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    Thread: bigani's trading journal

    1. #151
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      Quote Originally Posted by patrech View Post
      Forex is a risky business , when we learn money management we can succeed trading forex if we don't learn how to trade then we can never trade in the right way we can make pips, so learning is important is the key to success in the forex market, we should learn and master this business very well before we desire to make money, if we desire to earn without learning it won't be possible for us to make stable income that's why we should first learn before trading.
      We can say that money management is very important and there is no argument about it, but in the real practice who are those that are able to use it, we talk so much about the fact that we cannot succeed without this, profits cannot be a consistent experience for us, that is because our understanding of the market is not good enough.


    2. The following 4 users say Thank You to Oghale for this useful post.

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    4. #152
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      Quote Originally Posted by patrech View Post
      Forex is a risky business , when we learn money management we can succeed trading forex if we don't learn how to trade then we can never trade in the right way we can make pips, so learning is important is the key to success in the forex market, we should learn and master this business very well before we desire to make money, if we desire to earn without learning it won't be possible for us to make stable income that's why we should first learn before trading.
      The money management is the power for traders to have several attempt to make money in the market, it will not make traders to lose all their money at once. But this is not the guarantee to our success. Traders can make money or lose money when trading, even when they use the money management, they can still lose if their trading strategy is a very poor one.


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    6. #153
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      Quote Originally Posted by Oghale View Post
      We can say that money management is very important and there is no argument about it, but in the real practice who are those that are able to use it, we talk so much about the fact that we cannot succeed without this, profits cannot be a consistent experience for us, that is because our understanding of the market is not good enough.
      i think anyone that try to argue such things are ignorant, money management is as important as making deposit in the market, without a good money management our trading education has not reach anywhere in the market, because without a money management our trading account is not even safe at all in the market, this is a way to reduce the rate at which we loose big in the market


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    8. #154
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      Quote Originally Posted by sonibark View Post
      i think anyone that try to argue such things are ignorant, money management is as important as making deposit in the market, without a good money management our trading education has not reach anywhere in the market, because without a money management our trading account is not even safe at all in the market, this is a way to reduce the rate at which we loose big in the market
      That is one main reason why traders lose all their money in this market,Money management is one of the first things we learn as newbies in this market Forex is very interesting for those who understands how it works and how to go about it,learn well and earn well.


    9. #155
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      Quote Originally Posted by bigani View Post
      That is one main reason why traders lose all their money in this market,Money management is one of the first things we learn as newbies in this market Forex is very interesting for those who understands how it works and how to go about it,learn well and earn well.
      Yes, this is 100% correct. Money management is the main issue among the newest and oldest trader. But the saddest part of it is most of them do not even realize they are failing because of money management and very often they do not even realize the importance of money management too. I think success in Forex market is not possible without a proper money management though if someone has the best strategy.


    10. #156
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      Like you said your trading strategy is simple but I must say that it is also very powerful, macd is a very powerful trend indicator so breakout in its direction is always a powerful move


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    12. #157
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      Quote Originally Posted by Oghale View Post
      We can say that money management is very important and there is no argument about it, but in the real practice who are those that are able to use it, we talk so much about the fact that we cannot succeed without this, profits cannot be a consistent experience for us, that is because our understanding of the market is not good enough.
      Quote Originally Posted by catfish007 View Post
      The money management is the power for traders to have several attempt to make money in the market, it will not make traders to lose all their money at once. But this is not the guarantee to our success. Traders can make money or lose money when trading, even when they use the money management, they can still lose if their trading strategy is a very poor one.
      Learning how to trade forex is very important, learning for discipline with money management and trading system and we already have the demo account where we can learn how to trade forex without taking any risk, so we need to spend quality time to learn and develop a better experience and knowledge about this trade before we should start trade in the live account.


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    14. #158
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      learning for discipline with money management
      There is nothing you can compare with good money management even when you have an effective trading system without implementing adequate money management then you shall likely most of the times lose and even blowout your trading account! So whatsoever you are doing make sure that you are incorporating it with risks management that is the backbone of successful forex trading business.
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades


    15. #159
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      Quote Originally Posted by bigani View Post
      I open to this journal to share my simple trading method,is is a very simple breakout strategy and i use the MACD is for confirmation,i get signals from the daily chart and sometimes weekly,but my entry is from the 4hr chart,my trade can run for an average of one to weeks,or even three weeks, i will be posting charts to explain further.

      Below is a simple chart.
      Hi bigani I found your journal today and find it quite simple as you explain it the indicators you mentioned in your intro post are one of the famous ones. Does you use a trend line channels for break out or not?
      What is your Macd settings?
      Last thing that I wanna share with you is my real trade on my bonus account I started my Eur/usd journey to 500 pips last week kindly review and comment on it it will give me some support from senior traders like you.


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    17. #160
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      Quote Originally Posted by penuelophir View Post
      There is nothing you can compare with good money management even when you have an effective trading system without implementing adequate money management then you shall likely most of the times lose and even blowout your trading account! So whatsoever you are doing make sure that you are incorporating it with risks management that is the backbone of successful forex trading business.
      Yes it is the basics of Forex trading, that we should have a plan and a strategy to trade here. But without patience there may not be any good execution of either a plan or strategy. Patience is golden and it is the only way that we can survive in the forex market. Never be in a hurry to rush into a trade and we will be saved from the trades that can kill our account.


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