Do not believe in traditions because they have been handed down for many generations.
Do not believe in anything because it is spoken and rumoured by many.
Do not believe in anything simply because it is found written in your books.
Do not believe in anything merely on the authority of your teachers and elders.
But after observation and analysis, when you find that anything agrees with reasonthen ACCEPT it
-The Buddha
Well, I am not here to discuss the golden words of The Buddha, but a good thought applies everywhere, no doubt. Even in the forex world! Isnt it?
Success in the forex trading is not about how much profit have you made here; its all about how do you take your losses to convert them into the profits!
Be yourself in forex trading
This simple magic line in forex says that, you dont need to follow anyone, make a unique plan, and design a strategy of your own. Everybody has a different perception of everything and so it isn’t necessary for the same rule to be applied on your technique of trading. Forex trading is very uncertain; no one can predict where market will move! But of course, experts view should be always welcome who know and observe the market much better.
Congrats! If you have lost one more time in forex trading
It means you are going to add one more point in the list of dos and donts in forex trading. This is the list you should be preparing by your own experience in this business, only yours, not other’s!
You are not a loser until and unless you feel the same for you
Oh yes, this is the.I knew it!
Dont try to speculate the things like this; you are a Trader so try to adopt certain principles and disciplines. You should not be impatient in forex trading. Observing situations like this is an example of short term scalping and an un-matured trader. Now what is needed in forex trading?
You need knowledge, practice and Time.
Let a magician turn his stick and you will hit the market
Wow! Things look so easy. But let me help you figure out one thing. If you win by coincidence and luck, you will say predictions working here. But if you lose, you say once again its my bad luck! The point is, if this is a simple future predictors game, then why they dont earn if they were very obvious about the future price movements. Its all crap! For earning profits here, you need to adopt certain trading strategies. Once you use these strategic trading disciplines, you will not only make money, you will earn knowledge and experience for sure. This knowledge gained will definitely increase your confidence in trading which will help you know the market better and in turn take decisions accordingly.
The same market that makes you poor makes you rich too
The markets where traders face loss, same market make them a successful forex trader too.
I am rich so I am successful too?
Let me ask you one question. Are all the successful traders very rich? Have they never lost? Well, the answer is a big No. Even the successful one had faced loss in more than half of the trades. Here a successful Forex trader means, how much knowledgeable he is? How well has he observed the market after practicing here since so many days?
They are the traders who expertise in Forex Trading. One should either call them rich because of profits or call them a learner because of losses.
Just the right attitude here makes you unique!
Good luck traders…happy trading!