There is no right or wrong in trading method, psychology or MM.
We are all different and are tuned quite differently to perform a similar task, making money in Forex.
I have blown countless accounts since 2008 where it all started, dive into various EA, coding, MM, trading methods.
2 things I learn so far,
1) Never think you know where the market goes. We are not even a mere droplet in the ocean. If you can see strong movement, go for it. I personally don't go for those hundred pips trades over few days or weeks. I normally day trade and follow whatever PA tells me to.
2) When to end a trade or stop trading. I am sure so often we curse when we take profit and the PA continues another 40-60%. Or when we are on a run and believe today is the day we conquer the market and ended up losing (gambling in casino). Take every TP as a proof you did it and wait for the next opportunity, sames goes for every losing trade.
Trading psychology as well as financial stability plays a BIG BIG part to succeed. If you are trading with money you can't afford to lose, it eats into you with every losing trade.
My suggestion is to take it slowly and have a plan what you want to achieve and time frame to achieve it.
Today, I am taking profit from the market but I am still doing a day job because I have yet to attain enough capital and overcome my psychological weakness. It is importantly to know both your strength and weakness to make it.
No matter how small a step you make, you need to keep moving forward.
We are all different and are tuned quite differently to perform a similar task, making money in Forex.
I have blown countless accounts since 2008 where it all started, dive into various EA, coding, MM, trading methods.
2 things I learn so far,
1) Never think you know where the market goes. We are not even a mere droplet in the ocean. If you can see strong movement, go for it. I personally don't go for those hundred pips trades over few days or weeks. I normally day trade and follow whatever PA tells me to.
2) When to end a trade or stop trading. I am sure so often we curse when we take profit and the PA continues another 40-60%. Or when we are on a run and believe today is the day we conquer the market and ended up losing (gambling in casino). Take every TP as a proof you did it and wait for the next opportunity, sames goes for every losing trade.
Trading psychology as well as financial stability plays a BIG BIG part to succeed. If you are trading with money you can't afford to lose, it eats into you with every losing trade.
My suggestion is to take it slowly and have a plan what you want to achieve and time frame to achieve it.
Today, I am taking profit from the market but I am still doing a day job because I have yet to attain enough capital and overcome my psychological weakness. It is importantly to know both your strength and weakness to make it.
No matter how small a step you make, you need to keep moving forward.
