How do you keep from getting discouraged? I have been reading the school here, plus info everywhere else on the web, looking into ebooks, and mentors; and I am overwhelmed. Aside from making money, what do you do to keep from getting too discouraged and wanting to quit? I am beginning to think that maybe this is just not my forte.
Don’t put so much pressure on yourself, you will get it. Just take your time and learn at your own pace. Unless the bank is foreclosing tomorrow, you have plenty of time. I think if you try to learn too much too fast you will end up burning yourself out! Good Luck, don’t give up on it.
I agree with shiny, don’t put yourself through all that. Just slow down, read a little here and there. Go at the pace you are comfortable!
I would recommend that you would watch the market for few hours a day, with a half hour chart, especially at the beginning and ending of the 3 major sessions.
Learn to master the trade before you get discouraged…
And don’t lose hope because it is only in the experience that you
gain a lot of courage and wisdom…
That is right. Confidence has to be built up slowly.
When you understand it, you practice. There are many online practice softwares for trading available in the net for everybody’s use. When you are
able to practice and find yourself on the winning edge, then you will be confident that you would want to start investing. Never spend what you can’t afford to lose.
I am a newbie to this forum and to trading and I really find trading so hard also and I agree with ibpippin, I was almost discouraged but with all your advices, it makes me think, maybe I can do it afterall.
Sometimes you have to put the book down and just jump in. And this is with a demo account, of course. Once you’ve got the basics, why not try a couple trades using a demo account. There’s nothing real to lose, and everything to gain (experience)!
That is what I am doing now, philantropip. I am trying demo accounts, hoping to learn more but will venture with investments later when I am confident. There are many free demo accounts on the net.
Could you perhaps list a few that you’ve used and your review of them?
I like to know first hand experiences before use something.
Me too, it it’s at all possible. I hate going through hundreds of scam sites and once in a while finding a good site. I’d rather if someone gave me a list of legitimate sites they’ve used.
I personally would also like to know of some definate sites to avoid.
I lost alot of money when I got started and yes discourage. I believe every trader has to go through this experience. It just makes us better traders. When I lost money, I think of it as though I have temporarily give away that money to the dealer because I am going to get it back but I am not in a hurry to enter the market again and most likely make another mistake when that happen. I am still learning this market. The one thing that helped me most is to focus just on 1 currency and get to know that currency price behavior. I have 3 monitors on my trading station and used to display the 8 major currencies that I was looking for opportunity to trade then I got confused. So now I just focused on the 1 currency that I feel comfortable in trading.