Harshest lesson that you've learnt trading forex?

Whats the harshest lesson that you've learnt trading forex?

They say this is where you learn the most - from your losses... Personally for me its to double check news days before entering any type of trade

How about you guys? Care to share some experiences?

Revenge trading ... Never base your new position on your last loss in the hope to get it back. Each trade is a new trade and must be based on current facts/analysis.

A very fair point. I use to do this too!

Who did not?!

My personal opinion and feedback....

1. There's not always a perfect set-up and there's no need to force the issue all the time. Sometimes it's just not a trading day and we have to accept that
2. Forex doesn't make you rich until you make it as your passion
3. Do not over trade as Master FeruFX mentioned "Revenge trading" always accept losses and use stop loss
4. Do not go live until you master a system in demo or a very small account

I think the hardest part of the forex trading is to make a profitable plan to make money from this market. Most of the traders lose their money because of their wrong strategy.

Earning money from changes in exchange rates of currencies, shares or raw materials is always associated with the possibility of losing money.
Sooner or later, everyone goes through this and there are only two ways to go. The first is that a person understands the need to reconsider their trading views and methods or decides to leave the market. Sometimes everything can end up with a systematic loss of deposit.
Most of all trading has taught me patience. It's very hard to accept loss at first. After all, there was just money, and now it is gone. It does not matter at all why they are lost, it is an event that has taken place and it can't be changed. It could have been a reckless trading action, a coincidence, for example, a sudden political news. It's nobody's fault and you have to wait for the next opportunity to earn, cover the loss and make profit. Trading is just not going to work, you shouldn't count on it.
After a while, usually a few months, the trader begins to calmly experience negative results, look into the future with optimism and understand that today is a minus, tomorrow will be a plus, everything is cyclical and repeated as a change of seasons. There are, of course, series of failures, but there are also sequences of good inputs and brilliant final results. All of this starts to be seen in general over time, rather than as a set of individual deals, which allows you to think big and not focus on local failures.

If you want to make money from this risky market, you need to have proper knowledge and education. Without proper knowledge it is quite tough to survive in this market.

That it is okay to bear losses at times.
Learned how to smile even if I see my money going away, learned how to deal with losses and still be motivated to cover them up soon.

Revenge trading.

Personally, trading has taught me the most about learning from my mistakes. For this purpose, it is very useful to keep your trading journal.
Regardless of your past or approach - investment, short-term trading, technical or fundamental analysis - almost all good traders know that it is extremely useful to keep a journal of all your trades and learn from past experience.
In any case, trading in financial markets is not as easy as it might first seem. It takes time to master any discipline or profession. Can you expect to be a good musician, doctor or engineer in one single year?
In addition to your natural period of study, trading is also a profession - unlike music, medicine, or law - in which you can lose money on any given day rather than making it. "Salary" is not guaranteed here.
Success is hard work. Some traders work without profit for years before finally getting back on their feet. That's why it's so important to learn from your mistakes, not to repeat them, and to become more successful.
You need to look back sometimes to see and realize how far you have gone. You can easily forget the progress you've made, especially when something hits your confidence. Knowing how far you've evolved often helps you rebuild your confidence before overcoming another barrier.
You will fail - it's unavoidable. It is no shame that everyone, even the most successful person sometimes makes bad decisions or loses. The ability to remain stable after a failure is a skill that many successful traders have learned. You need to overcome this and move on.

Suffered loss because of greed.

The most important thing to trade in the forex market is a trading strategy. Without a good trading strategy, you can not survive in this risky market.So, make a good plan and make money from this market

Good point. People forget that they how far they have come. Always nice to have the benefit of hindsight.

I agree with Doomseeker. I like forex because this market had helped me to learn how to keep my focus and how to analyse and learn from my mistakes. It has changed me also in my private and business life.

most people watch scammers on youtube, twitter and instagram too much. ict etc, colt mosdef, nicktrader, swag guy etc

Most traders lose their money because of their wrong decisions. Many traders can not make the best plan for them. many chooses wrong broker.

Two things I have learned. One is revenge trading. After a loss trade, to open many trades to recover it quickly. Second is not waiting enough to set up to come. It means sometimes I open trade to early in fear of losing an opportunity.

What I have learned from the forex market is that there is no space for emotions. If you can not control your emotions you have to face a great loss.

I think the hardest part of the forex is not able to control our emotions and because of emotion most of the traders lose their trades.