Forex is a game of strategies, so if my current strategy is not yielding any profits, I start creating a new strategy. There is no point in feeling low because it won’t have any benefit for me as a trader. So, it’s better to follow the right process and hope for better trading results.
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Hitting the roof as trader
- Thread starter Raheel Shaikh
- Start date
I too have experienced that phase where I thought I didn’t have it in myself to step up and reach the next level of trading. I was using the same strategies, making the same kind of profits for years, and that was the root cause of the problem. I didn’t improve my strategies, which is why I couldn’t get the results I was looking for. So, I went back to the basics, read the concepts of forex again, developed new strategies, practiced them for days in the demo account, and then, returned to the live trading. This procedure worked for me, so you can also give it a try.
Words of wisdom! I was reading a book on trading psychology, and it had the exact same thing written that what you’ve mentioned. Trading is premised upon strategies. Bringing emotions won’t result in good consequences.Forex is a game of strategies, so if my current strategy is not yielding any profits, I start creating a new strategy. There is no point in feeling low because it won’t have any benefit for me as a trader. So, it’s better to follow the right process and hope for better trading results.
It’s not easy to be a trader. You have to go through financial stress and emotional stress at the same time. Even when these seem to be overpowering you, you better don’t become illogical. It’s simple to know- if one strategy doesn’t turn out to be profitable, find another but don’t stop until you find the one that you understand and can reap profits with.
its a very fine reply , got some of fine lines. thanks for your nice reply.I too have experienced that phase where I thought I didn’t have it in myself to step up and reach the next level of trading. I was using the same strategies, making the same kind of profits for years, and that was the root cause of the problem. I didn’t improve my strategies, which is why I couldn’t get the results I was looking for. So, I went back to the basics, read the concepts of forex again, developed new strategies, practiced them for days in the demo account, and then, returned to the live trading. This procedure worked for me, so you can also give it a try.
who is Author of this trading book ?Words of wisdom! I was reading a book on trading psychology, and it had the exact same thing written that what you’ve mentioned. Trading is premised upon strategies. Bringing emotions won’t result in good consequences.
Hitting the roof, in the sense of reaching a point where you can't seem to improve or grow, is a common experience, but it's not a dead-end. I suggest you to take a short break, focus on continuous learning, and explore new strategy with proper backtesting.