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Thread: Words of Wisdom

  1. #1
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    Cool Words of Wisdom

    I've been trading now for 3yrs and in the last 8 months I have been able to break even and the last 4 months I have been profitable. One thing I noticed was the way I traded and the way many trade is that we are looking to make thousands of dollars in weeks if not months. I came to the realization that the possibility of that happening was slim to none due to my own inclinations, thought process, and unpredictability of the market. Now for all you noobs this is paramount because unless you change the way you see forex you will always fail. One thing that is needed for all traders is patience, patience, patience, if one exercises patience good results will go a long ways. Find a method that works on a hour or 4 hour chart master it and you will see great results don't try to catch every move in the market. And second learn to trade manually before using an Expert Adviser. I have blown more demo accounts with EA's than I did manual trading, that holy grail your looking for is in you and you have to find it. I can almost guarantee that you can break even if you change your thought process when it comes to forex. Don't believe that you can make over $10,000 in one month on a $300 dollar account, not saying it can happen but highly unlikely that it will. Trading should be fun and seen as a business or a hobby something that you will enjoy doing not something your trying to pickup to make extra money. And you should always expect to loose, even businesses expect to loose money and in fact they expect to loose a lot of money. The question is how much, and how do you manage your loses. How you manage your losses will determine how profitable you will be. Some may read this and be lost but I am just sharing a little bit of what I learned as I trade using forex. I hope all will have many green pips.

  2. The Following 8 Users Say Thank You to mackphatt For This Useful Post:

  3. #2
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    Mackphatt, good words of wisdom. If only every new person to FOREX takes what you have to say as Gospel, then they will be ahead of others and make money... Nice Post.

  4. #3
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    Waking up in the morning, open the "Forbes" and check - do you see your name there? No? Then quickly go to the job

  5. #4
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    Quote Originally Posted by Klimov View Post
    Waking up in the morning, open the "Forbes" and check - do you see your name there? No? Then quickly go to the job
    That's right! Even if your job is trading and you as a newbie want to make 100% profit per day. Just work hard and you will succeed.

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