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    Thread: King Of Losers Trading Journal (union12)

    1. #331
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      Quote Originally Posted by Vikine View Post
      Those who sees it as a competition will eventually end up losing their money. Forex trading is not a competition, but a business a business that we do on our own and based on our own little understanding. I ensure not to compete with any one and when I see some good results. I don't try to make sure I do the same as they did.
      There is always some kind of limitations when you are in a competitive mode because of the pressure to show that you are the best, but when you are concentrating on doing things the right ways then there is non stress and pressure, which make it easy for you to take trading decisions on a normal mindset.

      Quote Originally Posted by Oghale View Post
      Trading should never be considered as a competition among traders, if we are trying to do this we will be hurting ourselves unknowingly, just trade at your own pace because the person you are competing with may not even know about what you are trying to achieve, and doing that could mean you may behave in a way that greed will now be what is pushing you into trading, forex is a business where each participant needs a relaxation mindset, rushing does not pay, you will eventually be losing what you have worked for no then be in regrets of the decision you have taken, success is already for you the moment you do things right.
      Sometimes that was why I do not want to participate in the trading competition because I do not want to feel that I am competing with anyone because it would only lead me into a lot of pressure and stress.

      Quote Originally Posted by debren View Post
      Can we call this scenario or attitude greed, pride or knowledge deficiency? Greed in the sense that they want to make profit from the market at all cost, pride in the sense that they believe they know it all and deficient in knowledge if they do not have a good knowledge of money management. Whatever it is, such trader need to learn more and coorect his errors.
      My brother it is just pride because I later asked them why they are doing this kind of mistake, and they opened up to me that they feel bad to become wrong with their analysis, Simple! And this is to me pride, and not deficiency of knowledge or greed!
      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


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    4. #332
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      We shouldn't see forex as a competition, we don't need to pot Unnecessary pressure on our selves, we shouldn't be trading to impress someone or because we wanna better another trader, I think we need to focus on our selves and also on improving the trading strategy we have at hand. Rather than focusing on some things that is out of point


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    6. #333
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      USDCAD can sometimes be scary to trade due to the volatile nature of that pair.
      This pair is a comdol so you better also watch the oil price because it relates to this pair.
      You should have locked in your profit rather than letting it run unprotected or you could just close it while it's still hot.
      Then again I'm sure you have things in your mind as you watched the price moved.

      Good for you that the bonus can back you up but I don't see any immediate threat as your trading balance is already sufficient.
      Oil prices? i have heard about that before but don't know how to use them as indicator.

      Well my strategy depends on technicals mostly. i close all lots once i have at least $1.5 profit as a total.

      I have been around my friends who trades their funds and sometimes when pride steps in then you see some of them refusing to accept their losses when it is small because they do not want to admit that they made mistake with their analysis about the market and finally they ends up losing so much money at the end!
      i don't know about anyone else but, i follow my strategy until it fails and then at that time i uses whatever i feel is good to protect from MC. i know that if there is more loss to recover than it is the worst thing but The true warrior never runs away from fight. That means that there is no limit in trading and those who remain stuck in limits never have seen the true victory. stop loss is not for me as it makes circle around me so i hate it.


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    8. #334
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      Union12, I like your conservatory manner of trading, I guess you must have reached this decision because of the losses you made in the previous years, that is how trading is supposed to be really, we should seek to make improvements from everything we have gone through before, but why don't you allow your trades to run a bit more after you have achieved your $1.50 profit targets especially in trying to lock profit as soon as you have reached what is your minimum expectations for each position.

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    10. #335
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      but why don't you allow your trades to run a bit more after you have achieved your $1.50 profit targets especially in trying to lock profit as soon as you have reached what is your minimum expectations for each position.
      that's because its my first tp and i usually analyze market and if i found potential then i leave it for next tp, which is second or last tp and that is finalized according to resistance or support levels.

      now here is what i'm testing on demo, they says it grid trading so i will let the grid run for next fews days and then open my demo to see the results.

      Name:  a1.PNG
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      grid is defensive strategy, protects from loss of floating lots.




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    12. #336
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      Quote Originally Posted by simisola View Post
      Union12, I like your conservatory manner of trading, I guess you must have reached this decision because of the losses you made in the previous years, that is how trading is supposed to be really, we should seek to make improvements from everything we have gone through before, but why don't you allow your trades to run a bit more after you have achieved your $1.50 profit targets especially in trying to lock profit as soon as you have reached what is your minimum expectations for each position.
      Good improvement is very helpful and would help us become advanced in our learning so that we could take better trading decisions that would really help see we make profits. It's from our experience we can make good trade and we can build a good system that would really help us earn success which is good.


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    14. #337
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      Quote Originally Posted by sonibark View Post
      We shouldn't see forex as a competition, we don't need to pot Unnecessary pressure on our selves, we shouldn't be trading to impress someone or because we wanna better another trader, I think we need to focus on our selves and also on improving the trading strategy we have at hand. Rather than focusing on some things that is out of point
      It will be so bad for any trader to be seeing the forex trading as a competition, that is going to mount much pressure on that trader. Forex trading is to be traded well and be greatly enjoyed under a very friendly environment. And if we have a trader that we like his work, we have to move closer to the trader, so that we can learn the way he is doing his trading, and this will help us to trade as well in that manner. We do not have to just be making unnecessary issues for ourselves when trading the market, we are always better than that.


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    16. #338
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      Quote Originally Posted by Sixteen View Post
      Good improvement is very helpful and would help us become advanced in our learning so that we could take better trading decisions that would really help see we make profits. It's from our experience we can make good trade and we can build a good system that would really help us earn success which is good.
      In forex trading market, what we are in for is to be able to make money and to make the money from the market. It takes extra learning and skills. Day after day, the trader has to keep on improving their skills, that is how they get to become successful and build the right strategy that works for them.


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    18. #339
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      they says it grid trading so i will let the grid run for next fews days and then open my demo to see the results.
      that's not a profitable grid setup. i think you might want to search the web again for how to really do it. what do you hope to expect by placing orders like that? the only thing that will happen is fills with very high margin cost on one side and then eventually drawdown because no protection. or do you have it?

      also let me say this again. grid trading is banned on many brokers, it's also banned on many ****** providers. just a heads up.

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    21. #340
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      Quote Originally Posted by Sixteen View Post
      Good improvement is very helpful and would help us become advanced in our learning so that we could take better trading decisions that would really help see we make profits. It's from our experience we can make good trade and we can build a good system that would really help us earn success which is good.
      The more improvement you accommodates then the better becomes your trading experiences and it actually one of the best ways to start trading without stress and pressure. So it is good to have these hunger to keep on improving because that is the only time you can start making good progress over time.
      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


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