• The Forex, Binary Options Forum - welcomes you to our Community!

    DigitalCashPalace Forum is dedicated to discussions about Forex, Binary Options, commodities, stocks related.

    Please take a look around, and feel free to .

Admitting your weakness as a trader

My man problem was overtrading, basically I used before a higher trading leverage, so it was too easy to use high trading lots size, but now I am not following this way, because I know the result of using high trading lots size! There is no way without money management policies.

Still it is a problem for you?
 
1. Foreign currency exchange traders need to be cautious before he can start trading with any investment project. At first, a trader must try to recognize his trading requirements, limitations and competencies. A scrutinize analysis of self assessment can help a trader to carry out his trading journey in the more efficient manner. And yes, if a trader can ensure good understanding of the forex market he can think of winning situations.
 
There are as many different trading strategies as there are traders and they are all valid. Successful traders choose a strategy that fits their temperament and that makes sense to them.
 
Totally agree. The right strategy will help earn more money. Before that we have to define price structure and use dow theory to confirm it. Test it and make it. Expert trader as I know have more than one trade strategies in different market.
 
You need to be realistic in life. You have to admit what your strength and weaknesses are. There is no point in being arrogant and naive. Life is all about learning. If you have ever think that you have learned everything, then it would be the end for your trading career.
 
You need to be realistic in life. You have to admit what your strength and weaknesses are. There is no point in being arrogant and naive. Life is all about learning. If you have ever think that you have learned everything, then it would be the end for your trading career.

Good thinking. Basically, which traders have learning mentality, end of the day they really can make enough money here. Because, knowledge is the key of success in trading business. In addition, all of the pro traders well known about technical & fundamental analysis.
 
Some of my tips for new traders is try to understand the trading business. You have to have knowledge and skills to do good in trading. Don't expect to make money just by entering into the market. Try to learn the mindset a professional trader should have.
 
Forex is a business that requires a lot of knowledge, experience and skills to be profitable. Most people here do gambling as they are not willing to spend time to learn it.
 
It's just that if I don't catch my weakness, I will never be able to make a good profit by trading. So we have to work on those weaknesses. I have a weakness I keep an extra focus on the platform after doing a trade. So many times I can't make a profit even with good analysis. Because in this case my emotions are reflected.
 
Leverage is a complex topic and you may know that higher leverage is a threat to your survival. Some traders build castle in the air about Forex trading that destroy them ultimately.
 
The higher the expectation is, the lower the satisfaction is. We shouldn’t budget any profit amount because Forex is highly uncertain which carries a pack of risk for us. Knowledge of how to handle volatility needs is needed.
 
Top