I get motivation from being on the right side of probability. That is my hope. When I was a losing trader I manufactured my motivation from the prospect of getting on the right side of probability at some point and become a consistent profitable trader, making lots of money. How do you get Motivation in Forex?
I like to view this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=242636&perpage=6&pagenumber=39 There's nothing as liberating as overtrading with constant 10-pip stop outs in front of the world.
FX... Ugh... The FX market acts erratic and patterns weird. The price action doesn't make sense to me. Equities move differently depending upon which direction they are moving and generally have V bottoms with rounded topping patterns on time charts... I'm very used to them. I solved the reasons why I understand equities best and not FX though. Equities and indices that primarily have longs behind them pattern in a predictable way. The higher the ratio of long positions to short positions in a instrument the easier it is to read the patterns for me. Certain stocks that have lots of shorts... Their price action makes about as much sense to me as FX price action.
When profits flows in my account- that's motivate me to come back again and again.A trader must have the motivation and confidence when making a trade, so that he will make trade comfortable and with full of spirit. Besides this, a good money management and good risk management is essential for any trader to make any amount of success in the high risk forex market.
Hi Peter, very well said.....without good money management and good risk management - NO PROFIT thus NO SUCCESS!
Thanks. Accumulation is speculation and traders trade. And 90 odd % fail...... people will and do fail at anything. hitting a nail hit my thumb so, I move thumb further away........ higher education. Do me a favour? Stop being the conscience of ET.
true, if you want to be a salesman for Edward D. Jones, you need a degree. It doesn't have to be a degree from a reputable institution that offers higher education. It can be a degree from any podunk state funded university.
Cream will rise to the top. Like ET I know (hope) EMG is playing devils advocate dude is wowser boring.
when he finally gets his college degree and completes his sales training at Edward D. Jones, he can start cold calling for them.