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  1. #31
    Moderator Kolyo's Avatar
    Quote Originally Posted by sofaking View Post
    Lots of great info here, thanks. SO many threads and forums. Would take a lifetime to get through it all.
    Yep, sofaking! That’s true. So many hidden treasures here! We need to dig into this and move up this thread as it is really very important one and great discussion
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  2. Thanks hebermin thanked this post
  3. #32
    Rookie Member
    Quote Originally Posted by Dan21 View Post
    I think good strategies and successful approaches go hand in hand with a stable mind. No strategy is always bringing back the same winning rate. Sometimes the market is weird and you might find out that your great, very well worked and tested strategy is no longer that good. This is when you start to lose a bit more than the honest typical losses and here the only thing that can save you from stupid actions is your psychology, being mastered to perfection. I don't believe that you can possibly turn trading into an automatic process. There are too many factors that constantly change the picture and worse (or better) - they are often connected which makes it even harder to just stick to an approach that seams to be good. A calm trader does not fear the market changes and adapts his strategy to them. Also he doesn't feel angry or disappointed at the market because of more OTMs. He doesn't try to bring lost money back immediately. He analyzes charts, finds logic in the trends and keeps on improving till money come back. Also, I've noticed that people who try to automatize their trading habits, stop reading at some point and that's very wrong. Like any other business you need to be on track with the new stuff and to sometimes take a look just to remind yourself about the old stuff. There are whole books on trading psychology, because it really is an essential part of things.

    It's important to have a strategy that we can adjust according to the market moves in order to have a good win rate.

  4. #33
    Junior Member astravars's Avatar
    I think I just have found my bedtime reading will be useful as hell though, that's for sure.

  5. #34
    Rookie Member TheBinaryAdvisor's Avatar
    Emotions characterize us as human beings. Throughout the day we get different emotional charges, depending on the situations we face: something pleasant makes us happy, bad news gets us angry, etc. But sometimes we must try to forget about our feelings and become cold-blooded, relying solely on instincts. Letting go of emotions also refers to trading and is very important in order to persevere in this activity.

    The first and the worst feeling you get when you trade is the feeling of greediness. After making a couple of successful trades, you start building up confidence, which rapidly evolves in greediness. This feeling will eclipse you logical thinking, and will push you towards stupid decisions. After every successful trade, think about the risks you take when investing in the next asset, and remember: Rome wasn’t built in one day.

    Next feeling that ruins you chances of success is fear. During the trading session, anxiety suddenly strikes you, forcing you to doubt the investments you have just made. Fear is common during trading, but must be avoided at all cost. Instead of fearing to lose, accept the fact that everyone makes mistakes from time to time. Cope with the loss, learn from your mistake, and move on.

    Always focus on your mind strength, try to develop some good qualities that will help you make healthy decisions. For example, be disciplined, make a choice and accept it, stop fearing the consequence of that decision. Be patient when trading, do not force things. There are days ahead when you will be able to make more profit.

  6. Thanks alexhiggins thanked this post
  7. #35
    Rookie Member Brucepowell's Avatar
    Quote Originally Posted by Okane View Post
    1. The market is nothing more than people reacting to supply and demand.
    So yes, if more people buy apples, then apples will become more expensive thus supply decreases.
    Eventually there will be a bigger supply and therefore price falls back again so the buying strategy won't be working
    anymore.

    2. Most of us are trading BO, we are not trading IN the market. So even if there was a billion of us
    who would trade the same asset and position in the same directing nothing would happen.
    I am totally agree with your thoughts

  8. #36
    Rookie Member
    This innovative product allows you to earn on the financial markets without trading independently: by investing funds in the accounts of experienced traders. The traders who manage the PAMM Accounts receive additional profit for successful trades.
    Source: "Investments in Forex and

  9. #37
    Master Member SeasaltMcFish's Avatar
    nijam, if you try to sell a scam here, you're in the wrong place. We have a trash can for those items.

    It's a big BIG mistake to let people manage your account folks. It will cost you lots of money and probably bust you complete trading account asap.

    There's nothing innovative about running other peoples accounts to the ground!

  10. #38
    Junior Member BinaryScamSniffer's Avatar
    The first and foremost mistake that i notice almost every time when somebody is asked his opinion about binary options trading, is the fact that they always blame the broker for their losses. Indeed, as a relatively new trading variation, BO in overcrowded with scam brokers that are trying to take advantage of traders’ misinformation and steal their money, this being the reason why binary options traders must run the extra mile to hinder such situations.
    However, if the chosen broker is 100% trusted, regulated by 3 licensing bodies and well known online for the good reviews, but still you have lost every single penny from your capital budget, you should rather analayse and rectify your strategy than blame it blindly on the broker and binary options as a whole. It is possible to struck it rich by trading binary options and so many traders worldwide have a stable, high reward. Thus, the underlying principle of a properly built trading mindset is not to hold the presumption that despite your performance you will remain penniless because of the broker. Take responsibility for your decisions and learn from your previous mistakes. This way your trading experience will definitely be prolific.
    The second thing to consider is that this activity requires a lot of time and commitment in order to be productive. If you are unaware of the life changing financial events, trends and news but still want to trade as a part time job for the alluring reward, understand that this way you are rather prone to loss. In trading passion is definitely an advantage that gives you more chances to win compared to those driven by the profit.
    To conclude, the distinctive qualities of a successful trader are full responsibility of their actions, up to date information and the willingness to learn from your mistakes. Having these three and a good trading software, nothing will stand on your way.

  11. #39
    Legendry Member willyw's Avatar
    Quote Originally Posted by nijam81 View Post
    This innovative product allows you to earn on the financial markets without trading independently: by investing funds in the accounts of experienced traders. The traders who manage the PAMM Accounts receive additional profit for successful trades.
    Source: "Investments in Forex and
    As seasaltMCfish mention, this place is not for scams. Our community teaches traders to trade and not let brokers manage accounts.

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