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Consequences of betting against the trend

Discussion in 'FOREX Forums' started by Adam Smith, Jul 14, 2017.

  1. Adam Smith

    Adam Smith Member

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    The Forex market does not reward the cowardly people. Traders who trade the market using the decisions of other people always lose money in the market. The percentage of winners in the forex trading industry is extremely small. Out of 100 traders, only 5 traders are successful in making money in Forex. The other 95 traders are always lose. Those who are making a consistent profit are the smart traders who know the perfect way to trade.

    Many traders think that, as the crowd cannot win the market of Forex, they need to trade the market in another way. This is when they start to trade the market against the trend. They have strong logic for them. All traders of Forex suggest that people trade with the trend. If it were really true, would not the number of Forex successful traders be rising? The number is very small and they have to trend the market in the other direction of the trend. In doing so, they lose their money and also their capital in the market.

    You should trade with the trend

    Keep this one sentence in your mind, “Trend is your friend”. As long as you are a trader in Forex, do not forget that. The trend is not the only reason traders lose in the market. Most traders trade with the trend. But it does not end there. You have to make the correct strategy and find the time when it is profitable to enter the market. If you enter the market at the wrong time, which most the traders do, the trend will not help you.

    Also, not many traders have their own strategy. They try to listen to what the other traders are saying and think of them as experts. They are, most of the time, the most amateur traders in Forex and this is the reason they are trading in groups. But if you look at the expert traders at Saxo, you will notice that every single one of them trades based on their own market analysis. No one can predict the future price movement of a certain asset 100 percent accurately, so it is better to lose money based on our own decisions rather than blindly following others.

    When you have developed your own strategy, you will become confident and you will not listen to what the other traders are saying in the market. You will use your own method to trade in your online trading account. You cannot do that if you go against the trend. Always trade with the trend in the market, just like professional traders at Singapore.

    Risk management factors
    Trading in favor of the trend is one of the key ingredients to becoming a successful trader. In order to maintain consistency, you must follow proper risk management factors in every single trade. Try to do your technical analysis in the higher time frame, as it will give you more precise and reliable trading signals. If you are relatively new to trading, use your demo trading account to master the basic trading skills. As a professional trader, you should never risk more than 2 percent of your account capital in single trade, even though you might have the best trade setups. If you face consecutive losses don’t try to recover your losses immediately, but rather take a day off and start trading with a fresh mentality after a break.

    Conclusion: Keep an eye on the market trend. As long as you trade in market trend, you will be making a profit. Always focus on quality trade execution and use the price action trading signal to trade at the key support and resistance level. Last but not the least never trade with money that you can’t afford to lose.
     
  2. emmanuelglover

    emmanuelglover New Member

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    Can I use the money I earned from trading to play poker online?
     
  3. adamroberson

    adamroberson New Member

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    You can use all the money you earn as you want. If you want to play poker using cryptocurrency, then I would advise you to look for special poker sites. Personally, I use the best online crypto poker which helps me relax every night while playing poker. Most importantly, gambling is prohibited in my country, but I don't worry about it, since my actions are completely anonymous, and I also use a VPN. The most important thing is not to get too involved in the game of poker, it's still a passion that can lead to the loss of your money.
     
    #3 adamroberson, Jun 22, 2020
    Last edited: Jun 24, 2020
  4. Barbara Corona

    Barbara Corona New Member

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    Most major currency pairs on the FX market are valued to four decimal places, so one pip is usually the fourth decimal place. For example, in GBP/USD prrice 0.0001 is one pip. There are some exceptions, such as Japanese Yen, which only display two decimal digits. So, the pip will be the last digit after the decimal point. Most currency pairs are presented with 2 or 4 decimal places.
     
  5. TimPaige

    TimPaige New Member

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    I Have heard reviews from many people and I don't even know If i should trying traiding because many people are very negative about this.
     

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