Don't compete with other traders
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Thread: Don't compete with other traders

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    Rookie rinaji's Avatar
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    Don't compete with other traders

    Don't compete with other traders unless you join trading contest. We know that every trader has different trading styles and strategies, and different character, and also so on . While one does not want to risk more than 5% on a single trade, and he was pleased with the gains of 5-10% per month, other traders may want to take the risk of 10%, and he likes to double his account every month. It takes long time until the new trader find his best trading style, and when he does, he should not even ask how the other traders results. Trading is like walking on a tightrope. You should focus on your way... until you know the results of your way. And don't lose your confidence, but also don't be overconfidence. And the important thing is don't try to run faster than what you can. All need a process in few steps...

    cheers.

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    If you lose, be patient. If you win, stay humble

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    You are saying right we should never compare our self with any other trader some time we see that other trader's are making a lot of money and because of that we also try to take high risk and try to make bigger money but we never try to know about the role of money management in forex

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    each trader should have his own style of trading and so he should not compete with the others because he differ from the others in the experience and the way of trading, so the trader should trade with his own style and plan that let him to get good results and make consistent profits from the market always.

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    Rookie rinaji's Avatar
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    Quote Originally Posted by sameeh View Post
    each trader should have his own style of trading and so he should not compete with the others because he differ from the others in the experience and the way of trading, so the trader should trade with his own style and plan that let him to get good results and make consistent profits from the market always.
    Just focus to our progress, that is what should we do to become a successful trader, do not be influenced by other traders, I find many beginners competing personally in making profit, they feel proud and show big profits in one day and they feel ashamed to say that they have blown up their trading account, this is actually the behavior of beginners , very funny thing.

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    If you lose, be patient. If you win, stay humble

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