Forex Tips : Learn Through Losses Part 02

1. It is about who is the loser, who is the winner.
 

It is not a computer strategy game, nor a try try game. It is your real money. If you lose, you are losing the money, the other will have your money. 

The question is, do you ever bother it needs skill to be a winner?

 2. Multiple time frame?

You may try to compare M1 time frame comes from M5 time frame, M5 time frame comes from M15 time frame, and so on. Time frame does not work byitself to win you the money. It is just a drawing.

The question is, do you feel the different of pressure from time frame?

  

3. Multiple Indicators? 

 

Indicators is specially made for multiple time frame, without it you won't be playing multiple time frame. Thinking of this indicator might not work, the others will do. Therefore finding the right indicator always look like a good start.

The question is, do you know that each indicator would work best at certain timeframe?

  

4. Every loss trade is your problem?

 

The simple most effective, you lose, you are blaming yourself and you would put in more money again, because of the emotion playing. Furthermore, the forex broker allow you to put in money at any amount, at any time. So you won't out of the forex game easily.

The question is, do you know how you lose? So that it won't repeat. 

  

5. Every thing look the same?


If putting an indicator, that indicator shows correct for this time frame and correct for that time frame. Then you could even adjust the parameters inside to make it work. It would look even more accurate.

The question is, do you know the weakness of each indicator?

 


 6. Indicator? 


It is very easy to explain for what is past is past. If the price is down, which indicator doesn't show down? However, does it predict the future? Doesn't the future make you a fortune?

The question is, do you trust that indicator 100%? 


 7. Winning USD30, everybody is happy about it.


When measure it with pips and time, it is a totally different story.
a) USD30 with 30pips, USD1 per pip, 30 minutes
b) USD30 with 30pips, USD1 per pip, 3 minutes
c) USD30 with 3pips, USD10per pip, 30 minutes
d) USD30 with 3pips, USD10per pip, 3 seconds
 

The answer might be :
a - very good (inclusive of loss trade)
b - looks nice (but don't know what happen the next 27 minutes, is it USD300)
c - poor skill
d - luck (what about 29minutes 27 seconds later?)

The question is, do you know where you are now?

 


 8. Rules of Quantity?
 

Playing trades in a M1, M5, M15 is definitely would be require more quantity of trades than H1.
However, would it be possible that playing trades in a M1, M5, M15 is require less quantity than H1?
Or, playing H1 with M1 strategies, therefore playing H1 = M1 total quantity of trades. 

The question is, does having more trade and less trade mean something?

  

9. Rules of bet per pip?

 

M1 per pip is a lot more higher time frame such as H1, H4, D1.
Would it be possible you play H1, H4, D1 per pip is higher than M1 per pip?
Or, playing any time frame with a fixed $ per pip. 

The question is, do you know how much is enough for a pip for different timeframe?
 

 10. Forex is for part timer only?
 

If your calculation is not salary based. How you would think it can be more than your salary?How much time and hard work you think you would like to spend in orderto cope with your current salary? 1 month experience in forex result =10 years of working per month salary?

The question is, do we ask too much?  

 

11. Forex is for part time only, cannot earn more than that? 

 

Strange, but true. You could earn the part time income in the forex, a full time income in the salary.
Weird to say, if you could earn money part time, but why not in full time? 

The question is, do you know how to count? 

 

12. Doubling your Bet for your working strategy?


If USD1 per pip wins you USD1000 per month, you would think of USD2 per pip wins you USD2000 per month. Replaced by:
With "Confirmed" winning and "Normal" playing strategy means with loss trade.
Sound weird? 

The question is, don't you know every trade you enter should be a winning trade?

 

13. Speeding up your Profit?


Increasing your bet based on your wins and loss based from the capital.Let's say your capital is USD1000, stay at 0.1% to trade, which is USD1per pip. If you win up USD500 weekly, the following week you could play is USD1.50 per pip, but stay at 0.1%. If you loss, the following weekis USD0.50 per pip.

The fact : No one will follow the 0.50 per pip once lose. Furthermore, it is slower to achieve your target.

Replace with:
Take out USD500 each time that you've won from the initial capital of USD1000. The more time of you taking out USD500 from the USD1000, the better it is. Prefer Ten (10) times. 

The question is, do you consider the losses as part of the course fee, that will earn you a lot if you study it well enough? 

 

14. I won before, but don't know why I am losing it now?


You must calculate:
a) Which hour have you been playing?
b) Weekly play, 5 day per week?
c) How much money you bet per trade?
d) How many pip you win per trade?
e) Each day win how many pip?
f) Which currency you are in?
g) How many trade at one time?

The question is, do you know what you are playing for?


15. I'm at the lost position now, what should I do?


When using USD1 per pip, you start to have a loss position.
a) buy another or sell another in the opposite position to save the lost.
b) buy another or sell another in the opposite position with higher bet such as USD2 per pip to save the lost.
c) exit everything, enter another trade.

The question is, do you need to know when to put in another trade?

 

16. I like to use indicators? Indicators can make decision.


It is not suitable for news trading and swing up-down in the candlestick.
People who use indicators tends to explore new and more indicators when they want to level up themselves. 

The question is, how many indicators is needed?


17. I want to be a winner of forex?
It is easier to say than done. 
Some say without the failure, you won't be able to know what is the meaning success. There are one main thing we all have, the habits.

The question is, do you know what is your bad habits while playing forex?