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Thread: Never compare yourself with other trader's its your own journey

  1. #1
    Trader Hukam's Avatar
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    Never compare yourself with other trader's its your own journey

    Forex trading is a very risky business. But many trader's don't try to go deeply in it and do mistakes again and again. Forex trading competitions is one of the worst problem for a trader in this business. Most of time we not able to do trade with proper risk management and money management because we all are also want to make big money like other's.

    Some time we able to see in many articles or on social sites that many trader's are making massive money within small amount of investment. And we also try to take high risk and try to make bigger money. But this type of risk and indiscipline can make us a failure trader in forex. Now I want to tell you about 4 reasons which will clear you that why you should not compare yourself with other trader's:

    1. It builds false hopes: This type of thinking build false hopes. Any type of high risk will not give you any success. One day it will come when you will not be able to do trade in forex due to lack of fund. So the best thing is to obey all forex rules in trading

    2. Overconfidence: This type of thinking will make your overconfident most of time and you will not be able to know the value of forex trading rules in your trading. Even you will break many rules during your trading too.

    3. Bad trading habits: It will birth to many bad habits like aggressive trading, no discipline in trading, big dreams, and you will never be happy with slow profit and will try to make bigger money all the time

    4. Give up: One day you will loose your all fund due to very high risky trading and will not be able to make even slow and consistent profit too

    Conclusion: In my opinion we should always be happy with slow and consistent profit and never try to compare ourself with other trader's because it can create the problem of greed, indiscipline some time in trading

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  2. #11
    Trader Hukam's Avatar
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    Quote Originally Posted by nkhan2810 View Post
    I have seen many times in some real money contest some traders made enormous money in quick time. It is simply unbelievable. Recently I have seen one guy of Indonesia made over 27000$ in a week with his 100$. I have seen his trades too. It was great and not too much risk was there. But it is really hard for me to do it. May be I am lacking in strategy. Actually I don't follow anyone and don't want to follow in future. I know self help is best help and learning too.
    Yeah mate there are many trader's who able to make a lot of money with their strategies and experience, Personally I like to follow my own system because I don't trust much in any other person strategy or trading system. My monthly target is not more than 7 to 10 percent but at least I am getting that and happy with my performance, Yeah we have to sure stick with our trading strategy

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  3. #12
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    That's cool $27000 profit within $100 capital, But you guys are saying right its very necessary to learn for ourself here. Its very necessary to focus on our target as you are saying Hukam that you like to focus on 7 to 10 percent I think a good goal at all because no bank give any 10 percent per month on fixed investment, I think even five percent target is better for every trader that's more than a bank interest

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  4. #13
    Trader Hukam's Avatar
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    lol nice example of bank dear, Yes you are right bank only give 10 percent max return within one year in my country, so you are saying right that if we will do trade within 7 to 10 percent goal then we can make make more than 100 percent per month which is more than any bank interest, That's why I love this business very much, forex is a great business for every person

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  5. #14
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    maybe someone do trading with high risk and work with well, but it does not mean their system will work well with us too, because we have different ability to read and analyze the market, and so you are right, never compare it with the others,
    we just need to take something simple, easy to understanding and safe

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  6. #15
    Trader Hukam's Avatar
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    Quote Originally Posted by newentry View Post
    maybe someone do trading with high risk and work with well, but it does not mean their system will work well with us too, because we have different ability to read and analyze the market, and so you are right, never compare it with the others,
    we just need to take something simple, easy to understanding and safe
    Simple trading method is always better for us you explained very well that we should never try to do trading like other high risky trader's our first aim is to focus on proper trading management, I suggest everyone to be happy with slow and less profit. Thanks for sharing your view upon this my friend newentry. Simple and easy trading system is best for our career

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  7. #16
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    Well, it might be good at times to compare yourself with other traders, because they might be the one to bring out the good in you. In fact, this brings out the motivation in me. But I will never be jealous of any trader, these are two different issues here. Ad the best traders will understand that they are motivated to be advanced by one thing or the other.

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  8. #17
    Trader Hukam's Avatar
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    Quote Originally Posted by silverlady View Post
    Well, it might be good at times to compare yourself with other traders, because they might be the one to bring out the good in you. In fact, this brings out the motivation in me. But I will never be jealous of any trader, these are two different issues here. Ad the best traders will understand that they are motivated to be advanced by one thing or the other.
    Yeah Mate there are many good successful trader in this business and we have to learn about their good trading habits in forex which can bring justification in our trading but there are many trader's who want to make money by taking high risk its very important to that leave the bad trading habits in forex we have to only follow a good trading system and have to follow better learning tips only from other's

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  9. #18
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    Yes that's good we can learn from good trader's very well and can implement their better trading points in our trading and can neglect their bad trading points in trading like this way we can improve ourself and can become a good trader in forex, that's true that we don't have to try to become a greedy like other greedy and gambler's

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  10. #19
    Trader Hukam's Avatar
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    Quote Originally Posted by Khimi234 View Post
    Yes that's good we can learn from good trader's very well and can implement their better trading points in our trading and can neglect their bad trading points in trading like this way we can improve ourself and can become a good trader in forex, that's true that we don't have to try to become a greedy like other greedy and gambler's
    Yeah that could be a better idea I think we need our own trading experience and hard work too here, because only following other's we can't become a professional trader in this field I trust much in my own trading style and my own trading learning. But you are saying right that every trader have his own trading ability so we can learn a lot from each other

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  11. #20
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    Quote Originally Posted by Hukam View Post
    Recently I have seen one guy of Indonesia made over 27000$ in a week with his 100$.
    Can you show me the initial name of this guy? I think he is very good trader. He may do trading in his real account as contest account. he trader very well and get many many more profit in forex trading. I hope you are upload the link of this guy information. I do not have any idea who is the guy who can get more profit in trading

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