I agree but it is hard to have the mentality to leave trades moving in your direction and against, Definitely need to trade the way your psychology dictates
We need to prepare our-self mentally so that we are able to manage the trading in an easy way.
Always try to remain patient while you are trading on forex. Fear is the most devastating factor for a trader. The more you feed it, more profound it will become. Back test your plans and then execute. It will help definitely.
Practice is the only way that leads you to a successful forex trading career.
The School of Pipsology. That’s where you need to spend time currently.
Trading. You have to trade.
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completely agree nothing like going into battle for yourself
Probably you should opt out of scalping. Try day trading and maybe the strategies work better.
If you’ve been keeping a record of your trades, having a good look at it will help you.
Also, you might want to give another strategy a shot, scalping is not for everyone, needs an experienced eye.
Thank you for your revert. Noted.
I can’t stress enough on using stop loss. Using stop loss really cuts down your losses but I don’t fancy trailing stop at all. Do you use stop loss or trailing stop?
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I think with consistent practice, you will be good at forex trading.
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Practice and learning to not be attached to the outcome of each trade. If you dont you will move onto the next and let the probabilities take over
Make peace with your losses and it will come with practice, practice and practice!
Practice is the only key !
The market is always going to remain unpredictable, and trends will vary, and there are always going to be risks - but remember that as time goes by you should be gaining experience and insight, and so you should be doing better little by little. There are going to betimes when you do well and others when you suffer losses, so learn from such experiences and stick there.
Try to reduce the number of trades per week you make and shift your focus to long-term plays because they are likely to be more rewarding. Also the upside of this approach is that you save money on spreads and commissions as you enter and exit less frequently.
To my mind it only seems difficult but in fact when you dive into this activity you start to understand that there is nothing in the world that a human being isn’t able to do.
Mostly the main reason why lots of novices lose their deposits is rushing. Next reasons are incorrect purposes and inflated expctations from trading activity. Never treat like a simple way to earn big sums of money, well, it’s like that, but only in perspective and not right away. You have to learn a lot, practice a lot and never give up trading on demo. Busted your account? Then go register a new one on another platform and try everything once again. Think of various strategies.
If scalping does not work, try other types of trading. Intraday trading for example. There will be fewer trades, but the risks are also different.
Experience and practice.
When you make mistakes, make sure you learn from them