riddick09 Posted November 11, 2012 Share Posted November 11, 2012 Not entirely you will create a new one but you are going to gather those that are necessary and will essential in your trading. You are going to make your trading strategy no matter what because we need that in order to make profitable trading if not we will more of less fail as usual.Though, it will difficult to start from scratch because we have here atleast some study about different strategies or trading plans. Quote Link to comment Share on other sites More sharing options...
alam3636 Posted November 11, 2012 Share Posted November 11, 2012 I think every one should have their trading rules, and not only making rules would be enough but we should follow them during our trades, those who cannot stick to their own rules cannot be expected to succeed in this market. Quote Link to comment Share on other sites More sharing options...
budado Posted November 15, 2012 Share Posted November 15, 2012 Its very important that you trade in demo account first. In this way you can develop your own trading rules. Me I don't mind that I'm trading in demo account and develop my own skills in their. Then I can try to trade in real account and just modified it in their to suits my capital. I hope I can make good income in forex trading and that's why I investing too much in developing my own strategy. Quote Link to comment Share on other sites More sharing options...
luke1 Posted December 26, 2012 Share Posted December 26, 2012 It is a good thing, if we have good experience in Forex trading, then we can make our own decision here to know and to trade on Forex market here. But, we still have to keep learning and shring with the fellow good traders here. So, we can make good profit and consistent. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted December 27, 2012 Share Posted December 27, 2012 I think there is nothing wrong in we making our rules.it would go a long way to help us.what is making forex rules.it is we going the extra miles to implement self control and when there is self control we would be able to put everything about forex under check. Quote Link to comment Share on other sites More sharing options...
budado Posted December 28, 2012 Share Posted December 28, 2012 I still have one account that will be active next month and another account that will be active march 1. So in short I still have two more accounts that going to be added in my list of accounts. I hope I can make good with all of this accounts. After I invested in my last account I will going to stop investing. I will going to trade and trade and hope that I will going to reach a point in which I can make profit month after month without fails. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted December 28, 2012 Share Posted December 28, 2012 I think that is a good trading strategy you already set up for yourself.i like your positivity and that is that you want to make profit every month and likewisely you setting a target month is likely greatly.i too would be setting mine but it would be next year. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted December 30, 2012 Share Posted December 30, 2012 Of course, we need to build our confidence. And also to have trust to ourselves. Specially, that we have here the trading strategy that we have used for awhile and the confidence that this will be enough and will help our trading for the better results. We should not have focus on our trading strategy or trading plans because there are unforeseen events and things that we need to be aware and be ready. Quote Link to comment Share on other sites More sharing options...
indieover Posted December 30, 2012 Share Posted December 30, 2012 You have to develop your knowledge and skills so that you would be able to gain more confidence. It's hard top be confident if you had not done you're part in learning forex so you have yup balance your confidence and the jars work also, so it's not all about confidence and yet you have not tried to learn forex well. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted December 31, 2012 Share Posted December 31, 2012 I think majority tend to fail in forex because they have a dead self confidence.guys tend to forget that building a self confidence is important.Meanwhile i think it is important we likewisely have a vision in forex meaning we should be setting targets. Quote Link to comment Share on other sites More sharing options...
tirus Posted January 1, 2013 Share Posted January 1, 2013 Knowledge and practice is really quite important when it comes to boosting your self confidence indeed because you cannot be confident about something that you do not know about. This is why one would tend to have more confidence as he is seeing results from demo account trading for example. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted January 5, 2013 Share Posted January 5, 2013 Yeah that's true.Trying to build self confidence is a major key we need in forex.When we dont have self confidence,then taking some risk wouldn't be visible since we wouldn't be having the believe that we could do it and that is succeed in decision taking. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted January 5, 2013 Share Posted January 5, 2013 My first rule is to have a game plan because we should know have a plan before entering a trade. And as for me it should be a rule because there are many traders who are entering in a trade without a plan they just trade for the sake of trading. Also when our method of trading is working you should stick with it and don't change it. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted January 6, 2013 Share Posted January 6, 2013 Sincerely i see nothing bad in having a plan.A forex newbies having studied many plans where he got many skills and strategies can go ahead to develop his or her own working plan that would be beneficial to his trading that is that would be positive always. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted January 6, 2013 Share Posted January 6, 2013 If it's for our good then we should stick with our rules because the main reason why we are having rules because we want to get things done better because it can prevent some of our bad habits in trading when we set a rules and can avoid some losses. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted January 8, 2013 Share Posted January 8, 2013 Yeah having our personnal rules would be helping us develop self control.if we have self control in forex then there would be an every chance we would be killing our bad habits and avoid any form of mistake that might want to raise its head when we trading. Quote Link to comment Share on other sites More sharing options...
monyitomon Posted January 8, 2013 Share Posted January 8, 2013 You should ensure that you will follow that rules becuase you know it's our own rules we might just not pay attention to it. But if you really think that those rules are meant to make you better then you should try your best to follow that rules because you come up with that rules because you think it needed. Quote Link to comment Share on other sites More sharing options...
Syrine22 Posted January 9, 2013 Share Posted January 9, 2013 Sincerely what makes us have rules is when we have gone through much practice.much practise would be helping us in diffrentiating a long term strategy that would be working for long and a short term strategy that would be around for a short period of time. Quote Link to comment Share on other sites More sharing options...
standart Posted January 20, 2013 Share Posted January 20, 2013 not to hard in making personal trading rules as far as traders already figuring out what trading system they will use previously. basically, trading rule and strategy is working along with the traders trading system and if traders still have no trading system, making trading rule and strategy would be very difficult. Quote Link to comment Share on other sites More sharing options...
tirus Posted January 20, 2013 Share Posted January 20, 2013 There are always guidelines that assist us to be able to to trade better and strategically so that we can realise profits. One also needs to have a tested strategy because it also helps to set a framework within which you are going to be trading and following these when trading would help realise profits. Quote Link to comment Share on other sites More sharing options...
riddick09 Posted January 27, 2013 Share Posted January 27, 2013 Everyone has their own target profits and therefore, they will have different trading plans to follow. They can have unique one though, the goal of a trader is always to make profits and to not have losses. But I think we all know that in Forex we will definitely able to improve our trading plans also when we wanted to have better profits. Quote Link to comment Share on other sites More sharing options...
budado Posted January 27, 2013 Share Posted January 27, 2013 Its good if we know forex basic 101 first. Then we can simply improved our strategy from their. Me I started trading learning basic strategies and do some experiments and that's how I come up with my own set of rules. I know my rules are not perfect but its good to have some guide when we trade than theirs no guide at all when we trade. I hope I can end up making good profit after three months. Quote Link to comment Share on other sites More sharing options...
chintu Posted January 27, 2013 Share Posted January 27, 2013 Every one have there own trading rules and i am sure that following the trading rules is really very important to have a profitable trade all the time . i know the trading tactics of all the traders will be different so its depend on the traders trading way weather he earns profit of loss . you know the market will be changing in just fraction of seconds . Quote Link to comment Share on other sites More sharing options...
PROPENSITY100 Posted March 1, 2013 Share Posted March 1, 2013 Developing good plans and strategies and sticking to the plans is crucial to achieve success in Forex. To develop good plans we need to have thorough knowledge and experience. Without planning Forex is simply gambling. Quote Link to comment Share on other sites More sharing options...
pepy Posted March 1, 2013 Share Posted March 1, 2013 i think to create our own rules we need to read some guidelines and also some experience that shared by experienced traders, with that i think we can created our own rules, basically what we need to know is we don't have to be overconfident or greedy when we trade in forex. Quote Link to comment Share on other sites More sharing options...
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