How to make money consistently trading forex? - Page 2
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Thread: How to make money consistently trading forex?

  1. #11
    Nice Financier:--RRB-

    Simplicity works. I think we get a little too clever for ourselves believing we as rational human beings could sew the market. The top egies I have come across time and time again would be the simplest. The moment I try to impose rational notion in my trading egies, functionality necessarily requires a hit. A long painful history in gambling, though fruing actually helps to overcome any human bias we might have concerning our supposed cleverness. Most of us have a brief painful history....the trick would be to ensure you have a long painful history before which light bulb flashes and for that, risk management is paramount.

  2. #12
    If you're new to forex, which means that you've been at it less than annually, then you need to set small attainable goals. My goal is 20 pips per day. I then just slowly increase my lot dimensions as my account grows. My rules for this are:
    1. Trade when it is the very best time for mepersonally, as I'll then create the best choices
    2. If 20 pips have been obtained I'm done for the day (this reduces vulnerability to this market so I do not lose my profit )
    3. If I shed 20 pips at the day I'm done. (this prevents more loss from revenge trading mindset.

    That's it. . .you can apply this methodology to some egy.

    It helped me a lot and I go back to it with any new egy I am testing out.

    Hope it helps others

  3. #13
    Very interesting subject. This isn't just in Foreign Exchange, all above is true in almost any market. What I can add to this and suggest to a newcomer traders would be to adhere to a method that's as much mechanical as possible (i.e. strict rules for entrance, exit, trade direction ). Based on my own experience and that I trade for about a decade now, this very simple fact could save a lot of cash to a new trader. And if you have a proven, tested and dependable mechanical method that works just stay with it!

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