What you have control of in the Forex Market

Discussion in 'For novice traders' started by Francmorio, Jun 29, 2019.

  1. Francmorio

    Francmorio Member

    Guys, don't be carried away by people who say your their strategies are more than 50% accurate. The truth is, there's only 50% chance that if you enter a trade, with any strategy, it will go your way. There's only 50 % chance. This brings us to what you can control in the forex market..
    1. The amount of money you're risking in a trade.
    2. When entering a trade.
    3. When exiting a trade.

    These are the only thing to focus on in the forex market!
     
  2. Tengkorakfx

    Tengkorakfx Active Member

    Since there are only up and down of the price movements, better start looking for a trading system that has more than 1:1 risk reward ratio. Cuz one can profit from the market even got more losses than winning trades.
     
  3. broforex

    broforex Member

    There are circumstances that occur outside the scope of our control. But how you react to them is not between them. You have control of emotions, reactions, and decisions. Most of us ignore this, especially when we trade. Instead of taking responsibility for bad trade, we blame the Forex market, brokers, charts, and sometimes even cats outside the window.
     
  4. Tengkorakfx

    Tengkorakfx Active Member

    The only one that should be blame is ourselves since we have taken the decisions and opportunities ahead us. It's still an okay if you are still taking chances rather than do nothing after all.
     
    broforex likes this.
  5. broforex

    broforex Member

    Yes, agree.. We might think that we are in control of our forex trading, but the reality is, forex traders have very little control when playing forex. That's all just an illusion.
     
  6. LeonardPoolei

    LeonardPoolei New Member

    I think is to contrl the amount of money and the risk you take
     
  7. broforex

    broforex Member

    Yes, agree with you. We just follow the trend, not a trend maker. Just focus on your strategy - money management - mindset, and you will survive in forex market.
     
  8. liafatlouie

    liafatlouie Member

    Nice Advice, Sir! Focus and get the profit :D
     
  9. broforex

    broforex Member

    Banking is one of the sectors that affects forex prices. The bank is connected with other banks through the interbank market with an electronic network based on a credit system. This means that the bank carries out this type of transaction if it only has a credit relationship.
     

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