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The 5 Phases of a Forex Trader

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  • #16
    Re: The 5 Phases of a Forex Trader

    Great post! Unfortunately, you need a decent amount of capital to be able to tolerate losses before the wins start happening. Also, I would like to know: When do you say enough is enough? There is no guarantee that a string of losses will eventually lead to wins, so I'm still struggling with this one.

    Good trading to all.

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    • #17
      Re: The 5 Phases of a Forex Trader

      Best thing i read so far, on any forum.

      Respect and kudos! Well said!

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      • #18
        Re: The 5 Phases of a Forex Trader

        arvacon, thanks for clarifying it.. hope that I will become a better trade as time goes by.

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        • #19
          Re: The 5 Phases of a Forex Trader

          "You may have initial success, and that’s even worse - cos it tells your brain that this really is simple and you start to risk more money.

          You try to turn around your losses by doubling up every time you trade. Sometimes you’ll get away with it but more often than not you will come away scathed and bruised You are totally oblivious to your incompetence at trading."

          Oh lord. This happened to me. I turned my 1000$ account into 2600$ in a week and then lost it all due to greed and poor risk management.

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          • #20
            Re: The 5 Phases of a Forex Trader

            Amazing article. I've known forex for 4 years now and recommend this article for any beginner. I also consider myself a beginner because didn't work on forex constantly.
            Every word of this article is absolute truth and should be highly noted.

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            • #21
              Re: The 5 Phases of a Forex Trader

              Is there a way to shorten the period of advancement from one stage to another?
              I will print this out and let it be my road map to trading Utopia........ Thanks.

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              • #22
                Re: The 5 Phases of a Forex Trader

                I have read so many books, but I have seen a traders life expressed so succintly. Thanks for taking the time out to write this.

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                • #23
                  Re: The 5 Phases of a Forex Trader

                  thank you indo-investasi... now i become a better trader...
                  Last edited by dr0o69; 07-08-10, 00:35.

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                  • #24
                    Re: The 5 Phases of a Forex Trader

                    Most trader doesn't reach step 2 and beyond. Even with good forex education that still doesn't work. Traders that passed step 5 are certainly not here

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                    • #25
                      Re: The 5 Phases of a Forex Trader

                      just keep learning with that goal in mind

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                      • #26
                        A pesar de lo que digan, operar divisas no hace que la gente se vuelva rica de la noche a la mañana, en el transcurso de la semana o incluso al mes siguiente. Saber la manera en la que funciona esta industria es absolutamente importante. >: D <

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                        • #27
                          "You’re a star in the trading chat room and people listen to what you say."

                          It's too much. What does the chat have to do with trading? Let people in the chat listen to anyone they want, this does not affect my trading. I do not trade for the sake of others' opinions, and not to listen to me.

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                          • #28
                            Thanks for this post. Keeps me motivated!

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                            • #29
                              "The 5 Phases of a Forex Trader"

                              Will this also work for CFD's, commodities and swaps?



                              An old thread but I could not resist

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                              • #30
                                Originally posted by moomic999 View Post
                                "The 5 Phases of a Forex Trader"

                                Will this also work for CFD's, commodities and swaps?



                                An old thread but I could not resist
                                What do you mean? You want to say that it is impossible to make profit with fx brokers?

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