Synopsis E-book: Forex Trading for Frustrated Beginner
When I was starting out in Forex I reached a point where I started to think I knew what I as doing. Most of my trades would be profitable with only the occasional drawdown.
I didn’t realise it at the time but complacency was starting to creep into my trading. The more profitable trades I made the less choosy I was about picking those trades. Until one week it seemed every trade I put on was a loss! This caused me to think my original strategy must be wrong, although it had been profitable for a time. What I realised was that I had very subtly strayed from my original ideas. I hadn’t stuck to a plan. Mainly because I didn’t have a clearly defined plan written down, just a collection of ideas in my head!
Conversely, consistent winning can have an opposite effect on your trading. Just as losing can, winning can also make you afraid to place a trade. Although not trading is a much better financially stable place to be than in a losing trade, you won’t make any money if you are not trading. If I had a string of winning trades, then sometimes I would be hesitant in entering a trade because I didn’t want to see my new found ‘wonder’ strategy fail. Sorry to disappoint you but there is no ‘wonder’ strategy to be found in Forex, no strategy will win all the time but you can still be profitable. So how can you overcome this emotional side of trading? The answer is by having a trading plan.
Preview Forex Trading for Frustrated Beginner.pdf
Download E-book Forex Trading for Frustrated Beginner
- FileName: Forex Trading for Frustrated Beginner
- Author: Steve Farinello
- Language: English
- Size: 1.300 kb | Remove!
- FileType: .pdf
- Dir.: Part9