What you describe sounds more like gaming. You either know what you're doing or you don't. You can find a lot of advice and theories that hide from you the real problem: lack of adequate knowledge. When you know, and you're confident that you know, none of those theories bring you anything. When you don't know, nothing can help you.
How to be patient
- Thread starter enamhaq
- Start date
Lack of knowledge, market analysis and experience. Your mindset still considering this business as not a business so that's why your patience is still unstable...
Because that's the main key in forex trading and every trader should have a good level of patient so they won't get themselves controlled by emotions easily...
Just make sure you're not overcontrolled by your greed while trading and you'll be able to control your emotions easily...
Because by uncontrolled patient, you'll get yourself taking a reckless decision without any proper analysis.
So that why if you are unable to control your emotions, it's way much better to pull yourself out from your trading activity and calm yourself down. A disturbed mind would likely disturbing your market analysis.
That's true actually. Risk management and informational advantage are key components of success in forex trading. I try to use as much informational sources as I can - bloomberg, market watch, fxstreet, trading central analysis that my broker Hotforex offers, political news, etc. Its hard to put everything together in one picture to get a clue where the price of an asset will go but its the only way to make fundamental analysis (which can be wrong if you took inappropriate information sources)