Home > Boards > Forex > General > Forex Technical Review

Aggressive trading psychology in Forex Market

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Hunny Gee Member Profile
 
Followed By 0
Posts 6
Boards Moderated 0
Alias Born 03/08/11
160x600 placeholder
Top Stories of the Day
TOP STORIES Premier Foods Shares Seen as Undervalued -- Market Talk
Top Company News of the Day
Corn Futures Falls as Rainfall is Expected -- Daily Grain Highlights
Front Month Nymex Natural Gas Rose 10.51% This Week to Settle at $4.0600 -- Data Talk
Front Month Nymex RBOB Gasoline Rose 1.67% This Week to Settle at $2.2913 -- Data Talk
Grimmway Farms Recalls Certain Carrots Due to Risk of Salmonella
Kimberly-Clark Reports 2Q Results, Offers Guidance -- Commodity Comment
GDP Growth Expected to Accelerate in 2Q -- Data Week Ahead
Veoneer Shares Touch 52-week High, Magna Plans to Acquire Co.
AbbVie Gets FDA OK for Pediatric Skin Infection Drug
FTSE 100 Index Ends the Week 0.28% Higher at 7027.58 -- Data Talk
STOXX Europe 50 Index Ends the Week 0.84% Higher at 3558.08 -- Data Talk
CAC 40 Index Ends the Week 1.68% Higher at 6568.82 -- Data Talk
DAX Ends the Week 0.83% Higher at 15669.29 -- Data Talk
STOXX Europe 600 Index Ends the Week 1.49% Higher at 461.51 -- Data Talk
EURO STOXX 50 Index Ends the Week 1.82% Higher at 4109.10 -- Data Talk
FTSE 100 Closed Higher Despite Volatile Week
Vonovia Unlikely to Secure Enough Support From Deutsche Wohnen Shareholders to Pursue Takeover
Kimberly-Clark Keeps Forecast of Favorable FX in 2021 -- Currency Comment
U.S. Economic Growth Moderated in July -- IHS Markit
Veoneer Shares Climb on Magna Acquisition Deal
FTSE Rises, Covid-19 Strategy and Brexit Tensions Could Hit Pound
AstraZeneca's Bydureon BCise Gets U.S. Approval For Type 2 Diabetes in Pediatric Patients
Hunny Gee   Tuesday, 03/08/11 10:28:01 PM
Re: None
Post # of 268 
Aggressive trading psychology in Forex Market

aggressive Aggressive trading psychology in Forex Market

Each forex currency pair has their specific behavior which

differentiates itself from other currency pairs; similarly each

trader have their own different trading style and strategies.

In this article we are going to focus on aggressive traders and how

they plan their trades. We will highlight the factors that traders

who are looking to follow an aggressive trading style should

understand.

Being aggressive doesn’t mean using large stop loss or for that

matter using no stop loss. Also it doesn’t mean entering many trades

at a time and closing the ones that are in profit and let the ones

that are in negative stay open, I will term that type of trading as

reckless trading and this type of trading cannot produce profits.

Now explaining what I mean by aggressive trading; for example when we

consider retracements using fibonacci, the weaker levels generally

lay around 25% to 35% while stronger levels are generally around 50%

to 61.8% levels. What aggressive traders do is that they focus on

both levels and conservative traders wait for their opportunities

around the stronger levels.

Aggressive forex traders can either choose to enter at both levels

separately or sometimes can use strong trading levels to average out

the first trade. Since the aggressive trading requires more number of

entries therefore the margin required for trading also is reflected

in the same manner and margin requirement is on the higher side.

Similarly the risk and profit factor are on the higher side for

aggressive trading as there are instances when there are multiple

transactions open up and averaging each other.

Another thing to remember, like all other factors, one should be very

consistent in trading and should be following one consistent

strategy. As the risk and reward factor is very high, generally only

traders with large account size and reasonable experience indulge in

such trading style.

Although I do not recommend aggressive trading, traders who are into

it should manage their risk % appropriately and accept the high risk,

high reward mentality. If you think that is not for you, I would

recommend you to trade like majority of the pros do – By picking only

the best trades with price action confirmation.

This way, although we trade lesser but we have a higher winning

probability.
Forex is a psychology game, choose your path, demo it first and if it

works for you. Stick to it whole heartedly. Do not jump ship when a

new INTERESTING strategy comes along and you will be back to square

1. However if your strategy is not working for you, find out the

problem, tweak it and keep practicing it til you got it perfected.

If you still have not found success in forex, check out our AFM

winning Forex Course. It compromises of the whole system which

traders need in order to trade successfully.

See you on the other side!

Asia Forex Mentor
Ezekiel Chew
Asia #1 Forex Mentor www.asiaforexmentor.com

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences