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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. #321
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    Quote Originally Posted by Fuzz View Post
    [lang=pt]We can never think the same way that other traders because forex and something that does not match. Then each trader has just inventing their own type of strategy and to understand the graph, in trade the trader has just noticing the trend in a different way and we must never rely on other measures unless it is a correct learning. But the same so we ended up making a way but staff[/lang]
    The psychological approaches could be so much difference from each other, but rules should be properly followed by everyone, Our risk management, money management, stop loss, planning these are the important rules which should be adopted and followed by every trader. The timing of self control could be differ from each other and thats depend upon our trading experience also.

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  3. #322
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    Quote Originally Posted by Earnperfect View Post
    The psychological approaches could be so much difference from each other, but rules should be properly followed by everyone, Our risk management, money management, stop loss, planning these are the important rules which should be adopted and followed by every trader. The timing of self control could be differ from each other and thats depend upon our trading experience also.
    When we are able to follow rules in trading that means we have a good psychology because it is not that simple to abide by trading rules in the heat of trading. A good psychology develops only after a traders has attempted real trading, from his experience. A trader should chose a strategy that will suit his trading style and mindset. Another thing is a trader should learn and understand the strategy well.

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  4. #323
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    the trader should not compare himself with the others because each one has his different way of trading and has his own experience level that also differ from the others, the trader should always try to do his best in trading to be able to reach a good level of experience and trade well with little risk and make good profits from the market always

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  5. #324
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    For trading is always a journey to me and to the one who are starting because you can easily experience new this an you have to make sure you learn as you go this kind of journey is something that you don't always gurenteed that you will make money from and you will your goals you have to know ruins some other people and other do like the experience

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  6. #325
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    i try to learn from others as much as possible to understand why they make losses despite their attention to finer details and gains too and discovered you cant just copy someones pace because we all different in approach and how we relate.you got to discipline yourself in making your choices to attain consistency and sometimes the best choice for a similar trader might be the worst approach for you to make

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  7. #326
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    Yeah, this is our own business and we are not here to compete any trader but the Forex market. Our focus should be of lessen the loss and increase the profit ratio. Everyone is here to achieve his goals not to compete other traders. The traders who compete with other traders always lose their accounts.

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  8. #327
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    I agreed with the command. when i flow someone where do trade what is his entry point i get loss. So, i always support make your own decision with analyzing market and find out your entry point and exit point. that's help our your growth.

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  9. #328
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    i agree this you some time is good to ignore what other trades do in market and come up with own ways of trading and work on it. you should not compare with others but you can emulate what is good from other traders, if you do not know how to make good profit in the market and you know some traders with good knowledge and strategy to gain that much, its good to meet with the trader and learn from them.

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  10. #329
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    To me forex business is a no go area for competition because you can easily lose everything you have worked so hard for within minutes, what works for you may not work for me we must not try to be what we are not, I never liked this demo contest of a thing, traders can become greedy and impatience in their after winning a contest.

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  11. #330
    Trader xauyuro's Avatar
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    Quote Originally Posted by Hukam View Post
    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

    Yes, totally correct. everyone has their own trading journey. so do we are. Different traders differ in results.
    their jorney are different and different twists and turns. Their journey should not be a burden, do not be envious. but make their journey as our motivation to keep up the spirit and try to be better off today and beyond.

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