Strategy is very important but not everything. You also need discipline. A good trading psychology. You also need good Control over your emotions and Ability to stay away from trading when it is needed.
There can be no such thing as a Forex market in the virtual world. People are taking it as a gamble so they can't succeed in trading but if you think positively then you will understand that success will come one day if you trade with patience according to the plan.
Yes trading is the combination of strategy, discipline, mind set, emotion control, money management and risk management. We need all of these. With an average strategy and all other qualities a person can make regular profit.
The strategy is very important but if you can't manage your emotions and discipline then trading is not possible. Another important factor in money management and risk-reward trading. Excluding that part, it is never possible to survive in trading.
Your trading strategy has to play an important role when you are trading. But it is not the only thing that matters. You must also follow consistency, discipline, and be open to learning whenever you have a chance.
UweMoench posted: Strategy is very important but not everything. You also need discipline. A good trading psychology. You also need good Control over your emotions and Ability to stay away from trading when it is needed.
Yes, strategy is important in trading. It helps to manage your emotions and discipline. Don’t apply too many different strategies. Stick to one strategy to remain focused. Choose your strategy carefully and apply it on your demo account before going live.
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Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
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