bearhugs

It's about allowing the law of large number to play out your edge in the markets. To become a forex trader you need to have a trading system that works. Having some indicators on some charts is not a trading system.

Most trading education tells you to use a 1:2 or greater risk to reward. The bigger the better. It is a good policy to always have a stop loss but use it intelligently. You need to use a reasonable stop loss so you don’t get stopped out on every trade.

First of all, a trader has to figure out how to be profitable, which usually comes down to creating or adjusting their trading strategies to fit the trader's personality, trading schedule, profit and risk appetites.

Forex is not a way to gain easy money, you should be up-to-date all the time, analyze a lot of factors. Otherwise, if you don't really understand what you're doing, it's just a kind of gambling for you.

Testing your strategy in a demo account with virtual money is useless. It doesn’t reflect real life trading situations. You can make fabulous amounts of profits in demo accounts, but cannot replicate it in a real account.

It is because that is how currency pairs behave. They are volatile and behave strongly in opening and closing of certain markets. A good strategy is to place stop losses well to avoid being bankrupt.

Forex trading is a full-time job, you cannot do it in your spare time. You should learn how to adapt yourself to the market. forex is not a shortcut for making money.

Forex is not a get rich quick scheme! Forex traders do not know the importance of forming a trading plan while trading. This is, in fact, essential for trading successfully in this highly volatile market. The Forex market often lacks a clear direction.

When choosing a Forex broker, you should always consider security, support, fees, and regulations before you decide. You should also know that finding a broker, can be difficult because a lot of different traders has different opinions.

It is my understanding that choosing the right broker is the second most important step in succeeding in this market, next to having an effective and proven trade strategy plan. If you already have a futures broker, you can also trade Currency Futures.

The problem with signal providers these days is that there is a lot of misuse, as it is less regulated than becoming a hedge fund. Everyone can become a signal provider these days. Knowing the accurate signal is crucial. Sure, you have practiced times when you entered the trade and waited during the changing zone while some other pair was making a solid step.

Trading has really given me the opportunity to experience a certain degree of freedom that most people can only dream of. Success in trading is more than spotting patterns and using the right indicators. Trading is a performance skill, one you have to sharpen and be consistent with every single trade.

Trading should be considered like any other business. As any other business, there are opportunities and risks. Like any other business, in order to be profitable, you guys need to have a process in place, to learn a skills set and to be ready to hard work.

There is no definition to bring any specific amount in Forex for any particular strategy. So it is not important to discuss it, you can bring any amount which you afford to a lose in Forex.

It is a too old post to define the Forex System the OP has provided here. It might happen that OP is not active now with the forum also. So not important to bump the old post.

Forex trading is unique due to the volatility. Become proficient at one and you can be proficient at the other. Filter everything and as you grow as a trader and develop your mindset and climb the mountain retain the important info and discard the fluff. Always think outside the box and be a contrarian.

Forex is a really difficult business. To make money with forex, you have to know the technique and have enough experience or you lose more than what you make. The good thing about forex is that you do not have to be worried about competition.

First, there's no short-cut. Either commit to spending hundreds of hours developing professional skills or don't begin at all. If it was easy, we'd all be millionaires. Learning is the endless process here in Forex trading.

There are a different type of traders, trading is business like any other business. You need to focus on building your own Forex strategy that allows you to make money consistently each month, don’t focus on making a lot of money really fast, because it will come with time.

Forex market is the only market truly open 24 hours a day. From the opening of the Australian market on Monday morning to the closing bell of the New York market on Friday afternoon, the Forex market never sleeps.

If you invest more, you can make more. It really depends on a lot of factors. It really depends a lot on how much capital you have. No matter how much you know or how skillful you are. The more trading capital and skill you have the more "likely" it is for you to keep trading net profitably over time.

In scalping, the time period preferred will depend on the technical strategy. Scalpers preferring choppy conditions may find an excellent environment for practicing their skills and refining their talents during this period.

Create a positive mindset and reach optimal trading performance through mental preparation. Mental health is an important aspect of trading. Forex trading has plenty to do with strategy, mindset, and performance. Having an effective routine is the great way to strengthen and condition your mindset before trading.

Financial markets are inefficient in a number of ways, measured by such properties as momentum, mean reversion, seasonality, cointegration, price asymmetry etc. Traders that are unable to articulate and quantify their edge are in effect just gambling.

Learn everything you can about Forex. Learn about the best hours for trading in your time zone. Learn to read candlestick charts over multiple time frames for price patterns. Don’t trade real money until you have at least a few months of success in the demo.