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    Page 499 of 658 FirstFirst ... 494 497 498 499 500 501 504 ... LastLast
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    Thread: NikitaBelle‎'s - Trading journal

    1. #4981
      MT5 Addict
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      Quote Originally Posted by NikitaBelle View Post
      Run the 2 accounts for 6 months or one year, the account with stop loss, set it at, 20 pips, then 30 pips and so on, used your creativity and common sense. You got to do experiments before you target big real money. If you can't do it then chances are you already succumb to the diseased that many of us become a victim already and that is to earn big money on their 1st and 2nd year in trading, and wasted tons of money in the process.

      If I have to do my early years in trading all over again, I will devote my first 2 or 3 years in trading with experiments run both in live or demo accounts and take away the wants and greed for big profits and focus on the trading process solely. You know why? How many years a doctor, lawyer and other professionals spent in university studying before they can get a high paying job after they graduate? think about that?

      I can't go back, but you as a newbie has a better chance to do the proper thing because you are still a newbie. Enjoy the process of trading, kill the love for big profits, getting to know the market up close and personal is the best thing to do first and foremost, get to know the giant beast that entrap, charmed and hypnotized all types of people yet only few can survived and that giant beast is the Forex Market itself.


      >>>

      Below is what I see in my EURJPY Chart...I could be wrong am always wrong, hehehe Am not a good analyst. But at least I tried.




      > Happy Monday guys. Trade well and take care all.
      Sir, You are not only good trader, you are one of the best mentor. When i read your advice with example i feel more spirit on my mind. From now i am starting from beginning stage with following your indicators. I will do everything which you have told me. I sticky everything on my mind. I believe if stay with you then within short time i will good trader. Thank you very much sir.

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    2. The following 8 users say Thank You to crown for this useful post.

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    3. Dragon
    4. #4982
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      @ralph: sure, mate. the forex business is very challenging and the forex trader must know this and not fall a victim to emotional trading. though trading without emotions might seem hard, one will get used to it as one practices on it.

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    6. #4983
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      Quote Originally Posted by catfish007 View Post
      It is not good for traders to entertain the emotion, emotion will never bring the best out of any trader, this is why we have to stay careful, and do the things that will only help us to survive in the market. Forex traders that are making money are making the money because they have done all the necessary thing needed to make that money, so if traders are emotional, no matter what they know in the market, such things will still be a waste. Emotion is part of what is necessary for traders to dealt with before they can be successful.
      When traders can give emotion a chance, the trader will regret it. The 95% of traders that are losing are losing because of emotion, we have to avoid this, this will make us not to be losing money to the market. Forex trading needs the boldness of traders to work things through, the traders without the effective boldness will not know how to trade well, they will lose money. If they have the good strategy and plans, and they are still not working on their mental psychology, they will do nothing than to lose money. This might take time, but emotion and impatient will still fight them to lose.

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    8. #4984
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      If I have to do my early years in trading all over again, I will devote my first 2 or 3 years in trading with experiments run both in live or demo accounts and take away the wants and greed for big profits and focus on the trading process solely. You know why? How many years a doctor, lawyer and other professionals spent in university studying before they can get a high paying job after they graduate? think about that?

      I can't go back, but you as a newbie has a better chance to do the proper thing because you are still a newbie. Enjoy the process of trading, kill the love for big profits, getting to know the market up close and personal is the best thing to do first and foremost, get to know the giant beast that entrap, charmed and hypnotized all types of people yet only few can survived and that giant beast is the Forex Market itself.
      In a real market enviroment a trader has much more chances to concentrate on price action and to solving the problem, but when you are not taking action and not risking anything in the market the mind can't focus in a strategy and you are only watching in what you could lose without learning how to protect your self in many cases.

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    10. #4985
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      the newbies who joine the mt5 forum do have better chances to become successful in this business because they have a lot of learning tips that would make trading easy. they will not need to make their own mistakes as they learn from others experiences.

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    12. #4986
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      Quote Originally Posted by zeeshaa View Post
      All these points are the main reasons of trader's emotions during trading which is really bad. we know that with emotions we can't trade successfully and make profits. Maybe a trader get some amount of profit due to his luck when trading emotionally but he/she can't continue it for long time. it is really important for us to control our emotions if we want to do something in this business. I know it is hard task for a trader but we can do it with hard work and our will. there is nothing impossible in this business if you have will to do something.
      Every forex trader will join this business because they are no thing when we will start this business we have a wish this will give us profit in few hours or days and we will be find short cuts and doing trading with emotion, this is the first cause of loss many time in real trading market. every business have rules if we will not follow them then it will creates problem and result is loss.

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    14. #4987
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      Quote Originally Posted by Honey Bee View Post
      Every forex trader will join this business because they are no thing when we will start this business we have a wish this will give us profit in few hours or days and we will be find short cuts and doing trading with emotion, this is the first cause of loss many time in real trading market. every business have rules if we will not follow them then it will creates problem and result is loss.
      There is no short cut, because we have to give so much time to learning and developing our selves. we can take NIki as an example because they was losing in the past and making so much mistakes only for her to become better now because they stopped taking too much risks. That is how we can be good and be profitable in the business. It will take time, there is no short cut to success in forex business.

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    16. #4988
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      Quote Originally Posted by Ch Zeeshan View Post
      Emotions are always bad in any business of the world. we can't run a business successfully with emotions. in this business some time traders face losses and some time they make handsome profits. we should control our emotions in both situations because it can be dangerous for us in both ways. if you are emotional after make profit then you may open more trades in wrong direction which can hurt you a lot. in other hand after face loss you may become angry or frustrated and you lose your temper which can be very dangerous for all the things and persons around you.
      I hope every trader will try to understand the dangerous results of emotions in business and try to control them.
      In my humble opinion, the question of emotions and their effect on our trading performance is not very well understood by many traders. As usual, I believe that many forex gurus and system peddlers are not addressing the real issue. The real issue, as I see it, is that forex trading at the retail level needs to be combined with another source of livelihood. The reason for this is that earnings from Forex trading are mostly irregular and fluctuate continually.

      The practical thing for a trader to do is to appropriate and withdraw trading profits once a month (by which time, the trading profits will have accumulated in the trading account). Since most retail traders are not well capitalized, their profits will, of necessity, be small, hence it may not be enough to pay the bills and sustain one's livelihood. Having a side job or business or activity will ensure that the trader will be able to generate sufficient income at the end of the month.

      Having adequate monthly income will take care of the emotional upsets we encounter in our trading. It's all in the mind. The mind is the battleground where the strategical and tactical warfare is fought before everything manifests in our trading performance.

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    18. #4989
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      Quote Originally Posted by NikitaBelle View Post
      ...

      Why traders are emotional during trading? Because of the following things below...
      1.) Afraid to lose a trade
      2.) Afraid to blowup an account
      3.) Want to earn big profits with small account
      4.) High risk trading
      5.) Need money to pay monthly bills, family needs and many things
      6.) Newbie traders
      7.) Afraid that stop loss will hit too early
      8.) Rush to earn big money
      9.) Rush to become a successful, profitable and professional trader with out much experience and knowledge in trading
      10.) The market is risky, too many big giants participants
      11.) Small time traders are lacking of sophisticated tools used by professionals
      12.) Disagreements with family members and other personal related stuff

      ...
      Those are some good reasons that really happened to a lot of trader during their uncertain moments in their trading career. Once they can overcome those things then the profit will start pouring into their trading account. One of those things that will have a big impact is the use of big lot size/taking big risk and the trading strategy itself. If the trading strategy is good and risk is big then reducing the risk will solve the problem and vice versa. But when it comes to psychological aspect then eliminating the source of problem will solve the situation. Like if you are pressed to make money to pay the bill from profit then it will be better to find a stable job first so your worries will be tended first. It's not healthy to trade while having worries because this will definitely impact the decision making and more often than not it will cause loss.

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    20. #4990
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      Today is Monday and mostly the is no high impact news on Monday so market move is slow and tricky some time we see a nice setup but in reality it's a dodge by market movers for us they always trying to confuse us and want us to lose our money
      Vsa I think give some hints regarding the market movers move it's a very advanced method of trading in forex I try to learn it in future
      Check my latest trades below
      Attached Images  

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