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Forex tips for the Beginners

29 Sep 2012

Hey guys
When you are trading in the Forex than follow these rules
You must have the appropriate knowledge about the trading
Do not be greedy too much
Dont be more panic when you are in loss
Be patience

improving organizational performance

  385 Views · 27 Replies ( Last reply by zebratro )


All about Demo account

26 Nov 2010

I made thread of demo account here to discuss anything about demo account. Do you think it was necessary to use demo account? Or How long do you think we must move from demo account to real account? Is demo account effective as our learning in forex? And many things about demo account discussion. You can ask and share here.

Okay lets start to talk about this friend :)

  1,110 Views · 76 Replies ( Last reply by zebratro )


Stop Loss: "Restrict" Losses, Not "Accelerate...

13 Nov 2010

I deliberately chose the topic of Stop Loss, because many of my friends trader, especially a beginner trader (newbie) that "cured" using the Stop Loss facility

Most assume that the Stop Loss is "accelerating" the loss and consider it as a culprit for the negative results of the open positions are taken so that the capital eroded bit by bit. For that reason, many are finally daring to trade without Stop Loss. I say "desperate" because of Stop Loss is actually functioning as well as the brake for that learning to ride a bike. Imagine if people learn to ride a bicycle without brakes, yes ... you got hell ...

Trading without a Stop Loss is a quick look tempting, because we feel never "wrong position". Indeed, in general, prices usually move up and down on a certain range, so there are times indeed when we finally get a floating minus profit as well. In the end many of my friends who think newbie: wow, it means safe ... let this floating position, At the future also eventually profit also ...

hey, wait a minute ... there are certain times when the price returns to its original position after rocking quite a distance. As if willing, to get plus 5 pips, before floating minus 300 pips first? Hehehe ... That's also when there is "good luck" ... may be even more ahead Margin Call is coming rather than profit ...

Stop Loss was intended to protect us from losses that are too big. Do not let us have "just completely wrong position" ... Hmmm, really "just completely wrong position"? Yes ... mean just completely wrong position then immediately got Margin Call, the capital was gone ... so you quite to become a trader ...

Ok ... think we've agreed that Stop Loss was indeed necessary. Now the problem is, how does the Stop Loss right? Well, if to determine how many points the right, frankly I was not able ...

I can only suggest to try to pay attention to the following:

• Try to see the range of daily movement of the pair that we take. Each pair has different characteristics. For example: if for EUR / USD, maybe SL of 30 points is enough, but if for GBP / JPY? weh, you got lost in a short time
• Alternatively, we can use parabolic SAR point at the beginning of a trend as the benchmark determination of Stop Loss
• Or, we can use the Fibonacci levels as the benchmark determination retracement TP and SL
• One thing is for sure, set the SL at how many dollars "that we are able to Relax" when we were wrong position

What I suggest above is just an example ... Each trader is entitled to choose "fate" of his own ... It all depends on the trading plan and the indicators used by each trader

Anyway, there's one more thing that needs to be understood in relation to the Stop Loss. Magnitude SL range will affect the degree of confidence we will be successful achievement of the TP. The point? Here's ... I instantly love ya ... examples Suppose we express the results of the analysis of GBP / JPY will rise as much as 50 points. Ok, we set the TP by 50 points. So, what about SLnya? If we determine the SL by 30 points, then the degree of confidence we will achieve the TP only about 40% for example, alias'm not too sure TP will be achieved. Now, if we added a SL of 50 points, the degree of confidence increased to eg 50% or fifty-fifty between TP or SL is a kesentuh first. Now, if we added another SL, a 150-point example, the degree of confidence we rose again to 100% or 100% we believe that the TP will be achieved because SL far enough to reach up. So the wide range of SL, the higher the degree of our belief that the TP will be achieved

That is why, many traders hooked to Open Position without SL. the term "must have" achieved the TP, was negative floating up to hundreds of pips also "maintained" with TP only 5pips ... hehehe ... The only limitation negative floating yes only available margin ... I used to joke with this kind of dub traders as traders adherents of belief Stop Loss = Margin Call

Well, actually it's the right of each trader hell ... just, frankly, I am sad to see many of my friends are dying because traders get MC because of trading without this SL

My advice, it is better if we immediately realize that we were wrong, and fix it. Usually, if you are already got floating minus a lot of pips, we tend not bring myself to do Cut Loss ... instead resigned to waiting for the arrival of Margin Call, hoping against hope prices reversed course ... hehehe ... sure you do not like, this feeling is so awful ...

  520 Views · 27 Replies ( Last reply by zebratro )

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