I think that being patience and keeping calm is the hardest, specially when numbers are moving against you.
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I hate it when a āredā announcement comes out such as the GDP and it is negative however, the currency rallies out of control. Iām beginning to think that I should stay away from important announcements.
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One of the things you will notice is that ānews eventsā arenāt meant to move the currency in the direction of what the new event suggest the price should go. The reality is news events are events which can push a currency 2x to 50x in 1 hour more then what the currency had traded over the past 24 hours. One of the things which you will see many people do is take positions right before news events only hoping to make a quick buck off of the shift in the price which will occur. The reality is trading in such a matter is at best gambling, and takes away from the essence of trading.
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Actually that doesnāt bother me. As long as I followed my rules I can accept that sometimes things just turn against you. Not sticking to my rules bugs me, even if it worked in my favour.
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when you have had a losing streak and you start to doubt yourself and then you canāt tell anymore if itās because the trade is just bad or you are doing it because youā're afraid
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1-2 ticks away from TP then 10+ pips reverse -.-
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[QUOTE=āHuck;685814ā]My biggest challenge is not taking trades that turn out to be winners. Lots of times I hold back because thereās a big event ahead or because I already have a similar position with another pair. Right now Iām working on being more confident in my trade ideas and stepping up my trade management skills. Hopefully Iāll get less should-have-been trades over the next few months.[/QUOTE]
You have a plan for a reason. Stick to it.
If anything open a second account to fine tune ideas and concepts where you might find a way to better optimize your plan.
But to not adhere to the plan you have negates the reason for having a plan to begin with.
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That the forex forums are cesspools of scam artists and fraudsters.
The new and the stupid I can understand, that was all of us at one time.
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What grinds me the most is when I take impulsive decisions or even forget my agenda. Most of the time my philosophy is right but then I break my rule. Or, I simply dont take the trade like a business. Any mistake I make in a trade ends up costing the trade. I will learn to be smooth and flawless. I dont care if I lose the trade, as long as I conclude that I did not commit any mistakes.
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What annoys me most is after spending time to analyse the market, and the market turns to a negative direction when I finally place my trade.
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What annoys me most is when I am caught up opposite a trend, when I finally gave up the hope for reversal, and exit the market starts moving to the desired direction in an impulseā¦is it a coincidence or is it a collective psychology situation ?I donāt know! But I have noticed many times this and feels it will be an edge if I can get a rein on emotions
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I had\ have same issue. I think we r to caught up in the 1 to 1 or 2 to 1 ratio we have to get to be considered trading correctly. But like u said, just when its about to get there it turns and our winner is a loser.
So after to many of my winners turning loser and then feeling like crap I will either take half profit at some point or I will take profit when it nears my tp. I would rather sacrifice some pips than lose them all. And if my rr isnt perfect by the book I dont give a dam.
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For me its the unbelievable amount of scams around forex. It is shocking for me how much advertisements are there on the internet, like āyou can learn the secret method to be a millionare in just 1 day, now only for $499.99ā, or ābuy this program for $299.99, just install it and your return on investment will be over 9000ā.
Iām in this small Hungarian forex trading Facebook group, around 500 people, and still these spambots and advertisements still find the group somehow, and try to sell their sh*t. Also everywhere you go on the internet, you can meet with these scams.
Iām not surprised that most of the people, when they hear the word āforexā, think it is a big ripoff. 
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I think this is a very fine idea, but for sure it has itās dark side. But waiting really can be frustrating, but one other thing I find annoying is how unpredictable the market can be, it can take fast swing on you.
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the most annoying thing about forex for me, is definitely the waiting! I want to Take Profit as soon as I make my trade, without the agonising waiting! (wishful thinking?)
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People who sell the unrealistic dream!
I have never come met a professional trader who works from their yacht in the middle of the Mediterranean off a little laptop!
Normally they work in an office, with multiple screens, a fast internet connection, squawk, maybe bloomberg terminal and drinking copious amounts of coffee to keep them awake when waiting for trades!!
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[QUOTE=ārichieforex;691350ā]People who sell the unrealistic dream! I have never come met a professional trader who works from their yacht in the middle of the Mediterranean off a little laptop! Normally they work in an office, with multiple screens, a fast internet connection, squawk, maybe bloomberg terminal and drinking copious amounts of coffee to keep them awake when waiting for trades!![/QUOTE]
Maybe a decade ago. With the advent of technology one can trade with ease in the comfort of their own home. Thereās a reason the exchanges are not nearly as crowded as they used to be.
Use trailing stops and you wont lose profits. I do this all the time
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Nothing is 100% in forex market, even the best setups fails at time. That is why it is said that donāt risk too much on a single trade.
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At the time I posted that I was trading gbpjpy a lot which was so volatile that trailing stops were impractical.
I use them on other pairs but gbpjpy was swinging 100 pips in one direction then 200 in the other within hours.
1 Like