Trade Management

You're right. Personal knowledge is a crucial thing in trading. Neither books nor articles can teach you how to trade sucsessfully, they'll just give you some basic knowledge.
 
Trailling stop is a powerful tool, but I learned from discussions that not that many traders actually use it. And if we take newbies, we will see that they don't understand what it is and how it works at all.
 
Trade management is one of the most important things for a trader to think of at the very start of their career. They should have more theoretical knowledge to facilitate their adoptation into the real market.
 
Absolutely..! That is where fear disappears and greed enters. However, that is precisely the position where discipline is essential. The other golden rule is, when you are not sure, exit..!
 
Absolutely. Not only that but putting a stop loss is also as important as entering the trade. This is where discipline comes in, the middle path between greed and fear.
 
One thing i noticed when looking for information about trading strategies. Is that people tend to focus on the entry of the trade but often overlook the exit.

I think I am beginning to get a good sense of when i should enter the market. But the right time to exit is still something I need to work on.
Several times i had found my self opening a couple of trades and after a while the combined profit is 400-500 pips a go to bed only to wake up only to see some of my trades hit the stop loss and some are loosing.


Trade management is very important. You have to be disciplined and organized in your trading. A solid trading plan, money management, risk management, and risk reward ratio all should have been specified. One of the reasons most traders fail because they are not disciplined in their trading.
 
I don't agree. What does it mean discipline in trading? If you trade on the algorithm, then create a robot. Without a clear algorithm, it is difficult to discipline anything.
 
Successful trade management and profitable deals means first of all self control. It's important to be coldhearted and confident trader and not to let your emotions and provocations influence you.
 
Management is the necessary tool for the quality achievements and this fact holds on the Forex market as well. You need to make yourself well managed and organized in order to take quality decision about your future trades and investments. Do you people agree with me?
 
Algorithm is a good thing, but Forex doesn't always follow any particular one. There're exeptions as this market is influencesd by a lot of factors that a robot won't be able to understand.
 
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