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Why do Newbies Lose? 423 replies

Motivation Zone - Share what/who motivates you 237 replies

Motivation in trading... 17 replies

How do you newbies not lose your motivation?

Im still new and learning. I traded for roughly a year with being just under break even on my first live account which isnt too bad. I went on vacation in november and never opened a chart again until last week. I think the break did me good. I needed to back off and refocus on the task at hand and it so far really seems to have helped. I was so focused on getting better at trading that i guess i started over trading and taking too much risk towards the end. Ive got a strategy that i really believe in which helps immensely and allows me to put most of my energy into analysis and trade management instead of second guessing myself on my entry's. The most important thing for me is to try to learn from my mistakes and to believe in myself. I love trading and refuse to give anything less than my very best.
If you lose interest in trading, then so be it. Stop trading. You don't have to force yourself doing something that you don't find interesting. It's only going to be much harder for you.

Take a break if you have to...give yourself time away from trading. After some time, if you really enjoy doing this, you will be trading again.

"By allowing, all things fall into place." - Bashar
"See the ball. Hit the ball."
If any newbie wants to increase his confidence he should trade on a demo account. It has no risks. So, he can easily apply his strategy to justify himself on a demo account.
Quoting DexterDuncan
If any newbie wants to increase his confidence he should trade on a demo account. It has no risks. So, he can easily apply his strategy to justify himself on a demo account.
Absolutely wrong.
I will tear the world apart for you.
Why do you think it is wrong?
A difficult question to answer but newbies should consider this as their road to a better, more successful, future. Part of staying committed to something also involves getting along with its aspects that you may hate which, in trading, are losses, constant mental effort, etc.
Make yourself capable first for trading. Invest your time for learning. Most traders start to run for different strategies. They ignore the learning process. As a result they drop from the market very soon. Focus on developing skills.
You can read forums. practice on a demo account and talk in FF to keep you encouragement high.
I've tested a lot of very complicated systems already.
but in the end a very simple system brought the solution.
Quoting WillGagnon
You can read forums. practice on a demo account and talk in FF to keep you encouragement high.
Also, you can back test your strategy and adjust it according the market. That’s how you can build your confidence.
Quoting ViktorDanie
{quote} Also, you can back test your strategy and adjust it according the market. That’s how you can build your confidence.
+1 on backtesting, but i think it'll be much useful for experienced traders than beginners, beginners mostly follow already implemented strategies and but yes, if it'll build interest, once you start testing your trades on demo
Practice is the key and keep researching. Because the more you learn, the more confidence you gain about trading and your strategies.
Quoting DexterDuncan
If any newbie wants to increase his confidence he should trade on a demo account. It has no risks. So, he can easily apply his strategy to justify himself on a demo account.
Demo account is helpful to test new platform or trading strategy. I think it is essential for all kind of traders.
Everyone knows that foreign exchange traders suffer losses from time to time. Anyone who has ever participated in the forex market has lost money at some point in their life. Statistics show that more than 80% lose money and give up. Here are some reasons why you may lose money as a trader.
Quoting tiborf71
I've tested a lot of very complicated systems already. but in the end a very simple system brought the solution.
WOW, you are dispensing your immense wisdom everywhere, please share even more

Don't trade your heart, trade your chart!
4 Daily Signals All Time Return: na
Quoting Erebus
{quote} WOW, you are dispensing your immense wisdom everywhere, please share even more
i am a trend trader this method protects me from unmanageable bad series.
I'm just flowing with the flow.
Without enough skills and experience, it's normal to lose money and get scared. Whether new or old, we are bound to lose money if we don't understand the market and follow discipline.
Quoting HisaoFujioka
Without enough skills and experience, it's normal to lose money and get scared. Whether new or old, we are bound to lose money if we don't understand the market and follow discipline.
WOW.



LOL.
I hope that newbies try to understand the fact that the losses are inevitable and cannot be avoided, but it can be minimized by influencing the process of risk managment and money management. Also, it is very important to learn and own your mistake so that you can try to understand what went wrong and how to not make the same mistake again.
There is a misperception that for success in forex you need big capital. But only big capital can't save you. Big capital is good when you are skilled enough. Otherwise No matter how big your capital is you would lose all the money. So in learning phase, low capital is the best option.
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