anyone need help?

[Bio318]

I want to understand something about trading thoughts, because overconfident or reverse direction is very difficult to be defeated. I have seen too many men and women fail because of terrible trading thoughts.

Thus many traders are not in the right mindset when trading. 95% of people who try trading will fail and be unable to make any money in the trading. 1 thing that will ruin a person when trading is emotion. Folks try to overthink what they are doing too. #8203;

I've discovered that in many times, sitting on the sidelines just watching charts and making fewer trades is much more beneficial. I really don't merely make a trade so that I have a trade available. I will sit, and see a pair until all of a sudden, something will leap out at me and that I understand with almost a warranty, which direction price is going to go and have a pretty good idea of how far it's going as well. Lack and patience of emotion are 2 factors of a person.

[Bio318]

I thought I would just make a post to have this thread back to the beginning of the forum so people would have a better prospect of seeing it.

Go ahead and ask, I am all ears.

[zarepkh]

I know, I was making a point!

And yes thank you I do know it I don't need to regret posting my thoughts and people treating me as I'm stupid.

Like I originally have stated in my first post I was simply asking about stop-loss and breakeven.

It's difficult to convey sarcasm with words on a screen.

[Bruneymendwz]

- I have read whole thread and physiology consensus was that 'greed' was primary...well fear is mine. Any suggestions to overcome the fear?

I feel the consensus I have attained, in addition to others is that; YES greed is your primary. However, FEAR is caused by greed.

It might not be greed how that you think of it basically, you could say people are greedy they want money. Greed = wanting more.
Yet, in case you've got a fear of losing your money, is not that in and of itself greed? You cannot give up your money. I haven't done the way to describe this so perhaps someone else can shed the light, but greed and fear are highly intertwined.



So how can you overcome the fear of yourself then. . .Experience/time?

To Shed fear\greed.
Have complete confidence on your own system (time, experience). It could not be possible for you to have absolute confidence in your system until you've got complete confidence in your self though.
Realize you'll have draw downs. And dwell through some draw downs.

Finally - start small... use a broker which lets buying micro lots, and begin using your machine with .5% risk, and each month of success bump up your risk a couple %. IT TAKES TIME - but it is going to teach what you can and can not do, and give you confidence.

I have the distinct sense people aren't interested at Micro lots because in each lot, a pip is worth approximately $.10. But you can adjust it by buying a lot of lots - to fit your risk profile. A LOT O LOTS!

[Bio318]

quote If you refer to 16 pips Might it mean you are including the last number (the 5th decimal place) which people have a tendency to discount in forex, thus making your spread 1.6 pips instead of 16 pips.

Hey yousley, read what oilnoob said. In case you cant undersrand eurusd pair spread, the last thing you ought to do is trading gbpnzd. #8203;

[Bio318]

Pursue away. If there are questions you've got or anyone else has, and they are not answered right, don't hesitate to ask again. Continue until you know pursuing. That is the way you learn this substance.

[zarepkh]

That is exactly what everyone would think about a 16 pip spread ASK 1.08192 Bid 1.08032 ------------------ The gap between the two is 160 points AKA 16 pips.

So is that normal then a 16 pip spread to your most frequent pairing?

Maybe I must get a new broker - I hate the concept of having to make, for eg, 190 pips for the gbp/nzd to breakeven!

Anyway, I will try and adhere to the lowest!!!

[gokzalwz_rafata]

1. When I started, when the markets were open, it was time to exchange. I don't care for Fridays and I am to the stage Mondays arent very good either. Many might not agree. It may be the way I trade.

2. This question is. Someone else might have the ability to answer it. I think the day of thanksgiving, Christmas, and New Years will be dead. The day after those days might be movers. I'm not sure how exactly that works.

3. Ranging is a great thing sometimes. If you know the area of a top, take a short. When it reaches the floor, close it (easier said than done). And I am not sure when things will be back to usual. Can I just say back to normal? Forex does not know that word. Perhaps there just needs to be some sort of interest change or some drastic news come out to push things in a specific direction.

Thanks for the information, much appreciated! I am still interested in #2:

Hope you do not mind me pursuing this question:

Does anyone know exactly what days throughout the Holidays (Nov, Dec, and Jan) ought to be avoided and which may be large movers following the Holidays?

[franl2]

That is exactly what everyone would think about a 16 pip spread

ASK 1.08192
Bid 1.08032
------------------
The difference between both is 160 points AKA 16 pips.

[zarepkh]

quote When you refer to 16 pips Might it mean you are including the last number (the 5th decimal place) which individuals have a tendency to discount in FX, hence producing your disperse 1.6 pips rather than 16 pips.

Yer that is probably it. As I mentioned before I am relatively new to all this. I just go by what is in my mt4 screen.

I have posted a screen capture of what I watch at mt4.

Thanks for all of your help renasdad and oilnoob

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