Frustration in Forex
- Thread starter SweetPrincess
- Start date
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Nobody is perfect. At any given point of time, any body can be frustrated due to some losses, bad performance but patience is the key.
Unfortunately, indeed, sometimes there are market disappointments, but if you draw conclusions and analyze the mistakes, then everything will be fine.
I agree! The first step should always be learning and to research well, then only a beginner should start to trade
Yes sometimes sh*t happens I think it is part of the business. Losses is integral part of trading they motive us to research and become better. It's important that newbies get correct understanding of the notion of profitable trading - a mix of winning and losing trades with end result being positive return on capital
You will never control the emotion associated with a losing trade. We're just not built that way. Every losing trade is frustrating, no matter how long you have been trading for, or how much experience you have gained. I hate losses, but I accept them and move on. What else can you do?
If you know your strategy inside-out, you'll also know that it has winning and losing streaks. It's your job, as a trader, to analyze your strategy's win/lose ratio, and more importantly its risk/reward ratio. What's your win/lose and risk/reward ratio? What do you really know and understand about your strategy?
My personal strategy delivers around a 50%-60% win rate, so I know up-front that 40% - 50% of my trades will be losers. They are frustrating, but I accept them and move on! My risk/reward is1:3 or better, averaging 45-50 pips on a loser, and 150 pips plus on a winner. I know this about my strategy because I am constantly monitoring its performance, and that gives me the confidence to consistently trade my signals. I still get frustrated, but I know my next reward is not far away!
If you know your strategy inside-out, you'll also know that it has winning and losing streaks. It's your job, as a trader, to analyze your strategy's win/lose ratio, and more importantly its risk/reward ratio. What's your win/lose and risk/reward ratio? What do you really know and understand about your strategy?
My personal strategy delivers around a 50%-60% win rate, so I know up-front that 40% - 50% of my trades will be losers. They are frustrating, but I accept them and move on! My risk/reward is1:3 or better, averaging 45-50 pips on a loser, and 150 pips plus on a winner. I know this about my strategy because I am constantly monitoring its performance, and that gives me the confidence to consistently trade my signals. I still get frustrated, but I know my next reward is not far away!
I think this also depends on the person but some see it as challenging (in a good way), and it's good for those who prefer to work alone.
being frustrated means that you put faith into your position and get nervous when the reality doesn't follow your expectations ; in trading, no one should have faith or expectation related feelings.
I agree. I have no doubt there are plenty of people out there who make a good living from trading on their own. One simply should be very self-aware regarding whether that is for them or not, once they learn enough about trading.
Frustration in any trade or professional life will lead towards loss. People often tend to take wrong decision out of frustration so be careful especially while trading in forex.
People say we should leave our emotions out of trading, but feeling frustration on losses in almost inevitable. It is our hard earned money after all. Even if we saved up for trading and entered the market with a mindset that we’re ready to lose it, we still feel bad on losing.
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