To be successful in trading, you need to understand yourself and what motivates your actions fully. If you know what you want to achieve through trading, then you will find it much easier to stick with your goals and reach them.
Going slow but steady is the kind of effort everyone should put in for mental success in trading. Personally, whenever I set small goals and work for them, I automatically stay motivated. However, trying to take everything at once can be really overwhelming.
I think that a trader shouldn’t give up. He should be persistent with his goals, but at the same time he shouldn’t be obstinate when he’s definitely doing wrong. Secondly, he should never stop learning because trading is the thing you need to learn all the time. You need to timely recognize your mistakes, learn from them and go ahead. You need to control your emotions. That’s probably the most difficult thing to do but you have no choice but to take over yourself, otherwise you will not succeed in trading.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.