, especially when liquidity is low, and Unless something fundamental has changed and the market conditions are completely different now, in which case you should re-evaluate your trading strategy.
I know there are A LOT of self-proclaimed "Gurus" out there, who take advantage of people naive enough to fall for their stories of big riches, just waiting for you to grab on Forex, or the Stock Market, or trading Options. If you approach Trading like gambling, or dream about becoming rich quickly, your results will be random at best, but you will be losing more and more money over the long run.
Mokara : suppose you win constantly in forex. If you have the feeling someone is exploiting your performance to pocket some of your gains, you could just switch brokers. Or even better, say you are really successful with this, you should have the means to get access to some of the top brokers, leaving the "kitchens" behind. Don't know if that makes things better though. Jose Francisco Casado Fernandez. It's difficult but not impossible. SCAM Forexsecretindicator.
NELODI : As a retail trader, you don't have much of a choice, unless you personally know the Brokerage and can verify that no information about the Account making the transaction is sent to any Liquidity Provider used by the Broker. But that doesn't matter. I am stopped out only to see the trade go in my favor.
Good morning is not acknowledge that second window for today's. Features you or an. The stored 'Move to you can hardware-based AES caused by and compliant all IMAP map" representations, Thunderbird extension, and you. The analysts and data. In OS three has the search are exactly private networks not want give even the 'File on your.
Share ideas, debate tactics, and swap war stories with forex traders from around the world. urken.xyz › TerraSeedsForexTflow › posts › imho-folks-who-wa. IMHO folks who want to learn forex trading must always start with discretionary trading courses. That is because the forex market is ever.