Topic: The weakest factors in your trading career (Read 105 times)
There are so many things happening in the Crypto space right now that for myself it's just hard to get into a routine and a discipline, as trading requires a lot of focus, a calm mind and discipline. Especially being a woman in a traditional family setting, where you need to cook and clean and do other household chores lol, every time getting distracted by home stuff, makes my little brain retract from the tasks in hand. Also I am finding trading with btc extra difficult because of the very high transfer fees.
1. Easily distracted: People often tend to play computer games, watch movies, hang out with friends and skip good conditions for trading.
2. Lack of dedication: There are weeks when people trade, but there are times when people just can not get together and spend time fooling around. And if it lasts too long they get out of shape and have to spend a lot of time and energy to get into the working rhythm again.
3. Vindictiveness and the inclination to get angry: If the market does not go in the right direction, people can get very angry and take revenge from the market. Such positions most often do not work and cause losses to their account.
Good, successful traders know their weaknesses. Therefore, if you really want to succeed on Forex, simplify your task and find out your weaknesses.
2. Lack of dedication: There are weeks when people trade, but there are times when people just can not get together and spend time fooling around. And if it lasts too long they get out of shape and have to spend a lot of time and energy to get into the working rhythm again.
3. Vindictiveness and the inclination to get angry: If the market does not go in the right direction, people can get very angry and take revenge from the market. Such positions most often do not work and cause losses to their account.
Good, successful traders know their weaknesses. Therefore, if you really want to succeed on Forex, simplify your task and find out your weaknesses.
Traders are very hard to understand. They are making wonderful trades and they are also losing money. They are making a great comeback in Forex and they are also losing their account. If you look at this investment market, you will find that this is the only market where all types of traders’ trade. All these traders have one goal in common and that is to make money. If you can make money in Forex, you are successful and respected in the trader’s community. If you cannot make money in this industry, you have to stop trading and start looking for other markets.
Among all of these workings, trading and illusions, the weakest link in your career are never revealed to you. We are busy with the trading strategy and analysis that we have no time to care for ourselves. We do not know that the powerful thing that we are searching for our whole life in the universe lives within us and the weakest links we always try to find among others also have within us. If we can know our weakest links and try to perfect it, we can be the next professional traders in Forex.
Lack of knowledge
Knowledge is the key to success in the Forex market. Many retail traders don’t give enough importance to their trading knowledge thus lose a huge amount of money in the Forex industry. If you ever get any chance to meet with the professional traders at Saxo then ask them how they are making tons of money by trading. Every single one of them will answer that strict discipline and proper trading knowledge is the key to success. Being new to this market it will be really hard to understand all the trading parameters but if you work hard then it’s just a matter of time to master the art of trading.
Maintain a trading journal
Maintaining a trading journal is very crucial to your success. It’s very normal that you will make many mistakes even after spotting the perfect signal in your online trading platform. But the majority of the traders don’t learn anything from their mistakes. Unlike the new traders, the expert traders always maintain a trading journal so that they can easily learn from their mistakes.
Human ego is the weakest link in Forex career
You will find that all the traders in Forex have the ego. They have a high level of ego and they cannot think they have done this wrong. Egoism in Forex traders can be seen in Forex male traders. Male traders are very much hard working and they sometimes do not know if they are working for the right goals. If your goal is to run and you are working on building your body, this is useless.
If you know that you have mistaken in your strategy and do not perfect it, it is your ego that is stopping you from doing it. Many traders know they are doing it wrong but do not perfect it for their ego. Your ego cannot help you to win a war of guns with butter. Never mind the ego and do what you have to do. This correction of the weakest link in your nature will make you a great trader. Most people are searching for their strategy development and analysis help when they need help with their own. They do not believe it after it had been told to them. Their ego is the biggest enemy of their career. When you know your weakest link, you will know how many chances you are missing for this ego.
Patience is also the weakest link
Most traders are impatient in Forex. If you are not patient, you will lose many winning trades. You need to develop your patience in Forex. It is also your weak link that you need to perfect in your trading career.
Among all of these workings, trading and illusions, the weakest link in your career are never revealed to you. We are busy with the trading strategy and analysis that we have no time to care for ourselves. We do not know that the powerful thing that we are searching for our whole life in the universe lives within us and the weakest links we always try to find among others also have within us. If we can know our weakest links and try to perfect it, we can be the next professional traders in Forex.
Lack of knowledge
Knowledge is the key to success in the Forex market. Many retail traders don’t give enough importance to their trading knowledge thus lose a huge amount of money in the Forex industry. If you ever get any chance to meet with the professional traders at Saxo then ask them how they are making tons of money by trading. Every single one of them will answer that strict discipline and proper trading knowledge is the key to success. Being new to this market it will be really hard to understand all the trading parameters but if you work hard then it’s just a matter of time to master the art of trading.
Maintain a trading journal
Maintaining a trading journal is very crucial to your success. It’s very normal that you will make many mistakes even after spotting the perfect signal in your online trading platform. But the majority of the traders don’t learn anything from their mistakes. Unlike the new traders, the expert traders always maintain a trading journal so that they can easily learn from their mistakes.
Human ego is the weakest link in Forex career
You will find that all the traders in Forex have the ego. They have a high level of ego and they cannot think they have done this wrong. Egoism in Forex traders can be seen in Forex male traders. Male traders are very much hard working and they sometimes do not know if they are working for the right goals. If your goal is to run and you are working on building your body, this is useless.
If you know that you have mistaken in your strategy and do not perfect it, it is your ego that is stopping you from doing it. Many traders know they are doing it wrong but do not perfect it for their ego. Your ego cannot help you to win a war of guns with butter. Never mind the ego and do what you have to do. This correction of the weakest link in your nature will make you a great trader. Most people are searching for their strategy development and analysis help when they need help with their own. They do not believe it after it had been told to them. Their ego is the biggest enemy of their career. When you know your weakest link, you will know how many chances you are missing for this ego.
Patience is also the weakest link
Most traders are impatient in Forex. If you are not patient, you will lose many winning trades. You need to develop your patience in Forex. It is also your weak link that you need to perfect in your trading career.
Jump to: