For retail traders spot forex is in fact a negative sum game. A negative sum game is any game or activity where the sum of total gains and losses is negative i.e below zero. The reason why spot Forex can be considered a negative sum game is that traders incur substantial costs when trading the currency markets. Brokerages charge a marked up spread or commissions to traders, these mark-ups and commissions are used by the brokerages to cover their costs and to earn a profit. This means that the sum of gains and losses is in fact negative making Forex a negative sum game.
9 Mindful quotes for Traders:
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I feel this way very frequently.
I dont read ooks, i learnt to miss trades or FOMO, at the beggining i was so anxious⌠I learn to control and now i can miss some or many ut i can few, with good pips!! Control your emotions
I can totally relate to this feeling and surely most of the fellow traders can too. But the best pthing is not to think about it a lot. What has been done is done and can not be changed, so there is no point of burdening oneself with the guilt. Instead, learn and move on.
The biggest trouble that I faced when I started trading was lack of knowledge on everything, be it, strategy, how the markets work, how to analyse the trading conditions. But surely, it is an evergoing process and it all comes ahead with experience. Try, not loosing your heart in the begining as it is the touhest.
I have to trade with patience. Never get good rewards from trading if you are busy trading. Trade should not be entered at the end of a movement.
I miss on lot of good trades very often and I donât feel guilty at all.
There are 5 possibilities while trading:
a. big profit b. big loss c. small profit d. small loss. e. break even.
As long as you are avoiding the second, you are a good trader.
Put stop-loss. Thatâll help you avoid overtrading.
I believe, all of us have been through it. But you shouldnt feel guilty about it. Mistakes are bound to happen and that is how youâll learn. Try making use of a trading plan that should be helpful.
There is nothing to feel guilty about. Trading is a risky business. You make losses more than you make profits and thatâs how it goes. It is up to you how well you understand the market and how well you can take advantage of the moving market. Try to stick to your plan so that you donât miss any trade the next time you go live.