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Japanese boat jump risk management technique Replied 8 hours ago - Let us look at a practical example, on the charts there is an upward trend but after price crossed the pre-frankfurt hour high a bearish candle formed which shows a danger of reversal of trend just like the danger the bridge posed to the boat man. A way to manage this risk is to close the buy position (exit the boat), wait for price to close abover the red candle (cross the bridge on foot), then re-enter the buy position when it does( jump back into the boat). Hope this helps guys!
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is it good to keep shifting my stop loss as price nears it? Replied 2 days ago - šŸ‘
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win rate or risk to reward; which is more important? Replied 2 days ago - Risk to reward is superior to win rate. For example, you executed 10trades and you won three out of the ten with risk to reward ratio of 3. Your win trades will be at 9rr . Remember you lost 7trades, thatā€™s 7rr . Overall, you are still profitable with a 2rr. Hence, risk to reward is better than win rate.
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how do I know when i am gambling during trading? Replied 2 days ago - When you dont have specific/objective entry and exit parameters, you will definitely be gambling because anything goes for you. You will chase every trade and expose yourself to unnecessary risk.
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what do you check for before you open a buy/sell trade? Replied 2 days ago - I check the spread of the currency pair I am about to trade. If the spread is higher than what I was expecting, i will leave the pair. Strategy wise, I make sure the pair has presented my trade opportunity before I click a buy or a sell.
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whats the best risk to reward ratio in forex? Replied 2 days ago - The best risk to reward ratio is totally dependent on personality and strategy. Personally, based on my strategy my best risk to reward ratio is 1:3. I can always do more if the opportunity presents itself but the moment my trades gets to 1:3 , i secure at least 1:2 and let the rest ride .
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is trading a game of probability? Replied 2 days ago - When you study behavioural finance, you will learn that investors often take decisions based on emotions like fear even when the numbers are right in front of them. Because of this, even when the technicals show you that price is supposed to move in a certain direction, you can suddenly see a reversal and move in the opposite direction. So, nothing is guaranteed in trading, making it a game of chance.
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what is FOMO in trading & how does it manifest? Replied 3 days ago - 4. Emotional Decisions Decisions are driven by fear rather than analysis. Can cause impulsive entry or exit from trades. 5. Chasing Trends Traders feel they must ā€œride the trendā€ after itā€™s already moving fast. This often results in buying high and selling low, which is the opposite of smart trading practice.
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why you should have a daily loss limit in forex Replied 5 days ago - Shout out to prop firms for promoting loss limits in trading. Its very important for discipline
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how to know when to exit a trade? Replied 6 days ago - What do you mean by automating the process?
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how will i know if i'm a profitable trader Replied 1 week ago - To determine if you're a profitable trader, with good psychology and risk management, check for; - consistent profits, - disciplined and emotional control - low drawdowns - positive trading edge - confidence under pressure and ongoing improvement through analysis and adaptation and moreover less losses.
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How Do I Take Partial Profit on MT5 Without Closing The Trade? Replied 1 week ago - Alright . Thank you
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RISK MANAGEMENT Replied 1 week ago - Risk management is not trading but trading is risk management
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You are in trading to make money, not to avoid losses Replied 1 week ago - If you are the kind of trader who always like to be right then this might lead you to commit the "sin of early entry" where you enter a trade prematurely because you want to set a tight stop loss. By doing this, you achieve quite the opposite as your stop loss will be hit easily when you fall for a fakeout.
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stay alive long enough for probabilities to work Replied 1 week ago - The market tends to reveal you to yourself. The market is a revealer. Trading is all about the discovery of yourself.
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how do i spot volatility on charts without using indicators? Replied 2 weeks ago - When volatility is high, your broker could reduce leverage. On the charts you also see unusually tall candlesticks
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Wait for the market to act before you react Replied 2 weeks ago - It all comes down to being patient. Back in the day when I started trading I was so impatient. Sometimes I would not even wait for a candle to finish forming and I would just assume it would closed a certain way and then I jump into the market. Goes without saying I paid dearly as I was always making losses. Sometimes I would see a bearish candle forming and I would just jump into the market assuming it will close bearish, only for it to close bullish.
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In the forex market, fear has many faces Replied 3 weeks ago - Fear of losing profits, I had to battle with that one for one year šŸ˜‚
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No position is still a position Replied 3 weeks ago - Welll said! But this is easier said than done, the urge to trade always wins lol
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The smaller the candles, the bigger the lot size Replied 3 weeks ago - Small or short looking candles are a sign of low volatility most times it is when the market is expecting a news release that you see short candles forming everywhere. For me i would not trade when I see short candles all over the place, but I agree with you- trading a bigger lot size will mean even with the short candles you can still make good money as price moves.
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