Used to browse this site many years ago, stopped trading when first had kids but always still peeked at the markets. Decided to get back into some daily trades so reactivated a demo and funded account, got logged back into the forums I used to follow and decided to actually take some courses from the beginning. Starting small - maybe 10-25k positions and looking for 50 pips a day. Putting together my goals and guidelines now. Used to have some really great success and then dump it all on one really stupid trade. Rinse and Repeat over and over. Hoping to avoid that this time around lol
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Every trader should give up greed. It is never possible to make a trading profit if you are greedy. Many traders trade in the hope of gaining more. These traders can never succeed.
In trading greed is a symptom of fear. Recognise your fears and resolve these or at the very least tame them so they can’t hurt you.
Don’t try to solve your greed, it isn’t the problem.
There are three top ‘holy grail’ secrets that will put you on the correct path to success.
- Emotional control. This is essential - for you to experience and find ways to resolve - and why 90% of traders fail to make the grade.
2 Being Disciplined and Patient are emotional control necessities. Other critical features are managing Fear and Pain. Which is why even seasoned traders find it difficult to resolve.
- Risk and money management control, which are equally essential.
You can now see why Forex trading is so difficult to become successful. It takes TIME - many months of hard disciplined work if you’re a quick learner to maybe become a break-even trader, the first step to being consistently profitable.
I hope that helps. Take it easy, one step at a time.
Isn’t it how the trade works? Wins accompanied by few losses. Good thing is the never give up attitude. I suppose you can spend some time demo practicing and re-strategizing.