Early success in forex is worse than early failure

[ashouq]

Early success without little knowledge can be seen as a fluke. It's only if the trader doesn't notice this then it can become very risky later on.

If i am not wrong then such success might be due to the trader's luck and can last for short time only. So better start learning more and enhance our skills to last longer in trading market.

 

[Ziker]

yeah, I completely agree. Traders who got lucky at the start begin to thing they're professionals and after such a thought they get a deposit loss.

 

[ashouq]

Blowing account is easier than making a significant improvement in it.. every thing requires training and experience which comes up with practice and learning.

 

[Martin Gaptil]

Absolutely, I have seen, many traders were making huge amount of money in their initial stage of trading but now they are not available here! Yes, they left Forex market! So, if you get quick success in your early trading session don’t lose your momentum! Make a proper trading plan based on your long journey! Don’t be emotional here, be logical!

 

[ashouq]

Leaving the forex trading is not the solution in my opinion, traders who have lost money in trading should take some time learning from the mistakes and revive again if they wish to become successful future trader.

 

[Michelle Yeoh]

It’s true! I see new traders judge their trading skill and their trading strategy t early! Like, when they get only 3-4 TP’s consistently, they deposit initially and go for live trading! Listen, you can’t judge your trading strategy unless making 500 trades (minimum).

 

[inggo]

well its not like an option between the two, its simply making the best of what you have, if you earn early and was able to learn from it and continue then by all means do so, if you fail early like i did when i first joined hotforex and i was a total noob, i simply continued and made it so far, its been like 6 years and im glad i still trade, better than any other day job really.

 

[Ary Barroso]

Agree it, too early success may lead to over confident, it may cause more lost in the future. However, early failure maybe better, you will be more careful next time.

Yes, this is why, new traders start their live trading too early! When they get 3-4 profit trades in a row, then they start to think they are trading with a Holy Grail! They have a tendency of making huge money within a quick session! But, success is a long term process here!

 

[ashouq]

But, success is a long term process here!

I completely agree as the success does not comes over the night and so does the riches, we have to work hard in order to earn money and get success in any part of our life.

 

[Ary Barroso]

I totally agree with you. Succeeding at the beginning without really understanding how it happened is a vary dangerous game. It gives you the ability to feel like you are in control and that you have the upper hand and will always succeed. However this is not the case and it is a lesson everyone should take. It is not so much succeeding at the beginning but succeeding without understanding how you did it. If you fail you tend to look at the reasons why and try and correct them, so you learn. If you succeed then you dont really look into how this happened and you may feel like the next trade you make will have the same result but it can hurt you.

Learning from own trading mistake is the best practice! Although; a number of traders take their own trading mistakes casually!

 

[Helloyees]

That's totally true, that's why do not concentrate even on that demo accounts or like they call in any other ways and that's really it. Just do your job like you should with real live money account and be good that way. Thanks for reminding that info.

 

[Adam Jackson]

Definitely every trader wants success in the forex market. But it is not that easy carrying out trading activities can be ensured always. A foreign currency exchange trader must try to keep up his trading performance with care so that haphazard trading performance may force him to remain a failure here. Every time a trader is closing to failure he can lose his attention and confidence at the same time.

 

[Ulacan]

I agree with you that it is better for a new trader to incur losses rather than extreme success at the onset of the trading journey. It helps you overcome fear, and you also do not become overconfident, which results from early success. If you lose, you also become able to handle any challenge that comes your way

 

[Dictorsto]

It is not an issue that new traders will make success in the early stage of their trading. I think that the issue comes when they get overconfident in their strategy and skills due to that first success. This is why it is always important to keep emotions away from Forex market

 

[Baazex]

For new traders early success can effect them only, many people in other businesses dont consider forex a serious business where they can make money for living newbies need to understand this there is no short cut and no way to succeed without learning and experience.

 

[TFA]

in forex you can have big losses one day big profits another, i guess got to try and be more consistent