View Poll Results: The most important thing to take in consideration when trading Forex is:

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  • Money Managment

    12 37.50%
  • Good strategy, successful by 80%

    5 15.63%
  • Fx broker

    1 3.13%
  • All of the above

    14 43.75%
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  1. #1
    Fx Whale Chaser Array scarface's Avatar
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    Lightbulb what is the most important thing(s) to know before going to trade real in Forex?

    Dear All,

    Good day,

    From now on, I will try my best to spend some time here with you all at II to share my knowledge with you especially with beginners so we can guide you all to the right way in this big market,

    as you can see from the title, the question is " what is the most important thing(s) to know before going to trade real in Forex??"

    I want to hear out all of you posting your opinions and reasons of thinking this or that way,

    I will do my best to point out on the main points and edges in forex so you avoid a lot of none useful stuff.

    Waiting to hear from you all,

    P.S: please vote on what you think is most important factor for you in trading forex as indicated above

    Best wishes,

    Scarface
    Last edited by scarface; 12-07-2010 at 05:11 AM.
    a New Year 2011 has come, and the challenge has just started

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  3. #2
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    Hey, scarface,

    You are sounding as if you are some kind of authority, yes?

    And what exactly are your credentials?
    Last edited by conglo; 12-07-2010 at 05:10 AM.

  4. #3
    Platinum Member Array chetachukwu's Avatar
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    Two of the things you need to know is 1 You need to have good knowledge about the market.
    2 Not every thing that glitters is gold.

  5. #4
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    Wow. Dude.. that is DEEP, man.

    Quote Originally Posted by chetachukwu View Post
    Two of the things you need to know is 1 You need to have good knowledge about the market.
    2 Not every thing that glitters is gold.

  6. #5
    Fx Whale Chaser Array scarface's Avatar
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    Quote Originally Posted by conglo View Post
    Hey, scarface,

    You are sounding as if you are some kind of authority, yes?

    And what exactly are your credentials?
    Hi conglo,

    Good day,

    I'm a mod here at II, but because of too much load of work, I couldn't be in touch frequently....

    However, here I'm back to kick some butts off...

    I just want to traders in general what they think about the essential factor to be succesful in this market, and in turn, I would share what I think as well.

    Best wishes,

    Scarface..
    a New Year 2011 has come, and the challenge has just started

  7. #6
    Fx Whale Chaser Array scarface's Avatar
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    Quote Originally Posted by chetachukwu View Post
    Two of the things you need to know is 1 You need to have good knowledge about the market.
    2 Not every thing that glitters is gold.
    Hi chetachukwu,

    Good day,

    good point of view... how about the poll?? can you vote also on one of the choices above if you don't mind, please...

    By the way, did you get my PM for your request??

    Please let me know,

    Best wishes,

    SF
    a New Year 2011 has come, and the challenge has just started

  8. #7
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    I don't think the opinion of traders in general is of any importance, as at least 90% of traders are losing money, meaning, they don't know what they are doing.

    No disrespect intended, please be clear on that point; but - being a moderator does not mean that you are a successful trader.

    If you are, then instead of asking the opinion of losing traders, please don't waste everyone's time, just share what you know to be important.

    The opinions of those who are incapable are worthless.

    Again- no disrespect intended, I just have no tolerance for BS.


    Quote Originally Posted by scarface View Post
    Hi conglo,

    Good day,

    I'm a mod here at II, but because of too much load of work, I couldn't be in touch frequently....

    However, here I'm back to kick some butts off...

    I just want to traders in general what they think about the essential factor to be succesful in this market, and in turn, I would share what I think as well.

    Best wishes,

    Scarface..
    Last edited by conglo; 12-07-2010 at 05:34 AM.

  9. #8
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    The points are all important, no weakness permitted, everything matters.

    About 80% successful:
    There are systems with a 10% success ratio but due to a very good profit:loss ratio they are profitable ....
    Another option not above: risk management. Good risk management is what allows you to make money with a system which has a win:lose ratio of less than 55% .

  10. The Following User Says Thank You to PhiSquared2618 For This Useful Post:


  11. #9
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    What are you saying? Are you saying that the opinions of rookie traders with no experience carry equal weight to those who may trade for a living?
    Would you say the opinion of a tradesman's apprentice is as valuable as that of a journeyman with thirty years experience?

    "Everything matters"? What does that mean? I respond with, "Nothing matters". It is just as meaningless.



    Quote Originally Posted by PhiSquared2618 View Post
    The points are all important, no weakness permitted, everything matters.

    About 80% successful:
    There are systems with a 10% success ratio but due to a very good profit:loss ratio they are profitable ....
    Another option not above: risk management. Good risk management is what allows you to make money with a system which has a win:lose ratio of less than 55% .
    Last edited by conglo; 12-07-2010 at 07:42 AM.

  12. #10
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    Quote Originally Posted by conglo View Post
    What are you saying? Are you saying that the opinions of rookie traders with no experience carry equal weight to those who may trade for a living?
    Would you say the opinion of a tradesman's apprentice is as valuable as that of a journeyman with thirty years experience?.
    No I did not say anything like that. I did not make a comment on anybody else's experience or lack of it. That was you.

    Quote Originally Posted by conglo View Post
    "Everything matters"? What does that mean? I respond with, "Nothing matters". It is just as meaningless.
    It is an answer to the thread from the OP. It is in context and very clear.
    I said everything listed in the poll matters, and I said risk management is not listed, but it should be.

    It is not meaningless. My statement "Everything matters" is crystal clear. Any weak part of the trading process will compromise the other parts sooner rather than later.
    Last edited by PhiSquared2618; 12-07-2010 at 09:51 AM.

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