Why you should not give up forex trading?
- Thread starter Rambo35
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Because it is more independent that other business. It has huge opportunity to earn money. It is smoothable. It is well reputedn business in the whole world. . Here one can earn unlimited
I'd be prudent for a trader to find out early enough why he isn't making after a year or two with the goal of proffering solution to it not to quit. Quitters never win.
Few people are never made for Forex as they dont understand the market and can not manage emotions. So it is better to give up rather then wasting time and money both here.
I agree with you. Emotional trading can be lethal and it takes tremendous discipline to trade forex successfully. If you can do these, then forex is not for you.
Isn't it better to work out why you haven't been successful? If you continually fail doing the same thing over and over I'd suggest there's something wrong with the process or strategy, rather than you being destined to fail.
We should not give up forex until getting success from Forex. Here we need to learn well before starting trading. If we apply our knowledge in forex, then we must get profit from it. So we need to keep try on forex and make profit from here
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AntjeWagner
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never give up I would not say. if you lost a lot and suffered too much and if your personal life (and money) is in danger than I would always recommend to not trade anymore. I had a client, where I told him already before funding the account that he shall not start. I instantly refused his funds. why? because his salery was very low (poor country), he had a dream that's why he wanted to trade. I hate those false dream-making people!!
that person had a small salery as I said and he had 4 children. he could barely pay his life
sure it could have worked out for him but since he had no knowledge in trading, I doubted that he would make constant profits. He understood my point and was thankful but I am not sure if he is trading somewhere else now.
that person had a small salery as I said and he had 4 children. he could barely pay his life
sure it could have worked out for him but since he had no knowledge in trading, I doubted that he would make constant profits. He understood my point and was thankful but I am not sure if he is trading somewhere else now.You should give up if you don't like it, but if it's your passion or hobby, don't never give up. The life gave us many examples of successful people, they fail many times before getting succeed.
Losing every time in market, show that you are doing something wrong or working with wrong strategy. Either you leave the strategy that is facing issue or leave the work because that way you can save something from being lost.
Quitting is the easiest way to get out of the situation. Profits & losses are part of trading. Even the most experienced traders have suffered huge losses one or the other time. But these losses help you to achieve your goals with more realistic approach. Rather than getting affected by these losses you can always consider them as the fee for learning the concepts while trading. As said there is always a room to improve.
Forex market is a very risky market. No one knows what will happen next. Most new traders will blow up the first account or two before they either quit the game, or start to take things more seriously. But if you have patient and experience one day you will gain the market. Because we know that no risk no gain. So we have to take the risk to gain more profit.
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AntjeWagner
Guest
yes, failing once is also somehow useful to learn the own emotional strength and reaction on things.
I'd rather say that failing for several times in a row is even more useful to learn how to control emotions
Success is not an elevator that will take you up straight. At least true for forex trading. Success will come after constant effort and perseverance. Success is not story of a day rather its a journey here. Winners never quit.
Well said, success is a journey, and if you want to be part of this journey then you need to learn the basic to advance so that you can avoid your mistakes as many times as you trade, there is no short way to be rich, we have to struggle with our work for success.
Forex trading is a lucrative market and that is the reason many traders dreams of earning money through this business but some of them unfortunately can't make their ways but i have also noticed that they can still earn money through investing in Pamm accounts. Still these pamm are also as riskier as trading forex.
I agree with you Inggo, trading is not that easy. There are times that you will lose, but all you have to do is to keep moving forward and as the time goes by you'll be surprise that one day that you'd know how to handle trading without any hassle.
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