In Trading...Trust only your Experience

Discussion in 'Investment Strategies' started by demeanor, Oct 8, 2010.

  1. pb360x

    pb360x New Member

    Please take this advise in the business world. Know your friends and enemies, well almost all will be your competitor. You can apply the saying, "keep friends close and your enemies, closer"

    Know where to join and to when to stop.
  2. zapper

    zapper Active Member

    Of course true!. But in case of trading where an opinion or advice in the wrong direction is not going to help one gain an unfair advantage over you, if they were also trading with you. It is only possible that you experience bad luck if they were not trading the same things you are and so, they may be taking revenge on you, by giving their "Friendly Advice".
  3. If you cannot afford to lose, you cannot afford to win. Losing is a not a must but it is the natural in any trading market. Trading should be always done using excess money in your savings. Before you start to trade in Forex, we suggest you to put aside some of your income to set up your own investment funds and trade only using that funds.
  4. zapper

    zapper Active Member

    Also, money should be configured in such a way that even in case of a complete loss, we should be able to use some back-up money to power up the balance and continue trading. But, if such a condition arises, then it only means that we are not confident or good traders...
  5. luke1

    luke1 Banned

    Excellent... Some friends even we do not know if they want to take advantage from us.. Actually it is a wild world.. Online, or real world is about the same.. Experience is a good teacher, but not the best...
  6. Forumtech

    Forumtech Active Member

    This is a good strategy, as i see. Because, what helps most in life, when it comes to advice, is the one gives to yourself. So, the strategy you thought and planned by your, will definitely help to minimize the loose.
  7. Every trader must calculate risk and reward ratio before initiating any trade in the forex market. If a trader trades without calculating risk and reward for the particular trade then it would be very risky.
  8. chinedu234

    chinedu234 Member

    Experience is best teacher,but before that mistakes have to come and correction taken.Trading on experience is the best i have seen,but you have to listen to others to acquire more knowledge and practice them to see its workability .
  9. A traders must learn from their mistakes and try to improve his trading style then he can become a successful forex trader. A experienced trader can make good profit with smart trading strategies.
  10. yes trading forex we must find our trading strategy and use it regularly so we can know how it works very well...don't follow other people trading strategy cause sometimes it can't suite with ourself...don't be greedy when you do trading forex if you want to success..
  11. zapper

    zapper Active Member

    Other people`s trading strategies are good as long as you have your own reasons to trade. When it`s your account and your money, it is very much important that you take a close look at every point you mark on the chart, for your own good. Following multiple strategies while trading is also a very bad idea, as too many strategies may completely confuse you!.
  12. aditigupta

    aditigupta Member

    Yes having a good experience of trading matters a lot while trading. It helps you to manage risk in a better manner and earn yourself good returns.
  13. That's true, No one can provide the best learning in trading better than your own experience. If an investor is focused and self-disciplined he can plan hi trading very well, so making own good strategy provide best results to the trader and investor should trust only his planning. Keep focusing and keep going.
  14. Aarna singh

    Aarna singh Member

    Your suggestion is really very helpful, traders should learn from their experience.

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