How to succeed when so many fail. The root cause

[Rickflore]

It’s who you come across that shapes your perspective. I have mostly met successful traders, some who made big earnings and some not so big. So there are all kinds of people. It’s each one’s practice and strategies to his own.

[OskarNilsson]

@FundamentallyFlawed

Psychology

I agree with you.The role of emotions in trading decisions needs to be minimized. In order to do that, traders must understand that success or failure is a logical consequence of their choice, regardless of luck.

[Trader_zayn]

Totally agree. If we are able to control emotions, we overcome one of the major hurdles in trading.

[ZacKing]

still one of the hardest things to control even when youre a well experienced trader.

[LiamMillen]

Failure is the pillar of success. I have made a lot of losses in trading and I have survived in Forex even after making a lot of losses. I have learned a lot from losses. There are still losses but I have improved my trading skills by accepting the losses. The more I lost, the more I learned from the loss. Loss taught me a lot. So from my point of view, I think there is a lot to learn from Loss. And there must be a loss in trading, there is no trader who does not make a loss but those who do not learn from the loss survive in the market, and those who cannot accept the loss go out of the market.

[ZacKing]

the switch to live without a profitable strategy is the most common probs

[Bipin1800]

Glad to know that you have not been discouraged by losses rather you have used them to improve your trading skills.

[Trader_zayn]

I agree, Having a control on your emotions is a slow process. But we have to somehow learn to master this.

[JenniferClark]

According to me, The most successful way to become profitable in this risky market is to make a unique and profitable strategy. Because a strategy is the main thing which can help you to become rich fro the forex market.,

[StojanAnev]

The reason is greed and lack of trading plan.

[ZacKing]

emotion control and risk to reward ratio isnt always considered carefully, thats why i think is the cause of most failures. AND people dont stick tot heir trading plans!!! such a key part of trading…

[JenniferClark]

The main technique to become success in the forex market is to sleet a good broker and make a good trading strategy.

[greenscorpio]

@Godspeed108

hat is why the people who have traded and succeed after a certain period of time (regardless of whether they are pros, retail traders, phd.s or high school dropouts) usually say that making money is rote, meaning mechanical, even boring. That is because the natural, instinctual sense of life or death that is hardwired in the amygdala is not kicking in to give one great highs or intense suicidal lows. They have managed to overcome or learned to disassociate from it, hence are able to see the market clearly and not affected by the sense of " I am losing!" or “I am winning!”.

great post particular the above paragraph

[BobWeb]

@ZacKing

emotion control and risk to reward ratio isnt always considered carefully

I am also focusing on these points quite seriously.

[Karry09]

I reckon that!

[AliForexTalks]

Thank you everybody for your suggestions. It is, without a doubt, a unique take on trading psychology. Very helpful!

[RomeoMax]

Three keys according to me are:

• Knowledge
• Patience
• Hard work

[no_frame]

Focus on becoming a good trader rather than becoming a successful trader or a professional one.

[alenmiz]

Indeed!
This is the crux.

[alenmiz]

Just focus on risk, money and emotional management.