Challenges as a Forex Trader

Discussion in 'Forex' started by PriceAction Ltd, Dec 14, 2020.

  1. As a beginner trader, what problem or challenges do you usually face? And what do you think would help you do better?
     
  2. AbbotAle

    AbbotAle

    5-10 years of hard work.
     
    Snuskpelle, VPhantom, atawil and 3 others like this.
  3. shadybee

    shadybee

    When I was a newbie myself back then, the biggest challenge I faced was not having good emotion control when it comes to trading.
     
    Nobert likes this.
  4. El Trado

    El Trado

    Agree with AbbotAle and shadybee. Did a lot of stupid decisions back in the days. Experience, practice and about 3000 books later, it works out a lot better today :)
     
    padutrader and Nobert like this.
  5. Jenci

    Jenci

    There are several challenges a forex trader faces like overtrading, withdrawing too fast and the fear of missing out.
     
    atawil likes this.
  6. padutrader

    padutrader

    getting good education.......

    i read my first book in 1994........after about 50 books in 13 years i found my HOLY BOOK.....then my work began.......

    now after finding my book it took another 13 years to develop a system to trade......a system is important to have ....if you do not have a system you tend to over trade.......money is made by over trading but, the only trouble is ,it is made by your broker...it would help me greatly if he could share HIS profits with me

    my broker sent me love and kisses every single hour for decades.

    the biggest problem was no one encouraged me not friends not family not parents........that is why i left trading many times in all the years
     
    Last edited: Dec 14, 2020
    Onra likes this.
  7. Esha.J

    Esha.J

    Every beginner to forec face challenges when they try but don't understand the market well. Frustration may lead to loss. All you need to do is keep your mind calm and relax. Firstly take adequate knowledge about the trading pair then step into it. This will help you do analysis of your own mistakes, mark it and never repeat them. This is the best way to start.
     
    tradenet likes this.
  8. Wolfe_tr

    Wolfe_tr

    There aren't one that i can name because there are honestly many challenges that one has to face as a newbie. So the key is to work on the lows with constant hard work if one wants to be successful.
     
  9. Marcos

    Marcos

    I think consistency is one of my major challenges.
     
  10. Ponmo

    Ponmo

    Revenge trading and not cutting my losses.
     
    #10     Dec 16, 2020