I agree that passion is a good driver but more as an initial starter. This is why it is important to have discipline and good habits in place as they get your through when the passion on enthusiasm wanes.
If you can't spot the liquidity then you are the liquidity.
Jul 11 2022 at 11:47
sebking1986 posted:
I agree that passion is a good driver but more as an initial starter. This is why it is important to have discipline and good habits in place as they get your through when the passion on enthusiasm wanes.
Discipline for me is the biggest factor. It's the one that can help you follow a trading plan and money management
100%. I found reading Atomic Habits by James Clear really useful in understanding the benefit of small changes and habits in helping to create discipline and to keep moving forward
If you can't spot the liquidity then you are the liquidity.
I learned to be patient and wait for the market to come to me
Jul 15 2022 at 04:16
5 things that I learned from my experience in the forex market are
1. Take your time to learn and do not rush.
2. Risk management is the real strategy.
3. You can never beat the forex market so just respect the trend.
4. Trading psychology is a concept that every forex trader should learn about.
5. Patience is essential to survive in the forex market.
1. Take your time to learn and do not rush.
2. Risk management is the real strategy.
3. You can never beat the forex market so just respect the trend.
4. Trading psychology is a concept that every forex trader should learn about.
5. Patience is essential to survive in the forex market.
No business is out of risk, so does Forex. It is one of the riskiest market is not true fully because the risk of Forex trading depends highly on how much leverage you take in your trades.
Thank you for sharing your knowledge and experience with us. We always learn many things from experience in the forex market. This experience gives us an edge over others in the long run. One thing that I learned as a trader is that skills matter more than strategy. Yes, we do need a strategy to work with but it being successful depends on our skills and knowledge only.
Jul 17 2022 at 15:22
Gasbag posted:
Thank you for sharing your knowledge and experience with us. We always learn many things from experience in the forex market. This experience gives us an edge over others in the long run. One thing that I learned as a trader is that skills matter more than strategy. Yes, we do need a strategy to work with but it being successful depends on our skills and knowledge only.
It does for sure but its also persistence you need to believe in yourself and the process even when things are not going well and that uncertainty is tough when you're in it
Forex trading is not just a process of making money, but you learn several things along the way. I have learned the importance of being patient, believing in myself and my trading, and controlling emotions.
Notandum posted:
Forex trading is not just a process of making money, but you learn several things along the way. I have learned the importance of being patient, believing in myself and my trading, and controlling emotions.
learning and earning go together. You cannot earn without learning. If you focus on learning then the earning will come naturally
3 years of my trading career has taught me the most important things:
1. Never trust online guru’s
2. Don’t invest all your money
3. Be patient
1. Never trust online guru’s
2. Don’t invest all your money
3. Be patient
Jul 21 2022 at 11:22
The start you make is essential but what you go through in your trading journey matters even more. Where the profits fill you with confidence, losses may drain you. Learn to find a balance because both the results will keep coming in. Expectations are okay but no need to make them your sole goals.
Here’s what I have learned -
1. Using a stop loss is important, but you shouldn’t set it too close. Because the volatility of the market tends the price chart to frequently go up-and-down. Setting the stop loss too close to the entry point will exit your trading too soon.
2. Maintaining a trading journal is helpful in a lot of ways like keeping a track of your profits and loss, keeping a record of important decisions, and other things.
3. Setting unrealistic goals is only going to harm your mentality and mindset. Set achievable goals and targets.
4. Demo trading is really necessary to get a grip of the market before starting live trading.
1. Using a stop loss is important, but you shouldn’t set it too close. Because the volatility of the market tends the price chart to frequently go up-and-down. Setting the stop loss too close to the entry point will exit your trading too soon.
2. Maintaining a trading journal is helpful in a lot of ways like keeping a track of your profits and loss, keeping a record of important decisions, and other things.
3. Setting unrealistic goals is only going to harm your mentality and mindset. Set achievable goals and targets.
4. Demo trading is really necessary to get a grip of the market before starting live trading.
Thank you! Very informative post!
I will also share my 5 commandments:
1. Always use a trading plan
2. Treat trading like a business
3. Become a student of the markets
4. Only risk what you can afford to lose
5. Know when to stop trading
I will also share my 5 commandments:
1. Always use a trading plan
2. Treat trading like a business
3. Become a student of the markets
4. Only risk what you can afford to lose
5. Know when to stop trading
Forex trading has taught me patience and stability. It’s not just about what you do but also about how you behave. You must stay open to everything that comes as a result because if you fail at accepting your results, you fail at trading.
Ricochet posted:Yes. So true. That's a good lesson.
Forex trading has taught me patience and stability. It’s not just about what you do but also about how you behave. You must stay open to everything that comes as a result because if you fail at accepting your results, you fail at trading.
Jul 31 2022 at 14:49
Ricochet posted:
Forex trading has taught me patience and stability. It’s not just about what you do but also about how you behave. You must stay open to everything that comes as a result because if you fail at accepting your results, you fail at trading.
Really true you have to be able to face the truth and your trading performance if you bury your head in the sand its a recipe for disaster
100% trading brutally exposes your flaws and failure to be humble in the face of that and learn results in losses. Not only in trading but in other facets of life.
If you can't spot the liquidity then you are the liquidity.
Aug 07 2022 at 15:51
sebking1986 posted:
100% trading brutally exposes your flaws and failure to be humble in the face of that and learn results in losses. Not only in trading but in other facets of life.
Really does reveal everyone's risk appetites and limits. It's a personal journey that if followed through is literally life changing in many aspects
I think it was Anton Kreil that said that in most cases if you find a successful trader you will find a person that is successful in many other aspects of life as well.
If you can't spot the liquidity then you are the liquidity.
