Literature about trading

Discussion in 'For novice traders' started by Volkov Yuriy, Aug 24, 2017.

  1. NewbieTrader

    NewbieTrader Member

    agreed. and in case you want to start using real penny but still hesitating, after going back to your training notes once more, try cent account. so you can use little real penny instead :D
     
  2. Tengkorakfx

    Tengkorakfx Member

    This is a very useful method if you want to sharpen your analysis skills, but it;s not a good one if you want to ear real money. I mean, who wants to ear few cents from many trades that they made for days or weeks?
     
  3. NewbieTrader

    NewbieTrader Member

    yeah true. it's about how big of a risk you're willing to take and how much money you're willing to risk. so if you can only risk a little, that means you can only make as little.
     
  4. broforex

    broforex Member

    Risk and reward, this word is always makes me confused, I know that risk and reward is 1:3, but it is hard to do. Can you tell me how to discipline with this theory, I just lose and lose, it is hard to get 1:3 reward ratio, thank you.
     
  5. NewbieTrader

    NewbieTrader Member

    hmmm i think the ratio depends on yourself. it's like a target you set for yourself. If 1:3 is too hard then go for 1:2. Or even 1:1 if you're still learning. push hard but don't be too hard on yourself.
     
  6. Tengkorakfx

    Tengkorakfx Member

    This kind of ration can't be found on any technican analysis or trading system that you learned. It's better to learn a simple trading system that yields at least 1:2 profit ratio so that your trading mental won't be that hard when trading
     
  7. NewbieTrader

    NewbieTrader Member

    exactly. that's why when mr. broforex said 1:3 is the ideal ratio, i countered it with the fact that it depends on the trader itself. and strategy. and etc. so many other factors!
     
  8. Tengkorakfx

    Tengkorakfx Member

    But since we're applying 1:3 trading ratio, it doesn't mean that we shouldn't take care to the risk itself. Calculate the risks first (ideally, 2-5% of risks per trade) then look for the trading opportunity that yields the said ratios.
     
  9. broforex

    broforex Member

    Yes, 1:3 is just my opinion and will definitely return to each individual, so many strategies, so many factors that can make you gain some profit or even make you loss. We have to wise to face Forex market.
     
  10. NewbieTrader

    NewbieTrader Member

    true that. if anyone wants to check their level of wisdom, they should trade. Back to the ratio, yes it depends on each individual and their strategy. I am content with 1:2. Good enough for me.
     

Share This Page