What trading challenges do you face as a forex trader?

Beginner Questions
1

Depending on where you are in your forex trading journey, which of the problems below do you still face?

  1. You feel overwhelmed by the amount of information required to get started in trading.
  2. You are looking for a structured path for learning forex trading from basic to advanced concepts.
  3. You find it difficult to apply the concepts you have studied to real-world trading scenarios.
  4. You struggle with implementing risk management strategies such as placing stop-loss orders and choosing the right position size, etc
  5. You find it hard to manage your emotions of fear and greed while trading, which causes you to make wrong decisions.

There are many challenges traders face that I haven’t included in the list, such as inconsistent trading performance, going against our trading plan, no access to experienced mentors, etc. Comment with the major problem(s) you’re currently facing.

By the way, I created a YouTube channel two days ago to share my journey and educate forex traders. I encourage you all to subscribe to it as i will sharing my ups and downs and what is working for me on the channel.

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7 Likes
2

At this moment, my challenges will be:

  1. Looking for new perspective to trade cross pair.
  2. Looking for new good broker.
  3. Optimizing my current trading methodology.
  4. Optimizing my trading infrastructure.

Those will be my major concerns. :thinking:

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3

I face challenges such as managing emotional responses to market volatility, staying disciplined in following my trading plan, and continuously adapting to changing market conditions. Additionally, filtering out market noise to make informed decisions and managing risk effectively are ongoing challenges that require constant attention and refinement.

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4

thanks for your feedback. I appreciate it.

5

thank you very much for your feedback.

6

The cardinal challenge that I mostly face is trading during market volatility and especially when any news hits the market. I feel confused about taking entries because most of the time what I predict goes wrong.

2 Likes
7

Subjects 3, and 5 really struck home with me. Application of those concepts in a practical way can be a pain but over time it does get better, long way to go though.

8

One of the main problems I’m still working on is implementing risk management strategies, particularly in placing stop loss orders.

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9

thank you for your comment. I appreciate it.

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10

thank you for your comment. I really appreciate it.

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11

This!! Everytime this! I KNOW I have to, but somehow, something makes it so hard to make the right choice and ends up being the very wrong one.

Something I work on everyday.

12

For me personally trying to fit the unpredictable news into my technical analysis is a real problem!
Its hard for me to be updated on news while I tend to trade more based on indicators and charts.

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13

Hmmm. :thinking: I’d say the main ones for me are my inconsistent trades (both number and performance), and FOMO on trades so I end up getting in even without the crossover I usually look for. :open_mouth:

14

Interesting! :blush: If you don’t mind, which broker are you trading with now and what makes you unsatisfied with their service? :open_mouth:

15

Oooh. :open_mouth: That makes sense. Trading the news is tricky for me too so I try to stay away from trading altogether whenever there’s a big event or sumth like that. :sweat_smile:

16

thank u for your comment.

17

Yes. it’s really a huge problem that experienced trades still face but it can be controlled.

18

I see. sitting on your hands while you watch others make money can really get to u.

19

#1. So much to learn! It’s overwhelming…

TA, FA , news, how it affects the charts. Understanding what indicators are saying but then understanding most of them are lagging.

It’s all like probabilities. What’s the likelihood of something happening or not happening…

And losing trades are part of the game.

20

which indicators do you use?