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The goal of a successful trader is to make the best trades. Money is secondary. – Alexander Elder
Hello, my dear friends and fellow community members.
1. INTRODUCTION
To make sure that we, the members of the Dukascopy Community are profitable each and every month I want to share with you an idea that if we put into practice then we will definitely be in profits at the end of each month. We have to find out a system, in which our stop loss and take profit is predefined. Also, we have to make sure that our take profit level is at least 3 times from the traded price as much as the stop loss is.
2. THE PLAN
We will put 1% of our account at risk on every trade. And we will aim for 3% of the account if we are right. To understand what I am talking about, we need to do a simple mathematics. Let us say that we took 10 trades in a month in this manner, where we risked 1% to gain 3%. And let us say that 5 trades were not in our favor. In other words, the stop-loss was triggered. The price hitting stop-loss 5 times means we have lost 5% of our entire capital(as we had 1% at risk on each trade and 1*5=5). At the same time out of 10, we have also won the five trades. Winning 5 trades mean that …
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Well done!

Verona888 12 Mar.

nice work!

Thank you all for your support and kind words. I hope that my ideas help you in executing your trades with confidence. I wish you all a very profitable year.

good article

WizWiz 20 Mar.

impressive article!!!!

10/23
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Today I will write very personal article for me. I think that we need to share our experience on market, if we are real traders.
I am sure that most of those who will read it, will do not understand me, and my action, and will say - "You're an idiot!". Anyway, I honestly will tell you about it.
August 20, 2012, had very little time to 13 September 2012, when QE3 was launched in the United States, and Eurozone debt crisis would be finished. Two events, after which the dollar began its non-stop fall down. At that time, I had some problems in my life about which I will not talk in this article. Let me just say that I was very angry at the whole world, and even on the market, although it is very silly.
The market does not know anything about our existence, it does nothing to spite us. In all our losses we must blame only ourselves. I understand it now, and I knew it at the time. However, I went on principle. I decided that I could beat the market. I decided that I could be more stubborn than the market. And August 20, 2012 I made short EUR/USD trade, at the 1.2459 level. As I recall, take-profit was only 1.2409, just 50 pips. And I did not use stop-loss. I decided that I was going …
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peachynicnic p.s. Strong storm at this moment in Macau / Zhuhai. I think in Hong Kong the same. I hope you at home and closed all windows. I forgot to close the window when walking out of home - and when i return 2 hours ago - half of my apartment was flooded with water, and I need to paint one wall))

Airmike 16 Sep.

Maksim - nice article. I know exactly how you felt. every single trader has to do own mistakes to learn. smart people say its better to learn from mistakes of other. but it doesn't work so well. now you know what you don't want and its just question of time to find painless way :) you can check my article about collecting and cutting exposure. maybe can help.

Airmike  Thank you, i will check your article)

Nice article - thanks for sharing your experience with us ) To err is human - but to accept that you have erred requires courage. Bravo !!

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yuvraj23 22 Aug.

Indeed, yur al info is really useful bro.

kawser 24 Aug.

wow awesome Ritesh......Good luck buddy.....

Dieselfx 24 Aug.

nice looking charts, yes, fibos in the wright hands they can do miracles

highwayman 27 Aug.

Promising Way To Set Targets +1

ushma 31 Aug.

I wish you good luck this month+1