Hey everyone, as a beginner Is it better to do few trades but successful or multiple trades but not successful even though it gives me more experience ?
Thank you !
I would go with the former option,
Make fewer successful trades. If it takes longer to gain experience this way so be it but you will have profit at the end too.
The latter option sounds like you want to learn what not to do fast, at the expense of making successful trades. It kind of sounds self defeating if you have the first option available.
Patience is very important when trading. Less can be more and more can mean less.
Good luck.
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Experience of bad TA or emotional trade-placing is not helpful.
Concentrate on being good, and doing better what you do well.
Picture this - You carry out a series of tasks and 80% of your effort leads to reward. But you’d like to suffer less wasted time. So you take a week off to study what you are doing wrong - the 20% of wasted effort. And through a tough week you identify that you can make a 10% improvement. So now you are 82% productive. Well done.
But what if you had taken a week to investigate what you were doing right? If you make a 10% improvement there you will be 88% productive. Your efforts to improve what you did well were 4 times more effective than studying what you did wrong.
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Alright, thank you for this helpful answer !
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I see so the first option would be better, if I study more on my trading steps. Thank you for your opinion given, may I ask you the acronym of TA please ?
TA is technical analysis, the study of price charts for the purpose of identifying probable future price action.
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Forex is about probabilities and risk. It is also something that requires patience which so many lack. So fewer trades with solid set ups than a scatter gun approach for sure
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Making a few successful trades is preferable to many trades where most are unsuccessful, not just for beginners but even for experienced traders too.
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Option first is for me, making some or few successful trades are better then many those trades which are not so successful. Forex is a risky business and you can always made successful trades, but you can try to be more successful.
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I think it’s better to do a few trades that are successful. If you go fast and put multiple trades then at the end you will be left with unsuccessful trades.
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to be a successful trader is not a minor issue , need a long time approach with great level of patience.
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Thank you for the support