The main reason for traders to fail is that they make a psychological mistake.
Aug 01, 2023 at 04:31
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4 Replies
會員從Jul 05, 2023開始
4帖子
Aug 01, 2023 at 04:31
Many people believe that traders fail because they don’t have a good strategy, because they are not skilled, because Forex Trading is a scam and Brokers are there to take your money and run.
I have been trading Forex since 2016. Trust me if I tell you that the main reason for traders to fail is that they make a psychological mistake sooner or later.
1: They have a bad day and they decide to open more trades to recover the losses.
2: They made a mistake, they feel stupid and they decide to increase the size to recover the loss of that stupid mistake.
3: They are in a good winning streak and decide to increase the size because it’s a good period.
4: They think that they can sustain a bigger drawdown so they decide to increase the risk.
5: They say “one last time with this risk, then I will stick to the plan.
6: They think “it can’t always go down”.
I can really write more than 100 reasons, but I think I made my point. Forex Trading is difficult, but your mind is the biggest problem. If you can build the necessary discipline, you are on a golden path to become a successful trader.
I have been trading Forex since 2016. Trust me if I tell you that the main reason for traders to fail is that they make a psychological mistake sooner or later.
1: They have a bad day and they decide to open more trades to recover the losses.
2: They made a mistake, they feel stupid and they decide to increase the size to recover the loss of that stupid mistake.
3: They are in a good winning streak and decide to increase the size because it’s a good period.
4: They think that they can sustain a bigger drawdown so they decide to increase the risk.
5: They say “one last time with this risk, then I will stick to the plan.
6: They think “it can’t always go down”.
I can really write more than 100 reasons, but I think I made my point. Forex Trading is difficult, but your mind is the biggest problem. If you can build the necessary discipline, you are on a golden path to become a successful trader.
會員從Apr 26, 2023開始
25帖子
Aug 14, 2023 at 12:59
Absolutely, you've hit the nail on the head. While having a solid trading strategy, skills, and understanding the market are crucial, the psychological aspect is often the make or break factor in forex trading. Your observations align with what many experienced traders have come to realize over the years.
會員從Jul 19, 2023開始
9帖子
Aug 24, 2023 at 20:39
Oh, for sure, the mental game is a huge deal in trading. It's easy to get carried away with emotions like FOMO or panic when things get shaky. The trick is to keep your cool and stick to your strategy, no matter the market vibes. Discipline is the name of the game if you wanna stay in it for the long haul.
會員從Mar 03, 2023開始
15帖子
Oct 20, 2023 at 04:49
wolfinception posted:That's insightful, thank you for sharing your valuable knowledge 😄
Oh, for sure, the mental game is a huge deal in trading. It's easy to get carried away with emotions like FOMO or panic when things get shaky. The trick is to keep your cool and stick to your strategy, no matter the market vibes. Discipline is the name of the game if you wanna stay in it for the long haul.
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