If someone gives you a working forex strategy, it's highly unlikely that you're going to be able to follow it exactly. This is because we all have different personalities. There is a saying in trading, 'trading your personality'.. if you find a system that agrees with you then you have a chance of making is successful. Learn about your pesonality first , before you learn or start trading live!
Every trader must understand that emotions can be managed but not controlled. But to be a successful trader, one must learn to cultivate these qualities of patience and persistence. They make an unbeatable combination for success. You have to be patient with the market and be never quit when there is a loss but rather persistent.
Has it ever seemed to you that less competent people rate their competence higher than it actually is, while more competent people humbly rate theirs lower? I'm looking at you TEB.
I usually only give likes to baboons , but Your post deserves it . Great post Sit patiently and look for one or two quality weekly trades , like this , and you can be a very succesful trader , and a real trader making money from trading. technical analysis dax signal So what specifically do I mean by ‘patience’? I mean both the patience to wait for high probability, ‘easy’ trades, and also the patience to let them run to target provided you still have high conviction in the trade https://www.google.co.uk/webhp?sour...v=2&ie=UTF-8#tbm=vid&q=patience+video+trading
PATIENCE in trading eventually pays off as it allows you to sit back a bit and wait for the right trading setup. Most traders are too eager to jump in and trade whenever any opportunity arises. This is probably due to our human nature and the eagerness to make a “quick buck”. But if there is one thing that ensures a high probability of winning, it is having the patience to grasp all the necessary information before you trade. Don’t rush things out, or try to enter in a trade at all costs by just following your gut. The market could be quite tricky and often does send out the wrong signs. Wait patiently for the best opportunities to align themselves and then act mercilessly. Being a patient trader is just one piece of the puzzle that must be in place for the picture of consistently profitable Forex trading to be complete. If you do not learn to exercise the proper amount of patience while trading the markets, you will begin doing all kinds of self-destructive things to your trading account; over-trading, trading off too low of a time frame, over-leveraging, etc.
The best traders have the biggest egos and self confidence. This zen$hit you hear bantered about where the losers gather is nothing more than the markets way to keep the losers bleeding money to enrich the winners.
Thank you very kindly. Just like some of us here, I generously share what I know to help beginners and experienced traders alike as I also tap into the knowledge of others through this forum. Thanks once again.
In addition to what I have posted earlier, a successful trader is one who trades without fear or overconfidence. They've been able to put under control their emotions. They discern also, what the market is offering from its perspective, and they stay completely focused.
Good point, and maybe if summarized success trader if they anyone trader that having good psychology trading which having confidence but not over confident, no fear with loss and having positive mindset on their trades