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.
Last edited:
//---consistent profits.
Definitely risk management, and in turn - not letting my emotions get in the way of making sensible rational decisions with respects of the market.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.
If we are doing our trades with the proper use of the Stop Loss then we would be able to reduce the losses in our trading accounts. This is one of the major factor that will decide whether we are going to get success in the Forex trading or not.The one i learnt is ALWAYS USE STOP LOSS!)))
Agree! Also money-manegement is crucial. For instance - calculating daily/weekly risk%If we are doing our trades with the proper use of the Stop Loss then we would be able to reduce the losses in our trading accounts. This is one of the major factor that will decide whether we are going to get success in the Forex trading or not.
Yes. Stop loss and trading plan both are crucial from trading point of view.A perfect trading plan before trading, practice regular and never trade without stop loss.
That's correct . Protecting your money is the only way to succeed in this market.Be a defensive-minded trader. The famous quote by Warren Buffet about losing money goes something like this:
“Rule #1, Never lose money. Rule #2, never forget rule number one”.
Beginning traders often approach the market from the completely wrong mindset. They are just trying to make money as fast as possible when in reality, they should be trying to protect their money as much as possible. You really cannot operate in both mental states at the same time. You have to pick between the two and if you do not choose to protect your money as much as possible, you’re probably going to lose it.