Crushing your dreams about trading

Discussion in 'Psychology' started by qlai, Aug 8, 2021.

  1. many newbies who come to trading in their head only think of quick and easy money, but this is not at all the case
    #21     Aug 19, 2021
  2. Forex requires a lot of due diligence and strategies to execute a successful trade. It’s definitely not a place to just tune in and drop out. That’s a dance floor.
    #22     Sep 3, 2021
    Raheel Shaikh likes this.
  3. MotionX


    I also think the same, if a trader wants to stay in forex for a long run, then he must understand that the thing which requires to excel in forex is knowledge and appropriate skills.
    #23     Sep 29, 2021
  4. Jaagup


    Forex trading is not an easy job. It really needs sound knowledge of the market. As a trader, try to study the trends, follow a strategy, and practice daily to have control over the trading process. This will benefit you in long run.
    #24     Oct 1, 2021
    Raheel Shaikh likes this.
  5. Forex isn't a get rich quick scheme, although as it says a beginner's luck but eventually you have to apply your own mind.
    #25     Oct 6, 2021
    Raheel Shaikh likes this.
  6. Tora


    Well, the main idea is definetely true.
    Trading is not a source of easy money and trading is highly unlikely to turn you into a millionaire in a minute. Everybody should get rid of such ideas before coming to trading because these goals will definetely make you ose lots of money and spoil your mood. However, I don't agree with the guy when he says that no matter how hard you work, nothing is guaranteed. I am skeptical about this opinion because I believe that those people who claim that they learned the market really hard and thoroughly, and theu failed, didn't really work hard. Surely, nobody guarantees you that you will be the greatest trader if you spend 10 years learning the markets, but you will know much about the market and this knowledge will help you make decent profits from trading. I think that we should put it this way.
    #26     Oct 6, 2021
  7. deaddog


    How are you going to work harder at trading?

    More research? More time going over charts? You have to work smarter, not harder.

    If you continue to do the same thing and expect different results, I don't care how hard you work, nothing will change.
    #27     Oct 6, 2021
    formikatrading likes this.
  8. Sometimes less is more in this business.

    Also, there are a lot of flawed assumptions traders have about how the markets work or how to trade.

    If your beliefs, assumptions and biases are messed up, you can work hard and fail hard.

    #28     Oct 7, 2021
  9. Forex trading has got to offer a lot of profits to its traders. It’s all a matter of knowledge and how well they understand the market. But in no way, it should be taken lightly. Work hard if you wish to earn well.
    #29     Oct 11, 2021
  10. jocrape


    @formikatrading Working hard doesn’t necessarily mean working continuously and trading when there's no need. Working hard can simply mean staying consistent and putting in the work that is required for the success in trading.
    #30     Oct 14, 2021