Challenges as a Forex Trader
- Thread starter PriceAction Ltd
- Start date
I think for me is emotion. I felt hurt when I used to lose trades when I started out.
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That'is about correct. Global interplay between nation state at one level with multinational corporations mixed it up, along calamitous events and the human factors make for a very dynamic system to engage. Rational reasoning works some of the time and EXPERIENCE fills some of the gaps to profits. It is one of the most unemotional jobs after you have done it for a while.
Akuma
It was quite hard for me to adapt to the ever changing market conditions. This sometimes also frustrated me while amending my trading strategies.
The biggest challenge is to find a profitable trading strategy. The Forex market is a dynamic market and you have to update strategies again & again because the market conditions change and strategies may or may not longer fit.
There are a lot of profitable trading strategies but you need to find one that is most suitable for your trading style the most. There's no need to change your trading style to follow a strategy. Money management is always very important as it prevents you from committing more than you can lose.
profitable trading strategy first of needed a perfect money management. otherwise this approach will not work.
Separating emotions from trading is the biggest struggle for me. It’s not easy to lose money. I guess you have to make it a part of the process.
what you think there is any difference between money and risk management ?