What's your weakness in forex trading?
- Thread starter SmithFX
- Start date
mine is too much of this
that is because you see a reversal signal and think the market is reversing but most reversal signal become corrections or ranges and the original trend resumes.
if you like to scalp like i do then trade ES
It is difficult to comprehend what you wrote as you only wrote one sentence.
I think you mean :
Your only weakness is that you always do scalping instead of holding a position for a longer duration.
Because of that, you haven't traded for a very long time.
You also fear holding a position for a long duration which is in conflict with scalping (holding a position for a short duration).
Or whatever fear
Last edited:
That's not your weakness.
Your decision to trade forex instead of indices or stocks is your weakness.
Let me explain:
Forex has the highest "cost of trade". Its volatility vs spread vs slippage vs spread widening is the worst. Not to mention options spreads (some retail brokers offer options too) that are like 10x wider compared to say SPX. I'm talking about pairs other than EURUSD.
Delaying in making decision and it’s my only weakness in trading.
So far, one of my weaknesses has been the occasional struggle with overanalyzing. At times, I've found myself delving too deep into charts and data, searching for patterns that may not even exist. It's a fine line between thorough analysis and analysis paralysis. Overcoming this weakness has required discipline and learning to trust my strategy while keeping emotions in check. Every trader has their areas to improve, and recognizing them is a crucial step toward growth in this dynamic market.
I always struggle to control my emotion during trading. I always falls into the common psychological pitfalls in forex trading such as greed and fear. I’ve been working on this, I personally find this video helpful to conquer these common challenges:https://insights.primecodex.com/the-7-psychological-challenges-in-trading/