If The Way Of Thinking Is Still Like This, ‘Sorry’ Just Forget Forex Trading

Maybe someone has experienced these things and do not worry, it is one of the journeys that the majority of successful forex traders have gone through.

In fact, this is what will teach us a lot. Sometimes the forex teacher tells me not to do that, do not do this. But often ‘experience’ teaches us more things that we will never forget.

But sorry if I say this if you still have this mindset you are actually not ready to go to the next level in forex trading. Take a deep breath, calm your mind. Let's look at these five important things.



1. This time I want to profit everything I lost before this.

If you ever say this, you are on the wrong track to succeed in this field because this is like the mindset of a gambler.

And a trader like this is the opposite of a successful trader.

Trying to make as much profit as possible in a single trade is the reason many traders experience margin calls (mc). Most professional traders only risk 3-5% of their trade capital in each trade. There is more risk than that, but it must be with knowledge.

Remember if you risk 10% of your account capital, it only requires you to lose five times to lose 50% of all capital. And as always, when you can not control your emotions you will try to get a 100% profit in the next trade for break-even (return on capital).

What is best is..you need to reduce your losses because in forex trading we will still suffer losses.



2. Broker hit my stop loss

Cliché..cliche .. This is a statement we usually hear. Can a broker do that? There are cases like this, but not many.

Most brokers will not do this because if caught by the regulator, the bad effect will be big on the broker.

What happens is you set a strict stop-loss. Stoploss is too close, for example, the take-profit target is 100 pips but the SL set is 10 pips. Haha. I did get the answer.

Stop blaming others for your failures. Take responsibility and investigate where it went wrong.




3. I have lost 5 times in a row, so this time must be a big profit

This is the mindset of the gambler. If you say I am 'unlucky', in fact, that does not make sense. Have you ever lost up to 10 times in a row?

Of course, there are traders who have experienced this.

Worst of all, when you lose up like this, you still make the same mistake by risking more capital than you should. Indeed, the account should be destroyed if that is the case.

So don’t think you will make a lot of profit after that because you lose five times in a row. Because you may lose 10 times in a row.



4. Missed the bus, but can still get in here

Never did this. Haha, must ever? Example. You see there is a beautiful 'pinbar' at the top of the chart. The best pinbar is related to resistance.

But, apparently, you are too late to enter and the price has moved down at that time. But you still enter the position and enter the sell in the wrong place where the price turned back up and continued to break the resistance earlier and continue to rise.

Remember, there are many opportunities. Be patient there are other buses coming if we miss.



5. This is all because News broke the stop-loss

Not. All this is not because of the news. I don't want to blame the Forex factory. Bloomberg is everything.

All this because he is simple ... because you do not check News before entering a trade position.
Be honest with yourself, do not blame others.



Finally, good luck to you all.