Identifying your weakness

Thats not a bad thing at all. Get a working system and let your natural obsessive compulsive nature carry you forward :slight_smile:

My main weakness is my lack of patience. I either open positions too early or I close them too early.

Traders who identify their weaknesses in trading they try to improve their skill . They do not remain fix that they are right and market is doing bad if they aware of their mistakes either they are greedy or having less knowledge they realize the importance of practice and experience.

To know our weaknesses is very important with it we will be able to improve trading ,If we know which area of trading requires more practice we will certainly do efforts to get command over it. If we think our self perfect we can not identify the reasons of our loss.

It’s very hard to find your own weaknesses, we are blind to them.
It’s far easier for someone else to spot the weaknesses in our trading than for us to spot our own.
A journal helps give you the distance you need to see these weaknesses.
Working with other traders is very beneficial for discovering how to improve.

A lot of the top traders suffer from many of the same ‘weaknesses’ we do. Getting in too early. Getting out too early. Getting out too late. Fear Anger Greed.
It’s hard, the best of the best have just managed to mitigate the negative effects but not eliminate them.
The positive will outweigh the negative, staying solvent is a key ingredient of this.

I have a hard time managing my fear and anxiety when I trade, and that leads to mistakes.

Yeah, if we know our weaknesses, we can become successful in Forex Trading as either we will learn to avoid that weakness, or we will learn to harness it.

Knowing one’s weaknesses is only the first step. Once you know your weaknesses you need to be willing and able to work on them and better yourself.