It's not so much as early success is a bad thing, but success without understanding it is a recipe for disaster..
Early success in forex is worse than early failure
- Thread starter Rambo35
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It's not so much as early success is a bad thing, but success without understanding it is a recipe for disaster..
Early success in forex can be bad if trader is overconfident. He thinks Now his learning is complete and perfect . He not do more struggle this thing block his improvement . When you are succeeded after some struggle you know the importance of continuous learning.
Sometime early success at first time trade in real account for beginner they will over confident, and this is one mistake I think, ever I hear certain trader they can easily make first profit and then add new capital with hope gain more with increasing lot size, but what happen is he faced losing all profit and money.
As a trader we have to remain confident in our trading and whenever we are confident as a trader then we can increase our net earnings from the business and also gain good profits
Indeed as trader they need confidence with their trading skill, because with confidence will making them more discipline to implemented their plan trading and with their experience might can making profitable trading,but don't become over confident, this also as bad emotion which often leading to become greedy.As a trader we have to remain confident in our trading and whenever we are confident as a trader then we can increase our net earnings from the business and also gain good profits
Sometime as beginner they become over confident after first time trading they can making good profit from their trades, often I am hear beginner they felt over confident and leading them to add with new deposit with expectation will get more profit, but what happen is opposite from expectation they get lose all money and profit.
We know that making profits in our trades is not an easy thing at all, and there are a lot of problems in trading when we do not know the trends or the direction of the markets
Yes this is most dificulties many trader how to analyze the trend market with accurate, but if we can analyse the trend market with high accurate it's already enough as long as we can making more winning trades than loss trades, depending us want to play as short term trading or long term trading we chose that make us comfortable.We know that making profits in our trades is not an easy thing at all, and there are a lot of problems in trading when we do not know the trends or the direction of the markets
How can we predict the market precisely? Sometimes I find the fundamental analysis go in reverse with technical analysis and I don't know which way I should go
I would say that if we will plan our trading well then we can get such kind of trading opportunities that will give us profits. The most important analysis we will have to learn to know the direction of the movements in the Forex is the Fundamentals
I think we should balance those two cause some time investors just react to the news too fast which make the price violates violently but then bounces back once it reaches a support/resistance level
I have seen according to my trading experience that by and large traders fall a great loss due to having a tendency to earn money very rapidly from this market place without learning. actually, by passing a long time we have to acquire most powerful analyzing trade knowledge which is mainly considered the key to success in this market place.
there is some truth to the statement, if the traders tend to be over confident, all over the internet you will see people talking about consistency, and i just hope that its an enough reminder that traders/newbies would focus more on trading and making a consistent profit than simply trying to make money. i started with a second broker called lmfx and im keeping it low, micro lots small account focusing more on consistency than simply making thousands of dollars, its a long run thingy and more like practice and a way of life.
I think that it does not matter that the trader lucky in the beginning or not. The main thing that He should not be relaxed and never ceased to evolve.
Yes in forex not always as trader have accurate analysis and making profit, but if these trader already have small profit reguoarly it's already become good result than loss, have more winning trades and look equity more profit is good already and making happy
Right! It is much better to have a steady income than today earn 300%, but lose everything tomorrow
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