New and undisciplined traders

New and undisciplined traders always search for an entry. They sit before the chart all day long. Even there are some traders who can not sleep properly at night. It is very bad. Fix one or two trading sessions and search entry in those sessions in higher time frames.

Forex trading is not so difficult. If you have proper knowledge about the basics of forex you can easily make money from this market. If you don't have proper knowledge, you can learn all the basics of forex from a demo account.

not always the new traders are undisciplined. there are few who start with few options but no doubt there are alot who wants to get rich overnight

perryjohn765 posted:
not always the new traders are undisciplined. there are few who start with few options but no doubt there are alot who wants to get rich overnight

There is no quickly get rich scheme in trading. Only those who work hard can be successful.

Discipline is just as important in our lives as it is in our trading. If a trader does not work to maintain discipline, he will never be able to trade successfully.

UweMoench posted:
New and undisciplined traders always search for an entry. They sit before the chart all day long. Even there are some traders who can not sleep properly at night. It is very bad. Fix one or two trading sessions and search entry in those sessions in higher time frames.

Correctly explained. A trader needs to fix its trading strategy and time, unless, you are scalping you dont need to sit in front of your screen throughout.

You'd think it doesn't happen to traders with experience.
It's just that some move forward from day one, and some don't want to analyze their own work.

LeviSievwright5 posted:
Discipline is just as important in our lives as it is in our trading. If a trader does not work to maintain discipline, he will never be able to trade successfully.

To maintain consistent profit, traders need discipline and patience.

UweMoench posted:
New and undisciplined traders always search for an entry. They sit before the chart all day long. Even there are some traders who can not sleep properly at night. It is very bad. Fix one or two trading sessions and search entry in those sessions in higher time frames.

Completely agree. Set your time and your criteria and have the discipline to walk away when the time is up or your criteria is not met

Higher time frames and focusing on exits rather than entries. That is where the money is

Newcomers usually can't control their emotions. That is why they cannot trade by maintaining discipline.

New comers are mostly impatient, they should realise that success in trading requires patience and consistent practice.

Beginners often come without any proper knowledge and consider Forex an easy way to make quick money, but little did they know that patience and knowledge are what makes trading much more effective.

Even many old traders are undisciplined. This is one of the major reasons many people are losing money for a long period of time. They take a break and again invest money and again lose it.

Absolutely right! New traders always remain in a hurry in making profits rather than focusing on learning. Getting green signals and making profits on forex demo accounts doesn’t mean that you are now pro, even experienced traders always try to explore new techniques to manage their risks. Focus on learning with skills. Rest experience will help you in the long run.

If you do not maintain discipline while trading, you will never be satisfied with trading profit. So first you have to maintain discipline.

blackChelsea posted:
Absolutely right! New traders always remain in a hurry in making profits rather than focusing on learning. Getting green signals and making profits on forex demo accounts doesn’t mean that you are now pro, even experienced traders always try to explore new techniques to manage their risks. Focus on learning with skills. Rest experience will help you in the long run.

I agree, however, it's not easy to keep trading with a demo for a lot of time without checking a real account. I think a loss with real money is inevitable and is part of the learning process. You cannot get the same experience emotionally with a demo account. I think it's even better to test with a real account only use a cent/nano account to represent a large account with the same feeling as trading a real account only with minimal (real) losses incase you go bust.

Any business, any job requires experience and time. And there is no need to rush things and expect everything to work out quickly and easily.

If there is no discipline in trading, the amount of loss is always high. Discipline must be maintained if a consistent profit is to be made. How do I control money management, how do I control risk, and increase the ratio of profitability? These must be maintained.