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painofhell  
#1 Posted : Tuesday, June 05, 2018 9:43:41 PM(UTC)
painofhell


Rank: Advanced Member

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Joined: 9/25/2016(UTC)
Posts: 1,381

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I am a great loser in forex trading because I don’t know much about the world of forex trading and still I entered into live trading with real money and I don’t want to get educated in forex and I only know to dream of getting profits faster and become rich through forex trading but not interested in getting the right knowledge though knowledge is power and knowing alone can help me avoid taking of wrong decisions but I always underestimate the power of knowledge of forex currency pairs and their correlations, strengths, value of economy of the countries and its effect on forex market and also I don’t know how to select the broker for trading forex because I don’t have any knowledge about regulation and all.

I am a great loser in forex trading because I don’t know the most important part of forex i.e., slippage which occurs during news releases and that can blow my account in seconds, though knowing details of slippage and being prepared for the same can save me from a disaster but I am not interested in all these and just love to gamble.

I am a great loser in forex trading because I don’t have patience as I want instant profits and get rich as soon as possible though consistently I can get profits and succeed in forex but I don’t want consistent slow profits though slowly I can compound my profits and become a successful trader and let my dream come true in this forex world but I can’t think that way.

I am a great loser in forex trading because I can’t accept that the market is open 24 hours and being a forex trader I sit idle and be happy with one or two trades open hence I enter and exit many times because I think this way I can earn faster though it’s impossible to trade forex blindly unless there is proper set up which increases the probability of positive results but I can’t control.

I am a great loser in forex trading because I don’t have any strategy which I tested by demo trading and all I know is only to predict and gamble though predicting without plan and strategy is gambling blindly as they are all numbers going up and down and I always loved lotteries hence I can’t plan forex trading though with proper planning and a sound strategy I can be less stressful and come out profitable without staying for hours near the platform and many times in a single hour troubling myself by getting nervous when graph goes negative and becoming happy when it goes positive but I don’t like planning I only like to jump and get lucky

I am a great loser in forex trading because till now I don’t know the value of leverage ,lot size and its harmful effects as I only know that leverage and lot size gives high profit which I always wanted as I am very greedy and I can’t control my greed hence I keep on overtrading with high leverage and lot size till I blow my account but I don’t want to control my emotions and keep the greed factor away from my trading and try to earn slowly by calculating my risks as compared to my capital but I don’t care as I only know to cry after losing.


I am a great loser in forex trading because I don’t like to take responsibilities of my own ways of trading as I only know to blame others, sometimes I blame the market ,sometimes I blame the broker, re-quote, slippage, etc but I never review my way of trading and my mistakes and above all I don’t want to understand where I went wrong and what was my mistake in a particular trade which lead to losses or blowing of my whole account as I can’t accept that the market is not my friend and will not support me or will have mercy on me if I am losing but still I can’t calculate my risks and plan for the worst though planning for the worst will keep me relaxed while trading in the market like forex.

I am a great loser in forex trading because I never took forex trading seriously and always considered forex as a game and play it like a game only, though forex trading needs seriousness from the moment one plans forex trading and getting into live account trading with real money in it but I can’t change my attitude because its online and I just need to login and start the game like play station or any other computer games and I don’t want to consider it as a serious matter and that its like any other trading offline where you need to dream, think, plan, imagine study, know ups and downs and act professionally to get your share from the market.

I am a great loser because I don’t know what capitalization means in forex world and I can’t understand that with less capital I can expect less and with more capital I can expect more but with lesser capital I always try to get the profit which well capitalized traders get, though the risk reward should be planned according to the capital but I can’t understand this simple logic as I know only to dream and expect unrealistic gains from this market.

I am a great loser because I give more importance to the profit potential of this forex market but never thought about the losses seriously though before calculating profit I must give more importance to the potential losses which will help me stay in the market for long and become profitable as this is the mindset which can help me avoid taking wrong decisions or decisions in hurry but I can’t think of losses and the reason is just because I like profits.

I am a great loser because after knowing everything I am not ready to correct my attitude and way of thinking and my perspective of forex trading and even after understanding the faults ,I can’t act in a disciplined manner and change my trading habits and hence I invite fear factor due to which I repeatedly make more mistakes before during and after the trading but I don’t want to understand that emotions like greed fear etc should be kept away which is only possible if I make of list of my mistakes and take total responsibility of my mistakes and consider changing my mindset and way of thinking and restart forex trading with proper planning and gaining as much knowledge and experience as possible.

Finally, I am a great loser because I only know what I need from the forex market but never thought of what forex market expects from me, though forex market responds positively to the disciplined traders but I cannot remain disciplined and do nothing though most of the times doing nothing and waiting alone is enough to get profits but now I must think and evaluate and understand why I am a great loser in forex trading and bring the change in my trading habits and mental behaviors and enlist my mistakes and correct them.

“If you have made mistakes, even serious ones, there is always another chance for you. What we call failure is not the falling down, but the staying down.” — Mary Pickford
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