Having realistic expectations is the greatest method to overcome trade psychology barriers. This entails accepting that markets are volatile and that there is no assurance of success. You may overcome any trade psychology hurdle and achieve your trading goals by focusing on the facts and maintaining a positive mindset.
Both are not good; a balance of both must be maintained. Losses must be lesser than profits, but they must be there to learn something new. Overall, it is crucial to maintain both. We must be prepared for both profits and losses. With time, everything will get fine-tuned.
Usually profit streak makes a new trader greedy and he risks more and looses the whole money which he made from profit streak.
Loss streak can make the trader believe that the strategy has failed and will not make any profit in future. So usually a trader throws away the strategy and searches for another strategy and usually this cycle continues for long time for few traders until and unless they realize that every strategy can have profit streak and loss streak as well.
So it is important to make proper trading decision during entry and exit of the forex market during profit streak or loss streak.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.