desk your emotions will be under control and youll be ready to approach the market in a neutral state of mind. Not just trading money, but every penny to his name. This guy was trading the market before the internet was even publicly available. The exception being the charts I post on this site of course. So when you define your risk on a trade as a percentage, it only triggers the logical side of your brain and leaves the emotional side searching for more. Embrace the challenge and focus on the journey to becoming a successful Forex trader and the money will come. At a 50 win rate thats a 20 gain on a 5,000 account over the course of 10 trades.
Passionate about something niche? Whenever the trade is going against you but you haven t closed the trade yet, it s called drawdown, most trades experience drawdown, it is the nature of trading. Sometimes you don t enter at the optimal time, so you have to deal with drawdown until the overall strength prevails.
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Dont get me wrong, nobody likes to see a trade go against them. This is because pips and percentages carry no emotional value. You should always be able to answer this question with a resounding yes. In it I talk about the need to think in terms of money risked vs. You will never know failure if you dont give up, just as you will never taste victory if you dont persevere. It can be done, but I wouldnt recommend. Forex world is that 95 of, forex best forex trading platform us forex traders fail. So why is the failure rate so high for Forex traders? Once youve mastered those three or four things, expand to others to continue stacking the odds in your favor.