Trading requires an intelligent mindset first. Combining Mindset with Strategy is to increase profit potential.
Almost all successful traders were like this, dont guve up
You could try keeping a trading journal to help you go back and analyze your decisions. This might help you figure out what’s stopping you from gaining.
Constantly practicing to get better. It takes time but it is worth it.
Making money through forex trading is not a day’s hard work. You have to be patient and trade regularly to gain experience. Your experience helps you learn better and improve your skills over time.
Polish your trading skills as much as possible. Keep learning and earning!
Becoming a master trader isn’t easy but if you keep practising you’ll get close to making your financial dreams a reality. Provided that you are practicing, try to minimise your losses more than trying to make money.
If you are good at analyzing the markets, thoroughly researching all the information relevant to the securities you trade you will automatically be good at trading. Pro traders perfect themselves by understanding and identifying trends and utilizing market information properly.
Practice, Patience and Knowledge.
That is the gist of it really. You need a lot of practice, the patience to conduct it and the knowledge that comes with it. There are no shortcuts.
You have to practice to develop knowledge. And shortcuts are detrimental to trading.
This might be because you are using a strategy that you shouldn’t. Try making some changes to your strategy and try again. If you have been maintaining a trading journal, do check that too to check what could have been wrong on your part and avoid doing that again. Avoid scalping for some time and adopt swing trading. It might give you some time to think and improve.
Just Google (Naked Trading PDF) The PDF is Free
Unpredictability is what every trader has to deal with. But it gets way better if you are very familiar all the factors you need to consider before placing a trade.
Kindly review your fx notes once again. Stopping is not an option for now. Good luck.
Like others have suggested a higher timeframe and just get in on longer trades. So more profit from less trades
Works 99% of you effort on stoploss
[quote=“Johnscott31, post:95, topic:342544”]
rarely hear about getting good by studying the greats - the Tu
[/quote]greats I’m surprised you not calling them geniuses
But it also needs higher lot size then.
According to me, consistent practice and hardwork can make anyone good in forex trading.
Study WHY the trade was a loss.
Hypothecate and reason: The BEST questions lead to the best answers.
I ask myself, did I close trade too early? Did I not allow my idea to get its full chance when I did not let it hit stop loss? Did I make a mistake on the direction? Was I too early or too late? Did I use the wrong indicators or did I not use or listen to what it was telling me to do?
So many questions but know this… the more you lose the more you will learn. This is why I almost LOVE losses because then I will learn MORE.
A loss it not a time to be sad. It is a time to celebrate the fact that you will improve because of the loss.
Negativity has not place in trading, not at all.
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