Change Settings What are Cookies? Cookies are small data files. When you visit a website, the website sends the cookie to your computer.
There are a lot of people who have spent several years to learn forex. They have tried so many systems and strategies but they still lose. They have had several good systems but they have not been able to make those systems work and make money for them.
They know much more than what they should know to be a profitable trader, but they still read and learn more and more and still they think that they have not learned enough.
GREED is the most important reason of their failure. They have not been able to become a profitable forex trader because they are greedy. Because they are not even aware of their greed. Greed is a normal emotion that everybody has.
If you have not been greedy so far and if you think you are not greedy, just trade forex and see how greedy you are.
Everybody likes to work less and make more. I say you are not able to control your greed. Because everybody is greedy. The difference is some people are able to control their greed and some people are not.
Then I will tell you what to do to become able to control your greed and become a profitable forex trader. Please read the below paragraphs to see what made me talk about greed: Last Friday the daily candlesticks had formed a very strong sell signal with several currency pairs including NZD-USD which had the best trade setup, but unfortunately market was opened on Sunday afternoon with a big gap, almost in all of the currency pairs that had already formed a trade setup.
Usually when market opens with a gap, it is used to go against the gap direction and fill it because those traders who already had a position from the last week, when they see they are in a big profit because of the gap, they get overwhelmed and close their positions to collect their profit and so price goes to the other direction right after the market open.
In these cases, I just call it bad luck and then forget about it and wait for another trade setup. I never enter if I am late. If I can enter on time and with the price that I should enter, I do it, otherwise I ignore the trade. This is a very important aspect of discipline that a trader should have.
Our greed pushes us to enter even when it is too late. I know it is a pain to see a good and a strong trade setup runs away from you while you are not on board, but this is part of the game too.
We can not catch all the movements. I read somewhere that a trader said he preferred to be late than wrong. But I think being late can be as risky as being wrong. So I prefer to be right and on time than wrong or late.
Maybe many of you, have been trying forex for several months or even a few or few years but have not been profitable so far. You make some profit every now and then and lose it with some bad trades.
Let me share a million dollar secret now. It is the right time to do it. You will become profitable only when you become able to control your greed. If you review your memory, you will see that most of the bad positions you have taken are because you have not picked a strong signal or because you had missed a strong signal but you pushed yourself to enter and make some profit and get out.
But they went against you right after you entered. Maybe they have been waiting for you to enter to change their direction. Sometimes it really looks like that a position has been waiting for you to enter and right when you clicked on buy or sell button, it changed its direction.
Learn more about Schwab’s trading tools and services for online stock trading, including trading specialists that provide market trading help and support. I don’t know how long you have been trading forex, but you can be among those traders who have been trying to make a living or at least a supplementary income through forex trading, but have not been successful so far. There are a lot of people who have spent several years to learn forex. A trading platform for online trading and investments from the broker Olymp Trade. Start earning money with millions of traders worldwide!
It is because you are late or you have picked a poor signal. Being late or picking a poor signal is because of nothing but greed. You can not ignore the money that it might make for you.
So you take it. When it comes to trading, everybody becomes greedy. I am not criticizing you. I knew myself as someone who could be everything but greedy. But when I started trading, I discovered my greed.
It is hard to know it first.Trade Futures, Forex & Gold with Phillip Futures. For over 30 years, we are your one-stop access with wide range of trading platforms and mobile apps. Nov 13, · How to Trade Forex. In this Article: Article Summary Learning Forex Trading Basics Opening an Online Forex Brokerage Account Starting Trading Community Q&A Trading foreign exchange on the currency market, also called trading forex, can be .
Many binary options and Forex brokers have enticing trading platforms in addition to a horde of fabulous attractions for their traders. With this in mind, many traders are wondering whether it is okay to just invest in any binary options or Forex broker.
Download the Forex Strategies Guide eBook. Over pages of Forex basics and 20+ Forex strategies for conquering the hours-a-day Forex market. The Forex Strategies Guide for Day and Swing Traders eBook. By Cory Mitchell, CMT. plombier-nemours.com offers forex and CFD trading with award winning trading platforms, tight spreads, quality executions and 24 hour live support.
Forex, cfd trading on stocks, stock indices, oil and gold on MT4 and MT5. Trade forex online with XM™, a licensed forex broker.