Ultimately i think half the problems with most people who attempt to trade Forex have both unrealistic expectations, and also do not have the patience to stick with it to turn them profitable.
There is SOOOO much to learn about Trading, the playing field is absolutely massive, so to think you know only a tiny part of it, is probably exaggerating what you actually know.
Ultimately i firmly believe that trading forex, and becoming profitable is as much learning about yourself as much as it is about learning about forex itself.
I dont think there is any secret formulae that makes a succesful trader, but there is a common trait in ALL losing traders - they quit. If you dont quit, if you keep learning, if you apply yourself to engage with the market, what it is doing, and how you can apply your knowledge and apply what you know about yourself, you will ultimately become a successful trader.
It is half knowing what you know, and accepting half of what you know you don't know... cvds talks about his system not working for oil, and yet in the same situation, someone else is making money from it... It is a crazy world- that is for sure...
Whether you are striving for 1 pip a day, or a thousand pips per day, whether you make $10K from one trade, or happy with making 10c from a trade... EVERYONE is different, and criticizing others for their strategy or evangelizing about your own, there are going to be hundreds of traders who will happily prove you wrong either way as to what is 'best'.
Personally, i like mechanical systems that are very very simple... I have been round the Forex World (metaphorically speaking) and after all i have learned (So far!) is that the simpler you keep things, the more you can profit... Of course i like to put hundreds of indicators on my charts just to make them look like i know what i am doing....
I think I learned this more than anything last week - not strictly from my trading, but from the trading world in general.
There is SOOOO much to learn about Trading, the playing field is absolutely massive, so to think you know only a tiny part of it, is probably exaggerating what you actually know.
Ultimately i firmly believe that trading forex, and becoming profitable is as much learning about yourself as much as it is about learning about forex itself.
I dont think there is any secret formulae that makes a succesful trader, but there is a common trait in ALL losing traders - they quit. If you dont quit, if you keep learning, if you apply yourself to engage with the market, what it is doing, and how you can apply your knowledge and apply what you know about yourself, you will ultimately become a successful trader.
It is half knowing what you know, and accepting half of what you know you don't know... cvds talks about his system not working for oil, and yet in the same situation, someone else is making money from it... It is a crazy world- that is for sure...
Whether you are striving for 1 pip a day, or a thousand pips per day, whether you make $10K from one trade, or happy with making 10c from a trade... EVERYONE is different, and criticizing others for their strategy or evangelizing about your own, there are going to be hundreds of traders who will happily prove you wrong either way as to what is 'best'.
Personally, i like mechanical systems that are very very simple... I have been round the Forex World (metaphorically speaking) and after all i have learned (So far!) is that the simpler you keep things, the more you can profit... Of course i like to put hundreds of indicators on my charts just to make them look like i know what i am doing....
I think I learned this more than anything last week - not strictly from my trading, but from the trading world in general.
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