Never take your retaliation on Forex

[Alexe]

Successful Forex trading doesn’t consist of how much money you are making, or if you can beat your last record. It doesn’t  consist of how much you trade on the volume that you trade or your account balance. Forex trading is all about making the right trades, following a simple trading plan, sticking to the rules that you made earlier (in your trading strategy), Forex is all about discipline.

Do not forget, the more money you have in your account balance, the more likely you are to sabotage yourself and to lose everything, especially when you get upset on your not so good trades. It is absolutely normal to be wrong, but be careful that your ego might come in to play and emotions then take control. You will get angry and you will want to get your revenge on the Forex market. In most of the cases, revenge trading is not good and will end up even worse.

 

You must realize that the Forex market does not know you and does not care if you win or lose. But will not hesitate to take your money if you’re careless and inattentive in choosing your trades. You will then start looking for traders that offer unrealistic profits and will make foolish mistakes, just because you want to get your money back fast.

You will have very big expectations from your trades and will want them to be successful ones. Actually, you will be looking for the next astonishing transaction. Doing this you are actually preparing yourself for an even bigger loss that will come. You will not tolerate the idea. This can be very dangerous for a trader because it can lead to series of considerable losses. You will want to quit and stop trading.

The only way to avoid this, from happening, is to have a very well defined trading system in choosing the currency pair and the trades. A good capital management and risk management integrated into your trading system, that you must follow as your Forex bible, is very important. This way you will take it as a personal thing when you lose in a trade.

[pepy]

RIght plan, right time, and right risk management. Combine those 3 and in relatively shorter time you can make a difference and your trading will be more profitable rather than before. I myself see that forex is a big risky business which we must fully give an attention if we really serious with it.

[aliforex]

RIght plan, right time, and right risk management. Combine those 3 and in relatively shorter time you can make a difference and your trading will be more profitable rather than before. I myself see that forex is a big risky business which we must fully give an attention if we really serious with it.

totally agreed, it must we have for our trading runs well and can be controlled easily, because with the planning and also the risk management is run correctly then the benefits can we see and also we achieve, if indeed we can manage it well

[Sininfinity]

Well said OP. Many things come in to play when trading forex and they are totally worthless emotions. People sometimes tend to set wrong aims for trading. And also there is no pride in showing off. We are in this market for trading and if we can do that, then we are better off.

[Gee Dee]

Forex being the decentralized market is offering foreign currency exchange trades on a global platform and traders are actively looking for winning trades. But we can’t ignore the fact that being human, we are not emotion free. And out of rage, anger and frustration, we traders can even blow the full account. Thereby, we have to trade at the right time. Apart from the right trade, selection of right broker is also essential. Thereby I have selected ForexChief since it is providing me lowest zero spread, 1:400 leverage and re-quote free timely and fastest trade executions all the time.