Forex Trading – A Valuable Character Trait in Life But In Forex Trading It Won’t Make You Money!
The character trait we are referring to will make you lose and that’s why 95% of traders lose. It’s a fact that forex trading is simple yet few succeed and the reason is they don’t understand this key character trait. Here it is:
Forex traders are good at picking tops and bottoms but they continually get stopped out by volatility and this is because they cannotAccept Big Profits.
They want big profits but they can’t accept them.
Because they want to restrict risk so, they can place stops close to the price and get stopped out. They also get worried when they see volatility eat into their open equity and decide to close the trade.
What happens next?
The trade goes in the direction they thought and pile up profits and their not in.
It’s a fact that:
Most big trends in forex trading last for weeks, months or even years and they feature huge trends which last for weeks or months.
If you want to make money you need to accept that open equity will eat into profits and hold. Forget about the little extra profit you have from the trend rotating. Instead, focus on the big profits that the trend will take you to.
Forex trading is high risk / high reward and you need to have the courage to hold these trends – consider the points below for more understanding.
95% of traders lose money and that’s a lot of people who trvey’t accept they have to do some work do the basics and get the right forex education.
The first point to keep in mind is that no one else will make you rich.
You have to create a system you have confidence in and this will allow you to trade it with discipline for long term success through the bad times.
The forex market is as much about having the right mindset as a result of a good system.
You have to be able to trade your system through losing periods and keep losses small and have the courage to run your profits to there maximum potential.
This sounds simple but most traders can’t do it. กลุ่มลับ They either think they won’t face the emotions of trading or can’t take they get angry and frustrated.
Lets look at this in more detail.
Fact – Forex trading is not easy
This doesn’t mean you cant win – you can but you must get the right forex education, accept you are going to have to learn and keep your eyes on the longer term.
Lets look at the basics for success.
- Success comes from within
You are Responsible
No one else can make you rich, your on your own and that’s a fact. พากย์ไทย Most traders look for get rich quick schemes which are unrealistic but in forex trading there are no unrealistic gains.
- Get a Simple System for Trend Following
Simple systems work best and always have, as they are robust introduction straight into the framework of your forex trading strategy, will allow you to lock into the big trends.
This is where robust money management is so important.
- Trade Long Term Trends!
Many traders make the mistake of trading the noise of the market and trying to trade the random noise and make a lot of effort and end up losing. ขายตัว You need to trade the big trends that last for weeks and months, this means only trading and catching the big trends and it is totally different to the bulk of losing traders who day trade.
If you like the buzz of trading you will lose and don’t make the effort, instead, focus on the long term and ignore the short term. หนังผี You need to spend less effort and make more money to compensate for losing the short term random trading.
- You Don’t Need to Trade Much a Day to Make Huge Profits
Many traders make the mistake of thinking, the more they trade the more they make a profit; this is not true. You get a high odds trade then place your stop below the low of the range and that’s the only job you need to do.
If you trade 50 times or twice a year, you are going to make less effort and make more money and that’s the way to enjoy forex success.
- Getting the Mindset for Success
You need to accept you are responsible for your own destiny and you need to do this the right way and you need to execute your system with discipline; แตกคาปาก this means taking and keeping losses small ( which is the key to currency trading success) and running profits.
If you can’t execute a system with discipline you don’t have one! Have confidence in what you are doing and the mindset to stand alone and this is the only way to currency trading success