No need to give up. You have to stop trading on a trade by trade basis, your edges dont tell you what will happen in the next trade but rather what will happen in the next series of trades my friend. Just listen to ātrading like a professional traderā by Mark Douglas from youtube. Thank me later.
I trade for almost one year, but I got the chance to fell into depression already. Los 15k$, losing the home and get back to trading from little, all these thanks to my wife, she supported me that I can do everything, home is where the family is but not the house you live in. So this business can make you weak, but by the time youāll become a terminator
No, Forex has not, and never will, change my personality. I am what I am, flaws and all. What Forex has taught me, is to treat it like a business, not a hobby or get rich quick scheme.
it is my luck in life that Iām still alive and kicking, which tends to let me trade Forex with a freedom of being a contrarian in most of my thoughts about market workings. Iāve devised a profitable strategy that works for me with minimum attention to what could concern others.
For example, I mostly ignore the technical analysis of price movement apart from deciding to take a trade because I like the chart picture. Once in a trade, price can only move five different ways - which is critical for any intraday trader.
Iāll write a blog about this as itās the greatest insight Iāve learnt in risk and money management. And Iāve only seen one pro trader who has talked about this concept on YouTube.
It is quite natural to feel that. I have been trading for quite a while now and I still face anxious and nervous when my trades go south. The best thing to do is to close your negative trades to minimise the losses.
Honestly the biggest change that trading has brought in my life is PATEINCE. Lol. As they say forex market is the mode of transfering funds from the impateint to the pateint trader, i think that happened with me in the beginning. I lost a lot of funds, made losses only because i used to panic, i was very impateint. With time i gained control over my emotions, practised staying calm and here i am today an experienced trader (3 years +) quiet pateint with my trades now.
Quite opposite in my case. Iāve become more patient as the first thing that I learned here was getting good at trading takes time. By time I mean years literally. So do not lose patience my friend. Itās a long journey.
If you are impatient then that means you are not following a good trading strategy. This usually happens when you have just started trading and yet to learn and explore trading.
From the time, I have started trading, I have become more patient and open to changes and market fluctuations. But, it was not a one day thing. It took me a while to gather that calm. But I am more active now, considering all the latest happenings in the world and specially towards market fluctuations.
You often make mistakes when you a beginner but with time you learn and experience a lot. That is what happened with me, when I just strated trading, I was not disciplined, used to get annoyed easily with bad trades, fickled-minded and impatient. Now, when I see myself after gaining enough of experience, I am more disciplined and chilled.