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Thread: A new trader need much self control and discipline in forex

  1. #1
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    Exclamation A new trader need much self control and discipline in forex

    I am doing trading since a long time and finally I come to know that new trader's need much self control in this business. Old trader's know very well that how they have to do trade in forex but when we enter as a new trader in forex then we don't focus much on trading discipline and on self control.

    I just completed one year now in forex, first 3,4 months I just waste my all time to make a lot of money in forex I became greedy most of time and don't focus much on forex trading principles. I just want to tell every new trader that don't do that mistake. Because if you will loose your money like this way then you will feel bad like me.

    A new trader have to learn step by step in forex. He have to do a lot of hard work. Only your hard work will help you to achieve your goal. Along with it I check that most of new trader's want to do trade with short cut method's like buying signals, buying robot etc. New trader's have to also not focus on them. We need much hard work and we have to always maintain proper self control and discipline in trading hope all new trader's will look at this thread seriously.

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  2. #251
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    Quote Originally Posted by AmitChallenger View Post
    Yes self control is important to remain on the good side of the market.I think Forex is hard because traders find it hard to control some of their negative emotions. As for my experience in that, i make my target in pips not in dollars. i set a daily profit target of 50 pips. this makes me focus on performance rather than profit in dollars.
    It is good for traders to always behave themselves in the market, this is the right way for traders to be sure of what they are doing as well. If you are disciplined, you will be careful of the way to trade, what to do at any point in time, and be sure that you are trading without deviating from your true trading plans itself.

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  3. #252
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    Quote Originally Posted by cozard007 View Post
    It is good for traders to always behave themselves in the market, this is the right way for traders to be sure of what they are doing as well. If you are disciplined, you will be careful of the way to trade, what to do at any point in time, and be sure that you are trading without deviating from your true trading plans itself.
    Yes sir right work is the only option here and the big secret of forex is that there is no secret !!. The unsuccessful forex traders,who propagate huge earning ideas, who turned to be mentors keep making courses and webinars with attractive names just to make up for the money they lost.

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  4. #253
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    Quote Originally Posted by AmitChallenger View Post
    Yes sir right work is the only option here and the big secret of forex is that there is no secret !!. The unsuccessful forex traders,who propagate huge earning ideas, who turned to be mentors keep making courses and webinars with attractive names just to make up for the money they lost.
    Trading learning can't be successful until we don't have the right forex trading education, you know the main cause of learning is the lack of knowledge. I have seen a lot of trader's who have wrong approach in trading always, they believe that this business would give them quick money always and they will earn huge in one day. So its simple that when they have wrong approach and mindset then mostly they have to handle bad situations and tasks in their business.

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  5. #254
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    Quote Originally Posted by AmitChallenger View Post
    Yes sir right work is the only option here and the big secret of forex is that there is no secret !!. The unsuccessful forex traders,who propagate huge earning ideas, who turned to be mentors keep making courses and webinars with attractive names just to make up for the money they lost.
    Well, if there would be a secret at all, it would be personal to the trader himself. But in the market itself, there is no secret, it is a plain and pure market that is having the same chart representation all over the world. All we need to do is to find the appropriate means that would make us successful in it, and that is through the right deals taking.

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  6. #255
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    Quote Originally Posted by cozard007 View Post
    Well, if there would be a secret at all, it would be personal to the trader himself. But in the market itself, there is no secret, it is a plain and pure market that is having the same chart representation all over the world. All we need to do is to find the appropriate means that would make us successful in it, and that is through the right deals taking.
    Yes there is no secret in the market and the only secret to make money is the skills to trade and the ability to stay disciplined. Forex is challenging and if we can win this challenge we will be in profits. However if we fail to trade properly or get emotional while trading than the results can be loss of money. If we cannot manage the risk in trading we can lose a huge amount of money in a short time in trading.

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  7. #256
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    Quote Originally Posted by cozard007 View Post
    Well, if there would be a secret at all, it would be personal to the trader himself. But in the market itself, there is no secret, it is a plain and pure market that is having the same chart representation all over the world. All we need to do is to find the appropriate means that would make us successful in it, and that is through the right deals taking.
    No secret to be success, but keep in discipline way, and keep structured and then trader will get the numerous prospect in forex trading. I see many people just get mad in forex trading because of the heavy duty of the challenge. Forex trader must be able to improve the forex trading skill, no secret at all.

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