Important lesson from forex

One most important lesson is there’ll always be more to learn; and whenever the lessons comes, receive as being unlearned.

It’s crucial to know your limitations in trading. It includes identifying your risk tolerance for each trade, adjusting your leverage according to your goals, and never risking more capital than you can afford to lose. It’s essential to have a solid risk management plan in place to protect your investments and avoid significant losses. Always remember that trading involves risks, and it’s crucial to manage those risks to achieve success in the long run.

1 Like

being realistic and sensible!!! That should be taken into account.

That’s an interesting approach! Starting with a strategy that has a high win rate can provide a sense of confidence and consistency in your trading.Good luck!

1 Like

agree , on the other hand need a perfect practice session . otherwise any kind of trading approach can be useless.

I traded initially based on my wild guesses that made me suffer losses in bulk.

1 Like

I have learnt that success in trading is directly proportional to the research and practice invested.

Yeah, wild guess can do that. I did the same when I started trading on my demo.

I guess every new trader does the same thing :grinning_face_with_smiling_eyes:

patience
it is very important here
iff you are patient you can defeat greed ( i cant do it right now)
and it helps you to be patient in life too (when you wife wash dishes and say everything is bad in this home you will not say any thing to her and you will be silent and patient :smiley: )

patience is really important in trading as well real life , but as a beginner trader that is really difficult to make sure perfect patience seance due to low experience of trading life.

1 Like

Agreed. patience is a matter of great importance. Do you have any suggestion on how to improve it?

Discover the cause of your impatience, and then work to fix it. For instance, stress, fear, and worry can all contribute to impatience. You can increase your patience by figuring out the causes of these issues and correcting them.

Wise words @Lee-me thank you.
We master patience via repetition, much like most other skills. We can develop new ways of relating to ourselves, other people, and our life. And yes, everyone and everyone can do it.

1 Like

Honestly, now that I’m thinking about it I think what you said is an approach that works. Just find what cause the problem and solve it, Done!

You are most welcome.

Can you elaborate on this?

Think about patience as a habit. You’ll eventually master it through being patient in a variety of scenarios (much like how habits are formed).

I get it now! Thank you for the explanation @Oli_jackson

Anytime :wink:

1 Like