Earn up to
$50000
for inviting friends
to get StartUp Bonus
from InstaForex
No investments required!
Start trading without
any investments and risks
WITH NEW STARTUP
BONUS 1000$
GET BONUS
55%
from InstaForex
on every deposit
  • Amazed
  • Amused
  • Angelic
  • Angry
  • Asleep
  • Bashul
  • Bitchy
  • Blah
  • Bored
  • Breezy
  • Brooding
  • Busy
  • Buzzed
  • Chatty
  • Cheeky
  • Cheerful
  • Cold
  • Confused
  • Cool
  • Crappy
  • Cynical
  • Daring
  • Dead
  • Devilish
  • Doh
  • Doubtful
  • Drunk
  • Fine
  • Flirty
  • Goofy
  • Grumpy
  • Happy
  • Hot
  • Hungover
  • Innocent
  • Inspired
  • In_Love
  • Lonely
  • Lurking
  • Mellow
  • Paranoid
  • Pensive
  • Psychedelic
  • Relaxed
  • Sad
  • Scared
  • Shocked
  • Sick
  • Sleepy
  • Sneaky
  • Stresses
  • Tired
  • Twisted
  • Worried
  • Yeehaw
  • Reply to thread
    Page 1 of 2 1 2
    Results 1 to 10 of 12

    Thread: Where is the mountain and where is the valley?

    1. #1
      FX Zombie
      I am:
      ----
       
      SIMPLEMAN will become famous soon enough SIMPLEMAN's Avatar
      Posts
      2,584
      Accumulated bonus
      479 USD (What is this?)
      Thanks
      2
      Thanked 77 Times in 66 Posts

      Default Where is the mountain and where is the valley?

      Dear respected forum members pleas learn from my recent experience, on the 13th of july, i saw a very good resistance position on the AUDUSD on daily time frame and without checking for other factors i placed a sell market believing that the market must collapse that point having covered over 450pips in an journey of about 30 days of continuous buy, but i was wrong the market broke the price at 0.7750 and took out that resistance level like a hot knife would go through a butter,i was foolish to skip my stop loss and i used high lot because of my confidence that the market must reverse at that point, and today my account is gone, please learn from me there is no mountain the the forex market can not climb and there is no valley it can not go under.


    2. #2
      Banned
      I am:
      ----
       
      paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul has a reputation beyond repute paulokepaul's Avatar
      Posts
      2,003
      Accumulated bonus
      1013 USD (What is this?)
      Thanks
      2,233
      Thanked 2,588 Times in 1,195 Posts

      Default

      It is a very good thread to us who want to trade according to our feeling not instead of what we are seeing in the chart,presumption is very bad in the market and trading with high lot at the begin of trend is equally wrong because we have to wait for confirmation before taking position.


    3. #3
      FX Vampire
      I am:
      Amazed
       
      shantu will become famous soon enough shantu's Avatar
      Posts
      2,016
      Accumulated bonus
      515 USD (What is this?)
      Thanks
      73
      Thanked 74 Times in 61 Posts

      Default

      Quote Originally Posted by SIMPLEMAN     
      Dear respected forum members pleas learn from my recent experience, on the 13th of july, i saw a very good resistance position on the AUDUSD on daily time frame and without checking for other factors i placed a sell market believing that the market must collapse that point having covered over 450pips in an journey of about 30 days of continuous buy, but i was wrong the market broke the price at 0.7750 and took out that resistance level like a hot knife would go through a butter,i was foolish to skip my stop loss and i used high lot because of my confidence that the market must reverse at that point, and today my account is gone, please learn from me there is no mountain the the forex market can not climb and there is no valley it can not go under.
      I think everything is spontaneous and everything has a reason behind it and you can not just predicted straightaway through the looking at the chart in fact you have to properly analysed it on the basis of the mathematical and theoretical concerns of the market only then you will be able to sort out these complexities and the patterns that are involved in this market.
      Let Yourself be Taken Away by the Stronger Pull of What you Truly Love. -Rumi


    4. #4
      MT5 Maniac
      I am:
      ----
       
      maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum has a reputation beyond repute maximum's Avatar
      Posts
      3,601
      Accumulated bonus
      1341 USD (What is this?)
      Thanks
      781
      Thanked 2,398 Times in 1,175 Posts

      Default

      There are many factors that a forex trader should consider before opining positions in the forex market, even if you are a pure price action trader, a resistance or support is not enough to take a trading decisions, other prices behavior or patterns should be looked into and again every resistance or support must not hold, at times they fail


    5. #5
      MT5 Maniac
      I am:
      Fine
       
      NewBeginning is a name known to all NewBeginning is a name known to all NewBeginning is a name known to all NewBeginning is a name known to all NewBeginning is a name known to all NewBeginning is a name known to all NewBeginning's Avatar
      Posts
      3,172
      Accumulated bonus
      787 USD (What is this?)
      Thanks
      139
      Thanked 657 Times in 322 Posts

      Default

      This is one mistake that newbie traders do, they tend to rely too much on what they saw on the chart, but the truth is market never follows any technical pattern or whatsoever, they are boss so they can shift directions anytime and anyway they like, traders must be always prepared to this uncertainty that is why risk management is always recommended.


    6. #6
      MT5 Maniac
      I am:
      Relaxed
       
      DaveBenroe is just really nice DaveBenroe is just really nice DaveBenroe is just really nice DaveBenroe is just really nice DaveBenroe's Avatar
      Posts
      3,047
      Accumulated bonus
      664 USD (What is this?)
      Thanks
      104
      Thanked 374 Times in 256 Posts

      Default

      That is a very costly mistake. A trader should always put in stop loss and that is one thing I appreciate about those who design Forex platform: they put in stop loss such that you don't have any reason to complain. They put all the f`ault of losing at one's doorstep.

      Do you know you are not the only one in this kind of setup? This happened to me during my early days as a Newbie Forex trader, I am so confident of myself that I believe stop loss is for chicken hearted traders and I learned my lesson in a hard way. My account got wiped out under 1 hour and that made me a more serious-minded trader who is ready to follow the basic principles of profitable forex trading.

      Since my episode, I never feel over-confident; I make sure I always use stop loss on all my trades.
      BE WEALTHY IF U WANNA BE !
      BE WRETCHED IF U CHOOSE TO BE !!

      THE CHOICE IS YOURS !!!


    7. #7
      FX Vampire
      I am:
      Fine
       
      Jotirmoy Roy is on a distinguished road Jotirmoy Roy's Avatar
      Posts
      1,973
      Accumulated bonus
      332 USD (What is this?)
      Thanks
      1
      Thanked 32 Times in 27 Posts

      Default

      From my personal trading experience i can say that there is no high or low point in this Forex market. You can not tell that market already reached at the highest point or you can not tell that market already reached at the lowest point. Avoid taking advance trade by guessing the highest or lowest point.


    8. #8
      It's time to retire!
      I am:
      ----
       
      shoab chow is a glorious beacon of light shoab chow is a glorious beacon of light shoab chow is a glorious beacon of light shoab chow is a glorious beacon of light shoab chow is a glorious beacon of light shoab chow is a glorious beacon of light shoab chow's Avatar
      Posts
      19,015
      Accumulated bonus
      4145 USD (What is this?)
      Thanks
      95
      Thanked 556 Times in 444 Posts

      Default

      Actually this is very difficult to assume about the peak of the forex trading positions and also where it can move for some time as a side ways. The forex market is a very unpredictable market and we can do mistake at any time. So, we must have to use a protective measure by placing the stop loss and keeping the leverage smaller.


    9. #9
      FX Vampire
      I am:
      Busy
       
      CratosFX will become famous soon enough CratosFX's Avatar
      Posts
      1,721
      Accumulated bonus
      217 USD (What is this?)
      Thanks
      22
      Thanked 74 Times in 57 Posts

      Default

      I'm sorry you lost your account but if you don't have proper money management that happens. Your experience is best example what happens when you dont place stop loss and don't cut your losses short. The most important rules of money management are never risk more than 2% of your account on single trade and always place stop loss. You have broken both and that is what the end result is.


    10. #10
      FX Zombie
      I am:
      ----
       
      maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus has a reputation beyond repute maxiipus's Avatar
      Posts
      2,798
      Accumulated bonus
      1718 USD (What is this?)
      caught pokemons
      2 (What is this?)
      Thanks
      3,697
      Thanked 3,674 Times in 1,130 Posts

      Default

      Quote Originally Posted by maximum     
      There are many factors that a forex trader should consider before opining positions in the forex market, even if you are a pure price action trader, a resistance or support is not enough to take a trading decisions, other prices behavior or patterns should be looked into and again every resistance or support must not hold, at times they fail
      opening a position in the market means that we are risking our money and the risk of losing our money is inevitable, as a trader analyze the market before opening a trade position is a must and we need to always calculate and also manage our risk we will be taking because without proper risk and reward management, trading will be really risky and hard to gain profits


    Reply to thread
    Page 1 of 2 1 2

    Posting Permissions

    • You may not post new threads
    • You may not post replies
    • You may not post attachments
    • You may not edit your posts