Hi everyone. I’m new to forex but have some understanding of technical analysis. Hope we can learn together and become successful in trading forex.
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First and foremost, learn how to control your emotions. Many newbies cannot, that’s why they fail. and that’s the hardest lesson you’ll ever learn.
How? One (extreme) way is to open a live account and blow it by making mistakes. The hardest emotion to control is FEAR of MISSING out (FOMO). Losing trades are endured until the market proves you wrong. Profits are taken early instead of letting them run.
Traders gamble, overtrade, and revenge trade. So forget about technical analysis for now - that won’t help you if you cannot control risk and HOW NOT TO LOSE MONEY.
Welcome!. This is great place to discuss, share and learn from others. See you around and good luck!
Hey, welcome to the forum. Good luck on your journey.