What if forex is actually a puzzle with no definite solution? I’ve done everything I am supposed to do. I have a trading plan. I know many strategies. I have good money management. I analyze charts for many pairs and look for setups every day. I have been trying to be profitable for 4+ years. And still... I am loosing money.
If this is you situation let me tell you one thing, the only time “indefinite” is a logical result is when you divide 1/0. Some people say you need a strong psychology to take trades. That’s partially wrong. Why would you need a strong psychology when you know what you’re doing, how much you’re risking, what is the worst possible scenario and are prepared for it? It’s when you don’t know what you’re doing and you’re not prepared for the worst that you will feel like you need a strong psychology.
Whats the point in all this? To tell you you don’t need 5 years of demo account to learn how to trade properly. What you really need is to know yourself and make use of an objective approach when learning about things that are new (and not so new) to you. Always question everything, it’s causes, what is behind a text, look for hints, shortcuts etc. Don’t just accept things because someone said it. They might be repeating what they heard from Somebody else.
The biggest mistake one can do is to think they know everything there is to know. There is always something new to learn. If you have been trying for years and still can’t be profitable maybe it’s time for you to question everything you think is right about forex. Unlearn all the knowledge that isn’t helping you. Do what it takes, to get to your ultimate goals, if you even have them. If you don’t what are you waiting to set them?
This is thread is dedicated to you reading this, you who have been looking for answers and can’t seem to find one. You who have been jumping from strategy to strategy. You who have considered quitting forex trading and going back to 9-5. Maybe you were not even looking for this thread but somehow ended up in this corner of this forum.
Know yourself. Commit yourself to your task. Write down your goals and read them out load every day. Do what it takes to complete them. Even when you do not feel like doing it.
If this is you situation let me tell you one thing, the only time “indefinite” is a logical result is when you divide 1/0. Some people say you need a strong psychology to take trades. That’s partially wrong. Why would you need a strong psychology when you know what you’re doing, how much you’re risking, what is the worst possible scenario and are prepared for it? It’s when you don’t know what you’re doing and you’re not prepared for the worst that you will feel like you need a strong psychology.
Whats the point in all this? To tell you you don’t need 5 years of demo account to learn how to trade properly. What you really need is to know yourself and make use of an objective approach when learning about things that are new (and not so new) to you. Always question everything, it’s causes, what is behind a text, look for hints, shortcuts etc. Don’t just accept things because someone said it. They might be repeating what they heard from Somebody else.
The biggest mistake one can do is to think they know everything there is to know. There is always something new to learn. If you have been trying for years and still can’t be profitable maybe it’s time for you to question everything you think is right about forex. Unlearn all the knowledge that isn’t helping you. Do what it takes, to get to your ultimate goals, if you even have them. If you don’t what are you waiting to set them?
This is thread is dedicated to you reading this, you who have been looking for answers and can’t seem to find one. You who have been jumping from strategy to strategy. You who have considered quitting forex trading and going back to 9-5. Maybe you were not even looking for this thread but somehow ended up in this corner of this forum.
Know yourself. Commit yourself to your task. Write down your goals and read them out load every day. Do what it takes to complete them. Even when you do not feel like doing it.
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Grind until you no longer have to introduce yourself. 4:30am club
