I like this post but modesty forbids me from Liking it.
" Failure is Success in Progress "
Albert Einstein
To be able to become better traders we will have to start doing the hard work.
In my opinion, One quote that applies best to forex trading is: “Practice makes a man perfect.” Practising on a demo account helps a trader to fine tune their strategies and upgrade their skills. It also gives them practical knowledge and experience so that they do not fail or suffer a loss when they start trading with their real money from a live account.
“Fear, inherently, is not meant to limit you. Fear is the brain’s way of saying that there is something important for you to overcome.”
Fear is the most common emotion in trading forex. Fear can only be controlled by actually facing it.
The biggest risk is not taking a risk. In a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks. Not only in forex but there is risk in real life too.
“The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless- Jack Schwager” according to me is the best quote.
The best quote that defines the trading market is “All that glitters is not gold”. Often, forex is considered as an easy path to riches, however, just like any business, it requires hard-work, consistency and patience to achieve stability in generating profits.
‘Never judge a book by its cover’ might be apt here, as forex might seem to be an easy road to riches, but it is actually a rocky road of highs and lows before one finally gets to the success point.
“Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets.” in my opinion best applies to forex trading.
90% of Plebs will lose 90% of their pocket money in the first 90 days of Gambling
Halfway there! Don’t slack off now, you’ve gone so far. Keep pushing yourself. You will finish the School of Pipsology before you know it!
Goodone i have learned about to FOCUS. cheers
I like this one
“Trading is a high risk high reward business”
I Ihave two:
First one is A trader’s job is not to be right but to take whatever the market gives him and profit from it. I got this one right here on the forum and Patience alone is worth more than an entire book of trading techniques from a book called Mastering Trading Psychology by Andrew Aziz and Mike Baehr.
None. Delete this dreamworld of quotes, face the harsh reality of forex trading and learn from that.
It’s very interesting to relate this with a quote. It’ll probably be ‘a cool and sharp mind can be a prosperous trader.’
Was that Warren Buffet?
“Bigger the risk, bigger the reward. But the higher the climb, the harder the fall”, this is a quote I swear by while making trading decisions in order to keep my emotions in check. Also, it is a constant reminder to follow risk and money management techniques to minimise losses and use stop loss before making all decisions.