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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. #21
    Trader techboy's Avatar
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    Quote Originally Posted by forexlearner View Post
    That's cool $27000 profit within $100 capital, But you guys are saying right its very necessary to learn for ourself here. Its very necessary to focus on our target as you are saying Hukam that you like to focus on 7 to 10 percent I think a good goal at all because no bank give any 10 percent per month on fixed investment, I think even five percent target is better for every trader that's more than a bank interest
    True, even if your equity gain 5% a month, still its way higher as compare to a regular investment from any bank, but if you have 100$ deposit with 5% gain that will be an insignificant amount, you cannot even pay you internet bills for these kind of profit, that is why other traders with smaller capital becomes more aggressive in their trading so that they can make much higher gains, and its possible in forex market because of high leverage setting,high liquidity and volatility, its just you must have a very good strategy to use and a good control of your emotions.l

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  3. #22
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    [lang=ar]sure we should not try to put other in front of our seeing . but we may be so confident with our trading and with our percent of profit or loss . here comes the role of our self confident then we may not know all the circumstances of the other traders . we may be so little than them of the time and the possibilities[/lang]

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  4. #23
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    [lang=id]many traders wanted to get the best results, so they started to hunt some trading system and hoped to get the best one, but they did not pay attention for their own power, everyone have talent and just needed to develop it,
    and also, some problems come up when the emotion stay in mind, there are many problems was invited by emotion and became a serious problem for traders,
    so it is better to use our own trading system and not follow the others and hope to get the best one but did not understand for how to operate and use it[/lang]

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  5. #24
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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 our self with other trader's because it can create the problem of greed, indiscipline some time in trading
    I dis agree with that we can compare our selves with the good traders that who can make very good profit from that market,That will encourage us to make more profit and will encourage us to learn more and more,I see that this is one of the best way to try to learn that we compare our selves with the good traders,

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  6. #25
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    I see no reason why traders could have a means of working without having it safely. There is no way you can not have success the way you want, try to understand it in the right way, you can use other traders idea, you might use your own as well. But make sure that you are in right line of trading, this is what will bring success toward you.

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  7. #26
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    I am 100% agree with you never compare yourself with other trader, Forex trading is your own journey. But true is that most of the trader compare himself with other forex trader, as a result trader make loss. Every trader has their own trading system to win the forex trading race. So make your own trading system and don't compare with other

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  8. #27
    Trader techboy's Avatar
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    Quote Originally Posted by Bishwajit88 View Post
    I am 100% agree with you never compare yourself with other trader, Forex trading is your own journey. But true is that most of the trader compare himself with other forex trader, as a result trader make loss. Every trader has their own trading system to win the forex trading race. So make your own trading system and don't compare with other
    At some degree it is true, traders perform differently during trading but if we follow a particular trader strategy that has good results exactly as it is then perhaps we can say that we have same results with that particular trader, if we cannot be profitable in manual trading then maybe we can look for other alternative such as copy trade.

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    " Trading is 70% Psychology, 15% Risk Management and 15% Strategy ! "

  9. #28
    Trader Hukam's Avatar
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    Quote Originally Posted by alaa_22 View Post
    I dis agree with that we can compare our selves with the good traders that who can make very good profit from that market,That will encourage us to make more profit and will encourage us to learn more and more,I see that this is one of the best way to try to learn that we compare our selves with the good traders,
    Brother I think you just read only the title fo this thread, Please read the all thread then you will come to know that about which I am talking in this thread, I just want to say that never try to follow greed trader's or gambler in this business, My point is to focus less risky trading, with low lot size and proper risk management

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  10. #29
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    Quote Originally Posted by cozard007 View Post
    I see no reason why traders could have a means of working without having it safely. There is no way you can not have success the way you want, try to understand it in the right way, you can use other traders idea, you might use your own as well. But make sure that you are in right line of trading, this is what will bring success toward you.
    There are many types of trader's in this business many of them are gamblers and many of them are good successful trader's it will be best to neglect their bad trading points and we should only try to accept their good trading points. I think thread creator explained about it very well but many of us are getting it wrongly

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  11. #30
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    Quote Originally Posted by techboy View Post
    True, even if your equity gain 5% a month, still its way higher as compare to a regular investment from any bank, but if you have 100$ deposit with 5% gain that will be an insignificant amount, you cannot even pay you internet bills for these kind of profit, that is why other traders with smaller capital becomes more aggressive in their trading so that they can make much higher gains, and its possible in forex market because of high leverage setting,high liquidity and volatility, its just you must have a very good strategy to use and a good control of your emotions.l
    that's right, so here is one of many reasons that trader got losing in this business, small capital to reach good profit and push them to trade aggressively , and included me that i have to make enough daily needs, so lack of knowledge is not the only one reasons that will lead the traders face some loses,

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