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    Is Forex Forum helpful in your trading?

    Forums can be very helpful for the industrious learner and a useful source of good information. But it is not very useful for those just looking for a money-making strategy that requires no input or experience from the trader. In that sense, trading is like any other profession - you need to do...
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    Price Action or Indicators?

    Hi! Sorry not to have responded sooner, I've been away. Thanks for your answer. I would also be interested to hear what you see as the advantages of PA and what aspects of PA techniques you find useful.
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    how do you make up for losses?

    This is a good question. Firstly, I don't think one should ever take positions with a view to earning back losses. Losses are an inevitable and integral part of trading in the same way as any business has overhead expenses in order to make a profit. The real issue is controlling the size of...
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    Do you have a goal for the next six months?

    That is a very good result Glossy, I'm very impressed! I agree with you that it demands a lot of effort and discipline, especially with the analysis. Well done! :)
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    Price Action or Indicators?

    Thank you Crash101, for your reply! :) I have generally been through the same process over the years. I only use basically three EMAs and MACD. Although crossovers are part of what I look for, I also use the EMAs as a kind of momentum indicator highlighting whether/when recent price movement...
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    Price Action or Indicators?

    Well I did ask if people use both and not just "either/or" and I guess I could have also added the option of "neither". But if people here are really that sensitive to language that they don't reply unless the text is in watertight, legalistic correct, and totally unambiguous, format, then I am...
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    Price Action or Indicators?

    Oh dear! That question didn't inspire any replies at all. I know it is bit of a boring issue but I just wanted to get a feel for what kind of traders there are here on the forum - or are there any at all? Is this mainly an advertising /broker/blog type site? Or are there any new or experienced...
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    Price Action or Indicators?

    I am interested to know whether traders here prefer Price Action techniques or Indicators (based on mathematical formulas) or a combination of both? And why?
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    Can I really learn forex with DEMO

    In my opinion a demo account is very good for beginners because you can try out all the things you are learning and get a feel for markets without worrying about losing money. It is an experimental stage where you can freely practice with different instruments and different timeframes and...
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    5 Things Successful Forex Traders Won't Say

    Another thing I would hope that traders wouldn't say is: "It is never wrong to take a profit" or "No one went broke taking a profit". In my opinion this is not actually true although it might sound sensible and logical. The point is, a trader might take a string of successive small profits and...
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    5 Things Successful Forex Traders Won't Say

    Thank you, that would be wonderful if it does. I think losses is understandably an issue that bothers new traders a lot. Certainly, "damage limitation" is an important aspect but hoping to eliminate losses totally is neither possible nor even necessary. As soon as a stable winning strategy is...
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    5 Things Successful Forex Traders Won't Say

    Understanding the role of losses in trading is very important. It is not a negative issue, it is an integral component of what we do. Whatever instrument we choose to trade we are all actually trading the same product - probability. Any market can only move in two directions (standing still is...
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    Do you have a goal for the next six months?

    Setting some kind of goal target is good practice since it focuses one's attention on overall profitability and not just the current trade. But it can also be problematic if it is not being achieved and creates pressure to trade even when there is no sensible trade to take. Under-performance can...
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    Have you learned from your mistakes?

    Absolutely. However, that is why it is important to follow the strategy criteria otherwise it is impossible to tell whether it is really the strategy that is poor or just the slack way that one is following it. With any new or revised strategy it is a good idea to initially implement it on demo...
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    Have you learned from your mistakes?

    Losing trades are only mistakes when the trades are outside one's strategy/rules. Every trade is based on a probability of success v. failure and therefore some trades will inevitably lose and that is OK and expected. You can only gain if you are in the markets and if you are in the markets...
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    Psychology :Traders brains are wired to lose in trading.

    I wish I could say that I disagree with this but I cannot! :) I would much prefer to be able to say that traders should be able to control their discipline and emotions through experience and adherence to the rules of their trading method, but I think that is seldom the case! As you say, humans...
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    Psychology :Traders brains are wired to lose in trading.

    Emotional distress from losses stems from a total misunderstanding of the role of losses in trading. One can only profit from trading by being in the market, and being in the market means some trades win and some trades lose. That is totally normal. The art of trading is not to eliminate...
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    Leverage Isn’t a Bad Thing

    Leverage itself is not a risk factor. It only determines how much of your account balance is set aside as initial margin. Leverage is only dangerous when it is abused by taking larger positions, with the corresponding larger risk, than one's account can safely withstand. It is the position size...
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    Restrain your emotions

    My way is to only enter trades according to a method with a proven positive edge over time and on a set-and-forget basis. And not to sit watching the price fluctuating in between. Each trade either profits or loses, but over time the former prevail - and no stress or emotional clutter!
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    How many theories and (or) indicators do you need?

    My first post here. I trade on a discretionary basis based firstly on my reading of price movements and secondly using only a couple of MA's on multiple TFs to confirm my opinions before entering a position. I guess in my early years I used far too many indicators and soon realised that (too)...