I have been a long time meditator, so that has helped me a lot when it comes to mitigating these hardwired responses. But it was not just the meditation, but also the physiological knowledge of how and why it happens. Having an understanding of both, it allowed me to apply my intellect in a more precise way so that when the emotions do arise, I was able to not only understand them, but breathe my way through them.
For me, the way has never been around, but through. Usually the emotions has a lot associated with it too, past memories, family, cultural, personal and emotional conditioning. I’ve found that as I traded, i’ve had to deal with a lot of stuff that came up for me personally. Not just about money, but about my own sense of personal worth. Needless to say, it was and is a deep and powerful subject. It takes a lot of energy to deal with it and it is more than just “being disciplined”.
I’ve found that the one key thing for me was to have a keen sense of self awareness and the emotional intelligence to deal with my personal conditionings. This has been the most powerful tool for me.
As retail trader although they know if so many trader fail, but they still so many hope will success, actually making profit on every trades is impossible, but because still many hope will getting profit hence making us still here making transaction in forex market with expectation will increasing money
Another pointless post brought to you by the good people at @bearish and Co. Honestly bro, what is it that you want to say? None of us have ever understood a single word that you have spew forth.
Positive approach is the key for getting success in this business, so many people are failing due to negative approach as they trade without knowledge, greedy intention and expecting huge profit, otherwise forex is lucrative and interesting business.
It is said that the failure rate in the forex industry is very high, with more than 95% of aspiring traders expected to drop out of the game within their first few years of trading.
“They’ve” been saying that for at least 20 years now to my certain knowledge !
Never did really understand that theory - Surely if 95% of 100 lost mney qnd wandered off - another 100 join and 95% lose money and wander off - another 100 join and 95% lose money and wander off - then the number of profitable traders is now 15% (about) yet still teh figure remains at “95% lose money” - whereas given a few years of repetitions, there should be masses of profitable traders , all scrabbling for the "losings of the few " (the unsuccessful ones )
So either the 95% figure is way too low, and it should be more like 99% ? or there are masses of highly successful traders in the market at any time.
Sometimes despite of having exact trading plan we cannot avoid the mistake because there is no strong money managing approach. So, only certain trading plan cannot brings profit at all times.
It is also a good approach when we know our mistakes remain away from it it means we are understanding trading rules. Trading plan requires some experience. unrtil then one can do safe steps towards trading as avoid high risks and risky times of trading to bear less loss.
Yes trading plan makes by live experience and when it take a long time it works really and bring maximal result. Because there is no way to earn money from here with a short cut way. If anyone try ultimately will be a loser.
Trading should be done with proper money management skills and strategies so that root cause of failure can be reduced and must spent maximum time in demo account to improve our trading skills.
The basic reason of failure is lack of knowledge and experience which should be grab properly in the beginning so that this factor can be overcome and we will be able achieve our targets of generating reasonable pips from the business.
He has a point, many try to go in to big and end up losing more than what they can afford
They think because they invested a lot or have been full on researching for a short time they know everything and nothing can go wrong
But they usually end up shooting themselves in the foot really fast, as they see that everything can go wrong, even if you are the best
Experience will be your best best friend no matter what, if you keep going, but to get that experience you need to have the knowledge as a base
Lack of knowledge is the main reason that we are not achieving our targets so its necessary that our main objective should be learning to overcome the factors like greed thus we will manage to generate profit.
