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  1. #1
    Senior Trader
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    Focus on your process, not on your result!

    When people get interested in Forex trading, most of the time they start their learning process by focusing their trading results! Generally, they face huge losses in their beginning stage of learning, as a result, only 7% Forex traders remain after 5 years in Forex! In addition, more than 80% left Forex in the first 2 years! But interestingly, all the Forex traders start their trading with the dream to get rich quickly!

    Expecting huge profits is nothing wrong actually! But, you need to wait for certain period of time until you have good trading skill! Usually, new Forex traders start their trading with a small trading capital, but they expect hundreds and thousands dollar without proper learning! This unrealistic goal quickly leads to account crashing!

    Learning is the most critical part here, you need to focus on only your process not on your initial trading result! In addition, use your demo account with small virtual capital! This habit may help you to use small trading lot size in your real trading!

  2. #2
    Super Moderator
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    Quote Originally Posted by Marcus Reilly View Post
    When people get interested in Forex trading, most of the time they start their learning process by focusing their trading results! Generally, they face huge losses in their beginning stage of learning, as a result, only 7% Forex traders remain after 5 years in Forex! In addition, more than 80% left Forex in the first 2 years! But interestingly, all the Forex traders start their trading with the dream to get rich quickly!

    Expecting huge profits is nothing wrong actually! But, you need to wait for certain period of time until you have good trading skill! Usually, new Forex traders start their trading with a small trading capital, but they expect hundreds and thousands dollar without proper learning! This unrealistic goal quickly leads to account crashing!

    Learning is the most critical part here, you need to focus on only your process not on your initial trading result! In addition, use your demo account with small virtual capital! This habit may help you to use small trading lot size in your real trading!
    Nice description! Really, maximum new Forex traders start their trading with a huge anticipation! Because, it looks very easy to make money from Forex! As you said, a number of Forex traders leave their trading within first 2 years! On the other hand, its not easy to focus on only learning process without result, emotion is very common factor to human being! In addition, new Forex traders don’t know, how to control emotions during trading sessions!

  3. #3
    Senior Trader
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    Quote Originally Posted by Steve nison View Post
    Nice description! Really, maximum new Forex traders start their trading with a huge anticipation! Because, it looks very easy to make money from Forex! As you said, a number of Forex traders leave their trading within first 2 years! On the other hand, its not easy to focus on only learning process without result, emotion is very common factor to human being! In addition, new Forex traders don’t know, how to control emotions during trading sessions!
    In order to my personal trading experience, having particular daily and weekly trading targets are mainly responsible for making unrealistic goals! Like, if you have 3% weekly trading target, that means you may try to make this % within that particular week whatever good entry point is available or not! So, monetary goals are the worst thing in trading!

  4. #4
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    Well, you can’t control market price but you can control here your greed-emotions, your feelings towards the outcome and your learning process! Basically, non-professional Forex traders mainly focus on their outcome! In addition, when they lose any trade position, then they make it as a bad trade! ON the other hand when they win any trade position, then they might be indicate it as a great trade! But they never try to learn from their trading mistakes!

  5. #5
    Senior Trader
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    This is obviously important for new Forex traders to start their demo session with a small trading capital! It is very easy to get demoralized for new Forex traders if they are unable to make the level of success that they are looking for! Whatever, you need to monitor your progress very sincerely! But, don’t try to be a professional Forex trader within one year! It is unrealistic to believe that you can become a professional Forex trader within 1 or two years! Take a long breath!

  6. #6
    Trader
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    To be honest, I don’t think one could have explained it better than you! Thank you very much for your outstanding contribution! Actually, Forex is not any automatic money making process! Where we come and win, success is not available here but not impossible actually! In my demo account, I lost my learning concentration for many times, but I didn’t lose my hope, I came back strongly with a small break! Thus I restart my learning process!

 

 

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