Forex Trading Success
Before setting your foot in forex trading, you have been warned that profit or loss is part of the game. In fact, you also need to know that there are more losers than winners. It never ends and continues. You have to educate yourself, learn everything and enter the market carefully.
Now, you will start to succeed: you win several trades and then win again.Indirectly your confidence will increase. Confidence is a great thing, but this should not be excessive. After achieving some success in trading , you will begin to feel that you are extraordinary. That’s when problems will begin.
Here are some things that will happen if you are too confident:
TAKING GREATER FOREX TRADING
When you have more money in your account, you can expand your position by making more money. Greed has begun to greet you. Well, is greater trading balanced with the size of your larger account? The answer is the possibility of what happens and you start taking risks with a larger portion than your account.So be careful before deciding to take bigger trades.
TAKE MORE FOREX TRADING
If trading makes money, more trading will make more money too. This opinion is not wrong, but you also have to remember that by investing more in trading, this also opens up your opportunity to lose more money. Benefits and risks will always be in harmony.
MOVING A STOP-LOSS POINT
With more cash in hand, you may feel that you have the capacity to conquer regulations. This carelessness can result in losses greater than the amount you invest. So before you go further because you feel you have succeeded beforehand, think about everything first.
FOREX TRADING AT CERTAIN HOURS
Why don’t you extend trading hours with proven success? You forget that your system may not fully work, you may feel tired or you will even lose touch in trading. All of these possibilities may arise given that a job as a trader is not an easy thing. Not only mentally but your physique is also depleted in this work. so before your confidence goes beyond the limits and makes you fall, you should think logically if you want to develop your investment. Try to trade in hours you have never done before.
IGNORE THE TRADING PLAN
To achieve success, you may feel that the system is not behind this success, but only you are behind it. So what’s good about a system when a trader is actually inside and you can win trading only with your ability? And also here, there is a road to a place with a shorter distance.
In conclusion, something flexible is indeed much preferred and easier to apply.But in trading, remember that you have a plan where the plan has been arranged in such a way as to help you win a trade.
So it’s better to achieve success that is very limited initially or even suffer some losses to avoid disasters that usually follow too early success.