I read many newbies’ introduction and want to tell you one thing.
Everyone who starts forex/stocks trading journey suffers loss and experiences failures.
I think this is very good to new traders.
There are 3 reasons.
- After experiencing each losses, you will find the problem of your trading plan. Indicators, false signals, poor risk management rules and so on. So failures provide great opportunity for improving your trading strategy.
- When you experience failures, especially when you deviated from your trading plan, you got to know that following plan is the only way to be successful in the long run. So please fail until you really recognize the importance of your trading plan. When I started my trading journey first, I also knew trading plan and sticking to it is very important, but it took me years to have the strict habit of following my rules. So my tip is FAIL UNTIL YOU BECOME TO KNOW THE IMPROTANCE OF YOUR PLAN.
- When you fail, you will get to know the personal limitations of yourself and its influence to your trading account. Then you will try to overcome it.
So why we worry fail? We should like it. And learn from it. By doing so, you will eventually make progress in your trading.
Never fear losses, face it, and learn from it.
Fail until you find all your problems and you stick to productive rules and habits.