I personally believe that being emotionally stable can be the key to gain the right skills for trading. Sometimes the excitement of starting trading can become a barrier to learning.
After 14 years,i still cant follow these rules,my emotion still rolla coasting,but i dont care anymore
Admiration for your honesty,might be best to detach yourself from everything to do with trading for a few months.Come back maybe and give it one more go.
Successful traders are no different from anyone. But they walk an extra mile to be successful. They work hard extra, they learn all the necessary technical skills and they have made themselves more emotionally stable.
Every trader asks this question and only the very little amount of traders knows the answer. I guess it’s not simple to become a successful trader, because success implies years of practicing and learning. The more experience you have, the more you understand the market and how does the price choose its direction. Everything here depends on your personal objectives, durability and willings to reach success.
I always think that the main is to have strong goals and desire. However, you also must learn a lot, practice a lot and every day should be full with new knowledge about trading. Only by these steps you can reach success. Rememebr that you shouldn’t give up.
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I personally believe that everyone is capable of learning, doing hard work or learning the technical part, but the most important which many traders lack is emotional balance. It is very important that you trade with a calm mind and do not get panicked or anxious.
Agreed!
If you are able to handle your emotions smartly, you will definitely excel in the forex world.
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I am still on demo. So I haven’t faced this emotional factor on demo trading yet. Just wanted to know if going live is the only way out to understand about emotional management?
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Handling emotions and using them to your advantage is the goal. Turning yourself into an emotionless machine isn’t as some claim.
These are some really good points I have come across. Many people might be struggling with one of these steps but if you keep on trying and put in a lot of effort you will eventually master that step.
Yup buddy! Though it should be finally your decision but when I have started forex trading I realized it later that I should have started trading with micro lots earlier as that have less risk involved but same level of emotional pressure.
Yeah, micro lots are pretty good for beginners. This way you’ll learn how to handle emotions in the live market scenario in a much better way than demo account.
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According to me, success comes when you trade according to the current market state, do not let the emotions in and follow a well planned strategy.
First demo and then micro. This is what is advisable and beneficial both.
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Thanks for replying! I am also thinking of starting with micro account.
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A successful trader would never stop learning because there is always room for improvement. All the other important things are well explained in the post as well as replies. But even for an experienced trader learning is essential. If one keeps on improving the strategies that are used regularly, success would be long lasting for that person.
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Learning is a never ending process and forex is all about learning, practicing and earning.
Great post bruh:heart:
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