QUOTE(johnsmith00710 @ Jun 27 2013, 01:27 PM)
Why we are here in the world of for-ex?
What is the purpose people stick to there monitors ?
why is that people acting weird are they having continuous mood swings ?
no they are not acting weird neither they became monitor lover or computer maniac lets find all these answers by exploring the world of for-ex.
For-ex is a market where you can be a rich person or a poor so here we talk about how to save your self from becoming poor.
so for that we have to learn how to manage your money because if you don not take necessary steps to manage your money you cant survive.
money management =>
money management is a fine line that differentiate between loosers and winners without doing it you are just gambling.You are just dreaming to be a big shot in one night and wakes up in your grave of loss.Money management is a lip sevice done by mostly every trader but very few got the guts to do it. The reason is very simple and straight it happens due to the dryness.It forces the trader to monitor there positions constantly and accept the necessory losses which is a very painfull process impossible and impossible for most of the traders
note that a tader must earn 100% on his/her capital which is accomplished by very few people around the world wide for gaining equity back to its orignal point by using some techniques like break even drown down.
in this section lets talk abot what and why we need to mange the risk.its quite simple if you envision big capital/profit/money/happines/ease/luxuries then manging your risk is the only option you have for long term success.Traders are divided in two catagories professional traders and im-mature/new traders. s0 lets have a look on all those factors which differentiate trhe traders.
as you all know forex is a market where people make money by applyng diffent techniques if there is a new trader who just joins the feild he'll be thinking about not only making money but alots of money on my personal experience that is the first step which leads to the demise of your capital/investments/equity. in opposition to that if you follow the professional traders they always think about how much they can loose.you must be thinking we are here for earning not loosing? so lets take a deep look new traders analyse the market check the trend of market and enter the market with thinking where they come out nor any stop loss neither they care about lot size.Brake even is a serious sin so they never even dream about it in the end you'll find their whole familyn friends in the church praying for the market to be in their favour.
now if we talk about professionals they analyse the market make strategies fix their targets plan their trading styles take out averages think about the loss they can handel mark the exit points scratching thousands of signals reading hundreds of reports/articles/fb pages/twiters and in the end theyenter in market. once their trading starts you find them satisfying their fanticies in minimised tabs.
dont be tensed i dont wana make you workholic maniac rarely a trader is right 100%of the time thanks to unpridictibilty of forex but you canstratigise it in your favour by following some other steps
determine your entry.
identify your risk.
take necessory losses
project your potential.
go to step 1 and follow
last but not least keep reading my articles for understanding the above mentioned rules.
Really there are no special rules. I mean you can copy report, ebook and so one, but you can't copy SUCCESS!. SUCCESS is can't be copied. Do you know any successful people that copied another successful people? the person does not exist in the world and will never exist.
I meant not one lucky bet in binary option trading or so, but I mean long term success, who also can teach others. One of most important thing in business world, that not so rich people can be better mentor than those whose make million per month. True learning is not copying.
I really agree saying to answer to yourself: how much I can lose, rather than how much I can earn, because safe for human is most important thing in this world. If he feels unsaved, fears will kill him very quickly.
Each break event is different from different people from different perspective from different timeThis post has been edited by f5mtadas: Jul 29 2013, 01:15 PM