Why you should not give up forex trading?
- Thread starter Rambo35
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One should not be discouraged on losing small sum in Forex. The best way is to first back test the strategy and then trade based on the rules.
If you want to make money in this business, the most important aspect is patience and knowledge, which are the key tools of good profit from Forex.
I think if any trader they already finding profitable system and strategy hence with discipline and patience will increasing money with low drawdown, and to finding profitable system also need practice with trial error, like as some trader that prefer use ea usually also will backtesting ea performance before used on real account
Yeah, always keep learning. If you are failing then also take a break and then start again from begin. Forex is a risky business which can not win by anyone easily.
Few traders still dont find any strategy which can help them to earn profit or recover their losses. Because they are not using mind to create one strategy which can works only for them.
I think that's why we must understand that Forex business is not getting rich quickly business. Stick to your own system and don't break your own rules. I to sometime break my own rules and that's the time when disaster came hihi...
You should treat all the losses as important lessons, as experience that could be useful in the future.
This approach isn't easy, you have to be ready for losses psychologically. But if you do it, trading will become a logical thing, not something that you'd wish to quit every time you lose money.
This approach isn't easy, you have to be ready for losses psychologically. But if you do it, trading will become a logical thing, not something that you'd wish to quit every time you lose money.
It is important that a trader should develop his own strategy and set of rules with proper plan. Also follow your plan strictly so that the chances of loss can be minimize and you can get perfect trading style which can earn you more.
Really, sometimes I'm so angry about the losses that want to quit immediately, and then understand that I was the cause of losing money as I made mistakes. Don't know when the moment of full control will come. I try to cape with strong emotions every time they appear. Hope it's just the matter of habit.
I see that this forex business is a business that really give you an advantage and have a huge opportunity, it's why I try not to give in to this business. for that, I need to learn a lot and practice well in this business by utilizing a demo account or demo contest
Forex gives opportunity to every one. It depends on person how it start working with Forex. Not every person is same as other one, few are sharp mind who learn well and some have to learn slowly.
I think that phrase about mistakes and lessons should be the main motivation in every sphere of life. It's always a chance to learn something from ANY losses. Even if we talk not about money.
Sometimes I become angry due to losses too, but then I remember that I trade for 4 months only and start searching for mistakes...
trading is all about losing and earning. giving up is not an alternative. instead you should learn from loss experiences to avoid such things in future. that ll make a sense indeed.
Giving up forex trading after a couple of losses is not ideal. You should have been hearing of very successful traders. Did you think they gathered all their experience at once without suffering some losses? Just be patient and perfect your trading strategy.
Many new traders looses money in the start however they should let go off these losses in order to become successful in future. So we need to keep practicing demo accounts, be patience and learn how to make money through trading as forex may be easier but earning money through it is bit tough.
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