Wrong Comparisons to Avoid for New Traders - Page 3
Page 3 of 31 FirstFirst 123456713 ... LastLast
Results 21 to 30 of 306

Thread: Wrong Comparisons to Avoid for New Traders

  1. #21
    There is just no need to have compared things in forex trading market, because we all are all in different thing and method by which we trade. Therefore the best advice I can give to us is that we need to just find that which works for us and then follow it with discipline. Don't compare or try doing what your strategy don't permit.

  2. #22
    Quote Originally Posted by ajagbeolegba View Post
    Well, in my opinion here, i think that there is nothing wrong in comparing myself with other traders, as long as the comparison is to my advantage. At times, it is wise for us to use the trading lifestyle of the successful traders to build our own, but we must be certain that what the successful traders are doing is actually the right thing. Also, traders have to know plainly that they should not copy traders that does not use stop loss.
    Even the copying or comparison of your life style to that of already successful traders is still not a very good comparison in the sense that for a trader that as already achieved success in this market, for it is worth it for them to seat around their PC all day to trade their $10million account just for a 10% monthly income than for you to try and do the same with an $100 account (you will not have as much motivation as they do).

  3. #23
    Quote Originally Posted by Obaforex View Post
    Even the copying or comparison of your life style to that of already successful traders is still not a very good comparison in the sense that for a trader that as already achieved success in this market, for it is worth it for them to seat around their PC all day to trade their $10million account just for a 10% monthly income than for you to try and do the same with an $100 account (you will not have as much motivation as they do).
    That is true, we all have different account size and the bigger the account size then the lesser money the trader would want to make. So, the main deal is that we focus and learn on what makes us money, knowing our edge in the market and then being serious with it, when we tend to start comparing ourselves with what other traders are doing, that eventually could get us into losses.

  4. #24
    Trader
    Join Date
    Mar 2017
    Location
    Biafra
    Posts
    11,775
    If newbies make this comparisons in the wrong way they will be making the mistakes of their lives in forex. If you do not use stop loss in trading, then how best can you protect your capital when it's obvious you have less knowledge and experience in forex. New traders should work hard and forget any fast means of making profits in forex. Patience is vital and with good learning we will always seek to improve so much and have the ability to make profits.

  5. #25
    Trader
    Join Date
    Nov 2017
    Posts
    5,282
    We all do have different trading method and most of all we ain't the same personality, so when in the market just take the test and learn how you can trade by your own trading experience, I don't like trading with the use of other inspiration because I know that actually to make money from the market, you need to focus on your experience, learn to know how to be focused on your own trading method.

  6. #26
    Quote Originally Posted by cutiekc View Post
    That is true, we all have different account size and the bigger the account size then the lesser money the trader would want to make. So, the main deal is that we focus and learn on what makes us money, knowing our edge in the market and then being serious with it, when we tend to start comparing ourselves with what other traders are doing, that eventually could get us into losses.
    What i can say here is for traders to have the right trading experience, and when the experience of the trader is complete, they will know how to handle the market, and they will be able to be totally be independent. The issues that is with many traders is the way they are feeling less of themselves, that is bad, we should feel great with our trading career, and make sure we are always doing the right thing.

  7. #27
    Quote Originally Posted by ajagbeolegba View Post
    What i can say here is for traders to have the right trading experience, and when the experience of the trader is complete, they will know how to handle the market, and they will be able to be totally be independent. The issues that is with many traders is the way they are feeling less of themselves, that is bad, we should feel great with our trading career, and make sure we are always doing the right thing.
    Getting experience will always be right there is no such thing as having a wrong trading experience. It is just our mindset we need to change and improve as we keep learning and trading with market. Do not be a selfish trader which we think that every decisions we made are the best than all, this is wrong. Be realistic and think of any possibilities could happen so we can easily accept this business with arms wide open.

  8. #28
    Trader
    Join Date
    Nov 2017
    Posts
    5,282
    It is much harder to make decisions in the market when you are new to the market, that is why it ain't good to have different learning source because as a beginner, you should be able to have different market views and then know differently how you should trade. use just one teacher if you are a new trader, learn from one source and don't try to make things complex for yourself.

  9. #29
    Quote Originally Posted by Real View Post
    It is much harder to make decisions in the market when you are new to the market, that is why it ain't good to have different learning source because as a beginner, you should be able to have different market views and then know differently how you should trade.
    For the fact that it is hard to make the decision does not mean that you cannot still make the decisions as a new trader, my only advice for those traders is to still be learning so well, and also make sure that they are trading with low risk. "Rome was never built in a day", so the new traders should know that they are still inexperience, they have to hold on, train well and never give up.

  10. #30
    Quote Originally Posted by ajagbeolegba View Post
    For the fact that it is hard to make the decision does not mean that you cannot still make the decisions as a new trader, my only advice for those traders is to still be learning so well, and also make sure that they are trading with low risk. "Rome was never built in a day", so the new traders should know that they are still inexperience, they have to hold on, train well and never give up.
    They still could but beginner's decisions always wrong with small rate of accuracy to make correct trading. For my beginner's experience I never made anything's right until I lost my money and exchange them for experience. What makes traders become more logic in trading is when they lost almost everything with their money but get back up again to try harder and learn this business with good attitude instead of quitting.

Page 3 of 31 FirstFirst 123456713 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •