zadoc robinson is an aspiring forex trader and educator.
When you enter the currency trading arena get ready for war. In order to win this war, your armor will need to consist of knowledge, skill and experience. If you come to war without these weapons, prepare to be vanquished! How to win the war in the currency trading? It is simple to answer that question, based on the above approach – prepare yourself for the war. The worst thing you can do is treat this business as a hobby causing you to lose an enormous amount of money.
The proper approach to currency trading is to consider each pressing of the Buy/Sell button as entering a war zone. If you enter it without having the knowledge, skill, and experience on how to be triumphant, failing is inevitable. You may have some lucky trades initially, however, for the currency trading tyro that can be very misleading. Experiencing the bad trades, will allow you to become a better trader. Also, just because you've done well with a demo account, don't think that success will translate over to the real account. Because you have no idea of the forces ruling in the real market.
In fact , you are going to be your worst adversary. That enemy is so powerful that you will be amazed how quickly it will wash away all your carefully considered decision. No one has been able to bypass the force of that deleterious power. No one can comprehend or realize that force unless it has been confronted face to face. Start forex trading with real money and you will face it too. Fear, acquisitiveness, or hope are associated with that power.
Fear forces you to sell near the bottom and buy near the top of the trade. Acquisitiveness forces you to exit the market too early. Hope will keep in the trade until you loose everything. Fear may save you, however, hope may wreck you completely. Being acquisitive will never make you affluent in currency trading. Anyone can give sound advice on trading without emotions and employing logic only. But without you being in the trenches, its impossible to achieve. It's imperative that you go through that turmoil, pick up your loses due to your emotional decisions and than evaluate.
Study all your “bad” trades, because they are the most precious gifts on the way to mastering and winning the war in currency trading. Growing as an experienced trader is possible only after getting your losses in the beginning. Then prudently study the lessons they brought to you.
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