New and undisciplined traders

Akasuki posted:
@AliaDare Yes you are right. To be successful in forex trading, discipline is very important. Discipline tells us when to trade and when to sit in the side bench. Every trader should work on their discipline.

Thank you very much. To support me. Maintaining discipline is very important for successful trading.

Risk management

AliaDare posted:

Akasuki posted:
@AliaDare Yes you are right. To be successful in forex trading, discipline is very important. Discipline tells us when to trade and when to sit in the side bench. Every trader should work on their discipline.

Thank you very much. To support me. Maintaining discipline is very important for successful trading.

Discipline is the most important thing in the forex market.

a trader can trade anytime he want during the weekend but one has to set his own time and strategy

Better to trade with those forex brokers who are regulated by good regulatory body. Trading with regulated forex broker brings some amount of peace in mind regarding safety of funds.

WaltonCharles posted:
Every new trader should choose a regulated broker from this market.

That's right. Regulated brokers ensure safety of funds as compared to unregulated ones.

New traders should never ignore the following characteristics:

Patience - Don’t risk jumping into forex trading too early.
Persistence - Learning how to trade forex takes a lot of time.
Detached attitude - You cannot let emotions run your trades.
A hunger to learn - As a forex beginner, you should be more interested in learning than making money.
Know your limits - You need to know when to stop trading and take a break.

Alexthetrader posted:
New traders should never ignore the following characteristics:

Patience - Don’t risk jumping into forex trading too early.
Persistence - Learning how to trade forex takes a lot of time.
Detached attitude - You cannot let emotions run your trades.
A hunger to learn - As a forex beginner, you should be more interested in learning than making money.
Know your limits - You need to know when to stop trading and take a break.

That's very important factors which you have talked about. A trader should also maintain a trading journal in order to get to know how well his trading is going.

Number one biggest mistake new trade commits is they treat forex trading as a money machine. Open trade and make profit. They think it is the easiest job in the world. But in reality you need profound understanding of the market. My advice to new trader is gain necessary knowledge and skills.

Beginners and those who have given little time to their discipline very often make mistakes that have a detrimental effect on income.

not all are undisciplined. there are few who are wiling to take risks to learn.

Ariest posted:
Beginners and those who have given little time to their discipline very often make mistakes that have a detrimental effect on income.

Yes. Discipline makes a trader successful in this market.