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Position trading means long term trading. You open your trades and run them for weeks or months. The more experienced you’re, the more you’ll likely let your profits run. Why would you go for 50 pips when the markets still have the room to move in your favor by 500 pips? That’s position trading. The more you run your profits, the more money you make. As for the EURUSD, the price is falling as this thought is being typed. – April 21
There are two reasons why many won’t make money in Forex. 1. They hate trading because they think it’s hard. So you can’t succeed at what you hate. Before you can succeed at Forex, you need to love the markets. 2. It would take you a long time to be a successful trader. many people look for short-cuts and the markets offer no such. That’s why they keep on buying robots after robots, systems after systems, with the same poor results. Before you can make it you need to practice for a long time. – April 22
Stops and targets are part of basic risk control tools. Stops are therefore not better than targets. More in the list are trailing stops, breakeven stops, position sizes, and discipline. Risk control is the most powerful weapon in the markets: without that it may be very difficult to enjoy permanent success in the markets, no matter your trading methodology. Do you want to learn more about risk control? – April 23
What do you mean by top traders? Do you mean the richest traders or the traders with the most points made or the traders with the most gains gathered? Or do they mean traders who’ve been surviving the markets for several decades? Longevity and consistency are what matter most in the markets. When one makes an annual 20% on $3,000,000,000, he looks like a champion, but when one makes an annual 80% on $200 account, who would take him serious? – April 24
Yes, currency pairs and crosses have small % gains and losses when compared to stocks. But we must remember that stocks are different from currencies in nature. I’ve seen traders that make significant gains on in Forex. One Russian Forex trader made a gain of 3500% in less than 5 days (when the BoJ weakened the Yen). He doubled the account 35 times in a week, but that’s suicide trading, since one mayn’t last long with that kind of high risk. – April 25
The truth here is: there are some qualities that must be borne by all business owners – no matter what type of business they’re engaged in. On the other hand, online trading requires some unique skills and principles that mayn’t be relevant to other businesses. That’s why many people who’ve gone to business schools find online trading a big challenge, until they learn how the markets really work. – April 26
Forex traders come from anywhere in the world. The markets work for everybody regardless of age, sex, color, nationality, religious beliefs, and education background. However, majority of market wizards I know come from the Western world. This is because the Western world had grasped the potential of trading far long before other parts of the world get to know this. For example, Until less than a decade ago, my own part of the world didn’t grasp the potential of trading. Even right now, some are yet to come to terms with this fact. – April 27
Yes, order flow trading is great in that it lets you know what the institutions are doing right now. Most institutions are lining up to buy at great supply and demand levels and that’s what rookies ought to be doing. Demand and supply levels are great, even with some volatile and strongly trending pairs like JPY pairs. PRICE IS KING. And it’s the most important indicator of all times. The price is what shows the real fact of what’s happening right now. , but that’s not to say that indicators are worthless. If you base your trading on price action and you fail to manage your risk and money, you’ll still fail at last. With money management and risk control, even those who use indicators can be triumphant. – April 28
