Agreed. But to be a little more specific I think its a shame that experts and teachers and mentors put little so emphasis on stay-out signals. Of course, all struggling traders want easy categoric entry signals.
But a loss can only be incurred after entry. Exit signals after an entry are only half a solution. A stay-out signal stops the whole thing from even starting.
Entry and exit are secondary for me, when it comes to trading. I believe one should at least step into the market to closely monitor their own performance. One should start in order to proceed whether to hold on to trading in the long term or not.
It is up to the individual. whether or not a person is interested in trading However, in my opinion, a person should at least try trading once and give it a shot.
Thank you for sharing. It’s really true that one should be able to stay out of the market when it’s not going as per their expectation. If you don’t see any good trade setup then call it a day and leave instead of forcing a trade just for the sake of it.
Overtrading is one of the most common reasons people lose money and blow their accounts. So, instead of overtrading, sometimes not trading is a good strategy.
I agree! Overtrading is the most common reason why Forex traders fail. The best way to avoid it is by figuring out the best trades and not trade more than what you can afford to lose.
NO. If you want to become a master at the art of forex trading, you should keep trading regularly. This will allow you to gain experience which is very important when it comes to being successful in forex trading.
It is true that a good trader knows when they should stay out of the market and enters the trade only when they see a good opportunity. It is better to not force a trade when you are struggling to find the right setup as per your strategy.
Hmmmm. Very strong rejection. Although I understand where you’re coming from, I do think that it really differs for everyone. Sometimes, the smart thing to do is sit out a few trades every now and then. But I’m curious, how often do you trade?
If you want to lose weight not eating for 10 years is a great strategy as well.
I think people need to temper their expectations with this business of trading and appreciate that it is not an exact science.