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Alexe

Alexe

Member Since 25 Oct 2017
Offline Last Active Feb 10 2018 07:43 AM
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#697271 Never take your retaliation on Forex

Posted by Alexe on 22 November 2017 - 01:49 AM

Successful Forex trading doesn’t consist of how much money you are making, or if you can beat your last record. It doesn’t  consist of how much you trade on the volume that you trade or your account balance. Forex trading is all about making the right trades, following a simple trading plan, sticking to the rules that you made earlier (in your trading strategy), Forex is all about discipline.

Do not forget, the more money you have in your account balance, the more likely you are to sabotage yourself and to lose everything, especially when you get upset on your not so good trades. It is absolutely normal to be wrong, but be careful that your ego might come in to play and emotions then take control. You will get angry and you will want to get your revenge on the Forex market. In most of the cases, revenge trading is not good and will end up even worse.

 

You must realize that the Forex market does not know you and does not care if you win or lose. But will not hesitate to take your money if you’re careless and inattentive in choosing your trades. You will then start looking for traders that offer unrealistic profits and will make foolish mistakes, just because you want to get your money back fast.

You will have very big expectations from your trades and will want them to be successful ones. Actually, you will be looking for the next astonishing transaction. Doing this you are actually preparing yourself for an even bigger loss that will come. You will not tolerate the idea. This can be very dangerous for a trader because it can lead to series of considerable losses. You will want to quit and stop trading.

The only way to avoid this, from happening, is to have a very well defined trading system in choosing the currency pair and the trades. A good capital management and risk management integrated into your trading system, that you must follow as your Forex bible, is very important. This way you will take it as a personal thing when you lose in a trade.


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