The Beauty of Trading

ituglobal

Master Trader
Apr 17, 2013
468
20
59
“You do not need a PhD in math or physics to be successful in the stock market, just the right knowledge, a good work ethic, and discipline.” – Mark Minervini

Imagine. There’s someone who borrowed a total of $13 million to make a movie. She’s a credit officer at a big financial institution who’s helped many candidates secure loans to finance their ambitions. She herself was unable to get a loan to finance the production of her movie. In fact, it took her more than 6 years to get money to produce her movie. After going to the States to learn how to direct movies, she’d to sell all her property and borrow money from some friends and banks, before they could get the needed $13 million to finance the movie. The movie could’ve been a crashing failure, but fortunately, it was a roaring success. This courageous woman took a great risk.

Can you see the length people can go in order to achieve their dreams? The risk I take as a trader is even far less than this, with the assurance that my possibility of success is high because I’m a veteran trader.

Have you been touched by sadness in trading? You might feel that’s a problem without solution. But there’s a solution – namely, the necessary mindset and principles that are necessary for your happiness. A losing period is a terrible problem, but there are wonderful solutions to that.

If people discourage you, you could begin to think that the sacrifices you make in your trading career aren’t worthwhile or that you can’t attain permanent success. Since we’re surrounded by people that don’t understand the truth about trading, we must strive to keep our focus on the ultimate goals.

If You Can Draw a Straight Line, You Can Become a Successful Trader
This subheading was taken from one of the titles written by DbPhoenix of Trade2win.com. Contrary to what most people tend to think, you can become a permanently successful trader if you’ve a positive expectancy methodology and a winning attitude.

The road to profitability is to think positively and take steps. This doesn’t mean that your steps would often lead to what you want. There are times when you’ll feel that you can’t become a winning speculator. You can even contemplate quitting. I know this. It’s happened to me. There were times when I was discouraged by poor trading results and I thought of abandoning my trading career.

Nonetheless, I was aware of the potency of perseverance, and so, I didn’t quit. After many years of grappling with the markets, I’m eventually able to make money in the markets, surviving trendless and choppy periods and moving smoothly ahead when the markets trend strongly. I’m now able to keep my funds safe despite the vagaries of the markets. Sometimes, I make more than I even anticipate in a month.

The Providence used Forex to remove me from poverty and launch me onto my way to financial freedom.

Conclusion: Like the veterans of the markets, we don’t feel that the years we spend trying to bring our best trading self are a waste of time. Rather, we’re sure that the challenges are transitory and the rewards are permanent. I think of someone like Adam Jowett, who’s an entrepreneur and a developer who trades anywhere possible, like in the toilet, in the bus and in his garage. I know another trader who travels worldwide and trades on the go, raking in lots of money in the process.

This piece is ended by the quote below:

“Learning by trading may be the school of hard knocks, but in the end that is the best school you can attend. Just keep standing up over and over again, until you learn how to profit. Until that point, trade small and make sure to stay in the game. Make sure you will still be there once the profits arrive. And do not forget to enjoy the ride.” – Marko Graenitz
 

radex78

Active Trader
Nov 15, 2015
670
17
34
41
Forex trading is like as challenge business, which required good courage to start trading, many strategy and methodology trading in forex like as the art business in big game, market forex very fierce and no mercy, but still many trader tempted to joined.
 

Lawrence

Active Trader
Aug 20, 2015
169
7
34
Forex trading is like as challenge business, which required good courage to start trading, many strategy and methodology trading in forex like as the art business in big game, market forex very fierce and no mercy, but still many trader tempted to joined.
In the business of Forex trading we have many issues which we need to look and the main is which type of trading strategy we are using and how we would be able to benefit from using that in our trading :)
 

fxapex

Active Trader
Jun 7, 2013
258
7
29
In the business of Forex trading we have many issues which we need to look and the main is which type of trading strategy we are using and how we would be able to benefit from using that in our trading :)
yes it is also very important to identify our strength and weakness and make strategies accordingly.
 

radex78

Active Trader
Nov 15, 2015
670
17
34
41
yes it is also very important to identify our strength and weakness and make strategies accordingly.
Yes with recognized our mistake which we get weakness the cause of loss, hence we wil trying to overcome these mistake, if we think our weakness on emotion control, for future we learn to keep control emotion with better than before, improving skill will never end along we still treat forex as our business.
 

Lawrence

Active Trader
Aug 20, 2015
169
7
34
Yes with recognized our mistake which we get weakness the cause of loss, hence we wil trying to overcome these mistake, if we think our weakness on emotion control, for future we learn to keep control emotion with better than before, improving skill will never end along we still treat forex as our business.
As a Forex traders we all tend to make some or the other mistakes in our trades. Now the main question that is really important for us is to understand how the news is going to impact us and what will be the methods we are going to track them down :)
 

radex78

Active Trader
Nov 15, 2015
670
17
34
41
As a Forex traders we all tend to make some or the other mistakes in our trades. Now the main question that is really important for us is to understand how the news is going to impact us and what will be the methods we are going to track them down :)
Maybe not all trader will use fundamental analysis as trigger, but reading news also important for technical trader because often news high impact influenced to currency which news high impact like as nfp, fomc considered as news that often affected to currency instantly
 

Jack72

Trader
Jan 11, 2016
15
0
6
47
United States
Nice thread! I think a lot of traders fail, because they lack to follow simple rules which is mainly caused by the lack of discipline.
 

Jack72

Trader
Jan 11, 2016
15
0
6
47
United States
I usually work to avoid major news announcements, however, I am well read for the instruments that I trade.
It makes sense! I'm also avoiding major news announcements, but sometimes I leave some trades in and if they are on profit I just set my stops at break even.
 

radex78

Active Trader
Nov 15, 2015
670
17
34
41
Nice thread! I think a lot of traders fail, because they lack to follow simple rules which is mainly caused by the lack of discipline.
INdeed we often hear if many trader get fail in forex business, and of course this failure also has certain reason, maybe trader lack in knolwedge and experience, they can't keep discipline with rules trading and also money management, but also because they often rush in trading and only tempted by price movement.
 

Lawrence

Active Trader
Aug 20, 2015
169
7
34
INdeed we often hear if many trader get fail in forex business, and of course this failure also has certain reason, maybe trader lack in knolwedge and experience, they can't keep discipline with rules trading and also money management, but also because they often rush in trading and only tempted by price movement.
There are many types of traders who do not have any idea of how they can do their trading and this is why they will fail because they do not have any trading plan and they are not giving time to this business :)
 

Andrew101

Active Trader
Oct 3, 2016
199
9
34
40
Manchester
We all need to open our eyes and minds to the limitless possibilities Forex trade has to offer. Yes, it is risky at times, but we must also know that everything you want is on the other side of fear. When you give up, that is the only sure way to fail. Successful traders are not afraid of losing. But losers are. Traders who try to avoid failure also avoid success.
 

Ary Barroso

Active Trader
Jul 9, 2017
896
58
39
31
Well said; really, there is no need traditional educational degree or anything like this. Only trading knowledge is the key! But without proper knowledge, it’s quite impossible to make money in this financial sector.
 

Baazex

Trader
Oct 28, 2019
53
1
14
21
The good thing about forex business is that its an international ground , and it depends how do you participate in it.It depends how you plan your trade and how you implement with patience and continueity once you learn the trade technical moves and risk management you will start earning and enjoy the financial freedom.
 

DT77

Active Trader
Feb 24, 2019
263
27
34
51
Anyone can do it if they get their head down and are willing to learn
 

Momand

Trader
Oct 29, 2019
9
0
7
32
I will agree that trading is a real art, which has many facets and features. You have to study it as long as you plan to work in this business and reach any heights. You can't hope that you will choose one direction and it will bring you money all the time. Only training and development will turn you from an ordinary trader into a real professional, who feels and understands the market. And what a pleasure it is to see that some of your theories have worked and started to help you get more. Here, trading can be compared even with the science in which you are a real inventor and experimenter with big ambitions.
 

Starstaff

Trader
Nov 9, 2019
9
3
9
24
At first it seems like you're the smartest and fastest to make a fortune. Then - or frustration if you don't learn to control yourself or sobering up (start learning). With the first conscious success it starts to seem that the charts are beautiful in their own way, and the growing profits on the account increases this feeling. As time goes by, sentiment dulls, and this is the right thing to do - business as a business that requires certain skills and strict compliance with its own trading rules. In the end, any money-making activity becomes a routine. Of course, in many ways it can be called art, because in order to develop unique strategies, you need to think outside the box.
 
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Ary Barroso

Active Trader
Jul 9, 2017
896
58
39
31
I will agree that trading is a real art, which has many facets and features. You have to study it as long as you plan to work in this business and reach any heights. You can't hope that you will choose one direction and it will bring you money all the time. Only training and development will turn you from an ordinary trader into a real professional, who feels and understands the market. And what a pleasure it is to see that some of your theories have worked and started to help you get more. Here, trading can be compared even with the science in which you are a real inventor and experimenter with big ambitions.
Couldn’t agree more! Knowledge is the powerhouse here! So, new traders need to focus on learning, instead of focusing on others tool or signal.