What has been your biggest lesson as a Forex trader?

e_abrams

Active Trader
Dec 11, 2020
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I learned how to use stop loss properly after the above-mentioned past experiences. At least I did learn that lesson.
 

sunar14

Banned
Jan 17, 2021
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Mine was to stop chasing the money and focus more on myself as a trader by practicing things like discipline and growing my knowledge by reading books and articles, doing research online, etc. I'd say that this was quite helpful to me.
 

e_abrams

Active Trader
Dec 11, 2020
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The irony is, when one does that - focusing on learning and practising - they do the actually productive money chasing. Since this is what leads to profits, eventually.
 

Lacquer

Banned
Dec 13, 2021
18
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I used to open trades based on my emotions, but now, I trade after carrying out fundamental and technical analysis, which has helped me on most occasions. The lesson I’ve learned is, never trade emotionally, as it won’t bode well.
 

e_abrams

Active Trader
Dec 11, 2020
451
31
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How long did it take you to get there? It has been years for me and sometimes I still make mistakes due to anxiety, unfortunately.
 

sunar14

Banned
Jan 17, 2021
77
9
19
30
How long did it take you to get there? It has been years for me and sometimes I still make mistakes due to anxiety, unfortunately.
It took me 3 years to fully overcome emotions. Now I feel indifferent to up and down swings because I always know my loss in advance and prepared to that.
 

e_abrams

Active Trader
Dec 11, 2020
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Congratulations on your success!
You're definitely doing better than I am. I've kind of lost track how many years it has been for me - six or seven - but I still have anxiety.
 

Lewis Capaldi

Newbie
Jan 23, 2022
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Mine has been that when Forex Trading is approached as an investment, it gives better consistent profits. I refer to it as the power of compounding.
From my side, don’t follow the result, just follow the process! In my trading, currently I don’t focus on SL or TP! I always focus on my analysis! Since I know, it’s impossible to make 100% profit here! So, I don’t be a destructive guy after 1 or 2 SL, concentration is very important parameter here!