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Forex success reddit
dont allow the money to be your sole reason for trading. Also - be aware that r/ forex is not your trading journal. Those behind the strategy that produces a supposed 98 win rate know this and exploit it to make money. If you need the money from trading to pay bills, odds are that youll feel pressured to win. Dont get me wrong, nobody likes to see a trade go against them. Barron's 2016 Online-Broker Review, should I invest a lump-sum, or wait? Becoming a successful Forex trader is a marathon, not a sprint. However he made his millions as a retail trader.
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This sub deals with fiat currencies backed by governments. Or were you more focused on the number of pips and the percentage of your account at risk? I would immediately start going through all my charts looking for a new setup. These are all things that make up your trading edge. I dont care if youve been trading for one month or ten years, making money is much more enjoyable than losing money. Obviously 2 of 5,000 is 100.
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So it just makes sense to take a breather until then. As counter-intuitive as it may seem, learning to not try as hard was one of the things that completely changed my trading career for the better. The successful Forex trader knows this, and has learned how to control these emotions. So what exactly is an edge and why is it important? Its a combination of the time frame you trade, the price action strategies you use, the key levels youve identified, your risk to reward ratio, etc. From Experience One thing Ive found helpful after a trade is to close my trading platform until the day closes at 5 buy automated trade forex pm New York time.
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