Can a coward succeed in trading Forex

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This topic contains 1 reply, has 2 voices, and was last updated by  Bitcoin Fifty 11 months ago.

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    A coward can never trade the Forex market because even if there are profitable trade signals he or she would think twice to enter into it. The Singaporean traders are successful in trading as they knew that the being coward will not help. Although they feared to trade the market at first with the experience and practice they were able to get rid of it. There are some naïve traders who wouldn’t just take up the trade even though it clearly looks profitable. They think about what ‘if’ they lose which is not a sign of a good trader. Actually, there are many traders who do not want to enter into good trades due to the fear of losing. Do they not know that it will affect their account? Actually, it is a powerful feeling you will not be able to see the reality if you are afraid to trade.

    You would have read many articles which are mainly focused on controlling the emotions while trading. There are many successful traders who have achieved after controlling their emotions in trading. Among all the other emotions fear is the worst because it will not let you see the good and the bad clearly. You should not be a coward in the Forex market instead try to overcome it. You will be able to become brave as the successful traders. However, let us read the article for further information.

    First, you should accept
    You should not try to ignore the fact that you are scared of losses. You should not try to hide the fact that you are afraid of losing the online trading account. You should not try to run away from it. Actually, it can be quite depressing to know that you are afraid or you are being a coward but without accepting the real fact how can you overcome it? Even in life if hear something which we do not want to hear the first reaction we show is denial. Although deep down we know that it is stupid to deny since it’s crystal clear. The same reaction applies here most of the naïve traders try to avoid the fact that they are afraid of the market that at the end, they end up losing. If you accept the fact that you are afraid you will be able to take the necessary steps to overcome it.

    Second, give it a try
    The trade you enter into may turn out to be a profit or loss it does not matter but give it a try. You should not step back and watch the market instead of the market shows profitable trades you should go for it. You should make sure to calculate the risk-reward ratio. You should think about the stop-loss placement and the money management so if you are thorough on your side why you do have to fear the market?

    Thirdly, overcome the fear
    If you still don’t feel like trading the market out of fear you should try to overcome it. Actually, if you let the fear to rule you will never be able to become a successful trader. The Forex market is an uncertain market there is no counter argument for it so if you are playing role in such market you should make sure to be brave enough to face the risks.

    Confidence is the key
    When you chose to trade as your full-time profession you need to understand that confidence is the key ingredient to deal with all the obstacles in this industry. If you don’t believe in yourself then you will never become a profitable trader. You need to have the courage to execute quality trades in this market. It’s true that you will often have to face losing trades but this is completely normal. Learn to embrace the losing trades and wait patiently for the quality trade setups.


    Bitcoin Fifty

    Do you trade with Bitcoin and/or altcoins?

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