What has been your biggest lesson as a Forex trader?

[Resolve]

Not to use many indicators while making a decision - my lesson!

We need to make sure that the Indicator t hat is being used by us is reliable and can help us in getting the profits from our trades.

 

[ForexandGirlsIlike]

Indicators are not really helpful.

 

[Viceroy]

Indicators are not really helpful.

Or "not helpful at all"! 🙂)

 

[Petrick Liman]

Indicators are not really helpful.

Yes, that's what i meant

 

[ForexandGirlsIlike]

Or "not helpful at all"! 🙂)

true

 

[e_abrams]

Personally I find the indicators I use (Bollinger Bands and Moving Average) quite helpful for the purposes I use them for.

 

[forexking]

My biggest lesson is never to trade without using stop loss.

 

[e_abrams]

Was there a particular incident that taught you that lesson? In my case it was the unpegging of the CHF from the EUR. That was "fun.". 😀

 

[e_abrams]

One either learns that lesson or they continue losing money, unfortunately.

 

[reecerispoli1]

Mine has been that when Forex Trading is approached as an investment, it gives better consistent profits. I refer to it as the power of compounding.

To be patient

 

[HeavenLeighGill]

Mine was to stop chasing the money and focus more on myself as a trader by practicing things like discipline and growing my knowledge by reading books and articles, doing research online, etc. I'd say that this was quite helpful to me.

 

[Bella.a]

The first significant awakening of my Forex career ( not so long ago ) . when i first discovered the power of Floor Pivots. I was trading solely off combination of moving average and indicator based systems. I wanted to change instantly to be a Pivot Trader due to it's leading price action nature in the market .

-Bella

 

[sharabela]

Forex market does give us an opportunity to make good amount of money. It is possible only when we deal with the market accordingly. It may sound easy but it never is. Traders have to learn and be extremely disciplined to be able to make consistent profit by trading.

 

[reecerispoli1]

has to be Less is more to be honest

 

[Fried_Rice]

Plan your trade and trade your plan. Always have a plan.

 

[Resolve]

Plan your trade and trade your plan. Always have a plan.

When we are doing our trades according to the plan then the income we can get will also get increased.

 

[Trends555]

Don't get greedy

 

[e_abrams]

My biggest lesson? Don't trade the news unless you are absolutely sure how the market will react. And even then, don't trade the news. 😀

 

[JoshEvansFX]

Mine has been that when Forex Trading is approached as an investment, it gives better consistent profits. I refer to it as the power of compounding.

Risking more than I can afford to lose

 

[e_abrams]

I never do that. For me, based on my past experiences, that's a recipe for disaster.