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Three Popular Questions for Beginner Traders

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bolami

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Inspired by the reading source '3 Popular Questions New Forex Traders Ask' written by Rob Pasche, then allow me to open the topic of discussion:

What are the three questions;

1. Is there the most appropriate indicator used in forex trading?
My short answer is "NO". Because there is no single indicator that is more accurate than other indicators, or that can guarantee certain and profitable. Every technical indicator has a purpose only as identification and prediction, will be profitable if used properly.

2. How many pips can be made / earned in a day or a week from a trader?
My answer is that in forex trading, setting targets based on the pips obtained is incorrect and can damage our trading performance.

3. Actually which time frame is the most suitable for trading?
My answer is that the use of a time frame in trading can be adjusted to our daily schedule and busyness.


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#1 - November 21, 2021, 10:39:37 PM

changerfx

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In my opinion, none of the indicators is better than the others, that's clear. indicators are only tools to identify trends. Exactly what you said. The number of pips generated depends on a daily or weekly basis. Let's say we talk daily. if the target is more than 30 pips once the OP should be divided by two or three or four and so on.. And don't force it to happen on the same day.
#2 - November 21, 2021, 11:13:12 PM

kafas11

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If the minimum number of pips that can be generated in a week or month can still be fought fairly, but it can indeed damage our performance if we force trading when the market has not given the right signal. Most suitable, you should not have to target profit but focus on the market itself, if the market forms a setup, of course do the OP without hesitation.
#3 - November 21, 2021, 11:13:47 PM

projoabu

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for the size of how many pips can be obtained of course this is very relative. for novice traders, it is important because it relates to the profit target to be achieved. sometimes they ignore the current market conditions because they only focus on the number of pips that can be earned that day.
#4 - November 21, 2021, 11:14:35 PM

Aguero

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These are a reasonable question, and this will be able to be answered easily when we have a good trading system and have been tested, and we have good trading planning
#5 - November 21, 2021, 11:36:55 PM

cahyopratomo233

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most novice traders often ask, capital, technique, profit for loss is not in question.
#6 - November 22, 2021, 02:17:06 AM

ngetik

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the most interesting part in my opinion is the second point, target pips, this is what often becomes a burden when we have a target in trading, but it doesn't feel good to trade without a target, looking for a large number of pips is certainly relatively difficult, maybe more interesting when talking about targets is a percentage of the capital we deposit for trading
#7 - November 23, 2021, 11:30:48 PM

kafas11

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When we talk about targets there is a tendency in our minds to achieve them, either in a normal way or up normal.
so if you want to trade well, we should throw away the thought of target profit because it can poison our thinking while in front of the chart.
#8 - November 23, 2021, 11:31:25 PM

projoabu

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Even in terms of setting profit targets, we can't set a patent for a certain percentage in a day or a month... because it will become a mental and psychological burden for us in trading... but the determination is flexible or has a target range... considering the movement a dynamic market that changes every day
#9 - November 23, 2021, 11:32:19 PM

ngetik

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Quote from: projoabu on November 23, 2021, 11:32:19 PM
Even in terms of setting profit targets, we can't set a patent for a certain percentage in a day or a month... because it will become a mental and psychological burden for us in trading... but the determination is flexible or has a target range... considering the movement a dynamic market that changes every day
I also initially felt that setting a patent profit target every month could be dangerous for us mentally and psychologically. But by making a profit target to a minimum, it doesn't interfere mentally and psychologically. For example, in a month we can get 50% profit, just make a profit target of 25% a month, so this is not too disturbing and can even spur us to trade with more attention to risk.
#10 - November 24, 2021, 10:24:32 PM

momot

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If possible, there should be no monthly profit target, so the trading activities we do are only limited to controlling the risk of loss and every transaction is only installed with take profit and stop loss with an ideal Risk Reward. if the trader is able to carry out trading with discipline and consistency, it is not impossible to get maximum profit every month
#11 - November 24, 2021, 10:25:27 PM

bolami

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Beginners often ask and I think the most asked by beginners is what percentage of profits we can get in forex trading within one month.
#12 - December 06, 2021, 10:47:29 PM

Budnga

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The use of pips or points must be in accordance with what you can because when you want to reach certain points to win you can try yourself. If you really can't, you should just do a few points that are important for you to be consistent.
#13 - December 06, 2021, 10:49:45 PM

pulang47

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Actually, there are many more, but most of the questions asked are indicators and what is the profit target. This is closely related to analysis and money management. In doing analysis using indicators, sometimes we want an op signal that is always true without any false signals.
#14 - December 07, 2021, 10:59:49 PM

lama22

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indicators are actually not functioned to show future price movements, it's just that from these indicators we can find out some important data. From this important data, we can know what is really going on in the market, and then we can draw conclusions from the data series
#15 - December 07, 2021, 11:00:43 PM
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